Stable High Risk Merchant Account in China.
Are you searching for a high risk merchant account in China? Has your local bank declined your application, stating that your profile does not meet their criteria for onboarding? If so, you’ve come to the right website. We work as a channel partner for various payment processing companies, including a few in China. Our payment processing partners are absolutely open to evaluating applications for high risk merchant account in China.
With a high risk merchant account, you will be able to accept credit and debit card payments from customers within China and outside China. This will give a competitive advantage to your company, allowing you to sell your products worldwide more effectively.
Contact QuadraPay today to get more details about how we can assist you in finding a low-cost payment processing solution for your high-risk business in China.
Features of High Risk Merchant Account In China
There are various features that make the solution extremely attractive for hard-to-place merchants in China. Let’s look at some of the key features:
High Success Ratio: If your application has been declined by traditional acquiring banks and payment processors in China, you must approach processing partners that are open to onboarding high-risk merchants. These payment processing partners provide a much better application success ratio than traditional banks.
Open to Various Industries: Many banks in China simply reject applications from various legal industries due to reputational reasons. However, if your business is legitimate, you should have the opportunity to have your application evaluated. That’s why our high-risk merchant processing partners in China are the best fit for you. Our processing partners are waiting to evaluate your application and provide you with a credit and debit card processing solution for your e-commerce website.
Stable Processing: If you obtain your account from a low-cost processing company despite knowing that your industry is high-risk, there is a high possibility that the low-risk acquiring bank will shut down your account. You don’t want that. That’s why you must work with a processing company that understands high-risk merchant processing. Our specialized processing partners offer highly stable processing for merchants like you.
Multiple payment methods are available with our solutions. You can accept credit and debit card payments from customers within China and outside China. Additionally, you can also accept alternative payment methods which are extremely popular throughout China and Hong Kong. These include WeChat, Alipay, China UnionPay, Apple Pay, JDPay, Tenpay, BestPay, and Huawei Pay.
Rates For High Risk Merchant Accounts in China:
Our processing partners evaluate each application individually and then, based on their judgment, offer pricing to the merchants. However, we can give you a tentative figure for your understanding. Generally, a local payment service provider will charge between 2% to 5% for high-risk merchant accounts.
To ensure that the processing company has enough funds to handle future chargebacks, they will implement a rolling reserve, which can be either 5% or 10% of the transaction value.
High-risk merchant account providers in China and Hong Kong generally charge a setup fee and annual fee. This is different from what you see in Europe or the United States of America. In those locations, payment processing companies mostly waive the setup fees and annual charges. However, in China and Hong Kong, high-risk processes are a little more strict in terms of charging these fees.
KYC Documents For High Risk Merchant Account in China:
The underwriting team requires you to submit a set of documents that will help gauge the level of risk involved in onboarding you as a Merchant. These documents include the business registration certificate, bank account confirmation, domain registration proof, identity proof of all directors, utility bill for the address of the company and directors, and any additional licenses that may be required as per your industry type.
Application Process For Getting A High Risk Merchant Account in China
We have made the application process extremely easy for you. All you have to do is send us your basic details initially so that we can look at your website and understand your requirements. If our team believes that you may find a solution, we will guide you about the next steps and request for the KYC documents. Once you provide the KYC documents and additional details, this information will be passed to our processing partner in China.
They will evaluate everything and based on their internal decision, they will inform you about the outcome. If your application is approved, you will receive an offer. You will then need to sign the merchant account agreement to get the logins to the gateway. Afterward, you can start the integration process and proceed with live transactions.
