Shopify Merchant Account
Shopify is a leading ecommerce merchant solution provider to small to mid-size online retail businesses. The company offers merchant services based on proven performance and security. Merchant accounts are basically a special category of ecommerce payment processing. They are tailor made for companies which have higher operational risks associated with them as compared to traditional ecommerce merchants. Fortunately, there are many services available in the marketplace for companies running ecommerce websites in less conventional categories. The most common high risk merchant accounts associated with ecommerce operations are those related to drop shipping and other Internet vendor systems. Many people become aware of these risks when they face problems with their credit cards. It becomes difficult to get loans with bad credit because the number of commercial banks and other financial institutions that provide loans for this category of clients is very low. A merchant account with Shopify makes it possible for an online retailer to accept payments from a wide range of suppliers and charge cards.
Many companies operating on the hemp platform also need specialized high risk merchant accounts. Some examples of this would be companies involved in the hemp delivery industry like flower shops, farmers or delivery agencies. Others operating in the clothing and fashion industry like apparel wholesalers or even fashion houses. In these cases, specialized solutions like Hemp to Hemp payment processing is available with Shopify. Another example of high risk merchant account includes companies which are in direct competition with established players in their market space. This could be companies selling items similar to those being sold by a competitor, or it could be an online bookstore which imports goods directly from suppliers in another country. If an online seller operates in such a context, it becomes necessary to find a merchant account provider that provides the lowest transaction fee among all the available third-party payment gateways. To identify these kinds of sellers, Shopify provides a search tool specifically designed for this purpose. By typing in the type of seller, such as an importer, you can get a list of available transaction fee providers matching your parameters.
Carefully Choosing A Shopify Merchant Account
You might consider getting a personal account if you only plan to sell items that you personally own. This is because you do not need to open a separate bank account to do so. Your personal account has the added advantage of being considered as non-guaranteed. This means you are not required to provide a guarantee or warranty in case a particular payment does not go through. However, you must ensure that the payment processor used by the shop has a mechanism to recover any funds left unpaid by customers. The choice between a personal bank account and a merchant account with Shopify is a decision that should be made carefully. Shopify allows you to shop around for different payment providers by setting up different shopping carts. Each provider charges a different rate of fee. You can use Shopify’s comparison engine to compare different rates and fees between all the providers.