High-Volume Merchant Accounts Solutions

The Importance of High-Volume Merchant Accounts
High-volume merchant accounts are designed for businesses with a high number of sales each month. These businesses, more than others, need to partner with the right type of acquiring bank to ensure that sales stay at a high level and the business can develop accordingly.

While a high number of transactions is naturally a good sign for any business, it also increases the risk of fraudulent activity and chargebacks. This is why banks and traditional financial bodies are more hesitant to accept high-volume merchants. The best option available to these merchants is high-risk credit processors, which have higher fees but are more reliable and efficient than any of the alternatives.

What exactly does a high-volume merchant account look like? Firstly, your business should be processing a minimum of around $10,000 each month before a high-volume merchant account is necessary. Your risk level as a business will be determined by evaluating a few key factors. These include your credit score, processing history, bank statements, and legitimacy as a business.

Before partnering with a provider, it is important to provide them with the most accurate picture of your business. The provider should know about your current financial situation, including any savings and debts, as this will allow them to set their fees appropriately. Just as trust between merchant and customer is essential, so is the trust and relationship between merchant and processor.

There are a few features you won’t find in other types of merchant accounts that are essential to the monthly functioning of high-sales businesses. You should look for an account provider that offers the following:

High Volume Caps: This is one of the most important characteristics you should look for. A high monthly volume cap will ensure that your acquiring bank is capable of handling and processing all of the sales you drive. To prevent delays and miscommunication with your customers, you should always find an acquiring bank that suits your sales numbers.
Efficient Processing: When you have a consistently large number of sales, it is important to track them so you can stay on top of demand and ensure your supply chain is operating at its best. A fast processing time, ideally one that runs in real-time, will become an essential part of your business.
Off-shore options: While you might find a domestic acquiring bank that suits your needs, you should also consider looking at offshore options. These acquiring banks often can handle higher monthly volumes and are more likely to accept different currencies and payment cards.
High-volume merchant accounts are the best way to ensure that your business’s transactions are processed quickly and accurately. Not only will funds rarely be withheld or paused, but your account won’t face suspension due to the suspicion of fraudulent activity.

These accounts also typically come with more security, which means customers have to go through a more stringent verification process. This protects your business and your customers, ensuring everyone is safe and payments are legitimate.