The high-risk industry requires a high-risk payment gateway and a merchant account for online payments. These high-risk payment processing channels need to mitigate the risks to process the payments securely. However, the high-risk sector contains immense risks that can affect the payment gateway as well.
Thus, a payment service provider needs to be well aware of the risks in the sector and should know the tools to tackle the threats. A high-risk payment gateway can help your business to perform better concerning the payment experience. It will strengthen a company’s payment processing capabilities.
Tackling the Risks with a Payment Gateway
The risk factors in these industries range from frauds to chargebacks. Therefore, expertise in the field is crucial.
- P2PE: The point-to-point encryption changes sensitive information to non-sensitive information. Therefore it allows a safe transfer of payments. The channel remains encrypted from one point to another to ensure maximum security while the money is transacted.
- Tokenization: The process of converting the transaction data to a piece of non-sensitive data is known as tokenization. A token is provided to the consumers for the encrypted data. Whenever the token is entered, the data changes to readable information.
Tokenization works best with the Global card Saving feature of the High-Risk Payment Gateway. There are just a handful of service providers that have the global card saving feature. It is a feature that requires expertise to handle.
- PCI Compliance: Your business needs to get PCI Compliance from the payment service provider. It is always charged according to the level, where level 1 represents the top tier security with load limit. PCI Compliant Level 1 Payment Gateway ensures that the payment channel is well encrypted through the transaction.
Therefore, you need to seek a payment service provider with PCI compliance as an add-on feature. It will add to the payment experience for the consumers.
- Fraud Prevention Tools: Multiple fraud prevention tools in the market help your business to catch the fraudsters. One of the essential parameters of classifying an industry as high-risk is the number of frauds. Therefore, the company needs to keep a check on the scammers. AVS, Fraud Scoring, CVV checker, and Device ID are some of the Anti-Fraud Tools for your business.
- Type of Payment Gateway: There are two types of payment gateway. 3D Payment Gateway and Non-3D Payment Gateway are the two types of payment gateway. The 3-D Payment Gateway is the most secure payment processing channel with a third layer of protection. It generates the OTP that you need to enter to authenticate the payment process. It adds to the security check of the consumers and provides a safer transfer of funds. On the other hand, the Non-3D Payment Gateway provides the speed of transactions. It completely removes the wait for entering the OTP and authenticates the payment without it. Therefore, it will be a huge benefit to the industry that is looking for the speed of payment.
- Mitigating the Chargeback Risks: The high-risk industry faces a lot of chargebacks. Therefore, your high-risk business needs a payment processing channel with a powerful dashboard. It will allow you to access the chargebacks from a single window. You can automate the responses or critically review the chargeback to respond to them. Reducing the chargeback ratio for your business is essential as you need feasibility in the market.
eMerchantPro’s Offer for Your Business
eMerchantPro’s Payment Processing Channel is tailored for high-risk businesses. In other words, we provide solutions to the industries that fall under the high-risk sector. Ranging from eCommerce to Adult Toys, many companies require a High-Risk Payment Gateway for their business. However, due to their risk factor and specific parameters, they are denied a payment gateway by the conventional service providers.
eMerchantPro comes to the rescue for these merchants. We provide a secure payment processing channel with loads of features for the merchants. These features allow the merchants to offer the best payment experience to the consumers. Moreover, getting a high-risk payment gateway lets you process payments on your website. Do remember, all of these are the security features that a payment gateway provides.
What does your high-risk business need?
When you take your business online, you need to accept the payments to your acquiring bank readily. However, due to specific parameters, many service providers deny services to you. Thus, eMerchantPro comes into the picture to help your business. We provide a payment gateway service to these industries. Moreover, there is a list of features that we have for your business as well.
These features will provide you an edge over the other businesses in the sector. Providing convenience to the consumers will be a reward with loyalty. Last but not least, we have a dedicated team of experts to look at every need of the merchants. Our clientele is vast, with an array of industries covered. It will help your business to reach a bigger audience at a minimal time.
Get in touch with us and get a personalized solution for your business today. We will provide a secure High-Risk Payment Gateway for your business with affordability in mind.