Tailoredpay review

TailoredPay – A Complete Brand Review

TailoredPay is an e-commerce payment processing solution provider that caters to businesses from various industries. TailoredPay has been in the industry for more than four years. It takes pride in understanding all businesses and their payment processing needs. TailoredPay relies on a seasoned team with a background in fintech and IT solutions.

Browsing through its website will show a business-friendly company. Unlike other payment service providers, it skips the financial jargon and makes it easy for merchants to understand its services. Among some of them are payment gateway integration and transaction processing.

As its name suggests, TailoredPay creates its payment platform to tailor-fit any business size, risk level, or payment processing need. It caters to traditional e-commerce companies and high-risk companies as it helps make online transactions seamless and inclusive to all.

For more information on TailoredPay, let’s review its services, rates, and industries served.

Overview of High-Risk Merchant Accounts and High-Risk Credit Card Processing

TailoredPay is open to all business types, including those deemed high-risk by traditional banks and payment services. It invites high-risk merchants to apply through its website in three easy steps:

  1. Complete a brief online form and sign the merchant processing agreement.
  2. Once submitted, an underwriter will review it within 48 to 72 hours.
  3. Once approved, it will have your personalized portal set up immediately for you to begin processing payments efficiently.

To see your chances of getting a high-risk merchant account with TailoredPay, you can browse its list of high-risk merchant industries it has done business with.

Services Offered by TailoredPay

Here is a quick overview of services for TailoredPay merchants.

  • Chargeback Mitigation

TailoredPay’s charged mitigation tools are helpful for high-volume and high-risk businesses, as well as those with an online marketplace. First, merchants will receive real-time notifications if a customer complains about a charge. You are then presented with an option to proceed with the refund. This fast and automated process will save you from sudden chargeback fees while settling disputes. However, it is important to note that the company will charge $40 for every chargeback notification. Keep this in mind if you’re considering employing its services.

  • Payment Gateway Integration

TailoredPay works with payment gateways, which it can integrate into your website. With this service, you will be able to process online and virtual payments easily. Its payment gateways of choice include USAePay, Authorize.Net, and Nmi Payment Gateway.

  • Virtual Credit Card Terminal

For non-online payments, the company also offers a virtual credit card terminal. Merchants can manually input payment information from phone and email transactions. This will allow you to accept all types of transactions, whether at point-of-sale or remotely. This is ideal for businesses with both e-commerce and retail stores.

  • Payment Processing

TailoredPay allows merchants to accept and process payments from credit and debit cards. This may be done through multiple devices such as desktop and mobile.

  • E-commerce Platform Integration

Merchants have an option to integrate payment solutions with numerous e-commerce platforms and shopping cart software. That way, you do not need to make any changes to your business model or marketplace. TailoredPay services will simply complement it.

Its partners include Shopify, Magento, WooCommerce, Volusion, 3dcart, OpenCart, PrestaShop, and QuickBooks.

  • Secure Systems

All TailoredPay systems are equipped with top security and encryption systems. This keeps merchants and their customers protected from data fraud and other risky consequences of transacting online.

Tailoredpay payment processing solutions

Rates of TailoredPay

TailoredPay’s rate starts at 2.6 percent plus $0.15 per transaction. It claims to offer industry minimum rates for all merchant types. However, you will only get an idea of the rate range upon requesting a quote. You may request one through the website without cost or commitment from your end.

Apart from its cost-effective rates, TailorPay also promises no setup and application fees.

High-Risk Industries Served By TailoredPay

  • Adult industry
  • Business consulting
  • CBD
  • Collection agencies
  • Credit repair
  • E-cig/vape
  • Extended warranty
  • Supplements
  • Dropshipping
  • Electronic cigarettes
  • Firearms
  • Health and beauty
  • Identity theft protection
  • Jewelry
  • Large ticket accounts
  • Lending
  • Moving and transportation
  • Nutraceutical
  • Online dating
  • Online electronic sales
  • Online furniture
  • Precious metals
  • Psychics
  • Recurring billing
  • SEO/SEM
  • Software and e-book
  • Telemedicine
  • Travel
  • Web design/hosting

For industries not included in the list above, you may directly contact the company hotline or apply online to discuss your business needs and eligibility.

TailoredPay logoOther Notable Features of TailoredPay’s High-Risk Merchant Accounts

TailoredPay’s services support companies with specialized business models as well, such as collection agencies and recurring billing providers.

  • Collection Agencies

Collection agencies have the challenging task of helping creditors and financial institutions collect payables from debtors.

For these high-risk companies, TailoredPay offers its assistance by customizing payment solutions to make their job easier. However, they have additional requirements for such companies to apply for a high-risk merchant account, such as:

  1. A chargeback ratio below 2.5%
  2. An already secure and operational website
  • Recurring Billing

Recurring billing businesses charge customers at regular intervals when subscribing to its services. They are deemed to have high-risk credit card processing needs, and therefore, have difficulty partnering with payment service providers. This is where TailoredPay can be of help. It can customize your payment gateway to schedule recurring payment collections.

Reputation and Reviews of TailoredPay

TailoredPay claims to have solid partnerships with more than 25 different merchant banks. On top of that, it has a team of experts with in-depth industry knowledge. This gives them an advantage in solving specific business needs.

Based on its website, the company has an average satisfaction rating of 4.6 stars from 22 reviews. Most testimonials gave positive feedback on the company’s easy application process, the system’s ease of use, and low industry rates. Many also mention reliable customer service and an impressive sales team.

Apart from on-site reviews, other blogs also credit the company for its seamless system and the simple yet efficient delivery of payment services.

Conclusion

TailoredPay delivers innovative payment processing solutions for businesses with different requirements. Its goal is to help merchants offer an easy and user-friendly payment experience for their customers. With its innovative services in processing and systems integration, merchants will be able to reap the rewards of efficient cash flow, chargeback prevention, and overall customer satisfaction.

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