Providers determine your websites credit card processing rates by a variety of factors. The first factor to consider is are you a new business just getting started with no processing history or are you an established business with years of processing history. If you are an experienced e-tailer and have been taking credit cards before you will qualify for the best rates possible. This because the bank the new bank, want your business and is willing to compete and offer you a lower and better deal than what you have now. Our company can analyze your merchant processing statements and reduce your fees and transaction rates. We can also offer lower monthly fees, Gateway processing fees, and a lower discount rate than what you are paying now. If you are new business however we will offer you the best possible rate we can to win your business. But because you're a new business there is more risk involved to the bank so therefore you will probably have to pay a slightly higher rate until you develop a history of credit car processing and have establish your business with low chargebacks. Now also what determines the rates you are charged by the merchant bank are the classification of your business and risk level. Fortunately our company handles both low risk and high risk e-commerce credit card processing services. High risk deals with the nature of the business and what the likelihood of risk level is involved.
How Fees are Determined
To explain more about high risk versus low risk we need to understand that the merchant processing company is actually taking a lot of risk when dealing with a new business or an established one. There are issues that come up including chargebacks, merchant fraud, and bankruptcies. For example say a business has high dollar amounts that they process through on a debit or credit card. Maybe the amount is 5000 or 10,000 at a time and maybe it takes several months to deliver the product. The customer doesn't receive their merchandise for a while now say the business goes bankrupt. The customer is going to dispute the charge on their credit card but the merchant has received their funds. The bank now has difficulty and is at a loss. It may need to go through attorneys to recoup losses. Or say for example a collection agency, by definition their customers are unable to pay their bills so these are extremely high-risk businesses that can result in losses for the bank. So the merchant credit card processing company has to factor these issues in an risk levels when determining rates. Fortunately we handle both low risk and high risk businesses. We can offer you the cheapest rates compared to other some other services and companies. We can also give you guidance on best practices on keeping your chargeback levels low. The lower chargebacks you get the lower risk involved there is for the bank and the more willing they will be to offer cheaper fees and cheap credit card processing services.
To get started, we will need more information about your website business. You will need to fill out an application and provide some documentation about your business. We may also need financial statements and bank statements that show you are a solid business. You may also have to post return policies clearly on your website. Additionally privacy policies should also be posted. We recommend you call us and speak to a friendly knowledgeable agent would many cases has processed credit cards on their own websites in the past. Rather than deal with a salesperson who just take your call but doesn't understand much of anything else, let's offer a solution to you based on your company and your needs.