High-Risk Merchant Service Providers In UK
Are you a UK based merchant? Are you doing high-risk businesses like CBD, online dating, online gaming, adult entertainment or whatever it maybe? Now, no more challenges to getting a high-risk merchant account in the UK. Most of the high-risk businesses find it challenging to choose the right processor and end up wasting a lot of their hard-earned money. Well, this is not with us. We have partnered with the global payment processors to streamline the process and find the right High-risk Merchant Service Providers in the UK. Quadrapay understands the high-risk merchants, and our approval rate is 99% of all the applicant merchants. The thing matter is your genuineness, and whether you are doing a legal business under state and federal laws.
What Businesses Are Considered As High Risk By Merchant Service Provider In UK
Some businesses are classified as high risk by the merchant service providers. Processors Flagg these industries based on several factors like average monthly sales volume, chargeback ratio or merchant’s credit history. Let’s have a view at some of the high-risk industries:
- The Adult Industry
- Advertising Services
- Affiliate Marketing
- Airline, Travel Industry or Lodging
- Automotive Brokers
- Casinos, Gambling or Gaming
- CBD Oil
- Credit Repair and Monitoring
- Online Dating Sites
- File Sharing
- Firearm Sales
- Horoscopes, Astrology or Fortune Tellers
- ICO Merchant Service
- International Shipping, Cargo, or Import/Export
- IPTV Services
- Multi-Level Marketing (MLM)
- Pet Sales and Accessories
- Technical Support, Web Development, SEO or Hosting
- VoIP Services
- VPN Services
Do You Really Require High-Risk Merchant Service Provider In The UK?
If you are one of the merchants involved in high-risk industries, then you really need a high-risk merchant account. The acquiring bank or processor Flagg these industries as high-risk, and usually, the processing fees are higher than those of standard or low-risk merchant accounts. Not only this, the merchant service provider mas ask you for rolling reserve which act as a protection measure for acquiring banks.let’s see the reasons for a business being considered as high risk:
- High-Risk Industries: The very first reason for your business is considered as high risk that the industry you are working is flagged as high-risk.
High average monthly sales volume: If your average monthly sales volume is high or more than the threshold value set by the payment processor, then you are doing a high-risk business. Some processors set the threshold value as $20,000. If your average monthly sales volume is higher than this, you are flagged as a high-risk merchant.
- High Chargeback Ratio: If chargeback ratio is greater than 1% or more, you are flagged as high-risk. It is recommended to keep your chargeback ratio lower than 0.9%. To know how to mitigate chargebacks, follow our guide on credit card chargeback.
- Multi-currency Accepted: If your business is accepting multiple currencies from foreign countries, or you have your business in more than one countries, you require a multi-currency gateway solution.
- Recurring Billing Feature: The businesses who offer recurring billing features or your business is based on a subscription business model, then you need a high-risk merchant account because subscription-based businesses are considered as high risk.
- Merchant On The MATCH List: If your businesses are listed under MATCH list, processor screens your businesses during the underwriting process as high risk.
- Poor Credit Card History: The businesses with a poor credit history or your credit history may contain a lot of chargebacks, then you are a risk-oriented business for the processors.
Quadrapay Offers Multi-Feature High-Risk Merchant Account.
- Multi-currency Processing
- Fraud Prevention Features
- Seller Protection Features
- eCommerce Payment Gateway
- International Merchant Services.
- Affordable Rates.
- Virtual Terminal
- Recurring Merchant Services
- PCI Compliant
- 24×7 Customer Support.
Quadrapay offers High-risk merchant account service at affordable rates. We are specialised in high-risk merchant services and know what suits your business. Apply Today!
Get in touch with us at [email protected]