How A High-Risk Merchant Account Can Help Your Business

High-risk merchant accounts come with a variety of services, and depending on your current situation, some may be more useful than others in the short-term. Nonetheless, it is always advisable to take advantage of all the services for long-term business success. Below are some of the top services rendered by merchant accounts, and how they might be of help to your high-risk business.

  1. Payment processing

Because of the many payment methods at a customer’s disposal, a merchant should be equipped to accept money in whatever form presentable. Consequently, processing payment is one of the biggest challenges faced by high-risk businesses.

Luckily, signing up for a merchant account gives you an easy way to handle payments made through different ways; including credit and debit cards, a shopping cart on an app or website, mobile payments, or recurring billing.

Some providers, such as eMerchantBrokerwill even offer international high-risk accounts to eligible online merchants. On top of basic card processing, an international account adds multi-currency processing and settlements and foreign entity creation. A merchant account will, therefore, help you boost your sales both locally and overseas, by ensuring that all the popular ways of making payment are available to customers.

  1. Gateway services

Although the strength and flexibility of the payment gateway vary with the provider, a general high-risk merchant account allows you to customize your payment profile depending on the needs of your business and your customers.Many merchant account providers offer payment processing solutions for physical retail stores, as well as reliable payment gateways for the online trader.

With a payment gateway, online transactions will take place through a secure channel that ensures the protection of all sensitive card information.

  1. Fraud management services

A good merchant account provider will always throw in fraud mitigation tools to provide a safe way of accepting electronic payments.

            These services can include:

  • On-Hold functionality – Allows you to set a timeframe, during which a transaction will remain on hold until you manually review it.

  • Transaction filter – Prevents malicious persons from testing card numbers on your payment gateway by automatically declining further entry after multiple failed attempts from a specific IP address

  • Reputation database – A gateway can come with a comprehensive list of fraudsters, which you can use to qualify transactions. If a buyer is in the database, the gateway gives you the option to reject the purchase

  • Chargeback Shield – High-risk business are widely susceptible to chargeback fraud, where a buyer wrongly disputes a purchase to get their money back while keeping the purchase. Merchant accounts have effective chargeback shield services, which allow you to catch chargebacks before they materialize.

Although there are other means of processing payment available for your risky business, a high-risk merchant account is really the best way to go.

Best Conversion Strategies For Mobile And Online Payments

1At the recent Card-Not-Present Expo, the best conversion strategies for mobile and online payments were discussed. Today, the issue ofhow to reduce checkout abandonment and maximize conversion on eCommerce platforms is among the major problems concerning merchants.

The CNP Expo attendees were interested in issues concerning shopping cart abandonment. The latter is associated with a customer shopping around, trying to find the best price, and ensuring he/she wants to buy a particular merchant’s product. This is the case when a customer has decided on a specific purchase, starts to pay, and then suddenly walks away because of this or that reason.

According to Scott Fitzgerald, senior vice president of marketing at BlueSnap, checkout abandonment can be caused by the so-called “false negatives,friction, and confidence issues.”

As Rob Marriott, international payment consultant at IngenicoePayments, notes up to 57% of customers will abandon checkout if they find out their preferred payment method cannot be accepted.On the other hand, customer frustration can also be caused by erased data during the checkout process.This is based on the research done by IngenicoePayments.

It is critical for merchants turn to a reputable payment processor to get the best for their business needs. With First American Merchant (FAM), you can enjoy exceptional processing services for mobile and online payments. High risk processorFirstAmericanMerchant.com provides secure payment gateways and First American Cash Advance for merchants doing business online.

Another interesting remark was made by Colin Luce, head of sales andbusiness development atKlarna, a Swedish eCommerce company. It turns out dopamine reaches its culmination at the moment of deciding to make a purchase. Then, it fades as the consumer actually pays for a product. Also,if the customer has to submit his/her card number to physically complete the purchase on a mobile device, it can be rather difficult.Luce further notes that any opportunity to minimize keystrokes will lead to increased conversion.

According to Fitzgerald, merchants should spend as much time and finances building and testing their checkout page as invest in creating their home page, which will eventually reducefriction.Additionally, Joe Walent, panel moderator, and senior analyst at Mercator Advisory Group, recommends merchants to use their checkout page as a means to reinforce brand experience.

Enhance Your Business with a Professional Answering Service

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If you own a business, you know that making a good first impression is a very important component of attracting and keeping clients. While the Internet is part of the business world now, there are still many people who prefer to communicate over the phone. No matter what industry you are in, it’s important for your customers to have the means to contact your business via phone and get the help or information they need. If you are starting a new business and don’t have a receptionist yet, or if your current staff is overwhelmed, an answering service could be a great help to your business.

How an Answering Service Works

An answering service works well for many businesses. When you hire an answering service, you are connected with a team of professional receptionists who will answer all your calls with your company’s name and information. Essentially, you get a receptionist for every call without worrying about after-hours calls or overwhelming call volume during busy seasons.

Benefits for New Businesses

There are many benefits to hiring an answering service for your company. If you are just starting a new business, you probably have all your business calls routed to your mobile phone. This can be fine during business hours, but can quickly cause problems when you have to turn off your phone for meetings or to take clients to lunch. A virtual answering service solves that problem by taking your business calls whenever you desire.

You can choose to have all business calls routed to the service, or only route calls there when you are unavailable. People usually associate a professional receptionist with personal service and large, successful business, so an answering service can help your new company get off to a great start. It may even be more affordable to hire an answering service than to keep an in-house receptionist.

Benefits for Established Businesses

Even if your business is already successful and you have a full-time receptionist, a telephone answering service can still provide benefits for you. As the business world moves closer to a 24-hour-per-day operating schedule, you may be worried about your customers calling after traditional business hours and getting a voicemail machine. You could solve this problem by hiring an answering service to take calls during certain hours of the day or night, which allows your receptionist to have a lunch break and leave on time every night. It also means you don’t have to look for a temporary employee when your receptionist is out sick or on holiday.

If you work in an industry where there are busy seasons, you may worry about missing calls due to high volume. This is another area when an answering service can be extremely helpful. Whereas you may only have a single in-house receptionist, an answering service employs many people to serve as virtual receptionists for your business. No matter how many calls your business gets during the busy season, you can be confident they will be answered in a timely and professional manner.

Answering Service Options

One of the best things about a virtual answering service is that you can customise it to fit the exact needs of your business. You can choose when calls are routed to the service and advise the virtual receptionists about how you want calls to be answered. Receptionists can take messages and forward them to you, or transfer calls straight through to whomever you specify. Some answering services also offer specific types of call handling, such as emergency response. This type of service can be wonderful for businesses that have on-call personnel 24 hours a day. The answering service can accept all calls and forward the urgent ones to your on-call personnel, while taking messages for any calls that are not of an emergency nature.

Additional Call Services

Some answering services offer additional options along with handling calls. You may be able to find a service that provides outbound calling to help your business with certain tasks. For example, if your business maintains a database of potential clients, you may hire a service to follow up with those contacts. If your customer database hasn’t been updated in a long time, that is another opportunity for outbound calling. Your answering service can help keep your database up to date with current information, as well as checking for duplicates or any incomplete entries. If part of your business includes any sort of outbound marketing, you can hire an answering service to perform these calls for you. This leaves you free to concentrate on your business, and also ensures your in-house employees are not overwhelmed with too many tasks.

How to Choose the Right Answering Service

Since answering services came into existence several years ago, there are more companies entering the marketplace all the time. When you are looking to hire an answering service for your business, it can be difficult to choose the right one from among the range of choices. There are a few things you can look for to help you choose a reliable company. One of the first things you should verify is that the answering service has all the options you want for your business. If you want a service to simply answer your phone calls and take messages after hours, you should look for a company that will provide the best value for a limited range of services. However, if you are looking for a highly customisable answering service with several options, or special choices such as outbound calling, you may have to look harder to find a company that will suit your needs.

Another thing you should look for is a company that is willing to work with you to meet all your needs. This could mean offering customisable services, or allowing you to change the level of service for your business during the holidays or a busy season. A company that offers a free trial of its service shows that it really cares about its customers and values good business practices.