High Risk Merchant Accounts

Online Gaming Merchant Accounts In Improving Security And Trust Among Players

Like other high-risk industries, online gaming is also prone to many security and financial fraud issues. The players feel insecure for many reasons, but with the presence of well-equipped high-risk merchant accounts, it is simpler now to provide better safety to the players. As a result, trust and customer loyalty improve and, in turn, brings more profit for a gaming merchant. Here, in this blog, are some innovative ways that gaming merchants try along with their merchant account providers. The ultimate aim is to make gaming players feel secure while they play.

Reassure Your Customers Before Purchase

Gaming merchant account providers take customers’ security quite seriously. They approve only those merchants who can reassure about a safer payment experience. Research reports show that safety assurance before purchasing a service or product impresses prospective customers. They tend to complete a purchase if they get a surety of security.

The digital authentication logos help a lot to create a positive image of a gaming platform. Mentioning things like ‘Mastercard Secure,’ ‘Verified by Visa,’ etc., helps a lot in clearing the doubts of the players about safer transactions. The security indicators for a gaming merchant are:

Digital authentical logos.
Industry regulators and associations logos.
Digital security logos.
Third-party consumer protection.

Percentage of people in different countries tend to purchase due to a digital authentication logo

Australia – 65%
Brazil – 73%
USA – 60%
Argentina – 68%
Germany – 43%
Mexico – 73%
Columbia – 66%
Japan – 49%
UK – 47%
Spain – 74%

Commit To Providing Comfort And Support While Creating An Account

Making an account by a customer is the first step, and the online gaming merchant account holders should try to give the best experience on this part. According to a survey, 88% of people prefer to make an account when purchasing video content. If they see that the gaming platform gives round-the-clock support to the players, they happily create an account.

Another comfort you can give your customers as a merchant is the option to save credit card details. 43% of gamers are most likely to make the account if they can save payment details in the account. Similarly, 40% of respondents tend to create an account if their details get updated automatically when their card is about to expire.

User Authentication Makes People Think You Are Dedicated To Customer Security

Customers always take the merchants seriously who make serious efforts in the authentication process. However, it extends the log-in time for a player, but because the customers know it can save them from a financial threat, they are happy to authenticate themselves.

Fingerprint scanning and biometric option are the two prime ways of authentication, and the players are happy to do both. According to their preference, they choose the option. Mostly gambling merchant account holders offer the choice to the customers to authenticate in the desired manner. 87% of players are ready to establish their identity in both ways.

Here is the percentage of people according to the age group for the preference of varied biometric authentication.

Voice recognition – 4% (Age – 18-34 yrs) , 5% (Age- 35-54 yrs) , 11% (Age – 55+ yrs)
Face ID – 19% (Age – 18-34yrs), 16% (Age 35-54yrs) , 12% (Age 55+)
Fingerprint – 65% (Age – 18-34yrs), 65% (Age – 35-54 yrs), 49% (Age – 55+)

Send Timely Payment Confirmation When Your Customers Make a Payment

Any consumer wants to get immediate confirmation or notification after making a payment. The reassurance after payment can be sent in different ways such as through e-mail, text, on-screen notification, etc. The point is some assurance of received payment is vital to keep the customers building trust on your gaming platform.

Percentage of People In Different Countries For Payment Confirmation –

Email – Brazil 89%, UK 85%, Germany 83%, Spain 73%, Colombia 68%
On-Screen Confirmation – Mexico 53%, Spain 57%, UK 87%, Columbia 47%
Text – UK 52%, China 69%, Mexico 23%, Argentia 15%, Brazil 17%
Push Notifications – Japan 24%, U.S 45%, Australia 13%, UK 11%, Germany 12%

The more transparent you are, the more your customers will trust you. Customers today are pretty intelligent and aware of their rights. A business can never afford to take its customers for granted. However, the merchants today are quite honest because they want to retain the consumers for a long time, in fact, for their whole life. It is because, beyond short-term benefits, they look to achieve their player’s loyalty.

Conclusion

The strong team of gaming merchants, merchant account providers, and the gaming payment gateway create a secure network for the players. Gaming content users can consume the services without fear of losing their financial data or identity through identity theft. People can play on gaming platforms stress-free thanks to the new technology and its amalgamation with the gaming industry. Innovative security and payment processing tools have made things simpler for merchants and customers. No need to mention that it all happens due to the supportive presence of the gaming merchant account providers. Don’t you agree?

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How Do High-Risk Merchant Accounts Surround Businesses With a Flourishing Atmosphere?

A high-risk merchant account is a one-stop solution for merchants in many aspects, and it is the first and foremost platform for survival. All high-risk industries need merchant accounts to operate business smoothly. IPTV merchants, online casinos, iGaming, Forex traders, and eCommerce websites all need a place to get paid for a high-risk business. The constant contradiction with legal formalities makes it more important for the merchants to depend on this business account. All merchants, whether they have a merchant account or are looking for one, have doubts about it. Some light on the varied aspects of this commercial account can help many out there to find the right deal and grow the business properly.

What Risk Factors Make a Business Depend On a High-Risk Merchant Account?

Several factors have their role in making a business high-risk. In different companies, you can find varied risk factors. Following are those factors that make a business take a high-risk merchant account.

Long delivery time is a considerable factor in a business that can make it high risk. If the duration between the order of a product and its delivery is too long, it makes a business risky. During this duration, anything may go wrong. The product may get destroyed or deformed, and the buyer may change their mind and can cancel the order in the middle of its delivery.

A disgraceful history of chargebacks is also a potential factor to tag a commercial entity as risky. Usually, e-commerce and adult entertainment merchants are pretty prone to chargebacks. Customers demand money back due to dissatisfaction with the product in terms of quality, color, quantity, etc. A higher number of chargebacks may make a merchant account provider close the account of a business. Also, such merchants may find it challenging to get a high-risk merchant account with instant approval.

Industry reputation is also a significant factor that puts a business under several potential threats. Can you ever find a person discussing adult products with their kids or family members in an amusement park? It is absolutely impossible because the adult entertainment industry and its services are not the subjects people discuss socially. Such businesses are always under the notice of legal institutions, and one small mistake may close them down, which is a considerable risk for the acquiring banks.

Frequent refunds spoil the goodwill of a business and show that a merchant is not doing good in business. It makes an acquirer and international high-risk payment gateway think that maybe the company is following a wrong practice, which is why it has to refund the customers’ money in a recurring manner.

High-volume transactions leave commercial entities under threats created due to hackers. Some businesses process millions and billions daily, and hackers want to steal their identities to make fake transactions. As we all know, the daily high-volume transaction is a significant identity of high-risk merchants.

Automated billing, usually considered a good thing for a business to receive timely payments, can sometimes prove a threat. The customer may forget that he has signed up for a product or service and may ask for a chargeback. It happens with many businesses, and the winner is always the customer because when he raises a chargeback demand, the credit card company always favors the cardholder.

Major Credit Card Frauds And Their Prevention Tactics Available For Merchant Account Holders

We all know that high-risk merchant accounts are always prone to credit card fraud issues, and merchants are afraid of fraudsters. However, thankfully, today, we have intelligent tactics that can handle the threats and ensure safer business operations for a business. Let us first discuss the common credit card threats.

Credit Card Frauds –

Merchant account holders sometimes face several credit card fraud issues that may affect their business goodwill and stability.

Phishing is a common way to commit credit card threats using malware or computer viruses. It has been in existence since the 1980s, and today it is used to steal bank account numbers and passwords.

Fraudulent websites are also a cause of worry for high-risk merchant account holders. A fraud website looks similar to the original website; however, it usually does not have the company’s postal address. Even if the address is mentioned, the users should first confirm it.

Vacation fraud can sound rare, but it is widespread. When people visit a hotel during vacations, messages asking for their credit card details from the hotel’s front desk can be fake. Customers who gamble at casinos may receive notifications about the new online casino game offers. The merchant account and

Fraud through pre-populated details is another complication the merchants may face as high-risk merchant account holders. Many users save their information on the website to pay quickly next time while making a purchase conveniently. They use the feature of autofill, which is quite helpful but only if a business has robust security measures.

Tactics to Prevent Credit Card Fraud –

Anti-credit card fraud tactics always help merchants run their businesses smoothly without fear of fraudsters and survive with confidence in the market. This confidence comes with the safety shield of high-risk merchant accounts.

3D secure transactions create a safety shield around the daily transactions. According to the regulations of PCI-DSS, high-risk merchants have to be compliant with the PCI-DSS level.

Verification of orders with incomplete details is another way to ensure whether an order is authentic or not. Vague name, absence of a name, and phone number are some of the factors that indicate that a credit card transaction is doubtful.

Keep track of the patterns used in fraudulent orders, as it helps spot any suspicious orders in the future. Sometimes a particular person or group submits orders repeatedly. The timely reports generated by your payment gateway about transactions can quickly reveal such transactions.

If customers pay through the mobile application, scan and scrutinize biometric data or selfie pictures. These details are always available when the user sets up an account. Such information is essential and can be used to track fraud people.

The above tactics apply to all account holders. Whether you have a high-risk merchant account in the UK, the United States, or anywhere in Europe. Another important tactic is that a merchant should keep an eye on the latest scams to know how the trick minds out there are working. Accordingly, new ways of prevention can be invested.

List of High-Risk Industries

Some industries are prone to risks and always stay in the category of high-risk industries. Let us have a look at them –

IPTV
Forex Trading
E-commerce
Pharmacy
Adult dating
iGaming
Online gambling
Financial services
Telemarketing etc.

It is essential to mention that varied countries may have various lists of high-risk industries. If you are a merchant and need a high-risk merchant account, your acquirer or payment gateway will always help you make the right choice.

Conclusion

High-risk merchant accounts are the saviors as well as supporters of high-risk businesses. They handle multiple threats for the merchants and give them a predictable atmosphere to flourish. The most important thing for a business is to receive timely and convenient payments from customers. Without a merchant account, it is not possible. In fact, without it, the network of payment gateway, merchant, Credit Card Processors, and merchant accounts can never be complete. It is not an exaggeration to say that the high-risk merchant account is the last and the most essential destination for payment processing.

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How Do Payment Gateways In Australia Enable Digital Payments?

Digital payments are the most innovative way to make payments, and all merchants, especially online business owners, depend entirely on them. After the pandemic chaos happened in the past three years. As a result, the payment gateways facilitate digital payments to offer ease to the merchants and facilities to their customers. Only the one that can provide good service is considered the best payment gateway in Australia. Online payments are specifically helpful for high-risk businesses such as online casinos, IPTV merchants, Forex businesses, iGaming, etc. Australia, an ever-growing economy, has so much to offer to its business owners, who help strengthen the economy. Let’s have a look at how a payment gateway enables digital payments.

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Multiple payment options – Just like we have varied payment options, the merchants need to install all of them to give more choices to the customers. The buyers cannot stay loyal to a brand that does not provide them the payment alternatives for their comfort. Mobile payments, internet banking, bank prepaid cards, cryptocurrency payments, etc., are the popular ways of digital payments. The payment gateways have proper infrastructure for all these payment methods to help merchants survive safely and increase sales.

Fastest settlements – A merchant needs quick settlements to withdraw the money and use it for the well-being of the business. The payment gateway providers in Australia are known for providing faster and smooth settlements. It helps the merchants take out the money and use it to enhance their business resources. High-risk-based industry companies are specifically fond of timely payments because most of their expenses are hefty, and they always need money. The speedy availability of money also helps to maintain proper cash flow.

Quick integration – The efficient APIs and online onboarding easily facilitate digital payments on the website or mobile app. of the merchant. A business should try finding a payment gateway with minimum documentation requirements. For example – The eskaypay payment gateway in Australia is well-known for providing quick integration. Make your company able to process payments faster and increase sales to earn more profit.

Accept payments in multiple currencies – multinational companies have to reach customers globally. But, as the buyers do not live in the same country, they do not transact in the same currency. Thanks to the new aged payment solution providers that simplify offshore selling for merchants. Whether an eCommerce payment gateway in Australia or an adult toy payment processing, today, businesses can receive payments from any part of the world. There is no restriction on geographical boundaries, language differences, cultural differences, or anything else.

Why Are Merchants So Fond of Digital Payments? A Look At The Benefits

There should be something extraordinary about digital payments that the merchants desperately want to use. Let’s have a look at some of their known benefits.

People can pay securely – Security is the prime concern of the merchants and their customers. No one wants to compromise on the safety of crucial financial data. Digital payments qualify on this parameter because the money travels through a transparent network. The customer gets notifications of the completion of payment. On the other hand, the merchants get to know about the transaction through the progress bar. Besides, the compliance of the payment gateways with the PCI-DSS rules ensures an uncompromised safety for the customer’s money. Also, it is possible to trace the transactions; in fact, other things like spending, income, and taxes can also be seen in timely reports.

Simplicity and convenience – Buyers love handy things, and digital payments, as we all know, are pretty convenient. While traveling, eating, walking, and relaxing, a customer can make payments easily. Digital payments have many benefits for the merchant as well as the customers. The merchants can process the transactions 24×7 because the system works round-the-clock, whether work time or sleep time. On the other hand, customers can shop for things anytime they want with multiple payment options and fewer clicks.

Consistent business growth – Nowadays, more people are embracing digital payments instead of cash payments. Businesses exploit this opportunity by reaching a broader reach to new customers yearly. As a result, a commercial entity can make consistent business growth and can maintain a regular cash flow. Every business, whether high-risk or low-risk, prefers digital payments because they are among the most innovative tools that help in business expansion. Don’t we know how desperately business owners seek payment gateway in Australia to expand to new horizons? The good thing is that they are never disappointed because the payment industry is doing well in this aspect.

Conclusion

The above information explains how significant it is for merchants to enable digital payments on their platforms. Payment gateways make it happen conveniently and at an affordable cost for the merchants. Businesses today have numberless options of payment solution companies; they can easily bargain on the overall price of the service. Deep market research will be the best tool if you are also looking for a digital payment gateway.

Read Blog: Payment Gateways In Estonia Fulfill For High-Risk Merchants

How Does An Online Gaming Merchant Account Help Prevent Various Credit Card Frauds?

Online gaming is tagged as high-risk for some precise reasons. Daily transactions in millions and billions of dollars easily attract fraudsters. They try to get credit card details to commit financial fraud, which takes a high cost on the gaming players and the merchant. A gaming platform that cannot provide security to its customers closes soon after getting notorious. But the good thing is that online gaming merchant accounts save merchants from credit card fraud and give them a friendly atmosphere to grow. Below you will read about the ways through which fraudsters try to get credit card details and how a merchant account holder can prevent it.

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What is Credit Card Fraud?

A financial crime is when a fraudster uses a payment card (credit or debit card) to purchase a product or service. The credit card belongs to another person, and the fraudster steals the credit card details and uses them to make transactions for his criminal purposes.

How Do Fraudsters Perform Credit Card Fraud?

Hackers mainly commit financial crimes through credit card details, and they use several ways to get the details from an online gaming merchant account. Illegal practices become the prime tools to commit credit card fraud. Business owners must keep an eye on the popular ways of credit card fraud. It will help them work on innovative ways of protection.

Phishing

Phishing is an old but still widespread way to steal payment card details. It is among the oldest types of fraud in existence since the 1990s. Scammers use computer viruses or malware to get credit card details. Phishing emails usually come from a renowned bank that no one can doubt, and they typically ask for personal and banking details. They may also have links where they ask the targeted victim to enter his data, which is later used by the criminal to make a transaction.

Data breach

A data breach involves stealing confidential or protected data from an unauthorized person. The data is copied or transmitted to another illegal place, such as a website, to sell the data. Other terms for this type of fraud are data leak, unintentional information disclosure, information leakage, and data spill. A 6-year-old cyber-attack in the UK called TalkTalk cyberattack is proof. The data breach incident sold customer details for £1 each in this scam. A high-risk merchant account is among the favorite targets of fraudsters for a data breach. Gaming players invest a massive amount of money; thus, gaming platforms are a promising option to steal a lot of money through credit cards.

Honeypot

A honeypot scam is stealing credit card details when someone uses an unsecured Wi-Fi hotspot. It usually happens when people use the network of any public place such as a restaurant or a motel while traveling or any public place. Through unsecured Wi-Fi, the hackers make access to the camera, microphone, and other mobile apps. Of a person. The criminals hope to get credit card details if the mobile user makes a transaction.

The above ways are common across the world, and no need to mention that hackers use similar methods to steal details from a gaming payment gateway. Now, it is time to know how the merchant account helps prevent stealing credit card details.

How Does a Gaming Merchant Account Prevent Credit Card Fraud?

Merchants need strong support to keep their customers away from credit card fraud issues. They have many expectations from their gaming merchant accounts. The acquiring banks that provide merchant accounts to gaming merchants have all the arrangements to ensure the businesses’ and customers’ safety.

PCI-DSS compliance, Payment Card Industry Data Security Standard of gaming merchant accounts keeps credit card details safe. It is a regulatory condition that every acquirer has to fulfill. All high-risk account-providing banks must first ensure they implement the safety measures required to process credit card transactions. The 3D verification technology also works great.

Automated suspicious customer account detection technology installed in a merchant account sends an alert to the merchant on doubtful e-mail addresses. For example – hjfskbfks@gmail.com looks like an unauthentic e-mail identity. The automated system stops the transaction before completion that is done through a customer account with such an e-mail address.

Timely reports on patterns frequently used in fraudulent orders help merchants spot fake orders and accounts. Sometimes some groups give repeated orders with the same theme. The timely analytical reports about doubtful transactions keep the merchants on alert. This tactic helps a business create a stronger fraud protection strategy.

Encryption and tokenization technologies ensure a safe transfer of credit card details in the form of codes that cannot be decoded. Only authorized key holders store the information. In both technologies, the responsibilities are segregated among different people. The one who makes security keys cannot access the data, which works in a vice-versa manner. The credit card details are only in the access of the concerned acquiring bank and the payment gateway. It means that even in an organization, the customers’ information is not accessible.

Conclusion

The significance of gaming merchant accounts is timeless as a strong shield for the merchants against the tiniest and the most hazardous financial fraud. It fills the merchants with confidence that they can operate in a risky market and earn a lot of profit. The gaming industry has grown significantly with the technology that keeps it safe from tricky people. Whether it is about a friendly fraud or a data breach incident, a merchant account is always ready to help a business run smoothly. It is only due to the intelligent FinTech solutions that, despite uncertainty in the international market nowadays, high-risk gaming businesses are growing. Are you looking for safety against credit card fraud in your gaming business? It is time to shortlist the smarter options. Eskaypay online gaming merchant account solutions are well-known for proficient high-risk account services.

Why Is a High-Risk Merchant Account Vital For a Forex Trading Business?

All across the world, forex trading is considered a high-risk business, leaving them with certain restrictions. The biggest limitation is that a forex business cannot accept payments in a conventional business bank account. It needs a commercial account that is made explicitly for high-risk businesses. This account is a high-risk merchant account and is necessary for many other reasons. Let’s explore the factors that authenticate the significance of a merchant account for forex trading companies.

What is a Forex Trading High-Risk Merchant Account?

A forex trading high-risk account is a business account that allows a merchant to receive payments through online transactions. This business account is provided by a bank known as an acquiring bank. The acquiring bank can be situated in some other country. Usually, the traditional banking system does not open any bank accounts for high-risk merchants. In such a situation, the business owners must depend on external help. They contact the merchant account providers that are banks and allow merchants to receive payments from the customer.

Why is a Forex Trading Merchant Account Essential?

Now, it is time to count the factors that explain well why a forex trading business cannot survive without a high-risk merchant account. If you are already a forex trading merchant, you should be aware of the importance of such a business account.

A High-Risk Account Provides Smart Routing

Today, most merchant account providers use smart routing to provide the best services to high-risk merchants. Smart routing is a technology that helps merchants who use multiple payment gateways and processors. Due to the enormous sales volume, many businesses employ more than one payment gateway and payment processor, which complicates the payment system. Smart routing facilitates smoother transactions. It also ensures customer satisfaction because they can use any medium or gateway to make payments. Innovative routing routes every payment or transaction to the most suitable gateway based on payment type, currency, location, card issuer, or amount.

The technology is beneficial for businesses with large sales volumes because, during peak hours, some payment gateways may face technical failure. In such a situation, routing helps make it safe for the money to travel through the most convenient gateway. The benefits of routing are high success rates, customer satisfaction, and low transaction cost. It should not be an exaggeration that the high-risk merchant providers may not serve merchants successfully if they do not use smart routing.

Real-Time Dynamic Reporting

A merchant needs to know everything about its business, and in a high-risk industry, daily bulk transactions are always a concern of worry. Merchants are always worried about whether everything in the payment system is going fine or not. A merchant account provides insightful reporting of every transaction that happens daily. Based on the reports generated at regular intervals, a merchant can make critical decisions for its business at the right time.

A merchant account is not just to receive payment but is also a mirror of the business growth. It is why merchant services are so important, and the merchants rush to get a high-risk merchant account on instant approval. The real-time reporting alerts the merchant whenever a transaction happens. It informs about the payment gateway, payment method, currency, and everything. Also, it notifies the business owner in case of any technical glitch and starts resolving the issue automatically after informing the merchant. This feature informs about the problems arising in a particular payment mode, and the merchant can immediately fix them. Dynamic reporting also informs about suspicious transactions before they are complete, letting the merchant decide at his discretion.

Make a Global Reach With More Certainty And Less Threat

Yes, we all know that high-risk businesses have less certainty and more threats of issues like chargeback, financial fraud, etc. But with an efficient merchant service provider, all such problems can be managed quite easily. You can make an easy worldwide reach. The good thing is that having a merchant account in one location can help accept payments from varied international locations. For example, if you have a forex high-risk merchant account in the UK, you can accept payments from various countries. It is possible if the merchant account efficiently coordinates multiple payment gateways and payment methods.

Whether it is the facility of safe, smart routing or providing a detailed report, a merchant account removes all obstacles that can hurt business growth. Without insecurity, a forex business owner can quickly expand his commercial activities in new countries. With automatic fraud detection tools, it becomes possible to recognize fraudulent customer accounts. The smoother payment experience also helps in reducing the incidents of chargebacks. An efficiently managed high-risk merchant account also helps a merchant qualify for a new forex trading account in other countries.

Robust Tokenization And P2P Encryption For Safer Transactions

Both tokenization and P2P encryption help secure forex transactions and ensure a business’s safer survival. Along with the high-risk payment gateway, a forex merchant account provider provides safe travel of the customer’s financial details. Both P2P and tokenization make a strong shield around daily payments.

Tokenization is a security tool that removes the original data (without altering it) from an organization’s system and transforms it into randomly created codes that cannot be recognized as data. It is not possible to turn data into its original form after tokenization.

P2P encryption is a technology that protects payment data such as card details through encryption and keeps it encrypted until the payment completes.

Tokenization Vs Encryption
Tokenization	Encryption
It replaces the original data with a randomly generated token value.	It turns plain text or information into ciphertext using a key and algorithm.
It supports structured data such as social security numbers, payment cards, etc.	It supports structured as well as unstructured data. Structured ones can be payment cards, and unstructured ones can be emails and entire files.
Tokenized data is difficult to exchange as one needs access to a token vault.	Data exchange is easier with a third party if someone has an encryption key.

Conclusion

Forex trading is a risky as well as a profitable affair, but in both cases, efficient business management is necessary. Money plays a crucial role in such businesses, so the payment system must work correctly. The above factors you have read explain clearly how and why a forex trading high-risk merchant account is vital for a merchant. At a time of uncertainty in the international economy, currency and commodities exist in a risky market. In such a situation, forex trading is already quite tricky. The customers of a forex merchant are already insecure; if they face a double threat due to uncertain payment experience, will they ever come to that merchant? Certainly, NO. High-risk forex trading merchant accounts provide an all-in-one solution. From processing daily transactions to giving a platform for business expansion in the global market, a merchant needs a merchant account for everything.

How Can High-Risk Merchant Account Holders Manage Chargebacks Successfully?

Chargebacks are always a big issue for high-risk merchants, and day and night, they are focused on efforts to help remove this problem. However, it is impossible to waste all-time managing chargebacks, which is why some simple yet effective ways are required to handle the issue. While doing a risky business, the merchants learn many things from their experience. Also, merchant account providers and payment gateways always suggest innovative ways to the merchants for troubleshooting. This blog will discuss the significant and effective ways a high-risk merchant account holder can efficiently manage chargebacks.

What is a Chargeback?

Before we move further to delve into the practical ways of handling chargebacks, let’s know the meaning of a chargeback.

A chargeback is a customer’s claim for payment reversal through a card-issuing bank after making a payment to the merchant.

Another way to demand money back from a merchant is a refund, in which a customer directly reaches the merchant for the money back.

How To Manage Chargebacks In a High-Risk Merchant Account After The Customer Has Made a Claim?

Now comes the actual action plan explaining how you can tackle chargebacks with a high-risk merchant account through varied points and aspects.

Find the actual reason for a chargeback because a merchant can also dispute a chargeback. You can win the claim if you provide ample proof to justify that the transaction was genuine. In that case, it will not be necessary to refund the money. If your high-risk credit card processing happens in a lawful manner, the chances of winning the dispute are higher.

File the dispute if you think it is friendly fraud. As we know, many customers intentionally raise the claim. They use the product or service, and then they mention flaws in it and claim chargeback. It is a popular way to take the undue benefits of the products free of cost. But if the merchant is confident, he can always file the dispute; next time, the customer will be afraid before raising an argument for a chargeback.

Update safety precautions because sometimes customers demand a chargeback when they are not so sure about the safety of their money. In that case, your payment system may have some flaws. It is better if you update your software and design. However, nowadays, the high-risk merchant account providers, as well as payment gateways, are PCI-DSS compliant. But it is better to check your payment network for safety regularly. Maybe a new virus is causing some issues on your website, and you are unaware of it. Get your websites or apps checked periodically.

Monitor your product delivery system strictly because if your products do not reach the customers in the proper condition, they will claim a chargeback. Maybe your product is missing, and something else went to some customers. It means they ordered for a different color or quantity, but the delivered product differs in these two aspects. Also, you need to closely track the delivery staff that may be misbehaving with the customers. You need to be aware of every part of your business network because anything can make the customer unhappy. An unsatisfied customer will surely demand a chargeback. Repair the flaws in your business, and there will be no money-back issues.

How to Prevent Chargebacks Before they Happen?

You manage a chargeback after it happens, but why should let this problem occur? Several ways can stop the chargebacks before they happen. Isn’t that a better idea? You worked so hard to get a high-risk merchant account instant approval; chargebacks happened when you got it. This is your business, and it is time to take control of your hands and manage your merchant account successfully. Have a look at some of the ways to prevent chargebacks –

A 3D-compliant website or app is safe from hacking issues, and customers can pay safely. When customers feel safe, they stay for a long time with the same merchant. Is your website working under compliance rules?

Post detailed product and service descriptions and pictures because the buyers should know what they are buying. Misguided information can cause chargeback, but no significant issues should happen if you are transparent about what you sell.

Explicit mention of chargeback policies is necessary to ensure that no customer claims a chargeback that sounds like a friendly fraud. It is not a child’s play to manage high-risk merchant processing; caution is required at every stage.

Give a timely reply to customers’ calls and queries even if it is not a chargeback demand. Sometimes customers ask for a chargeback when they are unsure about the future possibilities of a product or service. For example – a forex trader who wants to know about some future things may feel unsatisfied if he does not get a timely reply. In that case, he may make up his mind to close his account with the forex merchant and raise a chargeback demand due to some of its bad experiences.

Most customers want only a good experience from a business and do not want to get into the complications of a chargeback. With attention to detail and transparency, you can keep the customers, and they will never ask for their money back.

Conclusion

The above ways before and after the chargebacks will surely help your business flourish without any insecurity of chargebacks. It has always been difficult for merchants to manage this issue. But, nowadays, with advanced tools, high-risk merchant payment processor companies successfully help businesses prevent chargebacks. You should not worry about anything because today, it is not rocket science to manage money-back claims by customers. The only need is to play fair because, in that case, a merchant can dispute a chargeback claim. However, it is true that ordinarily, card-issuing banks favor the customer because they do not want to lose a cardholder. But if the merchant has the appropriate proof, it is not impossible to win a chargeback dispute.

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How Does An IPTV Payment Gateway Help Maintain Cash Flow With The Same-Day Settlement?

IPTV business is a high-risk but profitable business if a merchant succeeds to maintain cash flow. However, for that, it needs to have some circumstances in its favor. Same-day settlement is one among them. Same-day settlement is a beneficial facility and most merchants look for payment gateway service providers that offer it without very high fees or charges. In many ways, it helps a business and the merchant to grow in the right direction at an unprecedented speed. Also, it is good for the long-term stability of a business because it never struggles with the scarcity of resources and money. Besides this, many reasons can favor the fact that why a merchant should choose a payment gateway with a same-day settlement facility.

What is a same-day settlement?

When the merchant receives the money from the acquiring bank on the day a buyer makes a payment, it means a same-day settlement. This method gives liberty to the merchants to either transfer and withdraw a day’s amount as a whole or get it done in pre-decided frequencies in a day.

Businesses planning to expand to new national and international locations find this method helpful. They need a frequent flow of money to invest in infrastructure, recruitment, etc. It is great for them if money keeps coming daily.

How does the Same-day Settlement IPTV Payment Gateway Work as a Tool to Maintain Cash Flow?

Now, let’s discuss the amazing benefits of having a same-day settlement gateway to understand how it offers smooth cash flow in many direct and indirect ways.

Late settlement of customers’ payments has always been a big issue for merchants. Payment gateways process the money slowly and the business owners have to wait for it no matter how urgently they need funds.

The same-day settlement payment gateway for IPTV permanently solves the issue of delayed settlement. The merchants receive the money not only timely but same day. Just imagine, how convenient it can be for a business to plan for its future without any financial insecurity. The working capital flow remains smooth and the commercial operations remain hassle-free.

Through timely settlement, businesses can pay their business partners on time. It means, no complicated relationships with the people from the same industry who help to run the business. Merchants cannot afford to have a poor relationship with other businesses that help their business run smoothly in any possible way. The scarcity of money can present many issues in many ways. All merchants work for money only and they all know each other and respect the timely payments to keep the business relations in good condition.

The received money through payments works as an instant loan for the merchants to complete the immediate needs of the funds. The short-term, as well as the long-term business operations, do not get affected due to financial crises. It is not an exaggeration that such businesses can avoid taking a business loan for a long time. Until and unless they do not need a huge amount for a purpose like buying a new commercial property, it should work with the same thing.

An online payment gateway offers certainty to a business and gives the merchant the confidence to pre-plan upcoming events. Imagine an IPTV merchant that wants to introduce his services to make the content and user experience better. He plans an event in three cities and as you know such events always demand many immediate and unpredictable expenses. But every day the merchant is receiving a lot of money through the same-day settlement. It means a certain help is available all the time everywhere. Just one online transfer to another business account and expenses can be managed instantly. It is like before the completion of an event, a merchant can celebrate its success because there is no chaos of funding and all resources remain within reach.

For high-risk merchants, same-day settlement becomes even more important. They can focus better on other important aspects of business operations. When a merchant knows, there will be no financial issue, he can make multiple foreign visits for business expansion. In his absence, his business will not be hampered and the employees will not face any hassle due to insufficient funds. The same-day settlement keeps the businesses backed up with the necessary amount of money for daily operations.

Conclusion

As you can read above, all the miracles happen due to good cash flow and the unhampered cash flow happens due to same-day settlement IPTV payment gateway. Merchants always look for payment solution providers that can make it happen for them at an affordable cost. However, the financial and credit history of a business decides the overall cost that this service may take. Smartly managed businesses always qualify easily for same-day payment settlements. Already, IPTV is a profitable business that has the caliber to dominate cinema halls. With efficient and professional management of a commercial entity, it is possible to enjoy immediate payment settlement services.

Best Payment Gateway For International Business With These Five Secrets

International businesses must be cautious about their commercial activities’ nooks and crannies. The payment gateway is one of the essential elements for a globally run business. After all, a commercial entity needs money to operate by selling products to customers. A payment gateway is a powerful platform to receive money in exchange for the value it offers users in the form of a product or a service. It means it is essential for an international business to choose only the best payment gateway.

However, besides the general points to consider while doing so, there are some hidden facts that merchants usually overlook due to ignorance. If you are a merchant, this blog aims to bring you unrevealed ways to choose the best payment gateway for international business.

Study For Mobile Payment Apps. As a Popular Way To Pay

Mobile payments are more friendly for customers nowadays. They can buy anything in this world while traveling, gymming, gossiping, etc. Today the mobile payment industry has changed a lot due to the presence of brand-based mobile payment apps. For example – Starbuck’s mobile payment app has above 23 million plus users. It is more than the many popular mobile payment apps. This number is more than the users of popular gateways Google Pay, Apple Pay, and Samsung Pay.

In this case, choosing the most vigorous counterpart for your business is crucial if you are also a coffeehouse brand. You need an international payment gateway that is popular, established, and expanding in the market. Maybe in the future, you will launch your payment gateway by that time, and an international payment gateway should get you paid through a wider reach. Mobile payments are handier and thus convenient; it is better if you search for a payment gateway enhancing its system every year in this area.

Does Payment Gateway Integration Suit Your Existing Technology?

Your payment strategy may fail if you ignore this aspect. Merchants should always know how to search for a payment gateway with an API system suitable to their existing technology. The API integration is successful only when the payment gateway can successfully communicate with the merchant’s website or mobile app. technology.

The question is, how does a payment gateway API integration happen with technology? The answer is that an application transfers a message to the API during a transaction. That message gets forwarded to the payment processing network. A response is then sent to the API through the network. Finally, the response is relayed to the application. Now you can understand how important it is to choose a payment gateway for international businesses with similar technology. Take the advice of an expert because making a wrong selection can complicate the payment experience for your customers. When customers are not happy, nothing can grow commercially in your business.

Confirm If the Payment Gateway Serves the PCI-DSS Level Your Business Has

As you know, the PCI-DSS is an integrated standard for safer credit card processing, but it has four different levels according to annual transaction value. Every payment gateway today is PCI-DSS compliant. But that is not sufficient because you also need to know whether it provides service to the PCI level certificate given to your business. For example – Businesses with PCI-DSS level 4 are those commercial entities with 6 million or above transactions annually. The rules and regulations for such businesses are pretty stringent. Thus, the payment gateway you choose should have experience serving businesses with similar PCI-level certificates.

You can understand now that no factor is small when you look for an international online payment gateway. The slightest mistake can make you regret it because once you enter into a contract with a payment solution provider, it can push you into a fix. No matter how small the agreement is, even if it is as long as only one month, your customers will not wait. They may switch to another merchant for the same product after a bad payment experience with your company.

Compare Fee Structure

Of course, money is the real player in the world of commerce. Before you choose an international payment gateway, do not forget to compare the fee structure. High-risk businesses have higher fees than low- or medium-risk companies. Try to get a deal with the most nominal fees. It may sound like a big task, but it is not because you know better about your business. Explain all the points that justify why your business should get the payment gateway service at a lower price.

Usually, businesses that can manage their chargebacks efficiently need to pay lower charges. The payment gateway that manages high-risk transactions has to make fewer efforts to prevent such issues. Also, it is essential to have a good and stable financial situation with an impressive bank statement and a brighter future. However, some payment gateways serve bad credit businesses without discrimination. For example – the Eskaypay payment gateway for international business is known for providing its troubleshooting payment solutions. It not only processes payments safely but also suggests ways to reduce chargebacks. Its chargeback management and fraud detection strategy are irreplaceable in efficiency.

Conclusion

Finding the right payment gateway for your international business is neither a child’s play nor rocket science. It is a matter of careful selection that comes with experience and expertise in your business and related industry. If you pay attention to some essential but important factors mentioned above, you can find many payment gateways that can effectively process your customer’s payments. Essential is to do proper research, even if it takes time because the hard work has long-term worth. Especially for high-risk businesses, it is even more crucial to look for the most suitable option. However, today, it is not a difficult task because the payment industry is full of promising possibilities. Try to find them with an experience in the relatable industry. If you are a Forex trading business owner, look for a payment gateway with existing clients in the same sector.

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High-Risk Payment Gateway Analytics Help Merchants Make Data-Driven Decisions

How Does High-Risk Payment Gateway Analytics Help Merchants Make Data-Driven Decisions?

We all talk a lot about the payment processing role of a high-risk payment gateway. But a payment gateway does many things more than just processing the transactions. A gateway transfers money worth millions and billions, but at the same time, it also sends crucial customer data to the network. A proper analytical report is always available of the latest and the oldest transactions in a business. Merchants need this data recurringly to know about the status of business growth and make future decisions. It is not an exaggeration to mention that a payment gateway provides the essential information to construct a stable and progressive business. Here in this blog, we will discuss how the analytics provided by a payment gateway to its merchant helps a company make data-driven decisions.

Payment Gateway Analytics Help Analyze Reasons For Payment Failures

Every merchant is afraid of payment failures because several incidents of payment failures can thoroughly affect the goodwill of a business. But a payment gateway for high-risk merchants provides timely and regular analytics of transactions. The analysis report comes monthly and reveals how many transactions happened and how many of them failed and why did they fail.

With the help of payment analytics, a merchant can immediately work on the reasons for payment failures, saving the business from a nightmare. The issue can be managed without delay, and the problems fixed with the help of previous reports can be checked for accuracy.

Take an example – a payment gateway analytics report says that 3% of payments failed due to authentication failure. Now, in this condition, the concerned merchant can change the ‘OPT OPTIONS .’He may choose the ‘OTP auto read’ option to provide to the customers, or he may choose the ‘direct page’ or ‘OTP less’ card payment option.

Repair Technical Problems Affecting Transaction Success Rate With The Help of Payment Flow Analytics

A payment is useless if it is unsuccessful. Payment flow analytics issued by your high-risk gateway every month explain the payment flow and the related technical issues. An insight into this information gives you time to work on the right solution. As a merchant, you can understand which technical glitch affects the payment flow. It becomes simpler to not only troubleshoot but also check if the troubleshooting is working correctly or not.

Check immediately to find the technical problems that adversely affect the success rate. Scrutinize the occurrence frequency of failure in success rate on varied platforms like iOS, Android, and the channels like the website of mobile apps. Find out the devices used by the users that gave the most successful transactions. Comparison of transaction success rates to the industry benchmarks becomes easy.

Here is an example – A merchant finds through the payment flow analytics that the mobile payments remain incomplete due to some technical issue in the payment flow. The ready-made reports support the merchant in detecting the exact problem and immediately acting on it for a suitable solution.

Optimize Marketing Campaigns To Increase Sales

Analytics are rational and not fake; you get the correct information about your business conditions. You may be spending a lot of money on your marketing campaigns, but they can be successful only when you know whether they are actually influencing the right audience or not. Also, it is crucial to understand whether the marketing efforts reach a suitable customer base or not. All this can be detected with the help of accurate analysis reports provided by a payment gateway.

The payment analysis makes it easier to know how many customers purchased the product or services mentioned in the marketing campaign. Accordingly, the campaigns can be redefined to leave the desired impact on the target customer. It helps company owners make better cross-selling strategies, and consequently, you can provide suitable payment options.

For example – An IPTV merchant may find out that your marketing campaign targets website visitors in the evening. But actually, the monthly transaction report shows that most of the buyers purchase subscriptions late at night. According to this information, he can immediately change the timings of the marketing campaign from evening to late-night slots.

Get Overall Business Insights And Construct a Better Business Strategy For The Future

Of course, any sort of analysis report is destined to make a business better. The payment gateway analytics help merchants improve their current approach in all aspects. It is because the report is not only about the transaction success rate but many other things that talk about business performance. The owners can conveniently reach their conclusions and plan a progressive tomorrow for their commercial entities.

Know about customer segmentation, payment method priorities, retention rate, change in sales number, the total number of visitors in a specific duration, etc. Every business owner will accept how the small pieces of information gathered in the analytical reports help introduce necessary improvements. The valuable data crafts an inevitable future for the business and suggests ways to stand firm in the market against competitors.

For example – You want to research the impact of change in consumer behavior on business sales for a specific duration. To know precisely what is affecting your consumer behavior, you may need to find answers to questions such as – How many visitors visited your website or mobile application in that duration? Which marketing campaign had the most significant impact on customer choices? Which product or service do the buyers purchase in a particular month? Answers to these questions can be obtained easily with the analytics produced by the payment gateway.

Conclusion

Your high-risk payment gateway has much more potential than you think. It is just not a platform to transfer money between the network. A payment gateway working for a high-risk business brings all the growth opportunities to the company by providing insightful analytical reports. The information you get from your peers or any known in the industry may be wrong due to personal biases. But a report based on rational factors can never misguide you. Any merchant can trust the analytics because they reflect exactly what happened to your business in a particular duration. It is time to think differently about the role of payment gateway and accept their versatile role in all high-risk industries.

An Insight Into The Importance of Credit Card Processing Gateways

A credit card is the most popular mode of payment today, and it needs innovative processing to keep both the merchants and the customers happy. Credit Card Processing gateways play an important role here; in fact, it is essential because, without the gateway, a merchant cannot exist. Sound and safe transaction processing are the primary needs for any low to high-risk merchant.

Payments made through credit cards demand attention to the tiniest details, which is not possible for a person only; it needs a whole system. Here in the blog, we will talk about that system only, its nature, importance, and strengths. It will be enlightening for a merchant to know how credit card processing payment gateways became crucial in commerce.

What Is a Credit Card Processing Payment Gateway?

A credit card processing payment gateway is a mutual platform connecting merchants to the customer’s issuing banks and credit card processors. It facilitates online credit card processing as well as point-of-sale transactions. The gateway provider is the connection point that ensures the quality of a transaction, whether it is about its speed or safety. It is the pillar working behind the scene for a perfect picture of a smooth payment cycle.

What Are The Benefits of a Credit Card Payment Gateway?

As we know, credit cards are used globally, and something that helps businesses process credit card payments will surely be beneficial. Here are some immediate and long-term benefits of a credit card payment gateway for merchants and customers.

Flexibility, security, and simplicity are the immediate benefits that a merchant exploits through a credit card processing payment gateway. It is flexible because the support is available 24×7, and the customer may make a payment at any time of the day. Also, the customization offers liberty to a merchant to get a payment solution designed according to the business needs. The gateway gives security because it is always backed up by the 3D safety rules that are vital in the credit card industry. Simplicity is also an added benefit because the cost and the procedure are transparent.

Connect with multiple payment processors through your payment gateway, which is highly convenient for a merchant. It helps manage payments from varied directions, improving the user experience. Safety data and money transfer are the priorities of not only a merchant but also a customer, and a payment gateway makes it possible for a merchant. Global businesses, especially with the tag of high-risk, greatly appreciate such support from payment gateway. In the era of globalization, merchants need to connect with many processors because it helps maintain faster transaction speed.

Efficient chargeback management is a long-term benefit of a credit card gateway provider. The merchants are usually quite annoyed with their chargeback issues and always seek a solution. The payment gateways offer an innovative chargeback management strategy that helps businesses grow faster and earn a lot of money. The safety tools that the verification procedure during a payment makes customers responsible for their payments. It reduces the chargeback issues. Any business with no or fewer chargeback incidents can win the market. It is because the excess of such problems first of all harm the goodwill of a brand.

Affordable for all business sizes, the payment gateway services help every small and big merchant make their place in the market. With the solutions for big brands, plenty of payment gateways for Credit Card Payments For Small Businesses are also available. The good part is that irrespective of the overall cost of a payment gateway solution, security is not compromised. All commercial entities can easily afford the credit card processing payment gateway solution, from start-ups to established businesses.

Connect better to the future of commerce because today, the credit card processing payment gateways embrace every new technology in a few weeks. The latest artificial intelligence tools provide details statistics on daily and monthly transactions, which helps in making business decisions. Businesses are already working in tough competition, especially in the past few years. Again, the cases of the next corona wave are increasing, and the newcomer monkeypox virus is causing a big worry. In such a situation, payment gateways, especially online credit card processing, are working efficiently on their systems.

Simple integration is the biggest strength of the best online payment processor for credit cards, and most payment gateways take no set-up fee. Due to heavy competition, payment gateway companies want to catch the attraction of as many merchants as possible. Strong encryption, tokenization, and many other features improve the user experience. A merchant wants nothing but the trust and satisfaction of his customers. Proper selection of a payment gateway can make a business successful; on the other hand, a wrong choice can misguide the direction of growth. Most merchants are curious about their experience at the time of integration, whether it is the cost or time that a gateway takes for integration. If that part is smooth, the rest of the things look more effortless.

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Conclusion

The international economy has become quite unpredictable. However, it is full of opportunities, but at the same time, it is uncertain due to many prevailing reasons. Viruses spreading in some parts of the world, war-like situations in some countries, economic bankruptcy in some other countries, etc., are some of the significant issues. Keeping the payment network strong has become essential to survive in such a challenging atmosphere. As credit cards are the most promising and frequently used mode of payment, payment gateways certainly have an indispensable role. Undoubtedly, credit card payment gateways simplify daily transaction management for merchants, which is a big help. Their role is significant, and the improvement that the customers are experiencing in payments is also visible. We all need to embrace the latest ways that may come in the coming years; the rest of the things are already working promisingly.