Most of the business fraternity have increased levels of fraud which is caused by theft of cards and setbacks. Also, the problems the business will undergo when trying to be accepted by clients. This will force the proprietors to look for accounts which will offer amenities with minimal if not no loss at all to save their businesses. This will assist to improve the security and lower the struggle when losses are incurred. Below are the reasons why your application for the high risk merchant account Canada will not be accepted.
You must be a licensed business proprietor. Most of the small businesses will operate without licenses thus lowering their production cost. However, for you to qualify for the high-risk merchant, your business has to be a licensed one. Also, the license will show where exactly the business is located and what kind of business it is, in the sense of what products they do sell.
Assess whether your entity has a top possibility of having merchant fraud. The service providers who are looking forward to owning such accounts must be wary of such frauds more that the low-risk counterparts. The providers offering such services will look out for measures in place to counter and stop such issues in the work areas.
Do you have extreme chargebacks? Well, no service providers will accept to join a company that has a lot of chargebacks. For this reason, you should invest in the company that has many disputed transactions; its success will be more limited and so its growth. So reduce the duration that you have for the chargebacks and increase the chances of acceptability by the service providers.
Banks will look at high customer transaction decline rates. Whenever a customer shops with your company, their bank can decline certain transactions due to issues such as incorrect information and also the violation of anti-violation rules. While such problems are unavoidable in most instances; they have serious repercussions if they are often. If a top proportion of your transactions are declined, you could be declined the application.
You should not have inappropriate sales quantities. For you to be able to work with the account, you should be handling large volumes of sales. The volumes should, however, be the truth about your business. If there is a probability that the sales volumes are not true and inappropriate, then there is a greater chance that your application will be declined.
Make certain that you have all the necessary documents. Whenever you are applying for any post or position or ownership, you have to present the necessary documents to back you up. The banks will be looking out for such papers. In this case, you will have to give accurate information regarding the business for instance accurate financial statements and books.
Take care not to get into the MATCH (member alert control high risk) list. This is a catalog of all the wrongdoers that is offenders of money laundering, transactions that do not follow the law, collusion, and fraud to name just a few. If you appear in this list, then you will not be able to get an account for not led then five years.
You must be a licensed business proprietor. Most of the small businesses will operate without licenses thus lowering their production cost. However, for you to qualify for the high-risk merchant, your business has to be a licensed one. Also, the license will show where exactly the business is located and what kind of business it is, in the sense of what products they do sell.
Assess whether your entity has a top possibility of having merchant fraud. The service providers who are looking forward to owning such accounts must be wary of such frauds more that the low-risk counterparts. The providers offering such services will look out for measures in place to counter and stop such issues in the work areas.
Do you have extreme chargebacks? Well, no service providers will accept to join a company that has a lot of chargebacks. For this reason, you should invest in the company that has many disputed transactions; its success will be more limited and so its growth. So reduce the duration that you have for the chargebacks and increase the chances of acceptability by the service providers.
Banks will look at high customer transaction decline rates. Whenever a customer shops with your company, their bank can decline certain transactions due to issues such as incorrect information and also the violation of anti-violation rules. While such problems are unavoidable in most instances; they have serious repercussions if they are often. If a top proportion of your transactions are declined, you could be declined the application.
You should not have inappropriate sales quantities. For you to be able to work with the account, you should be handling large volumes of sales. The volumes should, however, be the truth about your business. If there is a probability that the sales volumes are not true and inappropriate, then there is a greater chance that your application will be declined.
Make certain that you have all the necessary documents. Whenever you are applying for any post or position or ownership, you have to present the necessary documents to back you up. The banks will be looking out for such papers. In this case, you will have to give accurate information regarding the business for instance accurate financial statements and books.
Take care not to get into the MATCH (member alert control high risk) list. This is a catalog of all the wrongdoers that is offenders of money laundering, transactions that do not follow the law, collusion, and fraud to name just a few. If you appear in this list, then you will not be able to get an account for not led then 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.
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