PayCly Blog

High-Risk Payment Gateway for Deploying the Best Payment Practices to your Online Business

If you own a small or large enterprise, you must get a payment gateway for high risk business. This is because a payment gateway can provide numerous benefits to both the merchant and the customer.

According to recent market performance studies, 96 percent of Americans prefer online shopping for various reasons. Online shopping is a very convenient and hassle-free way to assess your priorities in a competitive market. Credit cards and debit cards have been around for a long time, but they are rarely used for shopping in a traditional retail store.

With the rise of online shopping, the use of credit cards, debit cards, and other payment cards has become more common in the marketplace.

As a business owner, whether you sell your items online or in person, you must have a merchant account in order to accept payments made with various credit cards online or in person.

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As a merchant, you can switch between bank accounts for your company's online transactions. This is the time to take your company to the next level by opening a business bank account. A Merchant Bank Account enables them to accept payments via various methods such as credit card, debit card, net banking, and other digital payment methods. Using a single account can also make calculating profit and loss easier. Read all the way to the end to find out if you should open a merchant account with the bank.

Some of the High Risk Payment Processors rate influencing factors

Privileged services do not affect the basic rate, but they do affect your markup in the form of PCI compliance, merchant gateway, statement fees, and so on. Please consider all costs before registering for an account.

Ticket size:

The price of your ticket is affected by the size of your ticket. Larger ticket sizes are considered high-risk, which will eventually increase your rate.

PCI Compliance:

PCI compliance is a pledge to safeguard the customer's identity. It is the set of rules that a company must follow in order to keep their customers' personal information safe.

Other factors to consider:

Many processors will charge you a minimum fee if you do not meet a certain volume of processing. Many of them will not even show it to you. It's also worth noting that if you have a CNP (Card not present), you might get a better rate; otherwise, you'll be charged extra.

There is no control over the rates because each company has its own entity that decides on the rate. There may be a standard rate determined by a group or a region, but no one can claim that the rate can be matched or that there is a single pricing model for all types of businesses.

Before you sign, go over your contract page by page and don't be afraid to ask for what you want. Then, every month, read your statements and check your effective rate. If something seems off or your rates suddenly rise, you have every right to ask questions and receive appropriate answers. If you're not happy, please look for something better.

What are the advantages of having the best high risk payment processors?

Here are some of the advantages of using a best processor for your transactions:

Improved Customer Experience

The payment gateway provides customers with payment flexibility. They can use your services and purchase your products whenever they want by making a quick payment. This can lead to an increase in customers as well as their satisfaction.

Increase in Sales

As previously stated, customer satisfaction leads to more customers. This assists your company in gaining more loyal customers and increasing sales. In addition, the merchant account handles and manages all transactions without any problems or errors.

Accepts a variety of payment methods

Each customer uses a different payment method based on their convenience. If you are a merchant, you should prepare your company to accept various payment methods. This includes the credit card in particular.

Payment Fraud Prevention

Payment fraud is common in business. Furthermore, there are numerous fraud techniques that can easily fool a person. However, when you use a merchant account, you also get the bank's security features to ensure that you get genuine money for your original product and service.

How to select the best high risk payment provider for your high-risk business?

In this article, we will try to focus on some key factors that will assist you in selecting the best merchant service provider for your business.

1. Fee rates that are clear and transparent

This is the most important factor to consider before choosing a merchant account. A provider may charge you very low processing fees to entice you to open an account with them, but then charge you very high fees in the name of other fees. A PCI fee is one such fee that a merchant must pay in order to protect both the merchant's and the customer's account information. So, you must consider all rates before deciding on the best merchant service provider with a transparent fee structure.

2. Investigate the Fraud Detection Program

In recent years, there has been a lot of evidence of fraud in the cyber world. Fraudsters are increasingly targeting small and medium-sized businesses because they are considered a "easy target." As a result, one must be aware of the service provider's data breach security programme.

3. Avoid the Misleading Advertisement

Advertisement can be a very effective disguise. The basic idea behind an advertisement is to provide customers with accurate information about a company's product. However, this does not appear to be the case all of the time. Companies frequently hire agents with no relevant educational background or interest. There are other factors that led them to promote their product in an opaque manner. Try not to fall into such a trap. Conduct thorough internet research to find the best merchant service provider that meets all of your requirements.

4. Post-Sales Customer Service Support

It's not just your hardware or software products that require customer service assistance after purchase; customer service for presales and post-sales is required for almost everything we buy or buy from. It can take many different forms. Some companies will assist you via email and chat, while others may assign you a dedicated representative for your account.

5. Inquire about the average fund processing time.

You might overlook this while looking for information about your provider's other services. However, a predictable time is always required to have an idea in order to have a proper cash flow. So, if you are in a business that requires continuous fund transfers, research the average time and select the best merchant service provider accordingly.

6. Software Compatibility for Digital Data Management

The days of needing a separate rack to store your sales receipts are long gone, as the cloud-based system has taken their place. It digitally stores our data without using any memory. You only need an internet connection and an electronic device to track your data from anywhere in the world. There is a lot of software available on the internet for the same purpose.

7. The Merchant Account Provider's History

Last but not least, you must conduct proper market research to determine the merchant account provider's behaviour. A thorough market research will guide you in examining the provider's previous history.

Why you should choose PayCly for getting an International High Risk Payment Gateway?

If you are experiencing problems with your payment processing methods, please contact PayCly. We offer specialized expert assistance for high-risk merchant account, credit card processing, and other issues.

We recommend that you request interchange-plus pricing wherever you can. Even if merchant accounts never promote these plans, they are frequently available. It is the most transparent payment model with insufficient margin.

PayCly has team of online payment processor experts and banking network relationships that collaborates closely with merchants to ensure you get the best for your business needs.

Overall, we are here to provide you with accurate information on how to navigate this fast-paced, ever-changing world.


What is Payment Gateway?

A gateway that simply allows the merchant to enter the e-commerce market by accepting transactions. This is the company's online point of sale. All you need is a merchant license and a merchant account. Then you can obtain a payment gateway for your company.

What is high risk payment gateway?

A high-risk payment gateway allows customers to enter their credit card information and then securely transmit sensitive financial data from the customer, the business, the company, and the bank.

What is considered a high risk transaction?

High risk transactions are defined as transactions in which there is a high risk of loss. When you buy junk bonds, you are engaging in a high-risk transaction because there is a good chance you will lose all of your money.

Which payment method is high risk?

Credit Cards are highly flexible and most widely used payment gateway solution all over the world. But Credit card payments are also easy to dispute, which ultimately puts you at risk of online frauds. Credit card payments, in fact, have the highest dispute rate of any payment method.