Businesses that need to obtain high risk merchant accounts or need a high risk payment gateway from high risk payment processors in order for them to accept credit and debit card payments find it much harder than regular online merchants. In this case, you could benefit from the high risk merchant services provided by Nochex Payment Services.
A standard high risk merchant account will:
• Charge higher setup, annual and transaction fees
• Impose a longer settlement period
• Offer increased account security
The payments associated with these business sectors are deemed as high risk by banks due to the nature of the business, the business model, and the way the product or service is delivered or carried out.
This may also be the case if you or your business has a poor credit history. However, in this instance it’s likely that higher fees will reduce over time as long as you make payments on time to improve your credit.
At Nochex payment services we specialise in helping any business to accept payments. We have established long-term, trusted relationships across the financial services industry, and so having established your requirements, we will work with our partners to give you the best possible opportunity of being able to accept payments.
You are likely to be classed as a high risk merchant if you fall into one of the following categories:
• CBD Oil
• Dating and Escort Services
• Domain Registration
• Events and Tickets
• Software Downloads
• Tobacco and E-Cigs
• Vehicle and Car Parts
• Tattoo Consumables
• Online Auctions
• Health and Wellness Products
• ISP and Hosting Services
• Direct Sales
• Alcohol Products
• Technical Support & Web Development
• Jewellery, Watches & Accessories
• Nightclubs and Bars
• Phone Locking Services
It can be challenging for businesses in these sectors to obtain a merchant account from high risk payment processors due to the level of risk involved and the potential for high volumes of chargebacks.
However, we have vast experience in setting up secure payment solutions for those operating in high risk sectors; we can identify, plan, and implement a custom solution you can have confidence in.
We provide a number of very secure payment solutions that will protect your business from risks such as chargebacks and credit card fraud. This includes our secure payment gateway which protects both you from potential losses associated with chargebacks and credit card fraud.
Our gateway features high levels of control and enhanced security, and is equipped with:
• Hotlists that allow you to deny payments from specific emails, IPs, countries, devices, and addresses.
• Powerful and flexible card verification and security tools.
• Enhanced reporting functions
Banks are often wary about setting up accounts and card processing for unfamiliar businesses in high risk industries.
Luckily, our partnered acquirers have worked with us for some time and we have established strong relationships with them. They are therefore more likely to consider opening accounts for high risk merchants when those merchants are processing payments using our high risk merchant account payment gateway with its specific risk management tools in effect.
We can also help you to access additional payment services to increase the range of ways for you to get paid, such as:
• Telephone Payments
• Recurring Payments
• Email and Invoice Payments