Furniture Online A High-Risk Business? Financial Institutions Think So

1. Furniture Online A High-Risk Business? Financial Institutions Think So It seems crazy to think that a furniture store online is considered a high-risk business. Why is this so? In the last 20 years, the world of e-commerce has not only changed how we do business, but it has also changed how we shop. It is all to easy to go shopping when we’re not best prepared to. This, according to financial institutions, is what can lead to buyer’s remorse, leading to returns and refunds. Another reason why financial institutions think furniture companies that operate online come with high-risk is due to their large order volume. It may be good for the business, perhaps, but can the business support volume of this kind? Perhaps the high-risk stamp for furniture sales companies is because online shoppers don’t get to see or touch the item until delivery. If the customer doesn’t like the feel of it or the touch of it, or if the colour or design is not to their liking, they usually return them. What comes with this is chargeback fees unless the furniture store has a no returns and no refund policy in place. A chargeback fee is the cost of reversing a transaction. If an online furniture store allows returns and refunds, the responsibility of the chargeback fee falls onto the merchant, not the financial institution. Some institutions can charge fees as high as $100 for high-risk merchant chargebacks. At first, it seems ludicrous that a furniture company is seen as high-risk, but when you consider these aspects, you can see why. Furniture sales merchant account applications are time-consuming and require a lot of red tape due to their high-risk profile. There is, however, help at hand to solve any troubles you may be having when attempting to get a merchant account.

2. What can help you is a connecting service that allows the businesses to leave their merchant account applications in the safest of hands while it sources a variety of accounts available. The application process is streamlined for efficiency, allowing you to digitally apply in a few simple steps. Then the connecting company goes to work to find suitable banking institutions that work best for your business and its needs. In the business world today, because of the internet, we can have customers from all parts of the world, buying products in currencies other than your own. For some small to medium sized companies, setting up a merchant account can take months and piles of paperwork. Getting it done for you is convenient, and when you consider how sooner you’ll have the cash flowing through your account, you’ll see a return on that investment very quickly. Furniture sales merchant accounts needn’t be a nightmare to set up. For a legal, efficient, and clever business move, why not look into a service that connects merchant account possibilities to your online furniture sales store? It may be high risk in some areas, but in practice, with a little bit of help starting out, many companies go on to do very well. When setting up your business, the wisest move for the fastest route to e- commerce is to trust a reliable connection provider who can help your furniture sales merchant account become a reality About us: Connected.Co is a solution providing service for businesses in need of merchant accounts. We are a part of a huge network of contacts, which help us to connect you to the merchant solution that is right for you. With over 20 years in the industry, we lead you to merchant account success. For more information, go to: https://connected.co 520 broadway 2nd floor Santa Monica, CA United States (90401) Contact Us: 4243222557 https://connected.co/