High Risk Merchant Category Codes
Everything You Ever Wanted to Know About High Risk Merchant Category Codes
Traditional banks are often not prepared to manage high-risk merchant accounts, which makes them difficult to obtain. Banks commonly do not have the staffing, expertise or tools in place to monitor the risks associated with supporting these challenging merchant categories. As a result, many banks simply have policies in place prohibiting service to these industries. From low-risk point-of-sale merchants to registered high-risk merchant accounts (which exclude some categories), eDataPay.com offers a comprehensive range of domestic and offshore merchant account solutions. eDataPay.com has the partnerships, experience and reputation to help most high-risk merchants obtain a merchant account.
A Merchant Category Code (MCC) is a four-digit number used to classify and categorize merchants based on the merchant’s business activities and products or services being sold. Subject to credit card association guidelines, MCCs are assigned by the bank to each merchant account when the merchant account is established thereby providing a high-level description of the goods or services sold by the merchant.
The credit card associations have also established rules and regulations defining the use of particular MCCs including requirements to preregister merchants operating in specific high-risk MCC categories, for risk monitoring purposes. High-risk merchant category codes are the industries that predominantly generate the highest levels of cardholder disputes, represent higher levels of financial risk to the banks and/or create additional brand risk for regulatory reasons.
Additionally, card association registration can also be required for certain MCCs when the merchant is operating in a card-not-present (CNP) environment within that MCC, for example, with online tobacco sales as compared to retail tobacco sales.
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Traditional banks are often not prepared to manage high-risk merchant accounts, which makes them difficult to obtain. Banks commonly do not have the staffing, expertise or tools in place to monitor the risks associated with supporting these challenging merchant categories. As a result, many banks simply have policies in place prohibiting service to these industries. From low-risk point-of-sale merchants to registered high-risk merchant accounts (which exclude some categories), eDataPay.com offers a comprehensive range of domestic and offshore merchant account solutions. eDataPay.com has the partnerships, experience and reputation to help most high-risk merchants obtain a merchant account.
We have high risk merchant accounts for all types of high risk businesses. Are you just looking for the right partner to help move your business forward, but you’re having trouble getting approved elsewhere? Let us help you with that! eDataPay knows how businesses with a lot of risks work. We know that you can’t waste time gathering the mountains of paperwork you need only to be turned down by traditional payment processors because you are a high-risk merchant. As a leading provider of payment processing solutions, we make sure your business gets off the ground quickly with a 99 percent approval rate and a fast 24-hour turnaround. We’ll also make things easy for you by not charging you for an application, not making you sign a contract, and taking all major credit cards, no matter what your credit score is. And once you’re up and running, we’ll make sure you stay in business by stopping chargebacks and getting you paid the next day. eDataPay knows that your time is worth money. Give us yours, and we’ll make sure it’s worth it! Apply today and you can start working tomorrow!
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