We all are very well aware that when Business and commercial activities are done Electronically it is referred as E-commerce. Sometimes back it was something which was considered as an advancement in the sector of Business and Commerce but now its a requirement and is taking over rapidly the whole of the market.
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We all are very well aware that when Business and commercial activities are done Electronically it is referred as E-commerce. Sometimes back it was something which was considered as an advancement in the sector of Business and Commerce but now its a requirement and is taking over rapidly the whole of the market. Present and future of Shopping is online and will be completely online. And this the reason we are seeing numerous start-ups, entrepreneurs starting up with E-Commerce business and achieving their goals and growing globally. It has helped merchants to connect with their customers beyond the boundaries, and even made customer’s experience also fast, seamless, and most convenient.
A report says that E-Commerce Business sales will cross the figure of $638 Billion by 2018 in only US using the Mobile devices. Now when you are dealing with an online business in order to take a payment from your customer through their card or electronic check you will essentially need a merchant account. A PCI compliant Payment gateway which and be integrated with your E-commerce based Business website and allow your Customer to make a transaction online and help in placing an order and paying for it online. And Here is an important Role of Payment service Provider (Merchant Service provider) who will provide an account or gateway for Merchant to take the payments online. Since an E commerce Business can fall under either High Risk category or a low risk Category as per nature and transactions involved in Business a merchant applying for merchant account Must cross check for the business category :
The following criteria is a perfect match for any business that falls within the low-risk category –
And following is a perfect match for any business that falls within the High-risk category –
Every month an amount lower than $20,000 is processed by you
The average size of ticket that you posses is lower than $50
Your chargeback ratio is quite low
The industry that you cater to reflects a lower risk
The country of your incorporation falls within a low-risk category
You have lost your previous merchant account due to high chargeback ratio.
Questionable sales and marketing tactics
Potential legal and financial liability
Your credit is really bad.
Industry known for excessive chargebacks or fraud incidents
Trial continuity business
Previous credit card processing is not good enough
You’ve been branded as terminated merchant (TMF).
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