High Risk Merchant Accounts

Solutions for High risk merchant applicants

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Wireless Terminal Solutions was formed back in 2010 with the primary intention of allowing business to accept and process payments more effectively. The management team recognised each business requirement and model was different from the next, and for some sole traders or SME businesses a traditional Paypal or SagePay account wasn’t always suitable, nor would it suffice in the short to medium long term. With anything in life the bigger your business becomes the more versatile the business owner has to be, and this is where we have looked to adapt a versatile approach to suit the needs of all business types both big and small.

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Standard industrial classification high risk sector

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Unlike other payment specialists in this industry Wireless Terminal Solutions are accredited to work with most merchant acquirers.  As a result this means we have solutions in place all tailored towards the needs of your business, so if you work in a sector that is deemed “high risk” don’t despair, we may just have a requirement that your business could benefit from whilst enabling you the ability to accept debit and credit card payments.

The payment industry has seen a plethora of changes in recent years which extends to POS hardware right down to the way customers are now able to pay for goods and services. With our knowledge and expertise in the payment sector, we are nicely positioned to support business owners who are contemplating card payments but may be deemed a high risk merchant applicant.

Many business owners whose business fall into the standard industrial classification as a high risk sector or industry sometimes decide against accepting card payments partiality through a lack of knowledge, and not always having a full understanding of the process involved. As a result they don’t necessarily research what is involved in a high risk merchant application, and if they do perhaps speak with a company that has limited knowledge or doesn’t specialise in this field. The payment industry is densely saturated with many companies promising to help your business, but the reality so few have a wealth of knowledge, information or contacts to support the needs of your business.

Situated in Surrey and specialising in payment solutions and POS hardware we have gained a proud reputation for delivering innovative payment solutions which are both reliable even for the most discerning business set up.

Clear Concise Pricing for High Risk Merchant Applicants

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Not only do Wireless Terminal Solutions offer clear, concise competitive pricing for high risk merchant applicants but with PCI compliant software on all our payment card machines we’re forever one step ahead of many of our competitors. Our high risk merchant solutions have enabled customers to process card payments all over the world including the UK, Europe and America.  This also extends to e-commerce solutions and other POS services. In addition to this you can rest in the knowledge than once your high risk merchant application has been approved you will be equipped with the latest in payment technology all supported with a technical support team who will be on hand to assist with any support enquiries you may have.

How do I know if my business falls into the high risk merchant category?

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There are various factors as to why your business may constitute or forced to run with a high risk merchant account. One reason which we come across quite frequently is your business may have a poor credit history. Another reason we regularly see is the industry sector your business may operate or trade in.

High-risk industries carry more risks for merchant acquirers and sometimes the application may require more scrutiny additional information before a decision is made. Risks differ from business to business but frequently relates to how frequently a business will incur chargebacks.

We have an array of relationships and associations and long term networking with most merchant acquirers meaning we can normally find a positive resolution for most businesses and process payments in various currencies.

Who is my high risk merchant agreement with?

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Your payment processing charges will relate to the merchant acquirer directly, and if you are a customer of Wireless  Terminal Solutions any hardware charges for the card machine would generally come through us. Regardless of how or where you acquire the above from you will end up with two agreements.

The merchant acquirer will provide the customers high risk merchant account (and manage the application directly for you). The easiest way to describe our role here as Wireless Terminal Solutions – We are a payment specialist excelling in hardware options whilst supporting customers through the whole process.

What fees will I be paying for a high risk merchant account?

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Every application is different from the next. It is important to be aware that there can be considerable factors that have to be taken into consideration to determine your fees may apply in relation to the account and merchant service charges.  We can provide a rough guide but in most cases an accurate breakdown for costs cannot be determined until we can learn more about the business and other aspects relating to it. We’d rather be transparent in the way we work with our customers and this is reflected in the established client base we now work with. We also have the ability to on-board POS customers and Online.

Choosing a high risk merchant supplier to support your application

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Wireless Terminal Solutions’ are unique that we are neither a manufacturer nor are we an acquiring bank, we like to refer to ourselves as a “payment specialist”. Our team collectively has extensive knowledge in the payment sector, and this is why we can be so accommodating in the services and products we offer. We have grown with our customers whilst delivering the latest in payment technology. You may fall into the bracket of “high risk” business, but don’t let that deter your wish to take card payments. Speak with us and we will look to deliver a practical solution.

If your circumstances are unique get in touch with a representative to see how we can support you. Finding a merchant account for a high risk business can be a lengthy process but it is important for customers and potential applicants to remember that it is not impossible to obtain.

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