ECommerce Merchant Accounts
Ecommerce has drastically changed the goods are bought and sold. Selling everything from groceries, guns, medicines and concert tickets.
No longer required to leave the comfort of your own home to find the items you want or need websites have become the go to way to shop for all of your needs and wants.
By simply entering you credit card details into a secured web form. The entire process it taken care of online, business received your orders, pack them and send them to the consumer.
However with the ease of online consuming companies are subject to fraud from not using present card sales along with many other problems causing "chargebacks" which can place your company into the High-risk category making it difficult to find a credit card processor who do not wish to work with these issues.
Why is Ecommerce High Risk?
The lack of a physical location means companies cannot take credit cards In person. Being the case most customers share their card info over the phone or with a secured web form. With this companies providing services this way are subject to higher rates of theft and fraud.
While these companies still have a physical location to work these places are not walk in locations for customers to come and browse and purchase products. The lack of walk in locations may lead banks and low- risk Credit card processers to feel there is no community ties leaving the company with little to lose should the business fails.
