High-risk merchants often face difficulties in finding a trustworthy payment processor. The application process for high-risk payment processing can be time-consuming and require extra effort. Fortunately, at Shark Processing, we specialize in high-risk payments and can assist you in opening a high-risk merchant account, no matter your industry. Our team of experts is here to support you every step of the way.
Processing high-risk payments is crucial for businesses that handle online transactions. It ensures that customer payments are processed securely, protecting both the customer and the company. Various payment methods, such as credit cards, debit cards, and other options, can be used for processing. To stay competitive, businesses must use reliable high-risk payment processing companies like Shark Processing that guarantees safe transactions.
Payment processing is more than facilitating payments and ensuring money goes through the merchant’s account. There are a lot of other features that high risk processing companies like Shark Processing offers; some of them are as follows:
Mobile payments enable users to transact using their phones and are the newest cashless payment technology. Merchants can receive mobile credit card reader devices from payment processors that customers can use in-store. This enables people to transfer funds without a card.
As its name implies, simple checkout is a feature that makes the purchasing process simpler for online customers. With the help of this functionality, retailers may create "Buy Now" buttons that take customers to a streamlined checkout page where they can enter their payment details. Additionally, it serves as a digital call to action that motivates profitable consumer behavior.
Automated recurring billing might be helpful for companies that offer monthly services. When customers want to subscribe, you may use this functionality to bill them regularly. Without human intervention, payment processors, like Shark Processing, will automatically charge their linked account and disburse the funds into your merchant account.
Customer information management helps to automatically fill up your customers’ order fulfillment forms when they decide to make another purchase. This feature allows you to safely and securely save information such as the purchasers’ names, credit card information, contact information, shipping addresses, and payment method preferences. Additionally, all data is encrypted to safeguard customers against fraud and identity theft.
This tool automatically detects possible fraud by analyzing consumer information entered during the purchase. As a result, potentially fraudulent transactions are automatically refused, and both the customer and the merchant receive reports alerting them to the potential risk.
Due to its low processing costs, e-Checks are increasingly replacing checks as a favored mode of payment for both consumers and businesses. Giving your customers access to this feature may increase your payment alternatives and serve a broader range of customers.
Drag-and-drop shopping carts make web design more efficient and less expensive for small enterprises to launch online stores. This functionality allows customers to make simple payments without affecting their online presence.
Many industries are considered high-risk due to their higher risk of chargebacks, fraud, and participation with products and services that can be seen adversely. These high-risk industries include:
These businesses deserve to enjoy seamless, safe, and efficient payments. That’s why several high-risk payment processors like Shark Processing have taken it upon themselves to cater to these merchants’ needs.
Payment Processing services ultimately enhance the shopping experience for you and your customers and help to support long-term revenue growth, and initially enable cashless payments. Here’s why you should only work with the top payment processing gateways:
To use a payment processor, the merchant must pay a charge. The price of these fees isn’t fixed, much like other high-risk merchant services offered by Shark Processing. Payment processors decide the costs based on several variables. These comprise:
How can you be sure you’re associating with a provider guaranteed to expand your business? You should take into account the following pointers when choosing high-risk payment solutions:
Here’s how to apply for high-risk payment processing:
Shark Processing can be your ultimate partner for finding the best payment gateway for your company. We guide you through the dynamic world of high-risk payment processing using our knowledge and broad network.
Our committed team knows the particular issues you encounter as a high-risk merchant and will collaborate with you to provide a key that meets your requirements. We have developed connections with recognized high-risk payment processors to give you access to dependable and secure payment channels.
The bank uses the information the customer provides when they complete a transaction by putting their card information into the virtual point-of-sale (VPOS) to check that everything is accurate. The bank checks to determine if the buyer’s account has enough money and the information provided is accurate. Once approved, the payment gateway sends the data to the card’s brand so that it may release the money and then arranges for its transfer into the merchant’s account.
Aside from the industry, It is dependent on various factors like your average transaction cost, the method of payment buyers usually choose, and your credit score contributes to your risk rating.
When searching for a payment gateway provider for high-risk accounts, look for reputable high-risk merchant account providers. Payment processing companies like Shark Processing are perfect for high-risk merchant accounts as they are experienced in handling high-risk businesses and offering tailored solutions to meet specific needs.
Any company operating today must maintain a consistent pace with competitors. Sticking with conventional cold, hard cash, and bank transfers can put you behind if most of your competition takes other ways of payment, both online and offline.
High-risk payment processing offers solutions that expand the possibilities for you and your buyers.
Low-risk merchants sell conventional goods and services, with usual transactions costing less than $500. Most businesses within this category deal with apparel, furniture, homeware, bags, shoes, and other predictable goods that usually don’t experience chargebacks.
Factors like dealing in products or services that fall under a legal gray area may be present in the high-risk category and low-risk industries, with the apparent difference being that mid-risk merchants may only tick off a small number of them.
High-risk merchants might meet most if not all, listed criteria. It is crucial to note that soar payments specialize in mid-risk and some specific high-risk industries.
The question has no definitive answer as it may vary according to your payment processor. Some payment processors will demand an upfront fee to process your application, but others won’t charge you anything.
Whether you pay the fee at the time of application or after your payment processing facilities are operational, these payment processors will recoup the cost of establishing your account.
Shark Processing has had years of experience with various high-risk merchants, offering seamless, polished solutions that make it easier to run your business.
For the record, payment processors accept payments in various currencies. However, their capacity and each client’s needs will considerably impact the currencies they can accept.
Not every payment gateway suits every business, especially if you’re considered high-risk. To find the best payment gateway for you, look for a reliable payment gateway through Shark Processing, which specializes in offshore business needs.
Integration with a payment gateway involves connecting your website and the gateway’s API. This allows for secure and seamless online credit card processing.
Yes, our payment gateways prioritize security measures to protect sensitive customer data. From encryption protocols to fraud prevention systems, we ensure a secure payment environment for your business and customers.
Consider factors like competitive pricing, reliability as a risk merchant account provider, processing history, dedicated customer support, and compatibility with your industry (such as a CBD or vape merchant account). Look for payment gateway platforms like ours that cater to businesses operating in high-risk or offshore environments and accept credit cards.
