Hello DP. Everything about our business is going perfectly, except for one thing: Our payment processing. We've worked very hard to acheive a high conversion rate and recently have been ranked #2 for our most important keyword in Google. And now that we're successful and doing between $50,000 - $100,000 in sales per month, we're having trouble getting approval to process the payments. First Data, our credit card processor, only approves us for $25,000/mo & will not increase that limit and PayPal places a 10% rolling reserve on all our payments - something that we simply can't deal with (we only get ~4% margin). Does anyone know anything we can do about this? We are desperate to to be able to accept credit card payments but credit card processors are preventing us from being successful! Any help would be appreciated immensely. Thank you!
have you tried 3rd party processors such as 2checkout, fast spring etc ? Fast spring is quite good I think You could get in touch with these processors and ask if they can handle the volume Regards
The best thing to do is to open a few merchant accounts that can handle your volume, you don't want to go over your volume and get terminated and all your funds being locked up.
Well multiple merchant accounts might be the solution, also consider to incorporate some good order tracking monitoring to avoid excessive chargebacks while you volume rise. Sounds like you have a good business there and you have managed it well, good luck.
when limitations happen to you ,you can turn your payment gateway to worldpay that I think has enourmous good reputations used by Big brands online,and as info since this payment processing soon will integrated paypal inside ,you make more freedom for your consumer still reason to buy without delay to decide purchased