If you run a company and want to take in money, you will need a merchant account. However, sometimes, you will deal with high-risk clients. With this in mind, you will not want to take any chances as you can end up missing out on bringing in revenue. Here are three ways to accept high-risk payments.
Verify an address: With credit card processing, you can verify their home address. Think about it, if you want to catch any potential fraud, you will want to find someone who uses their correct home address. Otherwise, if the person uses a different address, you will want to call him or her on the phone and discuss the situation. While it may make sense in some cases, other times, it’s fraud. Remember, if someone wants to pull a fast one over you, they will often try to send something to a different address.
IP Address of the user: Now, if you’re going to catch someone in the act, you will want to see their IP address. When doing this, you can see if a person is even in the same country as the card holder. Of course, in some cases, there is a perfectly reasonable explanation. Other times, if you look at the situation, you will see something is afoul. With credit card processing, if a person is in Russia but has a USA address, you will want to take your time to research the situation.
Look at the transaction: Finally, with merchant accounts, you can look at the transaction and see what is going on. Sometimes, people will buy an expensive item without taking their time on the website or asking any questions. In reality, if you are going to buy a high-end item, you are likely to ask some questions and take your time. For this reason, when looking at your merchant provider, you should see if a person logs in quickly and buys the item, all without taking any time.
Without a doubt, if you accept payments from high-risk individuals, you will want to do your research, ask some questions and figure out the situation, in detail. If not, you are likely to end up in a bad situation in the future. Remember, don’t take a chance as you are likely to lose revenue if you just ship your item or offer your service without doing any research.