March 2, 2010
What is the best criterion to look for in a high risk merchant provider?
Lola J asked:
I have a high risk business (pharmaceuticals) and I’m currently looking for a high risk merchant account provider to assist me with payments and billing. I am not too savvy about picking the best provider. Moreover, I heard there are so few of them providers out there so I don’t know where to begin!
I have a high risk business (pharmaceuticals) and I’m currently looking for a high risk merchant account provider to assist me with payments and billing. I am not too savvy about picking the best provider. Moreover, I heard there are so few of them providers out there so I don’t know where to begin!
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Comments on What is the best criterion to look for in a high risk merchant provider?
You should talk to your bank..
Begin by getting a few quotes from some reputable companies.
A good tip is by looking at the bank they represent by looking at the bottom of their homepage. If they don’t show what bank they write for, then thats a bad sign!
Depending on your business type, some processors might also ask for a rolling reserve. That means a percentage your sales will be held for a period of time and be released later on as the months go by. This is somewhat common, so again get a few quotes and try and find a company with a good reputation with the best price.
You can get a free quote from the company I represent by following the link below, we specialize in high risk processing.