Reliable High Risk Payment Gateway for Growing Businesses

Today's online businesses must have multiple payment processors, rather than just a single processor, especially in high-risk industries. A high risk payment gateway can be the deciding factor regarding how well a business will grow and how often it will experience interruptions. High-risk businesses would typically experience higher rates of declined transactions and could have their accounts shut down unexpectedly when using a traditional payment processor. Therefore, it is essential to choose a reliable payment gateway that has been tailored specifically to meet the needs of all high-risk businesses for success, scalability, and security over time.

What is a High Risk Payment Gateway?

High-risk payment gateways can be tailored to serve businesses with high-Chargeback Rates, Regulatory Scrutiny, and Transaction Volatility. High-risk industries include Online Gaming, Subscription Services, Travel, Forex Trading, Entertainment, E-Commerce, and International Customers.

Because high-risk payment gateways are tailored to serve a niche market, they provide many advantages over a standard payment gateway. High-risk payment gateways have much higher approval rates than other gateways due to their flexible underwriting processes and additional protections against fraudulent activity. Also, high-risk payment gateways are capable of managing complex transaction patterns with minimal disruption to your ability to generate revenue.

Why Growing Businesses Need Reliable High Risk Payment Solutions

High-risk merchants, like those who process payments on behalf of other businesses, often face many complications as they grow. The volume of transactions processed by a merchant increases exponentially as a result of increased international exposure, leading to higher risk when accepting payments from customers. This is because the merchant must process large volumes of transactions that can be declined or not settled, resulting in lost revenue for the merchant.

The following are examples of the risks associated with using a high risk payment gateway for growing businesses:

- Sudden termination of account

- High decline rates (i.e., low approval rates) for merchant account

- Delayed settlement process

- Limited capability to process payments internationally.

To help reduce the above risks, a dependable and efficient high risk payment gateway allows merchants to know that they will receive uninterrupted cash flow and customer confidence—all essential to sustaining growth.

A good high risk payment gateway should be able to offer the following features that exceed those of a basic high risk payment gateway:

1. High Approval Rate/Transaction Decline Rate

The use of multiple acquiring banks and intelligent routing helps to provide higher rates of approved transactions with reliable payment gateways, therefore reducing lost sales due to declined transactions/increased approval rates leading to greater revenue for the merchant.

2. Sophisticated Fraud Prevention

One of the major problems encountered by high-risk merchants is fraud. The top high risk payment gateways will have integrated fraud-prevention tools (e.g. artificial intelligence-based fraud detection, 3D Secure authentication, real-time monitoring of fraud attempts, immediate notification to merchants of chargebacks).

3. Chargeback Management Support

To avoid account termination, merchants must maintain an acceptable chargeback ratio. Therefore, a quality high-risk payment gateway includes chargeback monitoring, dispute resolution, and chargeback protection strategies to help businesses maintain their ratios.

4. Multi-Currency and Global Payments

Accepting payments from around the world is essential for all companies doing business internationally. A good high-risk payment gateway offers the ability to accept multiple currencies, as well as various payment methods on a cross-border basis without excessive transaction fees.

5. Scalable Infrastructure

A reliable payment gateway will grow with you. The ability to handle increased volume of transactions with speedy transactions, low to no downtime, and reliable operation during peak transaction periods is due to a solid infrastructure.

Advantages in Growing Your Business with a High Risk Payment Gateway

The right high-risk payment gateway gives businesses more than just the ability to process payment transactions. A reliable high-risk payment gateway will enable business growth.

Quick Cash Flow – Greater funding availability through quicker payments settlements and fewer payment holds than their competitors will give businesses the ability to have access to their funds when they need it.

Stable Business Operations – When a merchant has minimal to no risk of suddenly shutting down or freezing their payment processing accounts, they are able to plan and scale their business with confidence.

Increased Customer Trust – Secured and seamless checkout experiences increase consumer confidence and lead to repeat purchases.

Open Up New Markets Through Global Expansion – By accepting international payments, merchants can tap into new revenue streams and grow their businesses even further.

While reliability is always desirable for a high-risk business, it is not an option—it is a requirement.

The Importance of Partnering with a High Risk Payment Gateway Provider

Many businesses will experience changes in sales volume, customer behavior, and geography as they continue to grow. As a result, it is critical for businesses to find a high risk payment gateway that can adapt to the changing needs of the business while remaining compliant with industry standards.

A high risk payment gateway can provide business owners with the assurance that their payment processing operations are protected through proactive management of risk, transparency in pricing, and personalized customer support. This will allow business owners to concentrate on improving their customer experience and marketing instead of having to worry about payment disruptions.

How to Choose the Best High Risk Payment Gateway Provider

Choosing a payment gateway provider should not be limited to considerations of technology; rather, it is an opportunity to partner with the right provider. The right provider will understand your business and its specific needs and will provide customized solutions and expert guidance to help achieve your business growth goals.

As you evaluate potential payment gateway providers, you should look for:

• Experience working with high risk merchants

• Transparent pricing with no hidden fees

• Excellent technical support and customer support services

• A proven history of reliable service

Working with a reputable provider ensures that businesses in high-risk industries can continue to thrive (remain compliant and safe) while growing profitability.

In Summary

For a growing business in a high risk industry, a reliable high risk payment gateway provider is an essential foundation for continued growth and success. By providing the Trinity Consultings tools needed to ensure secure transactions, higher approval rates, and seamless cash flow, a reliable high risk payment gateway provider serves as a catalyst for continued growth and scalability.