A High Risk Merchant Account allows a business
to accept credit cards, debit cards and other
forms of payment. This process has many pseudonyms,
among them, payment processing or credit card
processing. Merchants, or business owners who
wish to accept credit card payment for goods and
services, must apply for a merchant account, usually
through a merchant bank or MSP (Merchant Service
Provider).
A financial institution that provides customers
with the ability to process credit card transactions.
Acquiring banks are charged by Visa and/or MasterCard
for processing and these charges are passed along
to the merchant.
At IronBilling, we work directly with merchants
to get sites in compliance with bank regulations
as quickly as possible. 3 to 5 business days is
a typical approval process timeline, providing
IronBilling has all the necessary documents at
its disposal. A brand new business may take a
bit longer, owing to the need to assess business
risk and identify any requirements unique to a
particular merchant account. Switching to IronBilling
from another processor is a simple affair, and
switching merchants can anticipate a quicker turnaround.
Once you sign up with IronBilling, you can begin
accepting credit card payment, either online or
virtual terminal (to process orders via phone
and mail). The transaction is approved electronically,
we processed and deposited into your bank account
weekly.
Through transaction approval, an agreement between
consumer and merchant is reached. The consumer
agrees to pay for goods. In exchange, the merchant
agrees to deliver them as advertised. A merchant
is subject to penalties for non-delivery, or if
goods are services are determined to be faulty.
Consumers are permitted to request a refund for
purchase from their credit card company at any
time. This is called a chargeback, and they are
hefty concerns for merchants.
Chargeback risk varies, depending on numerous
factors including industry, product, service and
the degree to which goods are delivered as promised
or as advertised. Sadly, there is no way a credit
card system can ascertain the level of a merchant’s
end-user commitment, so it is vital that merchant
accounts remain in good standing with the sponsoring
bank as well as all parties involved. All fraud
protections are in place to protect both consumer
and merchant.
At the end of the day, the main goal of the credit
card processor is to act as a conduit, connecting
Merchant and Customer to one another while providing
a safe, efficient forum for the purchase and sale
of goods.
Online processing bears a striking resemblance
to any offline, brick-and-mortar retail shopping
experience. Consumers browse through products,
place items they wish to purchase in a “shopping
cart,” and proceed finally to a checkout
screen. IronBilling processes all sales in a secure
environment. Consumers enter their credit card
information; transactions are scrubbed for fraud
and authenticity; and in the end, end-user and
merchant are notified of a successful transaction.
IronBilling then deposits funds collected from
the sale into your merchant account.
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As soon as a buyer places an order, you can view
the order inside your merchant panel and manage
it as per your need, detailed records of each
transaction are also stored on our servers and
can be accessed by you for the purpose of filling,
tracking and managing orders.
Processing and services costs are variable, and
dependent mainly on assessed merchant risk and
transaction volume.
Payment are weekly with 2 week arrears.
Yes. IronBilling offers all merchants the option
of opening direct merchant accounts with unique,
personalized billing descriptor, but to achieve
your own descriptor you need to process minimum
2, 00000 USD on monthly basis at least.
We specialize in offshore merchant account services
and merchants all over the world are welcome here.
No! With IronBilling, there are no barriers to
your success. No monthly minimums or maximums
will be imposed on your merchant accounts ever.
Almost any business is qualified to process with
IronBilling high risk merchant account
