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Merchant Account Credit Processing
Merchant Account Credit Processing
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davidjohn6366
11 posts
Sep 27, 2022
1:29 PM
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But, as the new regulations come into play, companies formerly classified as standard ecommerce are being reclassified as high risk merchants. These days, ecommerce businesses do not have to be selling electronics, travel, jewelry, digital content or other traditionally "high risk" products to be classified as high risk merchants. Companies selling books, apparel and other "lower" risk products are being thrown into high risk classifications simply because the company is internet based.
As banks look at their portfolios, many are taking drastic measures which catch merchants that are unprepared totally off-guard. Some banks are sell credit card processing getting rid of internet based and high risk merchant portfolios. Other banks are exiting the merchant processing business altogether.
When banks get rid of merchant portfolios, all companies processing with the bank are left out in the cold. Companies have to find new accounts quickly.
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