When you’re looking for a reliable provider of high risk merchant services, it can be hard to choose among the many options available.
What do you take into consideration? What do you ask? How do you know? Read for our 7 tips and questions to ask to making your search easier.
#1 – Do they have high risk merchant services clients in your niche/vertical/industry?
Many payment gateway providers might be able to offer you a high risk merchant account, but not all of them will be familiar with your industry and its intricacies.
It’s always best to work with someone who already has clients with businesses similar to yours, because they are more familiar with the risks and challenges specific to you.
An expert won’t just be able to provide you with high risk merchant services, they’ll also be able to advise you.
#2 – Do they have customer testimonials and other references?
Once you know that a given merchant account provider does in fact serve your industry, it’s time to take a look at their track record. What do their previous and current customers have to say about them?
Here you don’t have to limit yourself to businesses similar to yours – what you’re looking for is a general evaluation of their skill, level of customer service, reliability and trustworthiness.
Look at their website, but don’t stop there – check out their social media accounts, Google reviews, Yelp, and other directories.
Don’t get hung up on individual bad reviews if you find them – sometimes people leave a scathing review for something that is not a business’s fault. But beware if the majority of reviews and testimonials are negative.
#3 – Are they answering all of your questions about high risk merchant services?
If you’ve chosen to go to the next step and have a direct conversation with a high risk merchant account provider, make sure to ask as many questions as you have about their high risk merchant services.
Part of this is to actually get the answers that you need, but it is equally important to evaluate how (and whether) they answer. If you get the sense that the sales representative is dodging certain questions, try to dig deeper – if you keep getting this impression, they might be unwilling to disclose some crucial information.
If this happens when you ask about their fees, then it’s a red flag.