November 3, 2021
Hi. Welcome to another episode of the B2B vault. One of the most popular things we get asked about is risk credit card processing. So we’re going to talk about 11 reasons why you should choose to work with MPS bank nationwide payment systems. And also you have the payment advisory board where we are basically consultants. So let’s get right into it. We have over 20 years of experience in merchant services as a business, we’ve been in business since 2001 between me and my business partner, we’re each in the business, 20 years, we have another consultant. That’s also part of our group through the payment advisory board. He also has over 20 years of experience. So we bring all of that experience to help you with your business, whether it’s high risk or low risk or in the middle. Why do we get asked by merchants all the time? Why is my business high risk, hot, uh, businesses are classified the same way. It is like you go for a car loan or you go for a mortgage. You know, every bank has its own taste for different types of business. So one bank likes guns and another bank. Doesn’t one bank likes adult and another bank likes nutraceuticals. One bank likes diet products, and another bank likes gambling, or they like gaming, or they like SAS software and other people don’t like it. So your business might not all the time be high risk, but it’s making sure that your business is with the right processor bank. You know, that that services your industry. We work with multiple banks. So we’ve been lucky because been in this business for over 20 years. So we work with multiple banks, processors, and full liability ISOs. So you hear terms about people’s ISO over their retail, ISO a close sale, ISO this kind of ISO, that kind of ice ISO, well only the ISOs that are taking full liability or a bank. That’s also a full liability acquire. Those are the ones that you want to work with because they’re, they can handle, you know, large ticket businesses, uh, you know, businesses that are processing millions of dollars a month. You know, it’s very hard sometimes to place, you know, those businesses, but we work with enough banks so we can find a home for your business. Also, we’re not brokers. So some there’s a lot of people that say they do high risk, but they’re just going out there getting you to fill out paperwork, sending it all around, throwing, throwing up, but against the wall and see if something sticks. They don’t have the relationships that we do. We have relationships with the underwriters, with the owners of companies, with the vice presidents, with the people who are the decision-makers.
So we already know in advance, who has a taste for that product who likes this type of product. And, you know, we know if there are two or three banks, then we’re going to go to them all and find out where they are because banks have, uh, you know, they’re only going to take just like on a mortgage. Oh, we want, you know, a paper than when it comes to being paper, oh, we only want 20% of our paper to be B. We want 10% to be C and we want maybe 1% to be D. So everything works like that. Then, you know, we take a consult, consultative approach to the whole thing. So we’re gonna, even if you’re referred to us through somebody else, we’re gonna set up a meeting, we have a phone call or a zoom meeting. We’re going to find everything out about your business. And that way we’re knowledgeable about how you operate and things like that. Compliance is very important because, uh, every business has different levels of compliance and what the card brands expect the business to do and what the banks expect you to do. And what’s supposed to be on your website. What’s not supposed to be on your website and maybe special licensing or things like that, or registration with the card brands. So we go over that with you to make sure that whatever you’re doing is fully compliant from all standpoints, with the card brands, with the federal government, whatever it is.
We also going to T V we know what to do about paperwork and required documents. So we know what the bank’s going to ask for. We’re not going to keep coming back to you, asking you for more and more and more and more stuff. Every couple of days, we already know what the list is. So once we get the list, the full list, then we can move. You know, we direct, we work directly with all the underwriters. So we work with them before we get started, making sure they’re interested in your business during the process and we working with you. So it’s very important that we, you know, make sure we have direct contact with these underwriters this way. We get a prize of any pending information, or they might have missed a document in the, you know when we uploaded it so on and so forth risk department. This is one thing, a lot of merchants don’t understand the risk department. They’re the ones that monitor your account after it gets going. So we work with the risk departments directly. We see what’s going on with them. They make sure that they understand what type of business you have, what to expect, and things like that. Fraud solutions. Okay. So there are all types of fraud solutions. There are some fraud solutions that are inexpensive. I don’t want to use the word cheap because it’s inexpensive. And then some are, you know, very expensive. So it just depends on how much business you’re doing, how expensive the product is so that you can stop fraud on the way in. So there are things like 3d secure, and there are other types of services similar to that, which basically, you know, stops fraud from happening on the front end. Okay. No chargebacks is another story. We can’t stop chargebacks. No one can stop chargebacks, but if you’re employing like 3d secure on the front end, that’s going to all, that’s going to limit chargebacks of certain types.
So depending on the type of business you have, and what’s going on in your business, now we can see or buy the business type because we’re familiar with many business types. We can see what we know what you’re going to expect to have. If you’re a new business and you’re in a certain vertical, we know what kind of chargebacks you’re going to get, what kind of fraud you’re going to get. And we show you how to mitigate that. And that’s all you can do chargebacks, and we help you with chargebacks. We have charged back rescue where we help you reg chargeback letters. If you’re managing yourself, if you get a lot of chargebacks, and we have companies that link into your website and they help you monitor the chargebacks and respond to them, and there are even services where you can kind of, after a chargeback is issued, you let’s say it’s just a service you offer. Maybe you want to offer, you know, refund the money before the chargeback is actually posted into the system. So it’s a precharged back warning. So we work with all these things and we consult with you. We explain everything and then we get the whole process going. So NPS bank, you can go to our page on the website, high risk, read all about the different verticals that we work with. I mean, we basically say if it’s legal, we can find your credit card processing. So thank you for listening to another episode of the B2B Vault.
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