Many businesses operate transactions that come with high levels of fraud cases through stolen cards and chargebacks. Moreover, the risk businesses may also face a high problem in gaining acceptance. That makes business owners look out for a special account where they can get services with minimal risks and save their businesses from losses. Such platforms will heighten the issue of security and also lead to minimal hassle when chargebacks happen. The article highlights reasons your application for the high risk merchant account Canada could be declined.
You could be having licensing problems. If you have to apply for such accounts; you must be operating a licensed business. For most entities, that can be as simple as having a business permit. However, for companies operating gambling sites and sensitive businesses such as pharmacies are strict regarding permits as they have to dictate where they operate their businesses and the kind of products they deal with at all times.
Is your business a high-risk area for fraud? Well, you have to do an evaluation on that entity and discern whether it is a high risk of fraud. Anyone in the entity or planning to start one should try and know the best way to mitigate the risks and also know how to counter the fraud in cases where it may prevail.
Look out if you have excessive chargebacks. These services offer more freedom to organizations that deal with many disputed transactions. The same principle will apply to those entities that offer services such as automated recurring billings and annual memberships. That helps to increase the duration where an organization is prone to chargebacks. Nevertheless, there is certain threshold that, most service providers will not cross. As such, to increase chances of acceptability, avoid having excess chargebacks.
The will always check on high fall rates of your transactions. If a client in your organization shops for the entity might decline any transaction if the data were given is not correct and does not follow the anti-violation rules. Sometimes the issues can not be avoided but this could of great significance to your company. If there is a huge transaction that has been declined, then there is a greater chance that your application will be declined.
How sound is your sales volume? For your application to be successful, your sales volume has to be appropriate. For you to own your account, you have to have the capacity to run large sales volumes and also be very transparent making you viable for ownership. Always give an accurate figure of all the sales and also update them on any changes in your business.
Ensure you have all the necessary documents. Banks are looking for clients who will give proper documents. During the application process, give accurate and up-to-date details of your business. Update them of any omissions on time. Always give up-to-date monthly statements of your business and show all the volume of sales on time. That will ensure you mitigate all chances of being declined.
Always avoid getting into the MATCH (Member Alert Control High Risk) list. This is a list catalog of all the offenders of money laundering, illegal transactions, collusion and fraud among others. If your business makes an appearance on such a list, you stand a chance of failing to get such an account for up to five years.
You could be having licensing problems. If you have to apply for such accounts; you must be operating a licensed business. For most entities, that can be as simple as having a business permit. However, for companies operating gambling sites and sensitive businesses such as pharmacies are strict regarding permits as they have to dictate where they operate their businesses and the kind of products they deal with at all times.
Is your business a high-risk area for fraud? Well, you have to do an evaluation on that entity and discern whether it is a high risk of fraud. Anyone in the entity or planning to start one should try and know the best way to mitigate the risks and also know how to counter the fraud in cases where it may prevail.
Look out if you have excessive chargebacks. These services offer more freedom to organizations that deal with many disputed transactions. The same principle will apply to those entities that offer services such as automated recurring billings and annual memberships. That helps to increase the duration where an organization is prone to chargebacks. Nevertheless, there is certain threshold that, most service providers will not cross. As such, to increase chances of acceptability, avoid having excess chargebacks.
The will always check on high fall rates of your transactions. If a client in your organization shops for the entity might decline any transaction if the data were given is not correct and does not follow the anti-violation rules. Sometimes the issues can not be avoided but this could of great significance to your company. If there is a huge transaction that has been declined, then there is a greater chance that your application will be declined.
How sound is your sales volume? For your application to be successful, your sales volume has to be appropriate. For you to own your account, you have to have the capacity to run large sales volumes and also be very transparent making you viable for ownership. Always give an accurate figure of all the sales and also update them on any changes in your business.
Ensure you have all the necessary documents. Banks are looking for clients who will give proper documents. During the application process, give accurate and up-to-date details of your business. Update them of any omissions on time. Always give up-to-date monthly statements of your business and show all the volume of sales on time. That will ensure you mitigate all chances of being declined.
Always avoid getting into the MATCH (Member Alert Control High Risk) list. This is a list catalog of all the offenders of money laundering, illegal transactions, collusion and fraud among others. If your business makes an appearance on such a list, you stand a chance of failing to get such an account for up to five years.
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You can find a detailed list of the benefits you get when you use high risk merchant account Canada services at http://highriskpaysolution.com/creditcardmerchantaccount today.