High Risk Factors
Processors and banks view certain types of businesses as high risk despite being very well operated with clean processing history.
Many high risk merchants experience excessive chargebacks and if the ratio exceeds 1% of monthly sales the account could be terminated.
If refunds exceed 10% the account could be terminated despite the average rate of returns for online sales being over 20%.
High Ticket Size
Merchants that sell expensive items pose a greater risk of chargebacks and fraud. The risk entails the merchants ability to handle a chargeback or refund request.
Often stolen cards are used to purchase items that can be easily sold such as jewelry, consumer electronics, and sporting goods.
Products or services that take an extended time to deliver often experience high chargebacks and excessive refund ratios. Furniture and travel are good examples.
What if I already have a merchant account?That is great, but there could be a few issues that you may or may not be aware of. - Was your account set-up with the proper risk parameters? - Are the fees you are paying too high? - Do you have a reserve? If so, what are the terms of the reserve? - What if your account is terminated by your processor or bank...do you have a fall back plan? If you are concerned about any of these issues and would like a FREE consultation, click here.
Isn't setting up a merchant account a big hassle?We have created a streamlined system and in most cases the entire application process will take 15-30 minutes of your time. The first step requires the completion of a simple online secure form that allows us to review your business and determine the ideal processing partner. XCEL Partners works with more than 15 payment processors and sponsoring banks, and this allows us to work with virtually all legal business types. After selecting the processing partner the minimum steps to complete an application package are as follows: online application signature, voided check, drivers license and 3 months payment processing history. Once that information is evaluated it is possible that additional info may be required depending on the risk assessment the business. Usually underwriting decisions are obtained in 2-5 days upon submission of a completed package and processing can begin immediately after approval. Get started today!
My merchant account was terminated, can you help?A: If your account was terminated by your processor or bank it can present some significant challenges to get an approval. However, there are many factors that can impact the probability of getting an approval. If your company was placed on the MATCH (member alert to control high risk) or TMF (terminated merchant file) getting an approval can be very difficult, but not impossible. Depending on the reason for termination, XCEL Partners will work diligently to help get your payment processing back on track. We have partners that are often willing to help good businesses that were terminated. Schedule a FREE consultation today!
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