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Safeguard Cash Flow and Secure Working Capital for High Risk Merchants - The most common question ecommerce companies have is “How can we protect our ability to accept card payments on our sites when so many banks are cancelling merchant accounts?”- PaynetSecure.net
Safeguard Cash Flow and Secure Working Capital for High Risk Merchants

 

PRZOOM - /newswire/ - Dallas, TX, United States, 2011/07/12 - The most common question ecommerce companies have is “How can we protect our ability to accept card payments on our sites when so many banks are cancelling merchant accounts?”- PaynetSecure.net.

   
 
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Payment ProcessorPaynetSecure reveals how strategic highrisk merchant account planning is crucial to internet retailers that want to continue to accept card payments online:

KonradToch, CEO of PaynetSecure, states that “Money generated through card payments on an ecommerce site is the largest source of cash flow and working capital for internet retailers. Protecting high riskprocessingis essential to securing the liquidity of business operations.”

Banks are cancelling high risk merchant accounts at an alarming rate. Companies that have been processing payments through the same bank for years are shocked when informed that the bank will no longer accept its business.

“The cancellation of high risk merchant accounts reflects the changes in banking regulations in the US and throughout the world,” continues Toch. “Credit lines are becoming tighter due to changes in bank capitalization and reserve guidelines. Financial institutionsare getting rid of high risk merchant accounts in order to stay compliant with new banking rules.”

Banks consider ecommerce high risk processing because no card is physically present at point of sale. Ecommerce companies are shocked to discover that excellent processing history is no protection against an account being terminated. Many banks are simply purging all high risk merchant accounts in an attempt to control potential future liabilities.

Internet retailers are finding that even if a bank continues to process payments, it may not increase lines of credit to accommodate business growth. Companies with a long-standing relationship with the bank are having requests for additional lines of creditsdenied.

Ecommerce companies that are growing need to have more than one merchant account to ensure cash flow continues uninterrupted. For this reason, internet retailers are choosing to diversify high risk processing through participation in a bank network. Acceptance into the banking network gives high risk merchants access to multiple banks.

Participation in the banking network simplifies the process of diversifying high risk merchant accounts. All banks connect to the same processing platform, providing companies a single plug-in connection to all financial institutions. Centralized administrative control simplifies account reconciliation and management.

“With the network, high risk merchants break away from dependence on a single bank for payment processing,” says Toch. “Most importantly, with so many banks in the network, internet retailers obtain virtually unlimited lines of credit for processing which protects cash flow and liquidity.”

About PaynetSecure
PaynetSecure (paynetsecure.net) is a payment processing company specializing in high volume merchant accounts. The company provides payment processing for US and international companies, including high risk merchants. PaynetSecure processes payments through an exclusive network of 84 acquiring banks located throughout the world. The company is a member of the National Chamber of Commerce.

For more information on how your company can gain access to the banking network, visit the PaynetSecure website or call 877-840-9964

 
 
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Safeguard Cash Flow and Secure Working Capital for High Risk Merchants

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Contact: Tina Brandon - PaynetSecure.net 
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