What is considered as a High risk merchant account uk

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23/05/2020 18:10:21

There are a number of factors that can consider a business as being a ‘high risk business’, however there are two main factors depending on whether the business is operating within a high fraud sector and the risk of financial failure within the business. What is taken into consideration are businesses with higher levels of charge backs which classes businesses within the ‘high risk’ sector, industries that have a bad reputation and long lead times.

There are a number of businesses that may fall under the ‘high risk’ industry that lead businesses looking for high risk merchant services in UK and Europe such as: gambling/casinos, e-cigarette and tobacco shops, call centres, high-volume eCommerce businesses, dating services, subscription payments, lotteries, CBD businesses, financial services, insurance companies, loans etc. This is just some of the many businesses that we provide merchant services to.

Being in a high risk industry can make it difficult to acquire high risk card processing in UK and Europe for taking both credit and debit card payments online. We at Paytriot Payments offer bespoke services to individual businesses. What makes Paytriot different from other high risk merchant services providers in UK and Europe are generally our high risk merchant accounts in the UK and Europe receive:

Low monthly fees

Low rolling reserves

Short settlement periods

Increased account security

You will gain access to our merchant management dashboard which provides you with the ability to run reports, graphs and analytics so that you have full clarity on all credit card processing and payment processing at anytime. The dashboard can be accessed globally with a secure internet connection and can be used via smartphone, tablet, laptop, pc etc.

Banks are usually very aware of who they set up accounts for when the businesses are within the high risk industry. However, Paytriot is listed directly with Visa and MasterCard allowing us to process payments on behalf of merchants and underwrite a merchant application in house. Our payment gateway offers access to security and control over each account allowing merchants to restrict accepting payments from certain countries and giving merchants access to card verification options and increased security when taking payments.

The difference?

With other high risk merchant services providers in UK and Europe you may be paying higher transaction fees as to them this would be a higher risk than a standard merchant account. With Paytriot we look at each individual application when we provide merchant accounts for businesses and less likely to consider it a high risk merchant account or a high risk card processing.

Transaction fees

We tailor bespoke package transaction value depending on the nature of the business sector, business model and the products/services sold.

Who are Paytriot Payments?

Paytriot Payments is a UK based payment provider that provides merchant services to businesses looking to accept payments online or over the phone based in the UK and Europe. Paytriot is regulated by the Financial Conduct Authority(FCA) in the United Kingdom and is listed with Visa and MasterCard to process card payments directly. Our team have gained years of experience in multiple sectors in the industry and would be able to fully understand your business model whether your business sector is in a complex low risk or high risk industry.

Paytriot also have a digital wallet available for those consumers that would like to securely store their card details and use only an email and password to pay at stores accepting Paytriot, or send funds to other Paytriot members such as friends and family in multiple currencies. The Paytriot app is available on the Apple IOS Store and the Google Play store.

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