Merchants Considered High Risk Face Various Challenges
Suppose a merchant is considered high risk by financial institutes. In that case, they can face several difficulties on their business journey, including not getting a merchant account, not getting a good loan, paying high business insurance premiums, etc. But since we are talking about merchant services here, let's see some of the challenges you can face as a high risk merchant:
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Challenge#1: Your Merchant Application Was Rejected, or Your Account Got Terminated
Processors put all kinds of merchants in the high risk category. If your account got rejected or terminated, Shaw Merchant Group can help you get a new processor and reinstate it. We have a massive network of processors that allow us to find the perfect solutions for merchants and their businesses.
Besides incredibly fast merchant account approvals, we also assign an account manager to merchants that will stay with them throughout the life of their account. The key goal of Shaw Merchant Group is to establish a transparent merchant processing partnership with our clients.
Challenge#2: Low Credit Score
One of the challenges that merchants face in obtaining an account is a low credit score, either their business's or their own. Because of this, they are considered high risk, and their application is either rejected, or their account gets terminated.
We can help you acquire various forms of payment solutions, including card machines, e-commerce gateways, mobile pay options, mail orders, or even telephone orders at incredibly competitive prices.
Challenge#3: You're in a High-Risk Industry
You might not have any credit problems, but your business may be in one of the industries that are considered high risk. These include gaming, bail bonds, online electronics, fortune-telling, firearms, MLMs, and more. In this case, you will find it very difficult to place a merchant account despite having a good business reputation and standing with financial institutions.
If that's the case, we can provide you with various solutions, including crypto payment processing, shared or offshore hosting accounts, ACH & Echeck processing, and high-speed ACH. Nevertheless, we will still keep trying to have your merchant account approved parallel to offering these solutions
Challenge#4: You Need a Multi-Currency Merchant Account to Accept Several Currencies
Digitalization around the globe has increased the boundaries of businesses, removing the geographical limitations and allowing them to sell to the whole world. We help high risk merchants across the globe set up multi-currency merchant accounts allowing them to get paid in various currencies; even in virtual currencies, if they want.
We have a 1-on-1 consultation process that carefully looks at the needs of merchants and reviews all application process aspects to maximize the chance of approval.
Challenge#5: As a High Risk Merchant, Your Rates and Reserves Are Through The Roof
Most of the time, processors put very high rates on high risk merchant accounts, leading to reduced profits. With our years of experience working with various merchant portfolios, you can rest assured that your high rates will go down. Furthermore, we will do the extra work of developing risk management tactics to ensure your low processor rates stay that way.
Moreover, suppose a payment processor asks for a cash reserve. In that case, we will help you determine exactly how much money is needed in reserve and develop an actionable plan to reduce the reserve over time.
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Challenge#1: Your Merchant Application Was Rejected, or Your Account Got Terminated
Processors put all kinds of merchants in the high risk category. If your account got rejected or terminated, Shaw Merchant Group can help you get a new processor and reinstate it. We have a massive network of processors that allow us to find the perfect solutions for merchants and their businesses.
Besides incredibly fast merchant account approvals, we also assign an account manager to merchants that will stay with them throughout the life of their account. The key goal of Shaw Merchant Group is to establish a transparent merchant processing partnership with our clients.
Challenge#2: Low Credit Score
One of the challenges that merchants face in obtaining an account is a low credit score, either their business's or their own. Because of this, they are considered high risk, and their application is either rejected, or their account gets terminated.
We can help you acquire various forms of payment solutions, including card machines, e-commerce gateways, mobile pay options, mail orders, or even telephone orders at incredibly competitive prices.
Challenge#3: You're in a High-Risk Industry
You might not have any credit problems, but your business may be in one of the industries that are considered high risk. These include gaming, bail bonds, online electronics, fortune-telling, firearms, MLMs, and more. In this case, you will find it very difficult to place a merchant account despite having a good business reputation and standing with financial institutions.
If that's the case, we can provide you with various solutions, including crypto payment processing, shared or offshore hosting accounts, ACH & Echeck processing, and high-speed ACH. Nevertheless, we will still keep trying to have your merchant account approved parallel to offering these solutions
Challenge#4: You Need a Multi-Currency Merchant Account to Accept Several Currencies
Digitalization around the globe has increased the boundaries of businesses, removing the geographical limitations and allowing them to sell to the whole world. We help high risk merchants across the globe set up multi-currency merchant accounts allowing them to get paid in various currencies; even in virtual currencies, if they want.
We have a 1-on-1 consultation process that carefully looks at the needs of merchants and reviews all application process aspects to maximize the chance of approval.
Challenge#5: As a High Risk Merchant, Your Rates and Reserves Are Through The Roof
Most of the time, processors put very high rates on high risk merchant accounts, leading to reduced profits. With our years of experience working with various merchant portfolios, you can rest assured that your high rates will go down. Furthermore, we will do the extra work of developing risk management tactics to ensure your low processor rates stay that way.
Moreover, suppose a payment processor asks for a cash reserve. In that case, we will help you determine exactly how much money is needed in reserve and develop an actionable plan to reduce the reserve over time.
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