High-Risk Merchant Account Provider
Whatever a business produces — branded t-shirts or software subscriptions — it needs a merchant account to process online payments. Nowadays, many payment service providers and banks offer
high-risk merchant solutions. Without them, high-risk businesses cannot process Visa / MasterCard credit and debit card payments.
High-risk payments: what’s wrong with them?
Though merchant application is easy, getting approved for a merchant account can prove to be a serious problem.
Luckily, high-risk processing always comes in handy for all those who get thrown overboard for no apparent reason.
High chargeback rates, large transaction volumes, and casual high-cost sales turn to be a real pain in the neck for high-risk e-commerce businesses. Since most of them work in highly regulated fields,
they run into problems when seeking reliable high-risk merchant solutions.
High-risk merchant solutions 101
Many merchants have no clue about specific traits that define high-risk payment processing. Let’s clear it up straight off the bat, determining what puts a ‘high-risk’ label on your business reputation.
Though criteria for evaluating
high-risk profile differ from one payment service provider to another, some factors are common for all parties.
- High fraud/chargeback rate. If your chargeback rate or level of fraud is a way too high, your business automatically falls under the high-risk category. This qualification depends solely on customer behaviuor patterns.
- Offshore business. If your business is registered in Cyprus, but you’re headquartered in Europe and work primarily with Canada, you may be also considered high-risk. The probability of fraud is a strong point here, but lax banking laws also matter, as they may put your business reputation at risk.
- High average purchase amount. Processing large B2B
is no good for whatever business type. Just because high-cost credit card transactions are often associated with high-risk businesses.
- Services/products of doubtful legality. This factor is the most closely associated with high-risk processing. Businesses having any doubtful area of focus (e.g. selling nutra products or distributing adult services) are considered high-risk.
- Practices of questionable character. If your business is involved in any type of doubtful sales/marketing tactics, most financial institutions will consider it high-risk.
- Poor credit history. While the above factors all turn around your business, this one is different — it focuses on your personal credit record. If it is poor, you’re all likely to join the high-risk crew.
These are the most general criteria that may be used for evaluating your business reputation. Since the high-risk e-commerce landscape is changing and evolving all the time, it’s essential to keep up with the latest shifts in the law. Opting for a reliable high-risk merchant processing provider, you can leave such challenges behind.
With PaySpace, high-risk processing turns hassle-free
High-risk merchants know how difficult getting the right merchant account may be. Back in 2009, PaySpace carved its own place in high-risk payment processing. Since then, PaySpace has significantly expanded its opportunities, enabling global high-risk payments across various
high-risk business industries.
Almost 10 years on from its launch, PaySpace became an experienced high-risk payment provider offering a full suite of payment processing services. Today, we focus primarily on high-risk payment solutions, working with SaaS, online gambling, and dating businesses worldwide. Among our clients for which we provide high-risk payment processing include:
- online gambling;
- crypto merchants;
- online dating;
- adult businesses;
- forex merchants;
- tech support;
- web hosting;
- travel booking;
Whenever your bank turns you away, let the leading high-risk payment provider help you out. PaySpace gives a hundred-percent guarantee that you’re never out of reach from getting the assistance right the moment you need it.
PaySpace payment provider: why us?
PaySpace believes that every online business has a set of specific needs, not depending on its industry, location, or size. That’s why we guide our clients through the entire merchant application journey, providing quality, one-on-one customer support.
Among the additional advantages of our high-risk merchant processing include:
- Large acquiring network. Since we worked with a sheer number of both local and international acquiring partners, we can recommend the top choice for your particular industry.
- PCI DSS compliance. Nowadays, the high-risk payments landscape is much different from what it looked like 10 years ago. That’s why we establish agreements with PCI DSS compliant banking partners only.
- Multi-currency support. PaySpace has ready-made solutions for accepting the world’s most popular currencies while also processing local and commonly used credit card brands (e.g. Visa / MasterCard).
- Fraud & chargeback management. Since fraud management is a key element of high-risk payment processing, PaySpace offers a full pack of leading-edge solutions to mitigate chargeback & fraud problems.
- Customization on the go. We don’t provide our merchants with an all-in-one business package. Instead, we define a set of individual business requirements, speaking with each merchant in person and discussing solutions available for optimal rates.
On top of it all, PaySpace offers a fast, smooth, and pain-free application process. No matter your service, product, industry, platform or device, applying for a merchant account is a piece of cake, as it takes a few minutes of your time.
So what’s the hold up for using the quality high-risk processing solutions? At the moment, they are just one click away. Hit the contact button and apply now!