Archive for October, 2009

When a pharmacy merchant launches an online pharmacy site, he should have a pharmacy merchant account in order to receive credit card payments from his clients. Since such an account is likely to handle a number of financial transactions, it should belong to a trustworthy institution which would not only process the payments in time but would also safeguard the personal account details of the pharmacy merchant.

Since a pharmacy merchant has to open a high risk merchant account, he should follow certain guidelines which are related to the opening of the account. One of the first recommendations which are made to the pharmacy merchant in this regard is to ascertain his exact requirements from a credit card processing solution. This should be done by assessing the processing requirements as well as the volume of processing since some providers place limits on the volumes of such accounts.

While designing a pharmacy website, one should be realistic about the expenses involved. Among other things, these expenses include very high fees which are incurred for opening a high risk merchant account and these should be taken into consideration by the pharmacy merchant especially while putting forth one’s profit projections.

Since internet is one of the most common tools for research and information nowadays, one would find a number of general credit card processors but it is equally important to remember that not all of them would be willing to open an account for a pharmacy merchant. Therefore, the search for a perfect account provider could prove to be time consuming as well as tedious.

Having short-listed a few institutions, it is strongly recommended that must appraise the reputation of the company before making the final decision. This can be done by ascertaining the duration for which the institution has been functioning, whether it has any previous financial and banking background and what has been its progress in terms of growth ever since it started out.

Comparison between the various providers is a time-tested method of selecting an appropriate provider and an important yardstick for conducting comparisons between the various companies is the time taken for them to reply to a simple query sent by the customer.

After having selected a provider, the pharmacy merchant should be prepared to come forth with all the personal as well as financial details about himself as well as his company. In addition, he should read the document provided to him thoroughly so as to avoid controversy and misunderstanding at a later stage.

High risk merchants are those businessmen who are in charge of a highly risky business enterprise or belong to the highly risky industries like adult entertainment, replica goods and pharmacy. Merchants may be categorized as high risk merchants due to their location, their poor credit history or if they indulge in the trade of illegal products and services or if they deal in high risk industries.

Since high risk merchants cannot trade through the normal trading accounts, they have to resort to special accounts which are known as high risk merchant accounts. These accounts are meant for conducting businesses which are prone to bankruptcy, fraudulent transactions, high volume of sales, high rate of refunds as well as high rate of charge backs.

The accounts opened by high risk merchants are classified under the highly risky category and are therefore not provided by most of the banks. Such accounts are opened with the third party who not only charge a higher rate in lieu of the account but also provide protection against a high level of fraud which is likely to occur in such a business.

When a high risk merchant opens a bank account, then he has to so through the third party merchant account providers who are known to charge a higher rate as compared to the general ecommerce merchant but a lower rate when compared to those provided by the banks for such enterprises. Therefore, the total expenditure incurred by high risk merchants would include application fees, transaction fees, monthly fees as well as discount rates.

Before entertaining high risk merchants for opening an account, all financial institutions generally conduct some research on the background information of such merchants. One of the main intentions behind this research is to find out the length of time for which the business has been operating. A business which has been around for a longer duration is likely to be trusted more as compared to a business which has been around for a short period of time.

All high risk merchants have a credit report which reflects on their reputation with regards to payment of credit. This is also investigated since the merchant’s capacity to repay loans as well as his vulnerability to bankruptcy is an essential factor on which the opening of such an account depends.

Although high risk merchants pay exorbitant rates for opening a bank account they enjoy the benefits of perks and payment discounts which are also a part of such an account.

Ewallet is the system of completing an online payment transaction through debit cards, credit cards or checks. Several online business owners provide the facility to consumers to purchase the products online and at the same time make payments online through credit cards, debit cards or checks. This facility is permitted to only those business site owners, who have respective merchant accounts to offer the service to the clientele. Therefore it is mandatory for a business site of this nature to have proper eWallet merchant accounts.

You get the support of easy processing of online payment transactions when you acquire an online merchant account. Nonexistence of this facility will be real hardship for you and your customers. Obtaining an ordinary merchant account is not difficult for any online business, when the risk involved is regarded minimum or negligible. For an online business, where the risks are considered to be high, it becomes utterly difficult to acquire a normal merchant account. Accordingly, online business owners find it complicated to obtain eWallet merchant accounts.

Businesses with high risk profile

Quite a few businesses are taken as high risk businesses due to their nature of activities. The consideration of high risk evolves from the possibility of fraudulent activities. As the transactions are numerous in numbers and they take place round the clock, throughout the year and spread around the world, there is always a chance of the account to be harmfully used either by some external body or by certain section of consumers or suppliers of the trade. This feature of the high risk business prevents getting the support of the providers of merchant accounts.

Some of the online trades are regarded as high risk types. They are the pharmaceuticals, adult entertainment sites, dating sites, gaming sites, auction sites, cigarettes, telemarketing, web-hosting, debt service, e-cash and the transactions processed through eWallet providers. Hence the merchant account providers like the banks and credit card providers shun away to grant normal merchant accounts to the high risk business owners.

You must acquire eWallet merchant accounts to run your online business smoothly so that payment transactions are done efficiently without any chance of getting mutilated. You will be able to avail all sorts of payment transaction through different mediums and your business will surely improve.

Facilitate payment transactions

You should obtain the high risk merchant account to facilitate the business transactions online. Your eWallet merchant accounts will offer you all the advantages in this respect for the growth of your business. Paypal is a great payment processor and is the eWallet system that you have been looking for. It helps to carry on with your online business with smooth online to and fro transactions. You must take the services of merchant account providers for your advantage. HR Merchant services offer consultation on your requirement of merchant accounts when you are having the high risk business. Contact immediately and acquire eWallet merchant accounts immediately.

Adult merchant accounts are regarded as high risk affairs.  The merchant account is required for the adult business is characteristically different from an ordinary merchant account.

Advantages of adult merchant accounts

Ordinary business sites get their merchant accounts to facilitate online transactions like the incoming payments via credit cards, debit cards and so on, which customers appreciate. You need to operate a merchant account to make your site popular.

The adult merchant accounts have different conditions for them. The normal custom in this business is about the membership fees that customers are obliged to pay either one-off fees or regularly every month. The enhancement in the one-off fee structure denotes that the business has a healthy patronage and can expect better business and more popularity. The adult merchant accounts should have diverse payment methods to facilitate easy payments from customers. The business owner should encourage both the types of income to achieve optimum earnings from his business.

How difficult is it to obtain an adult merchant account?

This has been the lacuna since a long time as the merchant account providers are hesitating to join hands with the adult service business operators due to an unknown suspicious reason. They know it very well that the adult service business is highly lucrative.  Due to certain mistrustful transaction history, the adult service business is not regarded as safe and secured venture. Additionally, service providers may not desire to attach their name with the adult business. This is the main reason of the inability to obtain adult merchant accounts.

There is a second scenario, where the adult business operator gets the opportunity to avail an account on very high charges. The business operator has only two options either he can reduce the membership or reduce the quality of the service product. In the former condition, the business fails to earn any profit and the reduced quality of the service product will finish off the business gradually.

There is a possible solution

Every adult business website owner must have an adult merchant account to run the transactions smoothly. There are solutions to this problem, which you can get as a genuine the assistance by paying reasonable charges. Adult merchant accounts are essential for your business and you will have the one surely.

HR Merchant Services are well qualified to tackle such situations for the adult business owners by managing the high risk services easily but efficiently. A very long experience in this merchant accounts industry has taught us the way out in tough situations and come out successfully. You can avail our services at reasonable charges and obtain adult merchant accounts and become successful.