Boosting Revenue for High Risk Business Industries

In high risk business industries, boosting revenue can be tough due to factors such as risk of chargebacks or fraud, making it hard for traditional banks to provide services. This is where Electronic Transfer Inc. (ETI) steps in. 

ETI specializes in helping these businesses with secure electronic payment solutions and efficient processes that build customers’ trust, reduce risks, improve cash flow, and 

Which Industries Are Considered High Risk Businesses, and Why?

High risk business industries are sectors with higher chances of financial instability, regulatory scrutiny, and operational difficulties. They face more uncertainty due to market volatility, regulatory shifts, strong competition, and industry-specific risks.

Examples include:

• Adult entertainment is an industry that often faces moral objections and legal restrictions.
• Online gaming and gambling involve numerous transactions and regulations.
• Travel and ticketing deal with potential cancellations and chargebacks.
• E-cigarettes and vaping products face regulatory and health concerns.
• FFL (Federal Firearms License) gun businesses are considered such due to the nature of their products and the regulatory environment surrounding the firearms industry.

Electronic Payment Processing Comes with a Price for High Risk Businesses

Electronic payments are necessary and unavoidable because they make things easier for customers who buy online or simply prefer to pay with a card. 

However, to ensure the process is quick, efficient, and safe, high risk business industries, unlike low-risk businesses, need specialized services to mitigate risks, which can be expensive. Common challenges they face are:

• Higher transaction fees: Expect to pay nearly double the standard rate per transaction in high risk industries and negotiating lower prices, especially in sensitive fields like firearm merchant services, can be challenging.
• Early termination costs: High-risk service providers often include costly early termination fees in their contracts to prevent businesses from leaving. Plus, contracts may bind you for up to five years, with immediate renewal possibilities.
• Higher monthly payments: High-risk industries face higher monthly service payments than average.

Now, this might not sound like much, but it is crucial, especially for smaller businesses or those with high transaction volumes, to understand these financial challenges and find manageable costs. 

How to Increase Revenue with Electronic Transfer Inc.

There are many ways ETi can help your business to boost your revenue. 

ETI Saves You Money

We offer a range of services that will help you keep more money in your pocket, thereby increasing your revenue: 

• Competitive rates: ETI offers the lowest, most competitive rates.
• Customized pricing: We provide personalized pricing plans to match the specific requirements of your business, ensuring you only pay for what you need.
• Free setup: Opening a merchant account with a virtual terminal is free. A significant cost saving for businesses starting with electronic payment processing.
• No monthly minimums: ETI does not charge monthly minimums, allowing businesses with fluctuating sales volumes to avoid unnecessary fees.
• Month-to-month agreements: Our services are offered on a month-to-month basis, giving businesses the needed flexibility without a long-term commitment.
• No early cancellation fees: If you decide to discontinue ETI’s services, there are no early cancellation fees.^.

The application process is easy: 

• Reach out to us,we’ll be happy to answer any of your questions. 
• Fill out the application form. 
• Provide accurate information about your business, contact details, and structure.
• Approval period. This may take a while and you asked to submit additional documentation or background checks.

The Higher the Trust, the Higher the Revenue

We have been providing services to high risk business industries since 1989, and if time has taught us anything, it’s that if your products and services are impeccable and your clients trust you, they will be loyal to you and your business. And if you’re lucky, they may even refer you to others.

So it’s not only about offering the best price possible, which we do,  it’s about helping you build a sustainable and profitable business that will last!

ETI’s solutions address the unique needs and challenges that high-risk businesses face, offering:

• Assessment tools for risk mitigation to reduce potential chargebacks and disputes.
• Customized expert solutions in line with industry regulations.
• Strong fraud prevention that safeguards sensitive customer information.
• The necessary resources and assistance for effective dispute response and management.
• Cutting-edge encryption and data security protocols.
• Guidance in navigating regulatory requirements for compliance assurance.
• A dedicated support team that processes and resolves disputes.
• It can integrate smoothly with current systems for online stores, subscription services, or physical stores.

Wrap Up

Revenue increase in high risk business industries is tough because of special challenges along the way. That’s why having good partners is key. Electronic Transfer Inc. helps you save money, give great services, and keep your business running smoothly, building trust with your customers. This approach pays off in the long run, especially now with cashless payments and online shopping booming, offering big chances for growth that you shouldn’t ignore.