Articles in the Security & Fraud Category
Credit Cards, Featured, Headline, Merchant Accounts, Processors, Security & Fraud, Website related »
Many online businesses such as a gambling business, adult products and many other affiliate products are considered to be high risk businesses as there are many chances of refund or chargeback claims from unsatisfied customers. A high risk business may also constitute a business which does not have an establishment and the bulk of their business is carried out over the phone.
Who need a high risk merchant account?
A high risk merchant account is mainly needed by those businesses that are very prone to receive chargeback claims from their customers …
Credit Cards, Featured, Headline, Merchant Accounts, Processors, Security & Fraud, Website related »
Since you are here, you must be well aware of a merchant account. It is a line of credit by which a merchant can accept credit and debit cards as their main mode of payment. Now, there are some businesses deemed as high risk which need special merchant accounts known as the High Risk accounts. Let’s see how it works and what it is.
Why the term ‘High Risk’?
There are some businesses such as adult products such as eBooks or sex products, online gambling and trading agencies which are popularly known …
Credit Cards, Featured, Headline, Merchant Accounts, Processors, Security & Fraud, Website related »
By and large the most important risk in an online business processing credit cards is the chargeback. It is the reversal of the payment made by the customer back to his account. A claim for a chargeback may arise in situations where the product delivered is faulty or the product is not as promised, or there has been processing errors. But by far, the most important factor in this is the case of fraudulent transaction which takes place usually with stolen cards.
The threats:
The threats posed by a chargeback are very …
Credit Cards, Featured, Headline, Merchant Accounts, Processors, Security & Fraud, Website related »
A high risk account is a kind of merchant account which is mainly used for high risk online businesses such as gambling, lottery, computer sales, adult goods, etc. which demand for a high percentage of chargeback or frauds. There are several other criteria according to which the businesses are deemed as high risk businesses. These businesses generally can’t opt for a normal merchant account for credit card processing and have to go for a High Risk Merchant Account which charge more fees than the normal merchant account and provide much …
