Internet based merchants or often times called ecommerce merchants are the majority of high risk merchants placed by AMP. Why, because unlike retail and swiped merchants, these online merchants use the internet as their delivery and marketing system as these companies use search optimization, social media and other forms of internet marketing to cultivate consumer purchases.
Why are internet merchants considered high risk merchants? There are some specific factors that clearly differentiate the risk profile of these merchants some of which include: (1) with the proliferation of the internet, more and more companies are start-ups and working from a home office –vand as the business community knows, many companies unfortunately do not stay in business past their first year which can cause chargebacks should a product or service be delinquent in the future delivery date; many internet companies source out their products and delivery and only serve as a marketing platform and lead generation of that given product; web based companies traditionally have a higher degree of risk with regard to staying in business past 3 years and many other reasons.
The internet has many great and solid companies selling valuable and valued products; however the fraud on the internet is rampant which rogue companies misrepresenting various products.
E commerce merchants need a payment gateway to process; AMP is able to connect with a multitude of online payment gateways ranging from authorize.net, nmi.com, verisign and hundreds of others to make the conversion process simple and efficient. Working with our gateways, AMP will integrate the shopping cart which is a software program that allows our merchant’s customers to collect different products prior to the checkout process.
We also enable our online and internet based merchants to have a virtual terminal and and process transactions using this method.
In short, the growth of online, internet and e-commerce merchants will continue to exponentially grow as more and more entrepreneurs are developing new and innovative business models to use technology drive its business.