A quick guide on the steps you can take to protect your high risk merchant account

Dec 18th 2015 at 4:23 AM

If you have a high risk online business, then you know just how difficult it can be to get a high-risk merchant account. You have to go through a lot of hoops to be able to get the account and therefore once you have it, you want to be able to protect it as much as you can and additionally prevent yourself and your customers from making the service too expensive for you. The nature of the high-risk merchant account means that the account is highly predisposed to chargebacks and you want to avoid this as much as possible because it cannot only be very expensive but it can also get you in trouble with the company providing you with the high-risk merchant account. As such, protecting the merchant account through all means should be what you go for in a quest to protect your merchant account service. To do so, one of the more important things that you can do is to ensure that the relationship between you and your customers is at its best that it can possibly be.This requires that you provide avenues for as much dialogue and prevent any transactional issues from ever happening in the first place. That way before your customer never has to think about directly contacting the issuing bank for a chargeback. Instead, they will first of all contact you so that the issue can be resolved. Below are some of the things that you can do to ensure that you protect your high-risk merchant account.

To protect your high risk merchant account there are several things that you can do. Most of the things that you can do you may find to be quite elementary but the points are nevertheless very important and need to be taken into account because most people forget to take them into consideration. For example, ensuring that you have contact information that is easily visible and readily available to your customers will make it easier for your customers to first of all contact you and not the issuing bank in order to initiate a chargeback. Additionally, when your customers do contact you, you need to be able to respond to their queries as soon as possible and solve the issue fairly and conclusively in order to prevent chargebacks.

Furthermore, the customer service that you have for the high-risk merchant accounts needs to not only be prompt but it also needs to be stellar service that can not only calm any customer that is anxious but also find the best resolution to any issues that may arise. Moreover, choosing the right merchant account service is crucial because sometimes you could be fighting a losing battle with some of the high risk merchant account providers out there. For example, ensure that they provide certified payment processing and that details like the descriptor has adequate information so that your customers are clear about transactions found on their bank statements.

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