There are mainly two types of bank account you can open, savings account and business accounts in which comes a merchant account. Merchant account is an account that allows business to accept payments in multiple ways, typically debit or credit cards. In order to establish a merchant account there has to an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions.
One of the sub sections of merchant account is high risk merchant accounts. A high-risk merchant account is a business account or merchant account that allows the business to accept online payments though they are considered to be of high-risk nature by the banks and credit card processors. A high-risk merchant account is simply a merchant account for businesses classified as being in a high-risk category. While different high risk merchant account providers have their own criteria for determining that a business is high-risk, an elevated risk of chargebacks or fraud is usually the most common factor.
Merchants may be considered high-risk if they have a high volume of transactions or have a high average transaction rate. If a merchant processes over $20,000 in payments per month, or has an average transaction of $500 or more, they may be classified as high-risk. These accounts need solutions that are offered by many companies in the market.
Remarkable solutions provided by Premier One Payments.
Premier One Payments is one of the best companies providing solutions for businesses needing high risk merchant account. The company has experts in the domain helping the clients get their business more profitable. They also help them get merchant accounts for effective processing of credit card payments.
The business owners do not have to worry about the industry or size of their business as all kinds of businesses get benefits from partnering with payment processor like Premier One. First, they offer businesses the ability to accept all of the major credit cards, checks, mobile, and online payments, both in the United States and offshore.
Regardless if your firm is high-volume e-commerce firm or a low-volume brick-and-mortar retail the experts in the company will provide adequate support to make your company to grow and thrive. A special efficient instant approval system has been developed by the employees for high-risk merchant account. As such, they approve 97.8% of merchant applications within 48 hours. All you have to do is fill form available on Premier One Payments official website.