Merchant Underwriting Process: High Risk Merchant account is basically a line of credit card. In case of chargebacks, the amount is deducted from the merchants account, but if there are not enough funds in the bank to pay for chargeback then the provider pays that amount right away to the customer. It is important to open a merchant account to carry out financial transactions especially if your business requires a payment gateway through which you can accept payment by multiple payment methods. To acquire a merchant account, you have to first find a card processor, which meets your needs and provides you services at a reasonable price.
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