Ever thought of starting your porn site? If you were to do such a thing and charge money for membership, then you would need a high-risk merchant account.
What is a merchant account?
A merchant account is an essential account that you need to accept credit cards online. If you plan on running a website that allows you to collect fees from those who visit your site, then you can not start doing so without the merchant account.
So how do you get one? First of all, you must choose a merchant account provider (MAP). These providers may present you with attractively low rates but be warned because there are a lot of shady providers out there. Make sure you have checked out the provider and have read everything in the contract before you make your final decision.
Kinds of merchant accounts
There are three kinds of merchant accounts that you can consider.
1. Internet Merchant Account. This is the account for those who are marketing or advertising their services or products online.
2. Online Merchant Account. This is the account for those who want to sell their products online and not just promote them. Payment for these products is made online.
3. Merchant Service. This is a software that takes care of the credit card transactions.
The high-risk merchant account
If you are running a high-risk merchant account, it is most likely that you will have a hard time finding credit card processing options. There are only a limited number of providers who are willing to accept such clients, and if they do, their rates are often high. High-risk accounts include adult websites, online casinos, and pharmaceutical merchants.