Has being classified HIGH RISK cost you revenues?

If you have been denied credit card processing
or pay additional fees we can help.

All new businesses are considered high risk. Banks just don’t know whether a new entity will survive very long and so they are considered risky. Small businesses fair no better in the eyes of these merchant banks. One bad month or quarter could force the owners into something untenable. So what do the banks that work with these businesses do? Why of course: charge them more! Make it harder for them to become profitable by making their payment system cost more than it should.

Payscout has an answer for the new and small business. Payscout’s payment gateway offers some of the best priced and best delivered credit card processing services for new and smaller businesses.

But wait there is one more high risk group: internet merchants.

The internet changed credit card processing. Before the internet, you would have a retail shop or some other physical location where transactions would take place. To take credit card payments you would have to get set up with a commercial bank or merchant account bank. The process was slow and the equipment expensive, but the reward was being able to increase sales revenue by a wide margin.

There was a process for ‘card not present’ credit card processing but that was for mail order or telephone order companies. Again, the approval process was long and difficult.

The internet changed credit card processing overnight because the same people who could take credit cards in their stores now needed to take credit cards when their stores were closed and their customers were at home in their PJs and slippers. The internet now made it possible for anybody to become a store owner with need to take credit card payments online. The need to build out online credit card processing systems brought with it an exponential growth in those needing the services of credit card processing.

In the onslaught, merchant banks were getting hit with credit card chargebacks and losses by many fly by night businesses that only existed in the virtual world. They needed a system to minimize the risk and reduce the rising costs on their good merchants.

They created risk tiers with almost all internet retailers being classified in the High risk group. This meant that they were not approved to take credit cards, or were approved with great restrictions on their account (such as not being able to dispute a customer charge back). US merchant banks made it difficult for many high risk businesses to take credit card payments in a cost effective way.

The answer is offshore banks.

The internet has grown up and many US banks still pretend that they are feeling the brunt of fraud from high risk merchants.

Payscout works with numerous banks both in the US and offshore. Payscout has international merchant processing solutions to help your business achieve more profitable credit card processing. Apply with Payscout today and let us find the international credit card solution that is perfect for your business.