Business opportunity merchant accounts or biz ops are basically a business guru. Generally, a biz op is a program or course that’s created by an individual to help others make an income while making themselves an income by charging membership or fee for online services. Usually, the individual is working from home and can reach a high ratio of people looking to expand and transform their new start up. The business guru has helpful tools and advice for the new business owners. You might be thinking, how can business opportunity accounts be labeled as high risk. Well, you can thank the dubious bunch of individuals who are not operating as a faithful business opportunity company. This has to lead to banks being much more reserved when approving business opportunity credit card processing The chargebacks are incredibly high with these business opportunity platforms. You never want a high amount of chargebacks because you will eventually lose money and no longer be a profitable business. Chargebacks are usually high because the client is dissatisfied with the services delivered. Chargebacks are also common if the business opportunity company is a scam and the so-called “ business guru” is just looking to make a quick income from naive clientele. Unfortunately, there is a track record of business opportunity companies being unfaithful and suspicious, these unreliable businesses then ruin it for everyone else.
So why are business opportunity merchant accounts so risky? Well, when payments are done in person with someone physically swiping the card it is generally more reliable. ECommerce or transactions completed online are much riskier. Customers can declare that their expectations were not delivered and request a refund. Any money made is held in the merchant account for this very reason, to pay back unhappy customers. Basically, before you see any money the payment processor will deduct the refund amount from the merchant account. Eventually, your opportunity business merchant account will decide to shut it down because of the risk. It is common for business opportunity merchant accounts to quickly be shut down because of the disingenuous actions of customers or other businesses. With these businesses is usually not because of what products are being sold but rather how to payments are being processed. We don’t want you to think you’re defeated if you had a business opportunity merchant account shut down or you keep getting denied from payment processors. We are here to help! The digital world is ever-growing and we are here to help with your payment processing procedures. High-Risk Payment Pro’s offered tech-savvy business opportunity merchant account solutions that make it simple when a client is attempting to purchase your services with ease online.
At High-Risk Payment Pro’s we care about your business thriving and being extremely profitable. We want to help propel your business into a profitable and reputable company. We have experience with high-risk business models and we understand that it usually comes with a high price. However, we are the most affordable in the high-risk merchant account industry. There are a few tips to remember when thriving for success with your online payment merchant account. To be a well-functioning and reputable business you definitely want to keep your chargeback ratio low. It is vital that you respond to all cancelation requests. If a company fails to respond it can only get worse. It is also incredibly important to have your payment descriptor as your very own merchant name to avoid confusion with customers on their billing. If a customer sees an unfamiliar title they are billed for they could easily label that it as fraud and then you have a chargeback dispute on your hands. Put this all in place so you can avoid chargebacks and refunds but rather have a healthy business.
Lastly, and probably the most important for client retention is having an amazing customer service help desk. At the end of the day, customers want to know they are looked after and valued. That is where your A+ customer service skills come in. They are there merely to serve and retain the client that you have strategically brought in. Make sure calls and emails are responded to in a short time period and
Choosing the right bank is undeniably the most important step in owning a business. You don’t want to choose a provider that will later on shut down your airline merchant account because it is too risky of a business. Payment Pro’s is experienced with airline merchant accounts, and we work with a wide network of banks. Airline booking is a card-not-present payment so it is viewed as unreliable.
Being categorized as a high-risk business opportunity company, unless you know who to seek for your payment processing. Once you have committed to a reliable merchant account provider you can begin capitalizing on your market. Chargeback prevention is critical because your business opportunity merchant account could deny you or shut your payment processing down if your chargeback ratio is high.
Looking to open a merchant account?
Why not! Payment Pro’s is here to guide the diverse adult related businesses and adult merchant accounts. We fully understand the industry in-depth and all the challenges adult entertainment businesses face, so we are here to give you the best experience imaginable.
We want your business to flourish and grow for the long term. Payment Pro’s is an established and tech-savvy merchant provider that can get your business taking payments in no time!