Business Opportunities

But why is this happening? Many obvious reasons are excessive chargebacks and, of course, the frauds in the industry that are only out to earn some quick cash.

A business opportunities merchant account is considered high risk for a variety of reasons, making it hard to find a reliable payment processing partner. Aacadia Payments specializes in working with High-Risk Businesses and has multiple partner banks that offer long-lasting business opportunity merchant accounts.

Has Your Business Opportunity Merchant Account Been Closed or Your Monies Held?

For your business to accept payments through a reliable payment provider, you must first set up a High-Risk Merchant Account.  Your Payment Provider will hold funds out of your daily deposits before sending them to your company bank accounts. Whether there are any refunds or disputes related to any given purchase, your payment provider will remove these amounts from the merchant account deposit before transferring the payment. 

However, there are quite a few business categories that are high risk even though the credit card is present.  Because a majority of the transactions are completed when products or services are offered over the internet (Ecommerce) or over the phone (MOTO), they are called card-not-present transactions, which can increase the risk.

In an increasingly digital world, businesses are adopting mobile and new payment  processing procedures. At the same time, business owners are taking the point-of-sale off the counter, out of the touch of customers. Aacadia Payments offers unique business opportunity merchant account solutions that makes it super simple to accept all forms of payments from wherever you are in the world.

How Can Aacadia Payments Help You Manage Your Business Opportunity Merchant Account?

As the world moves to a more digital age and away from actual Cash, many businesses already only accept plastic or digital currency.  A merchant Account will help your business with:

• Improved cash flow direction
• Capability to accept recurring payments for services provided on a regular basis with the Aacadia Gateway
• Increased Profits for your business
• Avoid Losses and Hassles of Rejected Checks
• Higher Level of Customer Satisfaction

Aacadia Payments can get your high risk business opportunity company a merchant account simply. Learn more about our application process and get started here. Additionally, Aacadia Payments understands the ways to keep your merchant account costs low for your business. We make sure your Merchant Account is set up with a bank that knows and understands what you sell.  We help mitigate chargebacks with you by being aware of your incoming disputes and working with your business to reduce those for a more long-lasting merchant account. 

Aacadia suggests the following to assist you in Chargeback Mitigation:

Quickly respond to customer requests to cancel a recurring transaction.

If a customer requests cancellation of a recurring transaction that is periodically billed (either Monthly, Quarterly, Annually, etc), always respond and respond quickly.  Advise the customer in writing that the service, subscription, or membership has been canceled and give your contact information for them to contact you instead of performing a Chargeback.

Provide Reliable and Responsive Customer Service

It is essential there is a way for customers to be able to send Inquiries that should be reviewed and responded to Daily!  
Unhappy customers need a resolution path that is simple, or they will quickly contact their bank and dispute your transaction, since banks have made that super simple in recent years.

Make sure your Payment Descriptor is your DBA Name (how Customers know you).

If a person sees a charge on their credit card or bank account, they will simply dispute the charge as it is many times easier than trying to figure out who is billing them.  Make sure the Descriptor (name and phone number) are how your customers know you and the phone number goes directly to your Customer Service department.

Why does being a High-Risk merchant affect your merchant account?

The Card Brand have added many recent regulations and compliance rules that must be followed.  Ignorance of those rules are no excuse to the Card Brands and Banks.  Banks often deem BizOp merchants as high risk business for several reasons, additionally, most BizOp owners do not fully understand all the intricacies of the payment industry. 

Additionally, many payment providers also do not fully understand how the payment industry works. This results in most banks not only miscategorizing your business as high risk but also possibly not even approving them.

Aacadia Payments is here to help you to a better payment experience. If you have had credit card processing issues in the past, you’ve come to the right place.