Best Merchant Account for High Volume Business
When you are the owner of a successful business, you will be proud of the high turnover that your company is witnessing. We congratulate you for having such a flourishing business. It takes a lot of time and effort to build such an empire. However, such an empire comes with many drawbacks. This includes months where you generate a loss and a high turnover rate. If your business witnesses a loss in more than one month, it can bring down your annual profitability. A high turnover rate means that you will be investing more in your employees and business, which will again have a negative impact on the profitability number at the end of the closing year. The reasons listed make you a high-risk business, which means that you will have trouble opening a merchant account with various financial services.
Another thing that you must note is that the high volume of sales will directly impact your payment processing. A large volume of payments processed every day mean that there are greater chances of an error being made. More complications will be faced by your business due to this reason, which will add to your level of corporate risk, no matter which type of payment forms you are accepting from your customers.
Online Internet Merchants MOTO and Retail
The high risk that you face with the incoming high volume of sales is the requisite of the sales being made, which means that you will need to hold on to a few payments while the bank processes the other payments that were made on your firm's website. This makes the whole process quite difficult to handle, which is why many banks try to avoid such transactions.
Not only that but when your company operates in the sales business, you need to go where the market trend is and these days, the market is trending on the e-commerce side. The number of online customers is expected to increase in the upcoming years, which means that you will have a larger market base and there will be more sales and payments to process. Being an e-commerce website means offering various modes of payment such as credit cards. To stay updated with the industry trend, your business will be required to provide these modes to your customers online.
We offer some of the best services for online merchants with high volumes. Our payment gateways are expertly set up, and you will find that our virtual terminals work amazingly well so that there are no disruptions in your daily business volume and you do not face any payment issues. The great thing is that we accept a variety of credit cards including Visa, MasterCard, Discover, and Amex. We also provide check processing and ACH processing. An added advantage that you could avail is our check drafting facility, which is also available if you open a merchant account for high volume businesses. Since our customers are our priority, we do not accept any setup fee or application fee.
Account Denied, Cancelled, Restricted, Capped Closed or Shut Off?
If you have managed to secure a merchant account for your high volume business, you must be constantly worried about your account and rightfully so, as merchant accounts opened with various banks or other financial services are under the constant threat of being shut down by the service provider.
You high volume business will suffer a lot if that happens as your daily transaction will be disrupted and you will be unable to do anything about it until you can reopen the account or open a new one. Opening a new account is not as easy either, as it will take time and you might face a lot of denial from various service providers before you finally manage to get your hands on a secure account. Throughout this entire process, you will lose a lot of customers as the payment will not be processed accurately and your high volume business will witness a downfall.
It must have been difficult getting the account in the first place as you are labeled as a high-risk customer, so why not skip the entire stressful process and start your account with us? Your business will not face any denial or shutoff from us as we aim to build strong, lasting relationships with our customers. You will not be disappointed with our services either as we offer some of the finest gateways and processes.
New Businesses and Established Companies Welcome
New business means higher risk. The problem with new businesses is that they do not have a credit history or profit and loss sheet by which any financial service provider can judge the turnover your business will witness in the future. There are no means of predicting this fact either, thus making the entire process of assigning a merchant account even riskier.
However, we will not turn our backs on your business. We will support your company all the way even if you experience a downfall. Our systems will be backing you up all the way.
Rates tend to differ depending on the risk involved in the business. The higher the risk, the higher the rates. But the services that your company will be getting will be of superior quality, ensuring that there are no disruptions.
Domestic and offshore options
Let's get one thing out of the way. Rates will be different for offshore and domestic accounts. Offshore accounts will be charged higher as the risks associated are higher as well, whereas domestic accounts will be charged lower rates.
Depending on your company, you can either built an empire offshore and cater to international clients or have a local company that fulfills the needs of the customers. Either way, all sorts of companies will be provided excellent services, including privacy and protection. We will support you if you want to take your business global and accept payments in different currencies. We also have Android and iPhone apps available so that you can make use of them to make your business an even bigger success.