5 Types of Accounts Considered High-Risk by Payment Gateways
There has been a rise in high risk in business management in recent times. High-risk payment gateways are the ones that deal with high-risk products and services for several reasons. The following are the five types of accounts considered to be high-risk payment gateway.
This is an international service provider serving customers all over the globe with their online high-risk payment gateways. The Company has various payment methods and has been successfully integrating them for the different types of business owners on the international borders. This Company was founded in 2013 and has been functional ever since. There is a commission that is involved in each successful transaction. The Company, however, does not charge the fees related to integration charges and has no type of monthly payments or any form of hidden costs. The sales department is advised to be referred for more detailed information regarding the updated payments scheme.
The competitive features of this high-risk payment gateway are as follows:
- In addition, there is a feature to access mobile payments via this payment gateway and payments made via SMS.
- The customer can ask for withdrawal at any time possible. The process of withdrawal is through bank transfers.
- There is a feature of multi-currency, which is the ability to pay in the currency of the preferred country by the customer using the payment gateway.
- The Company covers all continents and provides over 200 localized payment methods.
- This has no chargeback risks at all while using alternative payment methods.
This high-risk payment gateway is known to be serving for more than ten years in all types of payment processing features. This type of gateway is best suitable for medium to large businesses, companies looking for a high-risk payment provider, and start-ups. The transaction fee for the gateway starts at 1.2% + $0.3, which is calculated per transaction. This depends on the type of business, the volume of the trade, and the country of incorporation. However, the integration is possible by using API, Virtual Terminal, Hosted payment page, and plugins for all the CMS.
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The competitive features for Playspace payment gateway are as follows:
- The currency conversion is dynamic, which provides any conversion of currency, including bitcoin.
- The customer has a wide plethora of 150 alternative payment methods to choose from depending on their customer preference.
- There is a presence of effective anti-fraud and chargeback solutions as well as advanced reporting and notifications.
- Customers can make withdrawals from any bank all over the world.
- There is a presence that 90% of the chargeback cases are ruled in favor of the merchants, which enables a positive chargeback dispute for the merchants.
- This gateway works with both high-risk and low-risk businesses.
- It has an intelligent billing process that functions in over 130 supported countries.
This type of high-risk payment gateway allows high risk merchant accounts to deal and accept payments through credit cards on the website by using checks and contactless methods. However, the commission is divided into two parts:
- The Company offers a separate gateway differently for those customers who have their merchant account. The charge for this feature is $25 per month along with 10 cents per transaction, and 10 cents as a daily batch fee is added with the monthly amount.
- For users who do not have their merchant account, the commission for using this gateway is also $25 per month, and the transaction fee is 2.9% + 30 cents.
The competitive features of Authorize.Net are as follows:
- The customers enjoy a quality of recurring payment methods, which Customers can customize, deepening the consumer’s preference. There is also a possibility of connecting the service of updating automatically of the customer bank data.
- The ability to send invoices through mailings and result in receiving automatic notifications.
- The presence of a buy button enables the easy submission of an order or form online donations. Customers can configure it manually as well as for ready-made code usage.
- There is a presence of advanced fraud detection and prevention systems. The payment system has several customizable parameters for the merchant to adhere to.
This is one of the most well-known international payment providers for high-risk payment gateway. The Company has been known to render its business-to-business or B2B format that includes high-risk companies, e-commerce companies, and online retail businesses. The number of industries that PayKings causes its services to are CBD, Adult, Dating, Firearms, Debt collection, Pawnshops, travelling, etc. The transaction fee starts at 2.49% and depends on the processing histories and a good business vertical.
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The competitive features of PayKings as a payment gateway are as follows:
- The payments are recurring in nature and have a proper presentation of an effective chargeback management system.
- There is availability for all shopping carts that provide free payment plugins. This process is known as ACH payment processing.
- There are several credit card processing methods, namely Level 1, Level 2, and Level 3. The plans are, however, divided by the information required to process the transaction.
- Customers can place orders from mobile phones, and telephone orders are also accepted for this payment gateway.
- The Company provides PCI DSS certification and ensures a high level of Security that is encrypted and can’t be stolen.
PayPal has been a well-known payment aggregator for various types of business. The Company, however, has been offering its service to more than 170 countries with more than 300 types of payment methods, including local acquiring. The customer can choose the available payment methods via a personal account. This gateway feature has been in action since 2016 and has been open for legal entities as for the individual. The transaction fee of a high-risk payment gateway starts at 2.4% + $0.2 and depends on three things: the type of business, the risk level of the Company, and the transaction value.
The features of PayPal are as follows:
- Pre-installed Security for fraud prevention software
- More than ten withdrawals with more than 300 payment methods available
- The possibility and ability to work in a high-risk environment
- Invoicing and Multi-currency
The five payment gateways that have been described above would be deemed as a reference for accounts considered high-risk by payment gateways.