How High Risk Online Payment Processing Services Work

Posted by zodaka on September 17th, 2018

Do you operate a business in what’s considered a high-risk industry? These industries range from gambling and tobacco to ecommerce and even hotel and hospitality. Businesses in these industries often have trouble processing payments due to federal regulations. This means that traditional card companies such as Visa and Mastercard won’t authorize payments and it makes it difficult to reach customers. With high risk online payment processing services, getting payment and retaining customers is easy. Learn more here.

How Does High Risk Payment Processing Work?

Companies that use this service connect to a service that bring the consumer and company together on a different platform. These platforms work for domestic and international transactions. They are a global payment option for customers on every continent.

Customers download an app onto their phone. From this app, they connect their banking information. Once the bank information is verified, your customer is able to make their purchases risk free – for the customer and for you.

For most high risk payment processing, the customer will be given credentials to log into the payment processing platform. In order to ensure added protection, customers typically have to log in through the platform with these credentials before continuing the purchase. The exact process required of your customer depends on the high risk online payment processor you choose.

Is High Risk Payment Processing Legal?

As a business, you want to make sure that you’re conducting financial matters in a legal way. Using high risk processing methods is 100% legal. Although it bypasses the restrictions that credit card companies place on high-risk transactions, it’s still operating within a wholly legal framework. This financial technology platform ensures direct transactions between banks and credit cards.

Can these Payment Processors Handle High Volume Sales?

Yes. Companies of all sizes use payment processing services. Whether you own a small financial business or a large, international eCommerce site that does thousands of dollars in sales in an hour, a day, or even a week, payment processors have the capability to handle these transactions. They handle every transaction that comes through the platform in a manner that’s confidential, secure, and encrypted. Companies don’t need to worry about customers’ information getting stolen and they don’t have to worry about not getting their money.

When you’re ready to add high risk online payment processing services to your business, contact a trusted processor with a reputation for excellence that always puts security first.