What to consider when looking for a high risk payment processor https://lotpayments.com/apply-now.php

There are many high risk credit card processors out there, so it’s not that easy to choose one that will meet all your business needs.

Business model. Make sure that a payment processor works with business models that your company operates.

Security. As high risk merchants generate more chargebacks or fraud attempts, you need a reliable chargeback prevention system and a multilayered approach to security. Ask for antifraud tools, AI-based fraud checks, real-time notifications, and more.

Expertise. How long the company has been on the market and the experience of its leaders is crucial, especially when it comes to high risk merchant accounts. What also helps is their knowledge of all the ins and outs of niche industries.

Flexibility. Find a high risk processor that lets you implement various payment scenarios to cover all your business needs, even when you run a complex business model. Make sure you can discuss the rates, conditions, and features tailored to your business.

Transparent pricing. Search for the pricing structure on a payment processor’s website. Be clear about how much it will cost you and that there are no hidden or extra fees. When you can’t get precise information from your potential high risk processing partner, it should ring an alarm bell in your head. Also, keep in mind that rates might be lower when your revenue goes up.

Technology. Is your prospective payment gateway providing multiple accounts? Can you customize every element of your payments? Does the payment platform deliver versatile APIs that give you full control over the setup and payment process? What you need is both fast onboarding and truly user-friendly payments without downtimes and unexpected surprises.

Responsive support. Make sure that there really is someone on the other side. Think what might happen when there are issues with payments on your website and you will get no help from your payment provider. You need to feel taken care of.

Avoid pricey contracts with legacy payment processors that lack know-how and innovative technology. Your goal should be to minimize friction in your high risk business, so conduct in-depth research before you decide which high risk credit card processor you’ll work with.

At Lot Payments, we understand that the payments industry is constantly changing and at an increasingly rapid pace. Online sales is now the norm. How do you maximise this global online sales explosion?  With extensive experience in this global industry, we’ve been helping companies of all sizes respond to industry transitions in order to stay competitive. Our years of experience have taught us to always make your business success our priority.

We are seasoned professionals with many years experience in the global payments field. Let us guide you on how best to expand your online sales footprint across the globe.

Our experts are ready to help you develop strategies to thrive in the future. Give us a call today to set up your free consultation. 

Apply with lotpayments today and discover the great benefits available, especially for high-risk businesses seeking merchant accounts. With lotpayments’s expensive offshore acquiring bank connections, you can be sure to find a solution to make your business a success.

Schedule a Consultation https://lotpayments.com/apply-now.php

It’s simple. We take the risk when banks won’t. Fill out an online application today and get approved in as little as 24 hours.