The transformation of digital platforms has uniquely set a better foundation for merchants around the globe. An online Merchant Account is not a new concept in the area of online payments.
However, Merchant Account Solutions play a vital role in setting a business up in front of the people. In other words, the merchants need to create an online presence for their consumers; the digitization of the business needs a merchant account to accept online payments into the bank account. In turn, it goes into the merchant’s business account after the settlement period is over.
How to get an online merchant account solution?
There are two major steps to get an online merchant account.
Firstly, you need to assess the risk ratio of your business, i.e., whether your business is high-risk or low-risk.
Secondly, you need to choose between a local bank or third-party Merchant Account Providers based on the risk factor.
It is indeed a time-consuming process for any business. Thus, we are here to simplify the process for you to get a faster solution.
The Risk Factor
The high-risk and low-risk category is depended on 3 to 4 factors.
- Chargeback and Fraud Ratio: A company’s business dealings have multiple transactions from the consumers. If the chargeback and fraud ratio of a company is higher than a specific ratio, it is considered a High-Risk Business. Chargebacks and Frauds are the most annoying part of a Merchant’s business movement.
- Geo-locations: There are places around the world that multiple FinTech institutions consider high-risk. They tend to avoid these countries, cities, or towns because of a high frequency of fraudulent activities. Therefore, most service providers avoid accepting merchants from these areas.
- Industry-Type: Some specific industries are considered high-risk because the business deals with different types of consumers—online Casinos, E-Commerce, Foreign Exchange Trading, Gambling, Betting, CBD, etc.
- FinTech Industry Non-Standards: A service provider may also classify a merchant or business as a high-risk business according to their fancies. In other words, you don’t have a fixed set of rules to be a high-risk business. If a service provider needs, they can precisely shift your business to high-risk business according to their business outlook.
Bank or a Merchant Service Providers
Banks
Banks, on the one hand, provide state-of-the-art solutions for all your merchant account needs. If you have a merchant account in the same bank as a business account, you get absolute benefits from them. Banks provide the best rates and most seamless payment processing experience for the consumers as well as the merchants.
On the other hand, a Bank will strictly deny a merchant account to a high-risk business due to the chargeback, fraudulent transaction, and large value payment ratio of a business. It concerns the goodwill of a bank to offer a merchant account to these industries.
Merchant Account Solution Providers
The other option is to reach out to a merchant service provider. A third-party Merchant solution Provider has expertise in the field. Moreover, this option has a huge range of industries to reach out to. Moreover, you get services that are tailored for your business.
Therefore, an online Merchant account will be way easier with a third-party solution. As a merchant account is a requirement to accept online payments, getting the best solutions around the globe will enhance your business on every ground.
A Merchant Account Solution Provider that you need
You can either wander around the internet to look for a solution, or you can reach the experts in the field. Amald is a Merchant Account Solution Provider with expertise in the high-risk sector of online businesses.
Additionally, there are multiple benefits for choosing their services as the tailored solutions will bring a great change to your business dealings around the globe. Some of the features are:
- Accept Multiple Currencies: Reaching the global audience with your business becomes easy when you accept multiple currencies. Offering consumers ease of payment with the convenience to pay in their local currency enhances the consumer loyalty metrics. Therefore, Amald’s Merchant Account is making the payments hassle-free.
- Security: PCI Compliant Merchant Account ensures that the account meets all the security standards and is ready to accept online payments for your business seamlessly. Moreover, being PCI DSS Compliant Level 1 means the best safety for all the payments around the world. There can be no breach by hackers.
- High-Risk Appetite: Unlike other Merchant Service Providers, Amald has a huge risk appetite for any industry. In other words, Amald provides merchant account solutions irrespective of the Geolocations. It opens the door for multiple businesses falling in the high-risk category of online payments.
- Complete Merchant Assistance: An exclusive benefit of choosing Amald is the complete merchant assistance. Understandably, the FinTech industry is not your niche. Thus, our cutting-edge solutions come with the perk of merchant assistance. Our experts are ready to answer every question and help you set up a merchant account for your business.
- Instant Approval: There is a huge connectivity chain reaching multiple banks around the world. Therefore, your business can have an account set up on the same day. Amald has a history of providing the quickest solution for an actively involved merchant.
- There can be a transaction problem or a settlement issue. 24 x 7 Support: last but not least is our technical team’s 24 x 7 Support. Thus, our online gates are always opened to answer your issues precisely and quickly. IT makes your merchant account experience better.
Conclusion
In conclusion, if your merchant account needs to reach the brink of urgency, you might panic and get a problematic solution which may be the reason for the liquidation of your business. However, Amald keeps excellent care of all the merchants around the globe.
You can rest easy to get best-in-class services for your business to reach a global audience. Thus, getting a merchant account for your High-Risk business will be a solid choice with Amald’s professional team. Moreover, you don’t have to wander off to the world to get a solution to last long. Amald takes great care that the bonding remains intact for a long period.
Lastly, we are here to help your business succeed. Get the quickest Online Merchant Account Solution Today!
Tags : Global Merchant Account, Adult Merchant Account, Credit Card Processing
