What is a High-Risk Merchant Account?
A high-risk merchant accountis a type of merchant account specifically designed for businesses considered to be high-risk by payment processors and financial institutions. It allows a merchant to accept, hold and withdraw customer funds. Due to the increased risk associated with these businesses, payment processors and financial institutions charge higher fees and impose stricter rules and requirements for these merchants to obtain and maintain a merchant account. But WebPays, in its online merchant account, offers the lowest MDR rates and straightforward rules to ensure payment safety to high-risk businesses.
What Makes a Business High-Risk?
Banks and other payment processor companies may regard online businesses as high-risk for multiple reasons. WebPays, on the other hand, believes that adequate merchants should be allowed to execute online transactions on their payment platforms. Your online business may also be considered high-risk due to the following factors:
Higher Chances of Fraud Excessive Chargeback
Subscription-based Transactions Offering Trial-Based Services
Poor Credit History Dealing Globally
Selling High-ticket Products More than Average Transaction History
Nature of Business or Industry Type Legal and Regulatory Issues
Industries that Come in the Category of High-Risk?
Sometimes an authentic merchant with an excellent credit score and low chargeback volume finds it hard to get a merchant account because of industry type. Some businesses are deemed high-risk due to rigorous regulations or are usually considered scandalous to the bank. Casino, gambling, IPTV, forex, adult services, tobacco, e-cigarettes, etc., are the industries in which you need to acquire a high-risk payment processor.
Advantages of Using High-Risk Merchant Account of WebPays
By opting for a high-risk merchant account UK through WebPays, you can get multiple benefits for your online business comprising:Extensive Network with numerous Acquiring Banks: We have associations with multiple acquiring banks and high-risk payment processors to deliver the best payment processing services for high-risk businesses.Assures Top-Level Security: With WebPays, you will get assurance for top-level security of online transactions via multiple security features, such as encryption, SSL, tokenization, 3D secure authentication, PCI-DSS compliance, advanced chargeback prevention tools, and so on.Expanded Approval Ratio: Our main objective is to support high-risk businesses to achieve business goals in the marketplace. When others reject, we deliver payment services with a 98% approval ratio for high-risk payment gateway services. Yet, we always support you even if you do not have a perfect credit score or need some modifications.Global High-Risk Merchant Account Solutions: Regardless of the merchant's place of operation, online transactions can be processed quickly and easily with the aid of our high-risk payment gateway solution. We have a presence in over 100 countries and can assist you in expanding globally through our global payment gateway.Our Payment Services are not Expensive: Other multiple payment processors charge too much for high-risk payment processing services basically because they are scared of the risk factors or inexperienced in supporting high-risk businesses. However, at WebPays, we have been providing merchants with the lowest prices for many years, and we are committed to helping companies achieve their revenue targets.24*7 Customer Support: At WebPays, our technical/customer support team will be available for 24*7 to resolve any issue.Alternative Payment Methods: We allow your customer to pay in 35+ alternative payment methods with local payment methods. This helps you increase customer retention and expand your client base.