Get A Tier 1 Quality High Risk Merchant Account In Europe.
Are you searching for a High Risk Merchant Account In Europe? If yes, then you are on the right website. Quadrapay is a fast-growing merchant services provider with massive European connections. We play a pivotal role in helping you accept well-known credit and debit cards online. Getting a high-risk merchant account in Europe may be challenging for some businesses. Few industries are considered prohibited, and unfortunately, we cannot help merchants from those industries. However, if credit card brands do not view your industry as a banned industry. In that case, there is a huge possibility that you may get approved by high-risk payment processors in europe.
Features Of European Merchant Accounts
- Dedicated Account Manager For High Volume European Merchants. We connect you with a dedicated merchant account manager if you process high-volume sales. Substantial volume merchants require consistent support from the technical and billing departments. Our european payment service providers offer 24/7 support over the phone, email and chat. This extensive support model can be highly beneficial for merchants that expect massive sales every month. You must share your previous processing statement to get a high-volume merchant account in the European Union/Europe. Your last processing statement must reflect a similar sales volume you expect through the new merchant account provider.
- Bespoke Payment Solutions. Every business model may have specific requirements. For example, merchants from Industries like travel and hospitality may be asked to submit additional licences. Forex and gaming merchants must also have relevant permits to use an European high-risk merchant account. Furthermore, if the merchant sells tangible products, the merchant must have a supplier agreement. For example, merchant sells nutraceuticals. In that case, the merchant must be ready to declare the composition and source of each product.
- European Merchant Services With Virtual Terminal. Large organisations may operate inbound call centres. These inbound call centres are responsible for accepting credit and debit card transactions over the phone. Taking phone orders is impossible without using a virtual terminal or Moto panel. You will be happy to know that we may offer virtual terminals to reputed organisations. If you require a virtual terminal, you must mention this on the merchant account application form. You will also get the API documentation along with the virtual terminal. With the help of API, you can quickly code the buy now button and integrate the same into your shopping cart.
- Easy Integration Of European Merchant Account. After the approval, the European payment processor will send you a detailed guideline about the integration process of the merchant account. Most of the time, these guidelines are easy enough for any programmer. The API information will help you create custom code to embed on your website. The API will also help redirect the customer to success and failure pages. Most API guidelines will also help you accept recurring and subscription-based payments. The most common contact management system and e-commerce platforms used across the European Union or Shopify, WordPress, Joomla, and Magento. Opencart and Prestashop. For most of these platforms, our payment processors may offer readymade plugins. Integrating these plugins on your website is secure. After the integration, you can perform a test transaction. After performing a successful test transaction, you can switch the plugin to live mode and start accepting real deals.
KYC Documents For High Risk European Merchant Accounts
KYC stands for know your customer. European high-risk merchant account providers will ask for essential documents. Most of the materials that they ask for are listed below.
- Business registration certificate.
- Proof of the physical address of the company.
- Proof of the physical address of the business owners.
- Identification and address proof of all the major stakeholders in the company.
- Utility bill for the business.
- Utility bill for the directors.
- Letter of good standing from the business bank account or void check.
- Suppliers agreement in case the merchant sells tangible products.
- A business plan clearly defines the sales projection, funding source Individual KRA and organisational structure.
- Last six months processing statement if available.
- Previous year’s profit and loss statement, if available.
- Any additional licences that may be mandatory for your line of business.
European Merchant Services Website Compliance Review
This article section will mainly discuss the website compliance requirements for any European merchant account. You must review your website for these parameters to improve the chances of the approval of your merchant account.
- Make sure your website is complete and running correctly.
- Your website must have an SSL certificate to ensure data security.
- All the products that you sell should be displayed on your website. You should ensure that the product shows the correct specification and dimensions.
- A proper shipping policy is mandatory. The shipping policy should be clearly defined. The policy must mention when the product will be delivered to the customer.
- Correct pricing for each product should be mentioned on your website.
- Your website must comply with GDPR guidelines.
- Your website should not use copied content or copied images.
- The contact us page on your website must have the details of your company, phone number, email and registered address.
- The descriptor provided by your payment service provider must be visible on the essential pages of your website.
- Your website should display the correct business model. It would be best if you showed what you sell and sell what you show.
FAQ High Risk Payment Gateway In Europe
Why High-Risk European Businesses Find It Tough To Get A Euro Payment Gateway
There can be multiple reasons for a high-risk European merchant not getting a euro payment gateway. It may depend upon the personal credit score of the merchant. The merchant industry also plays a critical factor in the approval or decline of the merchant account application. Monthly sales volume and the largest ticket size can also create challenges. Our advice for managing these high-risk businesses would be to be as realistic as possible. There is no benefit in claiming a monthly sales volume that you cannot achieve. Suppose you are finding it hard to get a European merchant account. In that case, we strongly suggest you keep your monthly sales volume to a minimum. Once approved and you establish a relationship with the processor. You can further request a higher monthly sales cap. Credit card brands maintain strict guidelines for high-risk merchant accounts. Processing companies have to follow these guidelines.
At Quadrapay, we encourage merchants to use 3D secure processing solutions. With the help of 3D secure processing, merchants can reduce fraudulent transactions to a considerable percentage. European merchants need to minimise the chargeback-to-sales ratio. The chargeback ratio should never cross the prescribed limit of the processor. There are multiple ways through which high-risk merchants can reduce the chargeback ratio. A good customer service team can play a critical role in developing long-term relationships with customers. It can undoubtedly result in a low return and chargeback ratio.
Standard operation processes must be inculcated in any organisation to maintain better customer satisfaction. Customers prefer to contact the merchant before calling the card issuers. Therefore, it would be best to have multiple communication channels with your customers. Phone, Email, Chat and Web-based support are a few of the most common ways to help you establish a proper communication channel with your buyers. European high-risk merchants should also evaluate services like chargeback alerts and notifications. There are different chargeback alerts and notification companies across the globe. Some of these companies offer a 24 to 72 hours time frame in which the merchant can resolve the issue with the cardholder. Quadrapay will be happy to assist high-risk European Union merchants in connecting with these chargeback alert and notification companies.
What Is The Need For High-Risk Merchant Services?
European merchant service companies provide credit card processing solutions to businesses of different types. If your credit score is terrible, many offshore payment service providers may still onboard you. If you want to improve the chances of your approval, then your website must be complete. We have seen many applications declining just because the sites were not active. European credit card processing companies prefer to work with genuine and motivated merchants. Suppose the credit card company identifies that the merchant has got the potential to grow and is selling products that are not prohibited. In that case, there is a massive possibility of approval.
High-risk business owners must send a detailed European merchant account application to the payment service provider. This European merchant account application will help the European high-risk merchant account provider evaluate your risk profile. It will also help the payment service provider analyse your maximum ticket size, minimum ticket size and monthly sales volume. They will also be able to identify your country of registration and your customers’ traffic. European payment processing companies that we work with offer multi-currency payment processing options. With multi-currency merchant services, you can accept customer payments from different countries. As a result, you can receive payments from customers in over 75 other countries.
Using a European high-risk merchant account, you can accept credit card payments online and through the virtual terminal. Please keep in mind that not every merchant qualifies for a virtual terminal. However, if the processing company considers you a reputed organisation, they may offer you a virtual terminal. With the virtual terminal, you will be able to accept mail orders and telephone orders.
Payment processing companies are intelligent enough to understand whether the merchant’s business model is genuine.
Advice from Quadrapay about European High-Risk Merchant Account in the European Union.
As mentioned earlier in this article, we are the registered partners for various payment service providers in the European Union. Based on our experience, we would like to encourage you and especially the management of your company that you must be entirely transparent with the payment service provider. If the payment service provider asks for a rolling reserve, we suggest you accept the same. High-risk processing companies in the European Union may charge higher transaction fees. They can also ask for a rolling reserve. These parameters help the processing companies to provide you with a merchant account for a longer time. To get more details about how we can assist you in getting approved by a European high-risk merchant account and European payment gateway, send us an email at [email protected]