High-Risk processing is usually implemented when the acquirer or processor deems the merchant account could either be labeled as one of the inadmissible merchant types or merchant account processing history is well above the sales volume guidelines. However, the high-risk aspect can be different from one processor to another, as some processors may conclude the length of your merchant account processing history as the determining factor and some others may consider your industry category.
Regardless of what your scenario is, your merchant must be abiding certain guidelines that have been set by the processing unit, and those guidelines are the deciding factors of your merchant account’s risk factor. With the high-risk processing modules, many merchants usually find it very difficult to sign up for the account.
Here are a few tips for the high-risk merchant accounts to be safe and sound:
- If a transaction has been failed, make sure that you don’t try to run it over and over hoping to execute the transaction.
- If a card has been charged several times consistently, it could easily lead to a red flag, which is why you should maintain time gaps between using the same card that has been charged.
- In case of you receiving a massive influx of sales due to some holiday season or an exclusive offer, make sure that you intimate your processor so that they can withdraw any holds for that period.
- Never try to do something that isn’t under your MCC classification.
- Do your due diligence before setting up your account. Carefully preplan everything so that no hurdles come at you in the long run.
- Finally, while setting up the account, go briefly over the contract and make sure that you understand every term and condition, especially regarding the fee details.