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Are you an electronics business looking for a merchant account that can accommodate you? Limitless can help you find a high risk credit card processor that fits your unique needs.
More and more electronics stores are selling their products online as opposed to in a physical store. The result of this is more banks and processors classifying the electronics industry as a greater risk. There are several reasons electronics stores, especially online stores, are considered a high risk: the electronics industry has a history of high chargebacks, the average ticket item for electronics is high, and electronics businesses can often be the target of fraudulent transactions.
It is not unusual for electronics purchases to not meet the satisfaction of the customer. Whether they arrive in bad condition after being shipped, they are faulty, or the customer is just not impressed with their purchase, there is a larger than normal chance that a customer will request a chargeback for an electronics item. And because many electronics are big ticket items, electronics merchants are at an even greater risk. Traditional banks are wary about the merchant’s ability to cover chargeback requests for big ticket items. Many banks will deny merchants selling electronics even if they have a history of being able to handle the chargeback requests they receive. The best solution would be to apply for a merchant account with a high risk processor.
Limitless specializes in high risk merchant accounts for electronics and we can help you pick the best processor for your specific business. We have experience working with the electronics and other high risk industries. There is no reason to continue applying to multiple processors, in hopes that one will approve your business. Limitless can help you get approved by a processor immediately.
If you are an electronics business looking to get approved for a high risk merchant account, call us at (516) 384-6655 or use the easy apply now form on this page to get started!