Multiple Merchant Accounts

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The volume is too high. The industry seems risky. When it comes down to merchant accounts, banks seem to have more excuses than solutions. PSPs, on the contrary, are always looking for loopholes. Opening multiple merchant accounts is one of them. Check up this article to see what are the multiple merchant accounts and how does opening them helps you to succeed.

What are the multiple merchant accounts

Multiple merchant accounts are a set of merchant accounts belonging to one entity. The main reasons for opening multiple merchant accounts are the following:

Running multiple businesses. To those businessmen who run more than one company, multiple merchant accounts are the necessity. Imagine, there is a man who runs firms A, B and C. The business A is the main holder of a merchant account. Businesses B and C are also linked to this same account. Now, when a customer buys something from business B or C, he automatically sees business A in his bank statements.

Noticing an unfamiliar company in your transactions history is more than likely to raise a concern, right? As a result, customers might apply for chargebacks. If the level of chargebacks exceeds the agreed limit, the merchant account gets shut down. Thus, opening multiple merchant accounts is essential to entrepreneurs with numerous businesses. Not to mention those who run a couple of high-risk companies. Additional chargebacks will only add to already existing risks.

Lowering the price. If you run your multiple businesses under a single account, the price for processing each of your websites will be based on the highest-risk business. What that means, if you run two e-commerce stores and one CBD store, you’ll pay the price of processing CBD company for your two low-risk stores as well. Does it sound like an excellent financial strategy? Not really. With multiple merchant accounts, you’ll be able to set up processing rates for each one of the sites individually.
Decreasing risks. Not only opening multiple merchants accounts decreases the chargebacks ratio but also acts as an airbag for your companies’ budget. If one of the acquiring banks or processors of yours has a downtime, the others will still be safe. Thus, you’ll only have issues with one of your businesses. Whereas if you run all your companies under a single account, the crisis will impact all the businesses of yours. Besides, having a merchant account for each brand makes it easier to track sales.

Why Ikajo

For 15+ years, Ikajo International provides payment processing services to international merchants. During that time, our team has created state-of-art solutions for different business types. Ikajo offers fast and hassle-free solutions for opening multiple merchant accounts. It is possible, thanks to our vast network of acquiring banks. Moreover, Ikajo helps to identify fraudulent transactions and prevent chargebacks. Contact us today to get the best fitting solution!