Merchants involved in the high-risk industry know traditional banks and the majority of processors stay away from their high-risk business because of higher chargeback rates and risks. As a rule, they turn to alternative providers to get approved for payment processing solutions without major challenges. Payment Processing For High Risk Merchants The High Risk Guys offer high risk merchants both traditional credit card processing and next-day check payments, POS systems and terminals. HRG provides deployment services based on the size and specific needs of your business, regardless of your credit. HRG specializes in the high-risk sector and knows your business […]

Credit-card declines are very often conditioned by the so-called TC-40 reports. Let’s see what they are, how they cause card declines, and how merchants can benefit from these reports. What Is A TC-40 Report? When a cardholder claims fraud, credit card issuers file a TC-40 claim for the given payment transaction. Then, the card brands, issuers and the merchant’s acquirer receive these claims in a report called the Risk Identification Service/RIS Report for Visa transactions and System to Avoid Fraud Effectively/SAFE report for MasterCard transactions. The latter includes each transaction’s raw data, such as currency code, fraud postdate, issuers BIN, […]

In an era where consumer financial data is constantly in jeopardy, the financial services industry must create technologies that protect data, while being consumer friendly. The “Internet of Things,” has drastically expanded the technological possibilities, but has also created some serious ethical issues about how to secure financial data. According to the International Telecommunication Union, IoT is the network of physical objects that are embedded in sensors, software, electronics, and network connectivity. These physical objects are then able to collect and exchange data. Financial services can use IoT to protect consumer data as fewer and fewer devices depend on traditional […]

A vast amount of cardholder fraud claims can cause a higher number of declines. On the other hand, there exist other actions that can result in authorization declines by card issuers. Blow you can find other actions that may knowingly be applied by merchants, thus leading to credit card declines. Not Applying CVV Capture For Checkout CVV, CVV2, and CID are the last 3 digits on the back of credit cards or the last 4 digits on the front of American Express cards. These are added to provide extra security and confirm that the person entering a card number in […]

Mobile applications have changed with way consumers work and play for years. 2016 is set to be the year of payment processing for the mobile stage. There have been many predictions about the effects that mobile payment processing will have on consumer payments. But there are four major trends that payment processors and mobile app investors should be paying close attention to. Mobile Checkout Will Destroy Countertop Checkout: Mobile app users are expected to use cloud-based apps to checkout instead of the POS, and will migrate towards retailers that enable this experience. In addition to cloud-based checkout technologies, there is […]

Cardless ATMs are set to push along the adoption of mobile wallets. Cardless ATM transactions are much faster than card-based transactions, and will make withdrawing money safer and more convenient for customers. It takes almost 15 seconds to do a cardless ATM withdrawal, as opposed to 60 or 90 seconds for a debit or credit card-based one. Bank officials believe that it will take 5 to 10 years for mobile wallets to be fully integrated into consumer lives. Still early signs indicate that cardless ATMs could be a payment processing success in the US. Although BMO Harris Bank, an American […]

2015 was the year of e-commerce, and no other area was more impacted by the evolution of payment processing than the card-not-present (CNP) industry. Apple CEO Tim Cook believed 2015 would be the “year of Apple Pay.” Most agree Apple Pay fell extremely short of this goal, but mobile wallets in general exploded this year, bringing the issue of card-not-present fraud to the forefront of e-commerce conversations. The true effects of CNP fraud may not be known for a while. In the meantime, credit card issuers and merchants of all kinds are scrambling to keep up with fraudsters who are […]

New technology means new challenges for merchants – and perhaps a wait for customers. Visa’s new security changes will affect merchants and customers, but the changes are a good thing. Everything has a learning curve, and these changes are no different. Thankfully, everyone has until January 2017 to enact these changes, so there is plenty of time to get ready. These new changes help lessen data theft and hacking in “level 4” retailers. “Level 4” merchants represent more than 90% of the 5-million-plus card-accepting merchants in the U.S., and they also account for a lot of data breaches – estimated […]

Processing fees are the bane of a merchant’s existence. They skyrocket with the least little issue, and then you also have to worry about monthly fees. These fees are tacked onto nearly every merchant account – high risk or not – in the USA, and they can end up costing you even bigger bucks if your contract specifies their rise after a chargeback. There are ways this can be combated, and it doesn’t take much time or effort to do so. If you are comfortable with your rates, charges, and current high risk merchant account you are one of the […]

“Only those who will risk going too far can possibly find out how far it is possible to go.” – T.S. Eliot     Two common issues are related to eCommerce businesses – the monthly processing limit of credit cards, and the fact that traditional banks and most payment processors may stay away from them because of  high level of chargebacks and fraud. True professionals in the field like the High Risk Guys can help such businesses get a reliable merchant account and start growing. What To Expect From A High-Risk Merchant Account Merchants should have a realistic idea of a high-risk […]