A high-risk merchant account is one of the payment processing accounts for the business which is considered as a high risk for banks and financial institutions. Many of the businesses these days are known as high-risk and have potential chargebacks related to it. Examples of high-risk business are the travel industry, gambling, forex trading along with the adult-themed websites.
The high-risk merchant account can be also known as any business which represents an elevated fraud risk with the credit card processor. The risk is found with the nature of the business and it determines the merchant as high-risk which may also refuse the approval of the account. The business which prefers online mode these days look for the high-volume marketplace and with lowering of processing rates much depends on the level of financial risks seeking the help of high-risk gateway.
After understanding high-risk gateway one could also like to know how does a payment gateway work associated with high-risk:
The client places an order from the online shop and passes the payment info
The encoded information gets delivered to the merchant’s processor
The transaction gets routed by the processor into the card association
The transaction gets approved or decline
The trade gets the authorization
Money becomes available within 24-48 hours
To get the best of the high-risk payment gateway the business can rely on Eskaypay as it is also an e-commerce application service provider. The customers can get a payment gateway authorized by the bank which is also Eskaypay and then ends up getting a high-risk merchant an account that is the same as the payment processing provider. The trustworthy and expert payment processor with gateways working as an industry leader for the merchant accounts.
The best of the high-risk gateway along with integration and features by Eskaypay can be found here:
Payment usually gets processed within a couple of days and the various providers can be found with different payment timings
For the international payments, it offers international and multi-currency payments have an interface with multiple languages
The protection is provided with PCI DSS and it offers built-in security capabilities like tokenization
For the recurring payments, the gateways must store with the client card numbers and allows automatic billing on a recurring basis
A high-risk merchant account is found to work with the higher risk factor without hurting the reputation of the industry or the processing history. The overall characteristics of the high-risk gateway is based on certain payment processor guidelines:
The business output should be more than $20,000 monthly sales volume
The average credit card transaction is higher than $500
A business sells products and services with countries are known for the high level of fraud
Bad credit history and excessive chargebacks
The high-risk merchant account fee is more than the low-risk business and a merchant may have to face the inevitable costs. The payment processors offer competitive rates that are tailor-made for the business. Several of the high-risk payment providers still charge the set up fees either monthly or the annual fee or let say even a PCI fee. The payment processing industry is moving at a faster pace and Eskaypay is turning out to be one of the good contributors to the business.
The rolling reserve is another important characteristic with an additional layer of protection for the bank against any sort of chargebacks or any other unexpected activities. The rolling reserve is actually calculated by the acquiring banks and with the money when gets released it automatically gets settled with one of the weekly statements.
Here are some of the advantages related to high-risk gateway:
Multiple currency mode: The high-risk gateway by Eskaypay is known for the multiple currency mode and it accepts transaction along with selling to the clients outside the countries which are considered to be of low-risk which gives access to larger markets
Protection against high chargebacks: The protection against chargebacks is provided by Eskaypay and merchant with the regular account gives a threshold on the chargebacks. The high-risk merchant account takes a little pause and after analyzing things takes the credit card payments.
Business expansion plans: The business expansion plans are much of a necessity these days and with the high-risk merchant account it helps to sell products or services which give more opportunities for the long-term growth
Increase in profits: The possibility of products can be seen with growth in business and chances of increase with the profits by initiating high-risk gateway by Eskaypay.
The responsive support provided by the high-risk gateway and leads to flexibility along with the customization by Eskaypay leads to an element of the payment which are tailormade for the business needs. The transparent pricing with the better technical inputs has given many of the business to work with full control over the setup and the payment process leading to better working of the business.
Read our another blog: 2D Payment Gateway UK
High Risk Merchant Accounts 