Tag Archives: high risk payment processor

In the realm of commerce, certain ventures brave the tempestuous waters of high risk, encountering formidable challenges along their journey. From regulatory hurdles to heightened fraud risks, these high-risk business merchant accounts require specialized support to navigate through turbulent seas. This is where Radiant Pay emerges as a beacon of hope, offering bespoke Merchant Account Solutions tailored to the unique needs of high-risk businesses.

Understanding the High-Risk Landscape

In the intricate tapestry of commerce, high-risk business merchant accounts occupy sectors teeming with volatility and regulatory scrutiny. Whether it’s the adult entertainment industry or the unpredictable realm of online gaming, these ventures contend with a myriad of challenges, including elevated chargeback rates and stringent compliance requirements.

Safeguarding High-Risk Ventures: Radiant Pay’s Tailored Solutions

Radiant Pay stands at the forefront of empowering high-risk businesses with Merchant Account Solutions meticulously crafted to address their distinct challenges. Through a fusion of innovation and expertise, Radiant Pay offers a lifeline to merchants, facilitating secure payment processing without compromising on efficiency.

Fortifying Against Risks: The Radiant Pay Advantage

Harnessing cutting-edge technology, Radiant Pay deploys robust risk mitigation strategies to shield high-risk business merchant accounts from the perils of fraud and chargebacks. With vigilant monitoring and proactive intervention, they thwart unauthorized transactions, ensuring the integrity of every payment processed.

Navigating Regulatory Complexities with Ease

In a landscape fraught with regulatory complexities, compliance is non-negotiable for high-risk business merchant accounts. Radiant Pay takes the helm in steering businesses through these treacherous waters, staying abreast of regulatory changes and implementing measures to ensure seamless compliance at every turn.

Seamless Integration, Unwavering Support

Radiant Pay’s solutions seamlessly integrate into existing business frameworks, fostering a frictionless payment experience for high-risk business merchant accounts and customers alike. Coupled with round-the-clock support, their dedicated team stands ready to address queries and concerns, ensuring uninterrupted operations.

Empowering Growth Through Scalability

As high-risk business merchant accounts chart their course towards growth, scalability becomes paramount. Radiant Pay’s solutions are designed to evolve alongside businesses, accommodating fluctuating transaction volumes and emerging market trends with unwavering flexibility.

In Conclusion

In the tumultuous seas of high-risk commerce, Radiant Pay emerges as a steadfast ally, empowering high-risk business merchant accounts to navigate through challenges with confidence. With tailored solutions, robust risk mitigation, regulatory compliance, seamless integration, and scalability, Radiant Pay paves the way for businesses to chart a course towards prosperity amidst uncertainty.

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Navigating High-Risk Waters: Radiant Pay’s High-Risk Merchant Account Solutions for Hassle-Free Business Transactions

March 12, 2024 admin Leave a comment

In the ever-evolving realm of commerce, certain businesses find themselves sailing through high-risk waters, facing unique challenges when it comes to securing reliable merchant account solutions. From online gaming and adult entertainment to pharmaceuticals and travel agencies, enterprises operating in high-risk sectors encounter increased scrutiny from financial institutions. Radiant Pay, a leading provider of high-risk merchant account solutions, emerges as a beacon of stability, offering hassle-free financial services tailored for businesses traditionally labeled as risky.

Understanding the High-Risk Landscape

High-risk businesses grapple with hurdles in obtaining merchant accounts due to their elevated susceptibility to chargebacks and fraud. Traditional financial institutions, wary of potential financial losses, often hesitate to provide services to these enterprises. Thus, businesses in sectors such as online gaming, adult entertainment, and travel agencies seek alternative solutions that can meet their unique requirements.

Radiant Pay’s Tailored High-Risk Merchant Account Solutions

Radiant Pay specializes in providing merchant accounts specifically designed for high-risk industries, addressing the challenges these businesses face. The company’s team of experts combines cutting-edge technology with industry expertise to ensure clients can securely process payments without encountering the traditional roadblocks associated with high-risk classifications.

Hassle-Free Onboarding Process for High-Risk Businesses

Radiant Pay’s standout feature is its hassle-free onboarding process. Recognizing the urgency and sensitivity of high-risk business operations, Radiant Pay streamlines the application and approval procedures. This allows clients to swiftly integrate high-risk merchant account solutions into their operations, minimizing downtime and maximizing revenue potential.

Advanced Risk Management Tools for High-Risk Transactions

Radiant Pay goes beyond providing merchant accounts by incorporating advanced risk management tools. These tools assist businesses in monitoring and mitigating potential risks, ensuring a secure and stable financial environment. By staying ahead of potential issues, Radiant Pay empowers high-risk businesses to focus on growth rather than constantly navigating through uncertainties.

Conclusion: Partnering with Radiant Pay for High-Risk Merchant Account Solutions

For high-risk businesses seeking a reliable and hassle-free merchant account solution, Radiant Pay emerges as a trusted partner. The company’s commitment to understanding the unique challenges of high-risk industries, coupled with a streamlined onboarding process and advanced risk management tools, positions Radiant Pay as a beacon of stability in an otherwise unpredictable market. With Radiant Pay’s high-risk merchant account solutions, businesses can confidently navigate the high-risk waters, focusing on achieving their goals and driving sustainable success.

High Risk Merchant Account

Radiant Pay: Your Trusted Partner for High-Risk Payment Processing in the UK

January 9, 2024 admin Leave a comment

In the dynamic landscape of online commerce, Radiant Pay takes the lead in providing secure payment processing solutions tailored for high-risk industries. Whether it’s online gaming, adult entertainment, travel, or nutraceuticals, Radiant Pay’s expertise ensures a reliable and robust payment experience.

Radiant Pay: Your Trusted Partner for High-Risk Payment Processing in the UK

Cutting-Edge Technology for Enhanced Security

At the heart of Radiant Pay’s success is its commitment to advanced technology and state-of-the-art security measures. Employing top-tier encryption and fraud prevention tools, the company safeguards transactions and sensitive information, minimizing risks for businesses and boosting customer trust.

Guidance for Navigating High-Risk Markets

Understanding the unique challenges of high-risk industries, Radiant Pay’s team of experts provides personalized guidance and support to clients. By staying ahead of industry trends and compliance requirements, Radiant Pay empowers businesses to navigate high-risk markets with confidence and compliance.

Transparent and Reliable Partnership

Radiant Pay prides itself on transparency, offering straightforward fee structures and clear communication. The company aims to build lasting partnerships by providing reliable and transparent payment processing solutions, enabling businesses to thrive in high-risk environments without hidden complexities.

Compliance and Innovation in Harmony

Radiant Pay doesn’t just meet industry compliance standards; it anticipates and adapts to regulatory changes. The company’s focus on compliance and innovation ensures that clients remain not only secure but also at the forefront of developments in the high-risk payment processing landscape.

Elevating Business Transactions with Radiant Pay

In a fast-paced online business world, Radiant Pay stands out as a trusted ally for companies seeking high-risk payment processing solutions in the United Kingdom. With a customer-centric approach, cutting-edge technology, and a commitment to transparency, Radiant Pay continues to redefine the standards of secure and efficient payment processing for businesses in challenging industries.

Business services, high risk payment processing, Merchant Account, payment gateway Solutions, Types of Merchant Account

How Do You Get A Merchant Account? Guidance For Small Businesses

November 14, 2022 admin

Managing payments is a challenging aspect of doing business, especially when you’re just getting started. It’s a good idea to get a merchant account once you’ve opened a business bank account. Why? Because if you don’t, you might not be able to accept credit or debit card payments. However, what is a merchant account? Use our guide on setting up a merchant account for small company owners to learn everything you need to know.

What Basically Is A Merchant Account?

A merchant account is an account into which funds from processed debit and credit card purchases are sent. Along with payment gateways and payment processors, it is a critical component of the payment process. You will not have direct access to the account while you possess it. Instead, funds in your merchant account are moved automatically to your company banking account within 1-2 working days.

So, why should you register a merchant account if you can’t get your money? It’s straightforward. You won’t be able to accept credit or debit card payments from your consumers unless you have a merchant account.

Why do small businesses need to set up a merchant account?

You should try to accept as many payment options as you can as a small business owner. If you only accept cash, you can find yourself turning away potential customers. If you have a merchant account, you’ll be able to accept credit and debit card payments online and in person. Additional tools that merchant accounts offer, such as check processing services or online reporting options, may help you launch a small business. There are also merchant accounts that offer services to ensure that your account stays PCI DSS compliant, helping you to maintain the security and protection of your customers’ transaction data.

How Small Businesses Can Set Up A Merchant Account?

Opening a merchant account is simple, but do your homework to find the best supplier for your small business. Each supplier will have unique features, cost structures, and contract provisions. Pay close attention to the costs involved and contrast the services provided by various providers.

The next step is to set up your merchant account after selecting your provider. As well as your routing and account numbers for the business bank account where you want to accept your deposits, you must submit your business name, contact information, and tax information.

How Do Merchant Accounts Function?

After opening a merchant account, you can begin accepting credit and debit card payments. Here is a step-by-step explanation of what to anticipate:

Accepting payments

A card reader is required for in-house payments; these are often provided by your payment processor. Customers will only need to provide their card information if they are selling online.

Payment processing

Following the acceptance of payment, the card information of the customer is transmitted from the card reader to the payment gateway and then to the payment processor. Prior to being transferred to the customer’s bank, the information is first sent to the card network. When there are enough funds in the account, the transaction is authorized, and the card reader receives a confirmation.

Payment collection

This is when a merchant account is useful. The funds will be deposited here by the client’s bank and held here until they are transferred to your company’s bank account. There is typically a downtime of between 24 and 7 days, also referred to as the “settlement period.”

Setting Up A Global Merchant Account

You might want to think about opening an international merchant account if your small business has its sights set on international growth. You will be able to accept credit and debit card payments from clients all over the world as a result. Since you can open international merchant accounts anywhere you wish to grow your business, this is a smart strategy.

We Are Happy To Assist.

Radiant Pay enables you to automate payment collection, reducing the amount of administration your staff must handle while pursuing invoices. Look at the impromptu payment options and recurring payment options we offer.
Radiant Pay is committed to providing you with payment processing services that are uniquely tailored to your business needs. We help our merchant partners accept a variety of payments from their customers, including credit cards, debit cards, bank transfers, online direct debit, and real-time bank transfers. Additionally, we provide assistance with offshore merchant accounts, high-risk processing, processing checks, and ACH transactions.

Gaming Merchant Account, High Risk Merchant Account, Merchant Account

Seeking A Fantasy Sports Merchant Account?

November 7, 2022 admin

The industry is thriving when it comes to obtaining a fantasy sports merchant account. This high-risk vertical will require a payment processing provider that understands the ins and outs of this specific gaming model, as well as recommendations, advice, and sports forecasting that goes along with fantasy sports merchant accounts. Many of them require high-risk merchant accounts. For your online fantasy sports merchant account, whether it’s phone orders, online sales, recurring billing, or anything else.

Radiant Pay processes payments for fantasy sports merchant accounts in the professional leagues listed below:

Fantasy Football (NFL)
Fantasy Baseball (MLB)
Fantasy Hockey (NHL)
Fantasy Basketball (NBA)
Fantasy Racing (NASCAR)
Fantasy College Football (NCAA)

For a multitude of reasons, a Fantasy Sports merchant account is regarded as high risk, making it difficult to locate a dependable processing partner. Radiant Pay specialises in working with high-risk merchants, and we have a number of acquiring banking partners who provide Fantasy Sports merchant accounts.

Do you need a Fantasy Football Processor?

Choose your players, your starters, and the fantasy football processor that is best for you. Your company may have a large number of customers who want to sign up, form teams, and place bets. You immediately learn that you have no method to accept online payments via debit or credit cards because your firm is classified as high risk, which you were unaware of previously, and you’re now left with clients to serve but no way to accept their money.

Rather than becoming increasingly frustrated with the process of being declined and given the runaround when applying with traditional banks, or worse, having your fantasy sports merchant account frozen or completely dropped by an aggregate processor like PayPal or Stripe, you take the smarter, more efficient route of seeking out a dependable and knowledgeable high-risk merchant account provider.

What Is the Purpose of a High-Risk Fantasy Football Merchant Account?

It’s not always all fun and games with fantasy football merchant accounts. Furthermore, the risks of this market might cost a lot of money in customer-initiated chargebacks. Customers that are bitter losers are one of the most common causes of chargebacks. While some customers may win big, others will not, and those who do will normally chalk it up to a fair loss and play again – but others and this group of “others” are substantial, will be angered by the loss and file a fake chargeback in an attempt to avoid paying for the service entirely.

The excessive amount of chargebacks, commonly known as a company’s chargeback ratio, is a major contender for fantasy sports merchant accounts being classed as high-risk. When chargebacks occur, they are unpaid by the business owner or merchant, which is one of the most important financial losses for credit card processors, which are rigorously scrutinised by both sponsor banks and credit card companies.

Sponsor banks will cancel any fantasy sports merchant account that consistently exceeds 2% in chargebacks and will levy a fine on the payment processor who set up your merchant account. With the chargeback rates for fantasy sports merchants, most traditional banks will not even consider supplying payment processing solutions to a high-risk business like this – there is simply too much responsibility and uncertainty involved.

Why is credit card processing for fantasy sports so risky?

Fantasy sports credit card processing can be simple, but choosing a provider with the expertise you need to get proper underwriting for your fantasy sports merchant account, as well as a company that has been in the business long enough to have developed relationships with sponsoring banks, is critical for high-risk merchant accounts. Failure to be choosy in who you choose to set up your payment processing will effectively determine the future success and longevity of your business as a whole. High-risk merchants aren’t always the first to be approached by banks for a fantasy sports merchant account – in fact, they typically deny any high-risk applications that come across their desks.

This implies that what was most likely your Plan B soon becomes your Plan A, and if you don’t have access to options that make sense for your business model, you can find yourself rushing for solutions. What are your options? First and foremost, you need a high-risk merchant account provider, such as Radiant Pay, that does all of their underwriting in-house and has the experience and banking ties to get you approved for a fantasy sports merchant account and accept payments quickly.

Cryptocurrency Merchant Account

The Growth of Cryptocurrencies Acceptance

September 14, 2022 admin

Digital currency constitutes cryptocurrency. You will be accustomed to terms like Bitcoin, Ethereum, Dogecoin, etc. Every sort of digital money has its own set of regulations and value fluctuations. They are a substitute for cash, and many individuals now buy things from online shops using bitcoin or other digital currencies.

However, not all nations recognise cryptocurrencies as legal tender and are still in their infancy. Although some contend that cryptocurrencies have no actual value, they are traded every day all around the world. No matter where you go in the globe, it has the same worth and does not change according to exchange rates. Especially in the area of eCommerce, this makes it perfect for buying and selling.

A Plethora Of Benefits To The Customers & Business

As cryptocurrencies gain popularity, more individuals want to pay with them and look for businesses that accept them. We already know that cryptocurrencies have cheap transaction fees, which indicates that businesses can benefit from using them. Multiple payment methods are available through merchant accounts, and cryptocurrencies are being added. International currency is unaffected, and it restricts the kinds of card fees or other costs that both parties could have to pay.

Additionally, cryptocurrency also safeguards data. Blockchain technology safeguards personal information and stops identity theft. Because of this, you need to think about the advantages and how they might alter in the future. As the value of cryptocurrencies rises over time, more and more companies are trying to figure out how to include them in their merchant services.

Future Of Cryptocurrencies In Ecommerce

Cryptocurrency has unquestionably got a lot of room to develop. Blockchain innovations will let businesses modify their practices. They will alter their data storage practices, spending patterns, and purchasing behaviour. Implementing this method of payment on your merchant website may boost your company’s overall performance because it will influence consumers’ purchasing patterns. Global investment is being made. Future connectivity with the Cloud is a fantastic step toward the future.

If your business is one of those left out of the crypto payments category, you should probably start thinking about how to take crypto payments to stay competitive.

How To Do It: Accept Cryptocurrencies As Payment

Approach platforms that offer customizable merchant services for your business. Payment processing is streamlined and made simpler using Radiant Pay. After decades of practice, we attained professional status. Due to the fact that we have numerous acquiring banking partners worldwide, we can set up a cryptocurrency merchant account with ease. You can get in touch with us right away at https://radiantpay.com/contact.html, and we’ll help you choose the finest payment method for you.

At Radiant Pay, we have a focus on high-risk merchant accounts and a deep understanding of cryptocurrencies and their importance in the current market. Therefore, it is best advised that you choose a payment processor that meets your company’s needs.

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Reasons For The Decline Of Your Merchant Account Application

September 2, 2022 admin

Applying for a merchant account can be a daunting experience, especially if this is your first time in the market.

When a firm goes bankrupt or has a large number of chargebacks (the reversal of cash requested by the customer from your account back to the customer), merchant processors face financial risk and liability. It’s an obvious opportunity for fraudsters. So, before forming a partnership, banks and merchant account processors do their study.

When a company does not match the requirements for a low-risk merchant account, a high-risk option generally meets its needs. These accounts enable businesses with high chargeback rates, poor credit, or a bad reputation to accept credit and debit transactions, but getting one is far from guaranteed. If you make a few errors on your application, your business may be unable to accept your consumers’ payment options.

If your high-risk merchant account application is rejected, it could be due to one of the following issues:

Lack of appropriate documentation

Give the account provider the most accurate summary of your firm that you can when completing an application. To accomplish this, you’ll need current monthly statements that include information about your business’s monthly volume, chargebacks, and decline rates.

High Decline Rates

Customers’ banks may reject transactions when they make purchases from your business owing to incomplete information, anti-fraud regulations, and other reasons. Even while this issue may be unavoidable, if it persists long enough, it may have negative effects. Some merchant account providers could refuse to work with you if more than 10% of your transactions are refused.

You Are Enlisted On The MATCH List

Those who engage in fraud, money laundering, collusion, illegal activities, and other offences are listed on the Member Alert to Control High Risk (MATCH) list. You can find it challenging to get a merchant account for up to five years if your name or that of your company shows on the list.

Make sure the directors you choose—or even the company’s largest shareholders—have a spotless record to avoid being included on the MATCH list.

Your Company Is Linked to Fraud or Illegal Activity

The acquiring bank may reject your merchant account application if it determines that your goods or services are connected to fraud or unlawful activities. Among the instances are:

A merchant attempting to sell controlled substances.
Adult material that is prohibited, such as child pornography, excessive violence, or bestiality
Products on a website that don’t match the description or price

High Chargebacks

High-risk accounts typically give sectors that frequently deal with disputed transactions more latitude. The same is true for companies that provide services like annual memberships or automated recurring billings, which can lengthen the duration during which a business is exposed to chargebacks. However, there is still a line that some service providers won’t go beyond. The likelihood that your application will be approved will rise if you avoid making too many chargebacks.

Issues with Licences

Companies typically require a business license to approve a merchant account. In many cases, this can be as straightforward as obtaining a company license, but some internet businesses, including pharmacies and gambling websites, are subject to tougher regulations that limit where they can operate and what they are allowed to sell. You could not be eligible for a high-risk merchant account if your business is unable to acquire these requisite permits.

Tax liabilities

To open a merchant account, you must provide both personal and business information, especially if you need to issue a guarantee on behalf of a specific person. Establish a debt-resolution mechanism to make sure a tax lien won’t have an impact on your application since it is a huge red flag for service providers.

Unclear Sales Volume

One advantage of opening a high-risk account is the potential to generate large sales volumes. But the best course of action is always to be transparent. If you declare volumes that are out of proportion to the size of your typical ticket, your application might not hold up under review by a service provider.

Failing to comply with Merchant Agreement Terms

If you go over the processing thresholds set in the merchant agreement of your service provider, you risk offending them. Understanding the terms to which you have signed is crucial because failing to do so could make it difficult for you to obtain future merchant accounts.

Abominable E-Commerce Enterprise

There is a list of sectors that the majority of high-risk credit card processors do not accept. This does not imply that the enterprise is unlawful. It can only signify that the processor lacks a financial partner that accepts this particular sector of e-commerce. Based on the level of risk, acquiring banks choose which e-commerce sectors they want to embrace, and the bank may simply judge your sector to be too hazardous.

The aforementioned advice can assist you in taking the proper actions to quickly and easily obtain acceptance for a merchant account.

For your business’s Low, Medium, or High-risk levels, Radiant Pay has the ideal combination of merchant account services to let your profits flow smoothly. Any legitimately operating business that sells memberships, services, or goods online is qualified to apply for a merchant account.

Forex Merchant Account Services, Forex Trading

Forex Broker’s Payment Gateway

July 27, 2022 admin

Forex Merchant Account Services

The word Forex is firstly an acronym for Foreign Exchange. Forex is a global marketplace where foreign currencies are speculated, bought, sold and traded.

The Forex Market is the largest financial market globally, involving $ 6.6 trillion in daily trading. It is also the most significant active market in the world. This market is used by commercial, investment, and central banks, multinational corporations, hedge funds, investment managers, and individual traders. It serves as the world market for currency exchange.

The forex market serves as a potential for individuals and institutional traders to make profits from currency trading. To make this trading happen, forex traders need a payment gateway that permits them to deposit and withdraw their funds at inexpensive transaction rates.

What Is a Forex Payment Gateway?

The currency trading platform and its users are connected by a forex payment gateway. Merchant integrates Forex Payment Gateway with the platforms allowing brokers to accept payments from their clients. Meanwhile, traders also use this forex payment processing system to deposit and withdraw money from their accounts, here the payment gateway collects the sum and transfers it to Merchant’s Bank account from the user’s account. Before sending the money to the merchant, the forex payment gateway deducts a percentage-based, a fixed fee, or both, as payment for the service.

Why Is it Difficult for Forex Brokers to Find a Payment Gateway?

The main reason it is difficult for forex brokers to find payment gateways is that forex trading is considered a high-risk business and gateways and processors will have frequent concerns regarding working with these merchants. Since there is a lot of trading going on on the platforms used by forex brokers, they process a lot of transactions every day, which raises their chargeback rates. Due to payment processors’ classification of forex service providers as high-risk companies, brokers should expect their applications to be denied at conventional gateway solutions.

Why Is Forex Considered High Risk?

As mentioned above it is not the merchants but the banks who classify the forex business as high risk. Apart from the fact that Forex Merchant Accounts generally face high levels of chargebacks and fraud, it involves users globally, as forex is a global trading platform. This means that it is not regulated by the regulations of one nation and no one nation may be in the power over another nation’s currency.

It has come into consideration that many trading platforms are not licenced businesses. To conclude, the lack of regulation is the major part where banks classify Forex Business as a high-risk business. The likelihood of fraud, money laundering, and chargebacks from disgruntled investors has increased, which is another factor that causes banks to view Forex merchant accounts as high risk.

Possessing all required licenses as well as effective anti-fraud and anti-money laundering filters will make it simpler for you to get your merchant account approved.

Finding a payment provider who is aware of the particular requirements of your industry and who will implement clever anti-fraud filters capable of telling your real customers from fraudsters is therefore crucial. Anti-fraud filters have the potential to develop into overly sensitive, which lowers the likelihood that payments will be accepted, lowers conversion rates, and irritates customers.

Prefer a payment processor to find the ideal balance between the two to avoid this.

What Should Merchants Consider When Choosing a Forex Payment Gateway?

Forex businesses must consider several factors before selecting a payment gateway solution, such as:

Instant Transfers: Forex traders must act quickly to seize opportunities and profit from currency fluctuations. Because of this, merchants must pick a payment gateway that handles customer transactions quickly.
Fees: Considering that price spreads and other trading fees are how forex brokers make money, maintaining a profitable business requires an affordable payment gateway.
Chargeback Protection: A payment gateway must be able to offer chargeback protection to merchants to shield them from disgruntled investors or dishonest actors because chargebacks are a significant challenge in forex trading.
Security: The strictest anti-fraud and anti-money laundering security requirements, including PCI compliance, must be followed. This ensures that the money and information of traders will be secure.
Multiple payment systems: A payment gateway must be able to provide a wide range of payment options due to the global nature of forex trading. Credit and debit cards must be among them, as well as additional payment options like digital wallets, various currencies, and others.
Multi-currency system: Expenses associated with currency conversion can deter traders from using brokerage platforms. Because of this, choosing a solution for a forex payment gateway that provides reasonable exchange rates is crucial. Even better, the service offers multi-currency accounts for merchants and their customers to reduce the cost of currency conversion.

Forex Merchant Account Application Requirements

To approve and set up forex merchant services for your brokerage, several documents are needed. After the processor receives them, approval will occur in one or two days.

Application
ID (issued by Government)
Utility Bill
Corporate Documents
Domain Registration Screenshot

Start your Forex Merchant Account Services With Radiant Pay

Applicants for payment processing solutions from companies looking to open a merchant account for forex brokers. A brief application must be filled out and a few supporting documents submitted to our company. To get started, get in touch with one of our experts on forex payment processing right away at Radiant Pay, a leading payment service provider in London, UK.

Have you yet to “like” us on Facebook? Join us on LinkedIn too!

Adult Merchant Account, High Risk Merchant Account, high risk payment processing

Adult Merchant Account: Unveiling The Taboo!

July 18, 2022 admin Leave a comment

With the rise in the Digital Age, the adult industry has also boomed. Among many sectors in the market, the adult industry is one of the most lucrative, and growing rapidly, especially in the United Kingdom. The industry is expanding dramatically in terms of sales volume, a spike in the number of customers making purchases. The world has moved its businesses from offline or bricks and mortar to online, and so is the Adult Industry moving too. And with the industry moving, business owners need a merchant account in order to accept credit and debit card transactions.

However, getting an account approved for this becomes a task. Due to the nature of business and a variety of other reasons most providers simply won’t approve an account adult business. The main reasons for rejection which are highly influenced are increased risk of chargebacks and reputational damage. This might have resulted in forcing many business owners out of desperation to accept subpar standard processing solutions for their legitimate online business.

Finding the right fit solution for your business can be difficult and troublesome but it will help the business in the long-term success of your online adult business be it the sale of sex toys or physical goods which comes under this business or the subscription services for exclusive digital content.

For all adult goods and services, including digital downloads, entertainment websites, legal escort services, streaming video, webcams, online dating, toys, novelty items, travel, strip clubs, and more, Radiant Pay offers adult merchant accounts. Since Radiant Pay has been doing this for a while, we are in a good position to impart our specialized knowledge on offering “package” services to the online adult industry. With affordable prices, subscription billing services, and cutting-edge fraud prevention technology.

The term “adult industry” covers a wide range of goods and services with adult themes. Here is a short list of the adult industry’s most popular subcategories:

Dating Websites
Sex Education Material
Lingerie items
Fetish-related items, Sex toys
Lubricants and Lotions
Adult-themed videos and photographs
Escort Services

What Makes the Adult Industry High Risk?

The following are some elements that make businesses in the adult sector high risk:

Reputation Risk:

While the majority of processors are happy to work with any profitable company, they do have to consider their reputations. Even though they are entirely legal, some providers simply don’t want to be associated with these kinds of companies.

High Regulatory Compliance Standards:

Compliance with multiple laws adds a layer of complexity that many processors do not want to deal with given that eCommerce businesses operate in almost every state.

Chargebacks

The most frequent factor that makes a company considered high-risk are having a higher-than-average chargeback rate, which affects many areas of the adult industry.

Risk of Frauds

All eCommerce businesses are increasingly concerned about fraud, but historically, the adult entertainment sector has had more of a problem with it.

Payment Fraud

The primary method of payment for adult entertainment and eCommerce businesses is card-not-present (CNP) transactions. In comparison to in-person card payments, CNP transactions have higher rates of identity fraud.

We Radiant Pay provides adult businesses with multiple options from which to choose, and we process online credit card and check payments. This will help both unbanked customers and businesses that have trouble getting merchant accounts. The majority of adult businesses can obtain an adult merchant account through Radiant Pay, which specializes in high-risk merchant accounts and is connected to card processors.

Hassle-Free Adult Merchant Account

Are you having trouble locating a provider of adult merchant accounts? Whether you operate an adult business online or offline, we do have a good solution for you. You may have spent many hours filling out card processor applications only to keep getting rejected. You will require a Merchant Account and a payment gateway if your business caters to adults. Your company will be able to accept card payments online while also increasing security by not keeping any cash on hand. Although many providers of payment services are hesitant to work with adult businesses, many of them are skilled in high-risk credit card processing solutions.

If you have any questions about setting up a merchant account, get in touch with us to speak with one of our payment specialists.

Author’s Giveaway:

Understanding 2257 and How It Affects Your Adult Business

Banking institutions place a high priority on following rules and regulations because doing otherwise could harm their reputation, and finances, or cause them to be penalized. The fact that the adult sector is subject to more regulations than many other sectors simply increases the likelihood of noncompliance. To obtain an adult merchant account and promote the adult industry as law-abiding, it is crucial to abide by all regulations that apply to the sector.

However, if you employ an actor of any kind, 18 U.S.C. 2257 must be practised in the daily operations of your adult business. Strippers, cam girls, and phone sex operators are the first types of performers. According to Section 2257, every producer of adult content is required to have and keep a copy of a government-issued photo ID proving the performer is at least 18 years old. This document must be kept for at least seven years. If your company dissolves, you are required to keep this record for five years after the end of the business.

Cryptocurrency Merchant Account, High Risk Merchant Account, high risk payment processing

Top 7 Reasons Why You Should Accept Cryptocurrency

June 13, 2022 admin

If you run an online business, why not accept a digital currency as well? While there has been some discussion about whether or not to accept cryptocurrencies, now is the time to take advantage of their flexibility and offer your customers another payment option.

Bitcoin and other digital assets are increasingly being used in everyday business transactions for a variety of reasons, including investment and operation. As with any other digital innovation, there are risks, but there are also substantial benefits. In practice, the list includes not only Bitcoin but also other cryptocurrencies.

Adopting the most delinquent technology in your business ensures that your brand is credible and acceptable. Radiant Pay offers competitive terms when it comes to establishing a cryptocurrency merchant account.

In this quick read, we’ll go over the top 7 reasons why you should accept cryptocurrency into your business right now!

Transactions take place quickly.

There is no need to wait for cryptocurrency transactions. The transactions are frequently completed in real-time or in a matter of minutes. Whereas credit card payments can take days, if not weeks, to process. Multiple banks do not slow down the payment process. On the other hand, cryptocurrency allows for instantaneous transfers as well as simple, real-time, and secure money transfers.

Global Acceptance

Because everyone in the world uses the same protocols to trade and invest in cryptocurrency, there is a global presence for crypto payments. As a result, customers will be able to pay more easily, and your online store will gain value.

No fraud, hacking, or chargebacks.

Security is the most important aspect of cryptocurrency payment processing. E-commerce businesses can also use a secure cryptocurrency payment gateway provided by payment processing service providers. Consequently, whether you run a brick-and-mortar store or an e-commerce site, a crypto payment processor can assist you in securing your transactions and customer data.

When it comes to crypto payments, this makes it impossible for fraud to happen. Each transaction involving cryptocurrencies must be approved by both parties. As a result, there will be no more disputes, and chargebacks will be eliminated.

Acquire new customers.

Cryptocurrencies have a large following; more and more people are learning about them, adopting them, and investing in them. Accepting digital currencies will be extremely beneficial to your business as your customers become more familiar with and use cryptocurrencies. While this is still a niche market, it isn’t going to be for long. It’s better if you give your customers as many payment options as possible. You’ll not only attract a larger customer base and more shoppers, but you’ll also save money.

Enhances your Brand Awareness

Crypto payments are one of the best tech-savvy methods to accept payments from all over the world because they offer a more advanced and secure method than credit and debit payments. Payments made in cryptocurrency reflect well on your company. That means that if you start accepting cryptocurrency right now, you’ll be ahead of the curve and ahead of the competition.

Accepting cryptocurrency allows you to save money.

Because cryptocurrencies are decentralized, they do not require every transaction to be verified by a bank. This means your company will no longer have to pay those fees, and you will no longer have to share your hard-earned money with financial institutions.

Lower Transaction Fees

The rates for accepting cryptocurrency transactions are substantially lower than those for debit and credit cards. Accepting digital currency instead is advantageous for small businesses because their transaction volume is low compared to large businesses, which get an advantage in negotiating a lower credit card transaction fee.

Cryptocurrencies have transformed the world of finance, with benefits resulting, in large, medium, and small businesses alike. When used correctly and, above all, with the right advice, digital assets can provide a significant financial and operational benefit to a business.

The Radiant Pay team is a powerhouse of brilliant minds who collaborate to deliver comprehensive solutions that are tailored specifically for your company! We have a broad understanding of payment dynamics in a variety of industries.

We can help your business qualify for Cryptocurrency acceptance thanks to our experience and scalable payment solutions. Offering cryptocurrency payment processing services allows you to accept Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dogecoin.

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Understanding the High-Risk Landscape

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A Plethora Of Benefits To The Customers & Business

Future Of Cryptocurrencies In Ecommerce

How To Do It: Accept Cryptocurrencies As Payment

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Author’s Giveaway:

Transactions take place quickly.

Global Acceptance

No fraud, hacking, or chargebacks.

Acquire new customers.

Enhances your Brand Awareness

Accepting cryptocurrency allows you to save money.

Lower Transaction Fees

Online Merchant Account Solutions