Merchant Stronghold helps to find best merchant service provider

WHY DO YOU NEED A MERCHANT SERVICE PROVIDER?

A Merchant service provider is also known as a credit card processor. They offer services to the merchant to accept the credit card, debit card, and other electronic modes of money transactions.

An MSP is responsible to move the money from the customer’s account to the merchant when the customer swipes the card.

Also, a business that accepts the card and other electronic means of the payment can expand their business easily, as more customers are using the card instead of the cash in today’s economy.

Most MSP’s are providing a wide range of methods to accept payment to make the customer feel comfortable while choosing the service or product a merchant has to offer.

HOW TO CHOOSE THE BEST MERCHANT SERVICE PROVIDER?

Go for the Track record of various Merchant Service Providers. Before subscribing to the merchant service, you must check the previous records and reviews of that provider. If they have a positive record then you should feel free to add them to your list.

They are providing at a reasonable market price. You must check the market price for the services that you are looking for. Moreover, you can compare the prices and get the one suiting your requirements.

The Efficiency of the Support Service. While using the merchant service, a merchant may need assistance every now and then regarding the charges and more. In such cases, your merchant service provider must offer nice support, preferable 24/7 support.

Understand the need and requirement of your business. You must get the package or service that goes perfectly with your business. This includes subscription charges, monthly or annual limit, and more. Make sure you consider the expansion of business while choosing the merchant service provider.

NEED MORE TIP TO CHOOSE THE BEST MERCHANT SERVICE PROVIDER?

We understand every business is different and so does the demand of the business. This makes it clear that your business needs customized planning. The article provides brief details to choose the merchant service provider. If you want to know more then contact Merchant Stronghold and talk to an expert.We also provide services to get your credit card processing, high-risk merchant account, and other merchant account related services. You can call us at the toll-free number+1 (888) 622 – 6875 or get to info@merchantstronghold.com for 24/7 email support.

Merchant Account Services for Telemarketing Business

It allows you to market your product directly either over phone or web conferencing, which is on a call. In this marketing method, the salesperson tries to convince prospective customers to buy a product or service. Services are given over the phone or during a conference. For operating such type of business and carry out financial transactions (where most of the transactions are through credit card), business or merchant needs a merchant account.

High-Risk Merchant Account 

Next thing that comes to our mind is what is the meaning of a high-risk merchant. Issuer bank defines whether a merchant account or the business is high risk or not. It depends on the number of chargebacks and the type of industry. High-risk merchant in telemarketing business faces a lot of struggle in getting approval for a merchant account. But if they succeed in getting one, it will enhance the sales, as they will be able to accept credit card payment from their customers present all over the world.

Advantages of Merchant Account Service

If a merchant gets approval for a high-risk merchant account, a wider range of support service is given to the merchant for a smoother and efficient workflow. One of the main services provided is the virtual terminal. It is beneficial for high-risk merchants.

After the merchant account approval, as a result, a telemarketer will be able to accept the payment through credit card. Also, do financial transactions telephonically.

It will bring the customers under one roof allowing them to accept all the major currencies and credit cards.

The Question Is | Why do I need a merchant account?

Merchant Account Provider for Business – Usage of cash and checks is reduced in the past decade. More and more people are relying on cashless transactions. This means people are getting comfortable with card payment and card fewer transactions. But this is not good news for Merchants. They have to adapt according to the changing economy. This transition takes time and understanding.

There are benefits of getting a Merchant Account Provider for Business:

Better Money Management

No matter how small or large enterprise you have, money management is one of the very important aspects of a business. Without proper management of money, you won’t be able to see any profit. This is how a merchant account helps:

Now, if a customer makes the purchase using a credit card, debit card, or other cashless modes, the money will be directed to your merchant account directly.

You get a merchant account, which is connected with all the modes of transaction available.

Also, you can easily track the flow of money and make your business better.

Customer Satisfaction

There are many people who do not carry a large amount of cash anymore. Also, they prefer card mode of payment when it comes to expenditure. Coming back to the merchant, they need to equip their business with the tools to accept such payments. A merchant account provides such services.

A merchant also provides the tools to accept various kinds of card payment.

If you have an online platform to make business then you can also add payment buttons to the website for the customer.

This provides flexibility to the customer, as they have the option to choose from multiple modes of the payment.

No Fake Currency or Bad Check Hassle

In the case of cash or check transaction, the merchant is always worried whether the money offered is genuine or not. Sometimes, these little frauds can lead to a great loss for the merchant.

By using the cashless transaction, the merchant can avoid cases of fake currency and bounced checks.

A merchant account also offers payment modes for the recurring transaction of products and services.

Growth in Number of Sales

As we discussed, a great number of individuals are opting for the card payment as the mode of transaction. And introducing the cashless transaction can actually bring more business. With the growing security, the number of card customers is increasing exponentially.

How To Choose The Correct Transaction Descriptor For Your Business?

It appears on the credit card statement or any other bank statement of the customer that contains details of the company and merchant involved in the particular transaction.

The purpose of the merchant descriptor is to identify whom the payment was made to. Whenever a merchant goes for the merchant account, he or she is asked to provide the merchant descriptor as well.

WHAT ARE THE BENEFITS OF HAVING TRANSACTION DESCRIPTOR OR MERCHANT DESCRIPTOR?

Having a transaction descriptor can save the merchant from a chargeback. This is the most important benefit of having the transaction descriptor.

A descriptor gives clear information about the merchant and the purchase.

This helps a customer to quickly identify the transaction.

That also results in a low chance of the chargeback from the customer’s end.

According to the various reports from the card networks, most chargebacks are filed simply because the customer did not identify the transaction.

Now you know, as a merchant you should give attention to the merchant descriptor. If this is the case, you need to gather more information about the Transaction Descriptor or Merchant Descriptor.

There are two kinds of Transaction Descriptor:

Static Descriptor – A Static Descriptor remains the same for all the transactions made by the merchant.

Dynamic Descriptor – And in this case, it varies and includes the details of the purchased goods or service.

You must be wondering which one is better and what should you get for your business.

A Static Descriptor is often called Hard Descriptor. If you have a business that sells one kind of goods or service then you can go for this. A static descriptor generally contains the company and location in form of the zip code. Whereas, the Dynamic Descriptor may change with each transaction as it contains product specific details. If you own a store that sells a variety of products then you should choose the dynamic descriptor.

Why Use Multiple Payment Gateways for Business

GLOBAL EXPANSION OF BUSINESS

Who doesn’t want to expand their business to the global market? Now, if you are a merchant with an e-commerce website then you have great opportunities right in front of you. You can start selling your products all over the globe using your website.

However, it is not as easy as it may sound, but you can definitely start somewhere, and this can be started by adding payment gateways. Furthermore, if you are thinking to target a specific geographical location then the best way is to study the audience niche. Along with that, you can also look for the payment gateways popular in that region. After that, you can follow the same pattern and keep adding more locations preparing a multiple Payment Gateways website.

TARGET TOWARDS BETTER REVENUE

Once you have added multiple gateways to your business, you’ll see increased traffic on your website. This means you will get an increase in conversion rate, which could eventually lead to better revenue.

Furthermore, in a situation of crisis with a certain gateway, you can rely on another to keep your business going. Let’s try and understand this with the help of an example:

Suppose, you use 2 payment gateways A and B. One day, gateway A stops taking MasterCard payments and all the MasterCard credit card payments gets declined. In such a case, you can switch to gateway B and complete a successful MasterCard Credit Card Transaction. 

So, one can say, one of the advantages of multiple Payment Gateways website is never losing a sale or transaction.

BACKUP AND FAIL-SAFE PAYMENT SYSTEM

Using the gateways to make a transaction in your business can help you create an elaborate database of the customers. Using this database, you can mark faithful and regular customers, and at the same time blacklist the cardholders with a number of scams.

You can use this information for a successful business that can also help you reduce the number of chargebacks. Furthermore, you can back up this data using the gateway services.

If you have another payment gateway then you can securely copy all this data to another gateway and have all the similar advantages.

Furthermore, in the situation of overflow, having a second payment gateway can save you from losing any business. One of the advantages of multiple Payment Gateways website is always having a backup payment gateway.

ADVANCED SECURITY AND SUPPORT SERVICES

ARE THERE ANY DRAWBACKS OF HAVING MULTIPLE PAYMENT GATEWAYS?

High processing fees and costs

Management of multiple payment gateways

Do not result as profitable as it may sound

Understand Ecommerce Checkout Flow

Ecommerce Checkout Flow– Every big or small brand is now taking their business online due to the boost in the e-commerce industry. This means, along with the physical store, every merchant now wants to have an online store as well. This is a good idea for a merchant to expand and increase his revenue. However, not everyone is good at handling the e-commerce business on their own. This is because of the competition and lack of guidance.

One of the important aspects of online business is the checkout process. The checkout process is where your visitors get converted into the customers. If not done right, you can lose the e-commerce business due to excessive loss. 

Although, there are many successful e-commerce businesses that are doing really well and you can learn from them. Along with that, in order to boost your business, you can take help from experts.

What Is ECommerce CheckOut?

It is a designed interface and a customer must go through it to purchase an item. As soon as the customer clicks on the checkout button the process starts. Generally, it contains steps like entering personal details including name, address and contact information. Other than that, the customer will be asked to choose the mode of payment and enter details depending on the mode chosen.

For example: If a customer chooses to make the payment using the credit card then he will be asked to enter the credit card details depending on the company’s norms.

Once the checkout is completed successfully, the customer will be notified regarding the recent purchase using the contact information provided by him.

How Does ECommerce CheckOut Work?

From the customer’s point of view, the checkout process is as easy as entering the details and getting the products. However, for a merchant, the checkout process is a whole different story.

An ECommerce checkout process is the flow of valuable data that needs to be processed carefully at every step. Generally, a customer goes through following steps during an ECommerce Checkout Flow:

After liking a product or service, the customer clicks on the “Add to Cart” button.

Then the customer is directed to the cart where the confirmation is asked whether the customer wants to “proceed to checkout” or go back to “continue shopping”.

Once clicked on “proceed to checkout”, the user will be asked whether the customer wants to check out “as a guest” or “sign in”.

After choosing the desired method, the customer will be asked to enter the details.

Finally, “place your order” will pop up on the screen.

After clicking on this button, a customer needs to make the payment by choosing the desired mode.

Once the customer successfully completes the payment, he will receive confirmation of the purchase.

Online Fraud Prevention And Analysis

As an e-commerce merchant, there should be some preparation done for things like funding, stocks, products, etc. But at the same time, precaution for the expenses like lost products, shipping charges, chargeback fees, and the probable loss of the merchant account.

Case investigations, customer phone support, and damage to a merchant’s reputation also contribute to the cost of fraud. The latter could possibly be more damaging.

Possible points where fraud could be prevented:

Predictive Analysis: There is a vast use of data nowadays, which can be used to detect fraud patterns to determine future probabilities and trends. Although predictive analytics won’t reveal what type of fraud is about to take place it will certainly point the possibility of fraud.

Experienced Fraud Analysts: The customer care and a team of fraud analysts can be a ticket to reduction and prevention of fraud. Fraud analysts play a critical role in a fraud detection solution, seeing behind the scenes.

Customer Care and support: Customer care and support play an important role as they are in direct contact with the customer and can detect the possible reasons of fraud.

Monitor Transactions and Reconcile Bank Accounts Daily: You must know about your biggest spenders and their buying patterns. Monitor your accounts and transactions for red flags like inconsistent billing and shipping information, as well as the physical location of your customers. Use tools to track customer IP addresses and alert you to any addresses from countries known as a base for fraudsters.

By putting the right tools and processes in place, you can reduce the chances of fraud.

BEHAVIORAL ANALYSIS:

With businesses looking to reduce fraud and keeping up with emerging trends in fraud methods, new ways of detecting and preventing fraud are being developed. One of these is the Behavioral Analysis.

Behavioral Analysis relies on something, which is inherent in a user: how they behave. What a user does may be a better indicator than who say they are, this question is mostly challenged by authentication.

This is analyzed by shopping habits; our shopping habits reveal our unique behavior. For example; how you shop, what is the monthly spending budget of your spending, etc.

SIMPLE STEPS OF BEHAVIORAL ANALYSIS TO DETECT FRAUD:

Gather lots of information to form a template of the user’s behavior and get prepared for the customer’s responsibility. Also, make sure to train the team against such frauds.

Set a rate or a threshold according to your customer’s response translating from normal to fraudulent. This is generally in percentages that a transaction is fraudulent (for example, 90%)

When a user is encountered, a probability of the transaction being fraudulent is calculated based on the behavior. If the percentage is above the threshold (90% in the example), the user is blocked from the transaction.

Address - 10300 49th Street N Suite 427 - Clearwater, Florida 33762 

Contact - +1 (888) 622-6875.

What are the Streamline Online Payment Services

Streamline Online Payment Services – Handling the online presence of your business is a difficult task. Furthermore, in the generation of competition, you must make your product and performances that make the customer stick to your services. This also includes the streamline online payment services. You can read this article for the tips to get a number of customers at your platform.

Reduce the Check out Time

Many experts claim if the customer spends too much time during the checkout, the chances of dropping the purchase also increases. You can try these methods to reduce the checkout time.

Give the customer the option to log in and then explore your products.

Moreover, you can also offer to add the delivery details or address during the login.

Also, ask the merchant to save the payment for the next purchase.

You can ask for the reviews related to their checkout and delivery services.

Seamless Site Navigation

Generally, a customer explores a lot before making a purchase. Especially when they are trying your services for the first time. In such a case, you can offer smooth navigation while jumping from one product to another product as easy as possible.

Ask the customer to add the items they like to add to the wish list.

The products that a customer sees should appear on the recently viewed panel.

Jumping between the products should be easy and more manageable.

Make it easy for the customer to purchase the product whenever or wherever they are. This helps you streamline online payment services and make more profit.

Availability on Different Devices

The matter is to make your website or platform easily available on the device.

Make sure your website is responsive and works on different devices including Smartphone and computer.

Also, Smartphones and Tablets are also available in different screen sizes.

You can also get a designer who can customize the website as per your requirements to get the streamline online payment services.

Address - 10300 49th Street N Suite 427 Clearwater, Florida 33762 

Email Id_ info@merchantstronghold.com

Contact_ +1 (888) 622-6875.

What You Need to Know about a High Risk Merchant Account

OFFER/CAMPAIGN INFORMATION

Describe the product/service being sold? How is the product/service ordered or purchased? What are the price points for the product/service?

Is the product/service being sold through a Front End or as an upsell offer? Is the product/service being cross-sold with any other product/service? If yes, explain. Is there a free trial and/or auto-ship program attached to the product/service? Is there a recurring billing/continuity plan associated with the product/service?

Documents and KYC

3 months of recent business bank statements. (If a new business, the merchant should be able to show financial stability to support the startup/operation of the business or personal bank statements.)
3 months recent prior processing statements for all products intended on being processed through the merchant account (If applicable)
Prior years and year-to-date business financials (Prior years audited financials required if available)
Website or Marketing materials (Print ads, brochures, etc.) if mail order/telephone order sales
If product/service being sold and not owned by a merchant, reseller agreements should be provided
Articles of incorporation/articles of the organization showing the ownership of the entity associated with the merchant account.

How To Improve Redirect Payment Gateway?

One of the common mistakes made by the merchants is that they do not give much attention to the Payment Gateway redirection. A payment gateway is a point where conversion takes place. If not done right, you can lose customer and revenue, both. It is advised to every e-commerce merchant to choose a redirect payment gateway, carefully.

In order to make sure that the conversion is not affected, you need to work on redirect payment gateway strategy. Here are some tips that you can try:

Make sure that the redirected payment gateway is completely secured for both the customer and the merchant.

Avoid too many clicks for the purpose of payment.

Only ask relevant information and required details from the customer.

The redirected website should open fast and shouldn’t have popups or advertisements.

Most importantly, alert your customers that they are being redirected to a new website so that your customer is not alarmed after seeing a different URL, logo, and website.

Another thing to notice when going for payment redirection is that the merchant should have complete information related to the payment being made.

Furthermore, by offering the required information related to your payment methods can save a lot of your and customer’s time.

Need more information? – Contact Merchant Stronghold

If you are still not sure about the payment redirection methods. Also, we provide assistance with High-Risk Payment Gateway, Online Merchant Account, Credit Card Processing, and similar services.

Interesting Facts About Merchant Account Processing

While opting out for a merchant account, and choosing a payment gateway, businesses usually make mistakes some way or another. Whether you are new to the business or have lots of experience, you still might have some misconceptions about it.

Not Worth the Time – Firstly, entrepreneurs find that they have the best payment processing with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account.

Expensive Affair – Yes, the merchant accounts don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer perspective on the rates.

Misleading Promotion – The misconception is that the service providers prevent the facts and sell the merchant accounts in higher percentages or give out misleading information as a result of non-formal training and burdened pressure to close a deal. Independent agents have a bad reputation for failing to disclose some of the more serious terms of the contracts they’re selling, especially early termination fees. Yes, there are some naturally talented and trained independent agents who have done well and can provide you with quality service.

Bad Customer Support – This whole game survives on the customer as it is fully dependent on them. It is a complete misconception that the providers don’t want to provide good customer satisfaction.

Payments are Going Cashless – Across the developed world, plastic and digital payments are overtaking cash. Cash is falling out of favor and the customers are more likely to pay by credit cards or online wallets than ever before. Offering solutions to the customers should be a merchant’s top priority (in this case, service provider), however, the rise in digital payments has also led to an increase in fraud and chargebacks.

Not all Payment Processors are Equal – Like any other service, picking the right payment processor for your company requires due diligence. Payment processors offer different levels of service and technical expertise. Perhaps the biggest mistake one can make is to assume these services are standardized and pick the first one you come across. Dig deeper and try to find the right fit for your business.

Technical Support is Crucial – Technical support is like insurance, you don’t realize how important it is until you need it. A person needs a friendly and experienced team of professionals on call. Most of the payment processors offer 24/7 helpdesk handled by experts who can guide a customer through any query.

Consider Processor Fees – A cost-benefit analysis is another crucial part of running a business. Generally, a merchant service provider in this competition opts for the best rates and customer can benefit from this. The search for the cheapest payment processor has its own consequences. One needs to consider his margins, customer preferences, technical details, and quality of service before making a pick.

Merchant Specific Services – When a merchant comes to get payment services, each one of them demands specific services like the freedom to trade to some of the specific countries, selling more products than what the website mentions.

Customers Are Going Mobile So Are Merchant Accounts – 70% of shoppers and customers now use their mobile to buy services or items. The payments are going cashless as well as the merchant accounts. Therefore, to keep up with the market and remain competitive, one needs a payment processor that offers a reliable mobile payment platform.

High Risk Merchant Account for Ticket booking and Online Sales

When selling tickets online or booking through an online system you don’t just want a payment gateway but payment solution altogether. In these fast times, the payment gateway or a permanent merchant account for events business, which is a High-risk business is more profound as the customer is opting out for online payment. In this time of breakneck competition, the businesses have developed a trend of giving cash back and discounts of various types to the customers.

THE MERCHANT SHOULD ACKNOWLEDGE BELOW POINTS BEFORE STARTING THE PROCESSING FOR THE EVENT’S BUSINESS:

Accepts all payment modes (Cards, Net-banking, Wallets, UPI, etc.) and supports all banks. If a customer has money in any currency and wants to pay, you should be able to accept it.

Zero setup and maintenance charges – You only pay for how much you use.

Integration process – Rather than spending precious developer bandwidth on payment integration, spend the time building the product of your dreams.

A dashboard that helps you monitor exhaustive reports on payments and statistics that help you improve your business.

Simple pricing packages that make sense for your business.

BENEFITS TO LOOK FORWARD TO:

• Easy settlement into preferred Bank account.
• Easy integration.
• PCI-DSS compliant.
• Less time-consuming.
• Automated structure.

Here comes everything you must know-how when looking for a merchant account for online tickets business and payment gateway. But then, if anything comes across regarding security of payments or payout cycle or something that is more customer-centric you must find the best platform that compliments your business model.

Get Reliable E-Commerce Payment Gateways

“How to get access to the payment gateway and accept Visa, MasterCard, American Express and Discover” in simple words are, the business needs to establish a Merchant Account. But, this doesn’t the only solution as Merchant Account, is just the service that is provided by the banks that will help to accept the electronic mode of payment. Businesses can choose between the elaborate array of collections banks from across the world have ACH, Check Processing, Credit Card Acceptance, Point of Sale System, etc.

The choice of services sometimes creates a lot of confusion for business owners to choose the perfect services according to their business type and what are the exact requirements for the application of the Merchant Account. For the ease of business owners Merchant Stronghold, with their industrial experiences can help them to choose from the perfect option according to their business. For the application of Merchant Account the business owners need few of the basic documents:

Articles of Incorporation of the business, Tax documents, etc, Fictitious filings, etc

A letter that is specified with the details and nature of the business, Fulfillment Agreements, DBAs, etc

Address and ID proof of the owner(s). If the physical address of the business exists the proof of that also needs to be attached with the application. Utility Bill and Passport recommended.

Personal and/or Business Bank Statements, Tax returns are important. This provides financial strength and stability to the business.

Merchant Stronghold can help businesses to establish the Merchant Account and provide a gateway terminal to accept payments across the world. One thing that comes while collecting the payment of through electronic methods is the customers have the right to dispute the transaction if they are not satisfied with the merchant’s service they directly contact to the bank for the amount that the customer paid for the product or service that leads to Chargeback. Merchant Stronghold will help businesses to fight such situations with all the legal documentation about which businesses many times are unaware.

Easy To Get High-Risk Merchant Account for Jewelry Stores

There are a couple of reasons organizations in this industry are being tagged a high-risk business. Online jewelry stores regularly offer high ticket things and have large and vast transaction sizes. this comes under a risk excessive for a number of banks. It is also an industry that has a higher percentage of fraud. Regardless of whether it is by the merchant or the customer.

There are numerous merchants selling fake or bogus jewelry and there are also fraudulent customers who claim that the jewelry is fake, defective, or that they never get it. Banks do not want to support or sponsor businesses in an industry that has a background of chargebacks. As a result, regularly can’t stay secure by the organizations themselves. While these reasons make it harder for online specialists’ jewelers to get acceptance by processors, it is long from impossible.

We can get your online jewelry store up and process quickly. We help many high-risk merchants get accounts approval. And, can coordinate you with the appropriate processor that has some expertise in online jewelry merchants. We do all it takes to get your high-risk merchant account approval. And, we will work with you consistently. We specialize in difficult cases like this, so we are able to get approval ASAP.

Merchant Stronghold is the best High-Risk Merchant Account Provider in 2015, and 2016, Merchant Stronghold is focused on providing simple and affordable merchant accounts for the cosmetic and fine jewelry industry.

Payment Gateway for High Risk (Tech Support) Business

Gateway for Tech Support Business: Setting up a Tech Support company comes with a host of challenges. One of the biggest challenges is to find a merchant account provider for the tech support business. Instead of trying to find the lowest rates possible, you probably find yourself stuck searching for any service provider willing to set up the merchant account and pair it with an acceptable payment gateway.

It can help you to accept the payment online via card network and will allow your customers to pay online even miles away from you. You can obtain the payment from all over the world just by sitting at a single place.

How You Will Get Payment Gateway for Tech Support Business?

If you have decided to start your tech support business and have dealt with the formalities, as the next step, you will approach a well-liked bank or a processor to be able to accept payments from around the globe. Everything will be fine until you mention that your business is based on providing tech support, online, and you might get rejected. The reason is simple — the bank does not want to deal with your application because it sees tech support as a non-secure industry. The same scenario happens if you approach other popular processors.

As soon as you confirm that you have a tech support business, chances of getting a payment gateway and merchant account get slimmer. So, what’s the solution here?

Merchant Stronghold Will Save Your Business

Merchant Stronghold is your savoir when it comes to seizing a payment gateway for technical support business. It helps a lot of businesses to receive payments from all over the globe for technical support services. It supports all the currencies, which is important for a business with a global reach. So, if you own a tech support business, you can apply for a payment gateway in just a few minutes. When compared to the other competitors, Merchant Stronghold is definitely the better option.

You just have to contact Merchant Stronghold experts with the information concerning your business. Our experts will soon get in touch with you, where there will be a discussing your needs, requirements and what are you expecting from a payment gateway. In just a few days, you can start receiving payments from your customers.

We hope you will choose the right merchant service provider as a Payment Gateway for Tech Support business. Merchant Stronghold is always available to provide you with the best services. Just visit our website and fill the application form. You can also contact us through email or phone number +1 (888) 622 – 6875 and talk to our experts at any time of the day.

What are the basic needs for an online payment gateway

Merchants Have Three Basic Needs For an Online Payment Gateway

The first is security and anti-fraud protection. Protecting your business and protecting your customers is a cornerstone of a successful business. Once incident can wreck your potential and reputation.

The second need is for the payment gateway to be user-friendly. Not only does it need to seamlessly integrate into your website and merchant account but it needs to be customer-friendly so that your customers do not become frustrated and give up on buying your products.

Lastly, you have to find the best rates. Business-friendly rates regarding transaction volume and transaction fees can make or break your margins. Finding the right balance of security and financial acuity is critical for any payment gateway.

Documents needed when applying for a high-risk payment gateway

To begin taking payments via a high-risk payment gateway, fill out Merchant Stronghold quick and simple online application. Though nothing is guaranteed, Merchant Stronghold promises a fair process.

In addition to the application, the following documents must be submitted to processors:

• A valid, government-issued ID, such as a driver’s license or passport
• A merchant account
• A secure, working website with terms and conditions
• Three months of the most recent bank statements
• Three months of the most recent processing statements, if applicable
• SSN (Social Security Number) or EIN (Employer Identification Number)

Business Documents and KYC

• 3 months recent prior processing statements for all products intended on being processed through the merchant account (If applicable)
• 3 months of recent business bank statements. (If a new business, the merchant should be able to show financial stability to support the startup/operation of the business or personal bank statements.)
• Prior years and year-to-date business financials (Prior years audited financials required if available)
• Website or Marketing materials (Print ads, brochures, etc.) if mail order/telephone order sales
• If product/service being sold and not owned by a merchant, reseller agreements should be provided
• Articles of incorporation/articles of the organization showing the ownership of the entity associated with the merchant account

Getting Cheapest Payment Gateway Is Not Good For Your Business

Cheapest Payment Gateway – Today there are so many options available to choose for payments; bank transactions, credit/debit card payments for your business. It can become very difficult to choose from the options available. However, the truth is not all payment gateways are reliable for your business. If you are a merchant who is setting up a new business and will be dealing with daily transactions then it is very important for you to have full knowledge of the suitable payment gateway for your business. There are a lot of points to consider while choosing the right payment gateway.

You might find a “cheaper” payment services provider, but there could be hidden charges too. You might choose a cheaper payment gateway, but choosing the cheapest one is not always the best option.

WHY THE CHEAPEST PAYMENT GATEWAY IS NOT THE BEST ONE FOR YOUR BUSINESS?

Cheapest payment gateway does not always deliver as they promise. They use different tactics to entice merchants. These could be very problematic for the health and reputation of your company.

Cheap Payment Gateway usually puts attractive advertisements with lowest pricing rates and other services to attract potential clients, but there come hidden fees with it.

If you want to expand your business and sell your products and services globally, some payment gateways will charge higher fees when you sell in other currencies.

Cheapest payment service providers may give you a headache due to lack of proper secure payment service. However, with the best payment gateways, you will not have to worry about PCI compliance, anti-fraud tools, and security issues.

The cheapest payment gateway cannot be an outstanding service provider. If some fraudulent transaction or something unexpected happens, they will fail to resolve your problem quickly or they may charge a very high fee for the assistance with it.

Most payment service providers hold your credit card data hostage. For example, you have several thousands of credit card details of customers that you may not be able to transfer. Now, in case you want to switch to other payment providers, you might not have the option of retrieving this data and take with you. In that case, you will have to ask all these customers to fill their information again and could cost you a lot of money in attrition and in the process you might lose the trust of your customers.

Cheapest payment gateway offers only one or two payment services, requiring you to hire your own vendors, maintain multiple relationships with other online security providers.

Hence, for the security and growth of your business, choose the “right” payment gateway instead of the “cheapest” payment gateway.

In case you want to know more, you can always get in touch with Merchant Stronghold. You can contact us through email or phone number +1 (888) 622 – 6875and talk to our experts at any time of the day.

Tips to Streamline Credit Card Payment Services

We help you get the best merchant processing services by evaluating your business closely.

Seamless Site Navigation

Generally, a customer explores a lot before making a purchase. Especially when they are trying your services for the first time. In such a case, you can offer smooth navigation while jumping from one product to another product as easy as possible.

Ask the customer to add the items they like to add to the wish list.

The products that a customer sees should appear on the recently viewed panel.

Jumping between the products should be easy and more manageable.

Make it easy for the customer to purchase the product whenever or wherever they are. This helps you streamline online payment services and make more profit.

Availability on Different Devices

There was a time when most of the navigation and internet surfing used to be carried out on the desktops. Nowadays, people use smartphones and tablets for online surfing and purchase. However, many of the users still navigate using the PC.

The matter is to make your website or platform easily available on the device.

Also, Smartphones and Tablets are also available in different screen sizes.

Make sure your website is responsive and works on different devices including Smartphone and computer.

You can also get a designer who can customize the website as per your requirements to get the streamline online payment services.

Offer the Best Customer Security

A customer has a higher chance to make a purchase when they clearly understand the policies. And it is a merchant’s responsibility to convey the terms and conditions to the customer.

Make sure the refund and return policies are clearly listed on the website.

If you are asking for personal details such as contact number, email address and residential address then make sure you keep this information safe and inform the customers about the same.

Furthermore, in case of a refund, make sure your finish the case in stipulated time.

Ask for an Expert’s Advice

The above-listed methods are very general. But if you are looking for the methods that fit your business processing then you can ask an expert to guide you. Earning profit is very important in the business and Merchant Stronghold can help you with that. 

Simply place a call at the toll-free number +1 (888) 622 – 6875 or access the email support now. We specialize in high-risk business and help you get the best merchant services.

Merchant Account & Payment Gateway Integration Identity Restoration Business

Fees associated with a merchant account

Cancellation fee: It is charged when you send your contract with an online merchant account before the due date of your contract. Not all the providers require a contract, but those who have this police ask for the cancellation fee.

Chargeback fee:

When money is returned to the customer. This fee is initiated by the bank of your customer, often because of fraudulent transactions. Chargeback is one of the reasons why merchants around the globe lose thousands of dollars. It is a fee that merchant account providers take for processing the chargeback request.

Gateway Fee:

It is a monthly fee to keep your merchant account. This fee is charged to maintain your online merchant account. Some online payment gateways don’t charge money, while others may charge as much as $20.

Monthly minimum:

This is the amount your account is required to process on monthly basis. The fee is charged to maintain the account, but if you don’t exceed the minimum, then merchant account providers will charge you accordingly.

Statement fee:

A statement fee is charged by all the online merchant account providers. This fee is associated with your statement and it is taken at the end of the billing cycle. You will pay between $7 and $10. It is charged when you get a paper base or paperless statement.

Transaction fee:

As the name suggests, it is a fee that is charged every time a transaction is processed. Usually, it is between 20 and 25 cents. This fee remains same no matter how big the transaction was.

Merchant Stronghold understands that your Identity Restoration services require customized account so that you can run your business flexible. Keeping the needs of your business into consideration, we have designed a system that offers minimum fees and maximum benefits. Above mentioned fees are charged by many companies, but we have our own set of rules, you can contact us and we will inform you how much you will be charged.

How To Choose A Best Credit Card Processing Company

For any ѕmаll business, сhооѕing thе right сrеdit саrd рrосеѕѕing company dоеѕn’t hаvе to bе diffiсult. Stаrt with a few ѕimрlе questions. Cаn they wоrk with mу buѕinеѕѕ? Do thеу fit in with mу process, еxiѕting technology etc.? What will I bе charged? Cаn I rеlу оn a customer service team tо troubleshoot tесhniсаl рrоblFееѕ

Thinking lоngеr term iѕ imроrtаnt. Sеlесting thе right credit card processing company is аbоut саrеfullу weighing thе pros аnd cons оf аll орtiоnѕ available to уоu. Tоdау, there are mоrе орtiоnѕ thаn еvеr.

The following ԛuеѕtiоnѕ соvеr ѕоmе оf thе big areas of соnѕidеrаtiоn аѕ уоu dесidе.

Arе Thеу Cоmраtiblе with Yоur Business Nееdѕ?

First thing’ѕ first. Yоu nееd to knоw if уоur сrеdit саrd рrосеѕѕing company оffеrѕ what уоur business nееdѕ. Options аrе еvеrуwhеrе today. Diffеrеnt options solve fоr diffеrеnt needs. Sо what’s your buѕinеѕѕ—еCоmmеrсе wеb ѕitе, brick аnd mortar store, lаrgе business, small buѕinеѕѕ or ѕоmеthing in bеtwееn? Lооk for a сrеdit card processing соmраnу whоѕе mеrсhаnt accounts, ѕеrviсеѕ and ѕоlutiоnѕ, are tаilоrеd to уоur ѕресifiс business type. Whеthеr you’re a grocery ѕtоrе, рhаrmасу оr restaurant or аn еCоmmеrсе ѕtаrt-uр or nоn-рrоfit, уоur сrеdit саrd рrосеѕѕing соmраnу ѕhоuld fulfill уоur nееdѕ.

Hоw Muсh Dоеѕ it Cost?

Thеrе’ѕ оftеn a lоng liѕt оf additional fееѕ that come with credit саrd processing. Diffеrеnt сrеdit card рrосеѕѕing соmраniеѕ charge diffеrеntlу. However, some соmраniеѕ might charge muсh less thаn оthеrѕ while оffеring thе ѕаmе рrоduсtѕ аnd lеvеl of service.

Hеrе are some of thе main сrеdit card рrосеѕѕing fееѕ tо lооk оut fоr: