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INTERESTED IN OUR CASH DISCOUNT PROGRAM?

High Risk Processing

In addition to providing personalized solutions for local businesses, Run the Wire is also equipped to handle high-risk merchants. Many traditional merchant service providers shy away from high-risk merchants due to their increased risk of chargebacks, fraud, and other issues. However, at Run the Wire, we specialize in providing high-risk merchant processing solutions that meet the unique needs of these businesses.

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At Run the Wire, we are committed to providing personalized, flexible solutions for all types of businesses, including high-risk merchants. Contact us today to learn more about how we can help your high-risk business succeed.

Baker Online Store

What is a high risk merchant?

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GREATER CHANCE OF FRAUD

A high risk merchant is a business whose industry is considered to have a greater likelihood of fraud and/or payment disputes.

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HOLDS ON DISPUTED FUNDS

When a chargeback occurs, it means the funds disputed are held from the business until the card issuer considers the transaction and determines what to do.

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PAY BACK LOST FUNDS

If the funds to the business are denied, a payment processor will require the merchant to make good on lost funds.

High risk industries.

  • Reduced Fees
    Our cash discount program can eliminate or reduce card-processing fees associated with credit cards accepted. After deciding not to process cards, you will not have to pay for the services.
  • Easier to implement
    In addition to being more accessible, the program is also easier to explain to customers. Some merchants isolate and then pay for the card processing by assessing surcharges on the products customers buy with credit or debit cards. That comes with numerous challenges. For example, adding card-processing surcharges is illegal in many states. Implementing cash discounts, however, is legal in all states. Explaining that every item in the store is priced with built-in service fees is usually easy. The merchants can also deduct the fee easily if someone prefers cash payment.
  • Encourages cash payment
    Even though most individuals prefer to utilize card payments, cash discounts incentivize them to use cash instead of debit or credit cards for all their purchases. In other words, the time between the sale and the access to funds is minimal. Such transactions do not involve wait time or processing time for the money to get on the merchant’s hand. Moreover, this helps merchants eliminate fraud exposure.
  • Charge back reduction
    After reducing the number of customers using credit cards in your store, chargebacks will also diminish. If chargebacks have been a massive problem for your store, the decrease might help you minimize the card fees you pay because you will be at a lower risk.
  • A great marketing tool
    The cash discount might be a useful marketing tool for your business that will eventually attract more customers. Getting more people inside your store should be your primary goal throughout the year. Ideally, people will get in for a single item and go out with more. Even though a 4% discount will help you cover the cost of processing your cash discount service, it will be a useful sales or marketing tool if implemented in the right way.
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Any questions related to our services?

What to look for in a high risk payment processor.

Choose a processor that’s not afraid to help you operate your business as they would a low-risk company. Where Run The Wire is concerned, you’re interested in making a living and providing a service to others just like any business owner. Regardless of the type of business, we always offer the most transparent pricing and solutions best suited for your business.

  • Reduced Fees
    Our cash discount program can eliminate or reduce card-processing fees associated with credit cards accepted. After deciding not to process cards, you will not have to pay for the services.
  • Easier to implement
    In addition to being more accessible, the program is also easier to explain to customers. Some merchants isolate and then pay for the card processing by assessing surcharges on the products customers buy with credit or debit cards. That comes with numerous challenges. For example, adding card-processing surcharges is illegal in many states. Implementing cash discounts, however, is legal in all states. Explaining that every item in the store is priced with built-in service fees is usually easy. The merchants can also deduct the fee easily if someone prefers cash payment.
  • Encourages cash payment
    Even though most individuals prefer to utilize card payments, cash discounts incentivize them to use cash instead of debit or credit cards for all their purchases. In other words, the time between the sale and the access to funds is minimal. Such transactions do not involve wait time or processing time for the money to get on the merchant’s hand. Moreover, this helps merchants eliminate fraud exposure.
  • Charge back reduction
    After reducing the number of customers using credit cards in your store, chargebacks will also diminish. If chargebacks have been a massive problem for your store, the decrease might help you minimize the card fees you pay because you will be at a lower risk.
  • A great marketing tool
    The cash discount might be a useful marketing tool for your business that will eventually attract more customers. Getting more people inside your store should be your primary goal throughout the year. Ideally, people will get in for a single item and go out with more. Even though a 4% discount will help you cover the cost of processing your cash discount service, it will be a useful sales or marketing tool if implemented in the right way.
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LEARN MORE ABOUT HIGH RISK INDUSTRY SOLUTIONS.

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