Have you been categorized as a high risk merchant and you are now wondering what this means for you. And how you can get merchant accounts.
We have covered far and wide about what high risk means and how it effects you. But have never written a guide to what is going to happen now and how PurePay can assist you.
When labeled as a high risk merchant, it is usually because of expectations of chargebacks, refunds and other risk factors. This has to do with the merchant category you are in. You can reflect in your MCC code what they have labeled you as and we will post soon more about this.
VISA and Mastercard has very special rules to merchants and especially high risk merchants. And you are obliged to be under 1% in chargeback ratio. Or under count which is based on # of chargebacks per card.
The way you can live up to the rules that comes with merchant accounts from MC and VISA, is to set up a great campaign with explicit information of subscription/sales. Moreover you should also have a customer service center to do your e-mails and calls from customers, and add on chargeback prevention tools and representation, you should be good!
We have more than 5 years experience with online credit card processing as well as working with high risk merchant accounts. Not only have we worked daily with the fintech and processing in general and we know what is moving and how we can keep you alive. Also how you can make sure that your offer and websites are staying under the requirements from the card schemes.
PurePay has partnered up with the best solutions in order to make sure you as a merchant are covered. Whether is it fraud prevention, chargeback prevention, corporation setup. It is very important for any business to make sure to pick the right partner. When it comes to expanding or opening your business.