While Surfing the internet we found a question on a Forum.

The question was asked by a merchant who sells skin care products and wanted to find a processor that is reliable. We answered but for some strange reason, the forum did not make our response public. There may be a possibility that the AI on the forums IT infrastructure did not like us or may be the forum owners are protectionist in some way.

Any ways this was our response and I hope this will help many

Good Day and thanks for the question.

As far as I understand you are looking forward to find a reliable payment processing company that will allow you to accept transaction for the below-mentioned products

  • Print on Designs
  • Gadgets
  • Home Decoration
  • Beauty

Out of the 4 above-mentioned products, the only high-risk product I can think of is Beauty. The reason being that people apply beauty products on their skin. A wrong composition can damage the skin and in return, the buyer can sue the seller.

The buyer’s step will not only affect the seller but will affect all the parties involved in the financial transaction as they collectively provided the structure of the transaction.

Does that mean you have no options?

The Answer is No. You still can find processors that are interested in onboarding merchants from high-risk industries. The processors may ask for the composition and also may ask for the supplier’s agreement. The skin care product that you sell should not be listed on the FDA Controlled medicines scheduled list.

How to find a secure Payment Processor?

You need to look at a couple of things before starting to process.

  • Find out what is the reputation of the processor. There are many PSP sharks in the market and there is not anything as disappointing as when the PSP just stops responding to the merchant’s email, skype, and phone call. (This actually happened to a merchant whom I later helped in getting connected with a UK based PSP. The PSP shark which did that is from Malta. Can’t take the name as I believe in karma and they will disappear soon)
  • Think twice when a high-risk Merchant Account provider says yes very quick. They are probably doing transaction laundering and it is a criminal offense
  • Verify with the PSP about the descriptor. The descriptor should have your company name, website name or phone number (any one).This is the term that will appear in on the billing statement of the customer. It helps in reducing friendly chargeback.
  • Find out what are the values defined in your account and always maintain it.
  1. Maximum Ticket size
  2. Minimum Ticket Size
  3. Monthly and Weekly sales projection
  4. Monthly Sales Volume allowed (Max)
  5. Type of card brands and Currencies allowed
  6. Max Chargeback Ratio
  7. Max Return Ratio
  8. Integration possibility with Chargeback alert or CDRN providers.

The above suggestions should help you to identify the best payment processing partner for your company

Suggested Readings

What is a High-Risk Merchant Account?

Visa Global Registry of Service Providers

Hope this helps

Happy Processing!

Last word … “Stay away from PSP Sharks”