Tips for High Risk Merchant Accounts


When you decide to take credit cards, you have a lot of practical matters on your mind: what machine to get, how to organize the information properly, and whether or not you should charge customers a fee for small purchases. If you’re deemed a high risk merchant account, perhaps because you’re just starting out or because of the neighborhood you’re setting up shop in, you may have even more questions on your mind. Here are a few tips if you’re in this boat.

  1. Consistency Is Key

The more consistent you are, the more likely it is you’ll start chipping away at your high risk status. So long as you keep doing the right thing every day though, and learning from your mistakes as you go, you’ll be able to achieve a better reputation with everyone you work with. This goes for your customers as well. The more they see you being involved with what’s happening, the less likely it is you’ll be targeted for any type of criminal or otherwise negligent behavior.

  1. Stay On Top Of It All 

Let’s say you run a convenience store where 75% of your business is done with credit cards. Your clerks need to be just as diligent as you when checking IDs at the register in order to lessen the chances that you’ll process a stolen credit card. There are also cheap devices out there called skimmers that can easily be placed on a machine when an employee isn’t looking. This is most likely to happen at a gas station when the machines are relatively out in the open. There are a number of things that can go wrong with credit cards as you might imagine, so you’ll need to make sure your employees know this. They’re exceptionally valuable to a lot of people, and even one stolen number can lead to a mess you can’t afford. Following simple safety tips will eliminate being placed as a High Risk Merchant Account.

  1. Get Better Security 

At the end of 2015, credit card companies are no longer held liable for fraudulent charges when the merchant uses the older swipe card technology. It was deemed that the new EMV chip card machines were safe for both merchants and customers alike when it comes to warding off criminals. You will need to ensure that your security is top-notch so that you and your credit card processor do not have to pick up the tab for these charges. For high risk merchant accounts, this is particularly important to do.

  1. Be Patient

Generally the more priority you give your credit card taking process, the better off you’ll be. By doing everything possible, you’ll be more likely to gain a better reputation in everyone’s eyes. The only thing is that it takes time to do it all, so don’t expect all your problems to be solved in just a few months. The more you do it, the easier it will get.