Though it seems simple enough to apply to a bank for a payment gateway, it is challenging. A business can have a good processing record and still get turned down due to the type of business they conduct. Banks consider many businesses high risk because they have irregular high-ticket sales, excessive chargebacks, or work in industries that are highly regulated or the rules and regulations are murky, at best. Businesses owned by people with poor or low credit scores and those that are based outside the United States also fall into the high-risk category. So, when a merchant with any of these problems tries to obtain a high-risk payment gateway, banks turn them down for services.
Merchants that want to safely and responsibly process credit card payments must turn to a high-risk payment gateway processor, like Merchant Stronghold. Merchant Stronghold offers high-risk online payment gateway services for retail, mail order/telephone order (MOTO), and internet merchants.
Merchant Stronghold prides itself on working with clients with all types of backgrounds. Whether a business is small and unknown or large and established, Merchant Stronghold finds the solutions it needs.
Get high-risk online payment gateway services from Merchant Stronghold for businesses that sell the following products and services:
- Adult entertainment and novelties
- Auto accessories and parts
- Tech support
- Luxury goods and services, such as private planes and travel
- MLM and direct sales
- Collectibles and antiques
- Designer Fashions
- E-cigarettes
Merchants Have Three Basic Needs For an Online Payment Gateway
The first is security and anti-fraud protection. Protecting your business and protecting your customers is a cornerstone of a successful business. Once incident can wreck your potential and reputation.
The second need is for the payment gateway to be user-friendly. Not only does it need to seamlessly integrate into your website and merchant account but it needs to be customer-friendly so that your customers do not become frustrated and give up on buying your products.
Lastly, you have to find the best rates. Business-friendly rates regarding transaction volume and transaction fees can make or break your margins. Finding the right balance of security and financial acuity is critical for any payment gateway.
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