While setting up an online business, setting up a payment gateway for payment processing services is necessary, or business owner may require opening a new merchant accountâ€”depending upon the various parameters and business requirements. Most high-risk business requires a merchant account to get paid. Customers usually pay through credit cards, PayPal, or other payment options. Through these, the payment arrives in the bank account but does not directly transfer to bank account instantly. Moreover, the payment gateway schedules the fund transfer time between 2-3 business days. The time between the fund transfer to the bank account, it stays with the merchant account.
Every payment processing gateway required merchant account behind the scene, either aggregated or segregated. When payment is transferred through radiant pay aggregated merchant account, the payment gateway takes care of the process. Means the user does not manage it, and the provider can change the policies and rules. Another type of merchant account is Retail merchant account for grocery stores and other local stores. However, radiant pay mostly deals in online merchant account set up for business, which provides the opportunity to buy products in one mouse click.Â
The online payment service provider provides the merchant account for a high-risk business with zero interaction with the credit cardholder. Radiant payâ€™s merchant account for the UK and European company gives the small business, self-professionals, consultants, or contractors access of the merchant account because these people are always on the move and required fee processing on the spot.Â
Radiant Pay analyses the risk associated with the business and suggests the appropriate merchant account for the markets. The high-risk businesses are travel agencies, multi-level marketing companies, credit restoration, casino, dating sites, pharmaceutical companies, any other companies who are willing to take a risk.