Ecommerce Merchant Accounts for Businesses in Canada, India, US, and the UK
Did you know that in 2015 retail ecommerce sales totaled nearly $1.7 TRILLION worldwide? By 2018 that figure is expected to reach $2.1 trillion. In fact, for the first time ever, consumers are doing most of their shopping online.
No matter what services or products you offer, one of the most critical factors for operating a successful ecommerce business is the ability to accept credit card, debit card, and even eCheck / ACH payments online. To do this, you need three things: a website, a payment gateway, and an ecommerce merchant account.
The Benefits of an Ecommerce Merchant Account
Having an ecommerce merchant account can benefit your business in a variety of ways:
- Increased sales and customer satisfaction
- Improved security of customer data through the use of a PCI-compliant payment gateway
- Increased customer loyalty
- Since credit card payments are processed automatically, your business can be processing orders and be making money 24/7
- Collection of sales data provides actionable insight
- Ability to offer flexible payment options – credit card, debit card, eCheck, recurring payments, and more
Why Are Ecommerce Businesses Considered High Risk?
Despite the boom in online sales in recent years, ecommerce businesses are still considered risky when it comes to getting approved for a merchant account. One of the primary reasons for this is the high number of Card Not Present transactions (CNP) and increased likelihood of chargebacks that can occur. Another reason is that some financial institutions still don’t have a good understanding of how the ecommerce industry works and are unwilling to take a chance on something they don’t fully understand.
High Risk Pay Solution Can Help You Get an Ecommerce Merchant Account
High Risk Pay Solution has helped ecommerce businesses throughout Canada, India, the US, and the UK increase sales by enabling them to offer credit card and debit card payment options to their online customers. Let us do the same for you! Give us a call us at 855-736-6460 or click here to request information online. Or, if you’re ready to get started, you can apply online for free.