What is a High-Volume Merchant Account?

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What is a High-Volume Merchant Account?

If you process a significant number of transactions regularly, you know that standard merchant accounts won’t work for your business. 

In addition to limiting transaction volume, these accounts just don’t offer the features or capabilities your business needs.

Fortunately, there’s a solution: a high-volume merchant account.

In this blog, we’ll discuss high-volume merchant accounts. We’ll also cover which businesses should use them and how they differ from standard merchant accounts and answer the question, “How does a merchant account work?”

Keep reading to learn more.

High-Volume Merchant Accounts 101

What is a high-volume merchant account?

A high-volume merchant account is a highly specialized type of payment processing account offered by a payment service provider (PSP) or financial institution. 

Because they’re so specialized, high-volume merchant accounts aren’t a good fit for every business. Instead, they’re designed to be used by companies that process a significant volume of transactions daily or monthly. 

To support the needs of high-volume businesses, high-volume merchant accounts offer some specialized features, including the following: 

  1. Greater Processing Capacity. The primary feature of high-volume merchant accounts is that they can handle large numbers of transactions simultaneously. This is a big deal for companies that process many transactions since it ensures they can manage their sales volume without delays, disruptions, or downtime. 
  2. Scalability. High-volume merchant accounts are flexible enough to scale alongside a growing business. They can accommodate greater transaction volumes over time, meaning companies using them aren’t limited by their merchant account. Merchant accounts also offer the features and agility needed to handle seasonal sales fluctuations or sudden surges during sales. 
  3. Business-Friendly Fee Structures. With the wrong financial institution or payment services provider, high-volume merchants can wind up paying a fortune in transaction fees. Fortunately, high-volume merchant account providers usually offer customized fee structures for high-volume merchants. These customized and business-friendly fee structures consider a business’s transaction volume and provide rates that are actually competitive. This, in turn, helps companies save money on payment processing costs and get the services they need without paying an arm and a leg. 
  4. Robust Security Features. Today’s high-volume merchant accounts take security seriously, and they help businesses ensure it by providing advanced security measures, including but not limited to fraud detection tools, tokenization, encryption, and other security protocols. These security features help protect sensitive customer information and minimize the risk of fraudulent transactions. 
  5. Quality Support. There are risks associated with high-volume transaction processing, and merchants need somewhere to turn when difficulties or challenges appear. Fortunately, high-volume merchant account providers usually offer dedicated support from experienced payment service providers. This helps merchants resolve problems quickly and avoid bottlenecks or technical issues that can disrupt service. 
  6. Payment Gateway Integration. Lastly, high-volume merchant accounts integrate with payment gateways and e-commerce platforms, allowing merchants to process their online transactions quickly and securely while providing flexible payment options to customers.

While high-volume merchant accounts offer a variety of perks and benefits, they also come with eligibility requirements that vary between financial institutions and payment service providers. 

If you're considering opening a high-volume merchant account, we recommend researching your options and comparing the benefits and features different payment providers offer. This is the best way to find the merchant account that will support your business and customers. 

Which Companies Should Use High-Volume Merchant Accounts?

High-volume merchant accounts cater to the needs of businesses, including but not limited to the following:

  • Ecommerce companies
  • Retail chains
  • Companies in the travel and hospitality industry
  • Subscription-based companies
  • Large retailers
  • Companies with high-ticket sales
  • Travel companies
  • And more

While the businesses above are common examples of companies in high-volume industries, it’s not an exhaustive list. If you think you might qualify for a high-volume merchant account, research your payment processor’s eligibility requirements and transaction volume cutoffs.

Seamless Chex: Your Source for High-Volume Merchant Accounts

If you’re looking for a high-volume merchant account that provides the features and services you need without charging abusive processing or transaction fees, Seamless Chex is here for you. 

Contact us today to learn more about our high-volume merchant accounts and how we can help you grow and scale your business. 

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