Category Archives: Credit Card Processing

High-Risk Credit Card Processing

High-risk credit processing is defined as merchant accounts that banks as well as businesses do not prefer to do deal with. It is a rather broad term that can indicate a poor credit on the merchant’s behalf or can be associated with various business segments for which banks and other financial institutions do not wish to participate in.

Prior to accepting credit card payments, a business is supposed to have a merchant account with an acquiring bank. Merchant accounts can be divided into two categories: high risk and low risk. A high-risk payment is only required if the business is suspected to be risky.It is important to remember that every individual sees the term “risk” in a different light for varied business types.

Companies or individuals with bad credit may be turned down by one institution, but may be welcomed by another. Typical reasons why financial institutions reject merchants is due to higher risk of potential scam charges.

The company on its own may have a low risk of fraud, but it could be because of the merchant’s inconsistent status with the social worth of an institution. Examples of high-risk credit card processing companies include adult websites, established legal gaming, prepaid telephone cards, telemarketing, dating services, travel businesses, high-risk websites offerings, and e-commerce businesses.

Problems with High-Risk Credit Card Processing

When a business is labeled as having “high risk”, the following disadvantages can be expected.

• Extra fees – Since processors assume that chargebacks are unavoidable for high-risk merchants; they charge extra fees in order to compensate for the high risk involved. If your business is labeled as high risk, you can expect to pay somewhere between 3.5% and 4.5%, whereas the regular processing fees lies between 1.5% and 2%.

• Extra chargeback fees – Similar to paying extra regular fees, all high-risk merchants are required to pay increased chargeback rates. In addition, any high-risk merchant who walks into an extra chargeback environment will have to pay even more.

• Income-stealing rolling reserves – A merchant account reserve is generally required by a high-risk payment processor. This reserve is used by the acquiring bank in times of emergencies in order to safeguard its assets. In the case of a chargeback filing against a company where the merchant fails to pay back the amount, the reserve will be utilized to cover any losses. A lot of high-risk merchants keep a rolling reserve, where part of the monthly sales are kept in reserve and then released gradually after a certain amount of time. Even though the funds present in the reserve are the merchant’s, they cannot be accessed after a certain time period has passed, which can result in serious cash flow issues.

If you have been deemed a high-risk merchant, then you need to find the right high-risk credit card processing company that will help you conduct safe transactions and offer the right solutions for your credit card processing.

Review of Allied Wallet – A high-risk Payment Solution Provider

Review of Allied Wallet – A high-risk Payment Solution Provider

Introduction to Allied Wallet

Allied Wallet is recognised as one of the best high-risk payment solution providers. They are also a pro in credit card processing. Doing business online has become one of the most common things nowadays. You need to understand that if you want to lead a prosperous business, you will have to get it online. In order to make that possible, you need to establish a payment gateway because you will need the ability to accept payments made by your clients and customer. For doing just that you will need the services of Allied Wallet and some of their solutions. Making an e-Commerce website requires a lot of knowledge and hard work, but first thing about which every business person must think of is accepting credit cards, and this is another feature of Allied Wallet.

The Ability to Accept Payments on a global scale

If you are an ambitious person, then you will have in your best interest to increase the level of your profit as much as you can. With the ability to accept payments from all around the world, doubtlessly you are going to do so, and this is just one of many things where Allied Wallet can help you. This company allows you to receive payments in almost 164 different currencies and from 196 different countries. It will become easy to receive payment because the form of the payment doesn’t matter, be that debit card payment, check, wire transfer, bank account or cash.

Become Partners

Another great thing about Allied Wallet is that you can work with them as well. You can easily re-sell their services and receive a certain percentage of the money they get for their services. Since the rate of Allied Wallet are as low as 1.95% that makes the job easier when it comes to re-selling the services to someone. Another thing which draws the attention of more businesses is that they can suit everyone’s need because of their adjustability since they have so many useful features.

The Features:

• 24 Hour Live Chat, Phone, or Email Support
• Offshore Credit Card Processing Solutions
• Fraud Prevention Features
• Accept Currencies from 164+ Countries
• Accept Credit Cards without Limitations
• Fast Account Setup
• Safe and Secure Encrypted Transactions
• Chargeback Prevention Features

Customer Support

As it was already mentioned in “features” column, using their services enables you to contact the customer support at any moment. Doing business online requires this feature because when there is a stoppage in money flow, it must be resolved as quickly as possible because that will inflict some serious damage to the income. The team of professionals will handle all kinds of problems which you encounter in no time. Contact them via phone, e-mail or live chat.

In The End

The Allied Wallet is one of many payments solutions on the Internet, and you need to be very careful when it comes to doing business with these companies. The Web is a very dangerous place because you can get conned easily and lose all your money. Not only yours but your client’s too. Thread carefully. However, Allied Wallet is a very trusted and reliable high-risk payment solution provider.

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