There are certain businesses that come with a very high risk of fraud through what is known as chargebacks and at times the use of stolen cards. While it is true that not all buyers are out there trying to defraud you as the seller, it is always advisable to be safe rather than sorry. One of the best ways in which you can protect your online business from the hands of the few fraudulent customers is getting the help of high risk merchant services India professionals offer. Below are the things you should know about the service.
One of the issues is that you will get demands from the locals to provide the service. This is mostly seen in large products and you might not entertain the idea because of the loss that you might incur when a customer fail to pay for the goods. However, the service is offered although you might have many competitors willing to offer better service.
The first benefit that you will experience when using the risky service is that there will be less hassle when a chargeback does occur. When you are using the regular account, you have to be very careful. At times, a few cancellations and chargebacks will lead to termination of the account.
When you set up the risky account, you are informing the service provider that the business will face some additional risks as compared to the regular business. This means that they should accommodate your risky venture by avoiding threats of account closure when you get chargebacks. Instead, they should inform you of the necessary steps to handle the situation.
Another important thing to keep in mind when opening the accounts is the need to have some fund in it. This is needed to protect the service provider in case you have chargeback. The requirement on the fund is that you need to have some percentage as per your monthly sales. You may be asked to put ten to fifteen percent in the account. It is also required that you put the money for a particular time to protect the provider from certain risks.
Heightened security measures are another important step that is taken by people that provide these services. It is true that completely eradicating the possibility of fraud is close to impossible. However, there are certain reliable detection techniques that make it less likely for you as the person operating this type of account to get conned. These are put in place before you start making transactions.
The great thing about this account type is the fact that it gives you access to larger markets. You will create an online merchandising page and even use phone sales. The website, when well advertised can bring in customers from the world over.
These facts are meant to help any business person with a large market. You should get in touch with the service providers and see what they have to offer. Do not be afraid of putting your time and resources because the end results will be profitable.
One of the issues is that you will get demands from the locals to provide the service. This is mostly seen in large products and you might not entertain the idea because of the loss that you might incur when a customer fail to pay for the goods. However, the service is offered although you might have many competitors willing to offer better service.
The first benefit that you will experience when using the risky service is that there will be less hassle when a chargeback does occur. When you are using the regular account, you have to be very careful. At times, a few cancellations and chargebacks will lead to termination of the account.
When you set up the risky account, you are informing the service provider that the business will face some additional risks as compared to the regular business. This means that they should accommodate your risky venture by avoiding threats of account closure when you get chargebacks. Instead, they should inform you of the necessary steps to handle the situation.
Another important thing to keep in mind when opening the accounts is the need to have some fund in it. This is needed to protect the service provider in case you have chargeback. The requirement on the fund is that you need to have some percentage as per your monthly sales. You may be asked to put ten to fifteen percent in the account. It is also required that you put the money for a particular time to protect the provider from certain risks.
Heightened security measures are another important step that is taken by people that provide these services. It is true that completely eradicating the possibility of fraud is close to impossible. However, there are certain reliable detection techniques that make it less likely for you as the person operating this type of account to get conned. These are put in place before you start making transactions.
The great thing about this account type is the fact that it gives you access to larger markets. You will create an online merchandising page and even use phone sales. The website, when well advertised can bring in customers from the world over.
These facts are meant to help any business person with a large market. You should get in touch with the service providers and see what they have to offer. Do not be afraid of putting your time and resources because the end results will be profitable.
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