Digital Payments for Global Businesses

High-risk businesses face a greater likelihood of chargebacks, fraud, or regulatory issues. Specialized high-risk merchant accounts offer tailored solutions to manage these risks and provide payment-processing services to businesses that might otherwise struggle to find payment solutions. We may be able to help you.

Several factors determine whether a business is considered high-risk, including the industry, credit history, processing history, and potential for chargebacks. To determine if your business qualifies, it’s best to consult with a high-risk merchant account representative who can assess your specific situation today.

While requirements may vary state to state, common things include business registration certificates, government-issued identification, bank statements, processing statements (if applicable), voided checks, and a description of your products or services. Federal laws must be followed at all times.

The approval process varies depending on the provider and the completeness of your application. It can range from a few days to a couple of weeks. To expedite the process, ensure that you submit all the required documents and provide accurate information during the application. Stay in touch with your onboarding representative.

High-risk merchant accounts often come with higher fees than traditional accounts due to the increased risks involved. Common fees include application/setup fees, transaction fees, chargeback fees, and monthly service fees. It’s essential to review the fee structure to understand the costs associated with your account. Ask us how it works.

Implementing robust fraud prevention measures is crucial. This can include using Address Verification System (AVS), Card Verification Value (CVV) checks, employing advanced fraud detection tools, and maintaining clear communication with customers to address concerns promptly. It’s also essential to have a transparent refund policy and clearly communicate it to customers.

Yes, many high-risk merchant account providers offer international payment processing solutions. They can help you accept payments in various currencies and provide solutions to manage currency conversion and mitigate risks associated with international transactions.

When selecting a high-risk merchant account provider, consider factors such as their experience in serving your industry, reputation, customer support quality, pricing structure, and the range of services they offer.

Yes, it is possible to switch from a traditional merchant account to a high-risk merchant account. However, it’s important to understand any contractual obligations or potential penalties associated with terminating your existing account. Consult with both your current and prospective merchant account providers to navigate the transition smoothly.

Plan B Payment Processing has a proprietary Gateway that is connected to over two dozen Acquiring banks and Processors.  It is important for a payment processor to be connected to many acquiring banks and processors because it helps to ensure the reliability of their payment processing services. By having multiple connections, the payment processor can route transactions through the most effective channel, helping to minimize processing delays and reduce the risk of transaction failures. Additionally, having multiple connections allows the payment processor to offer a wider range of payment options to merchants, enabling them to reach a larger customer base. Finally, multiple connections help to mitigate risks associated with reliance on a single acquiring bank, as diversification reduces the risk of any one bank’s failure impacting the entire payment processing operation. Overall, the ability to connect with many acquiring banks and processors is an important factor in a payment processor’s ability to deliver reliable, efficient payment processing services to merchants.

Plan B is able to support all types of high risk businesses, whether Unlicensed or Licensed Gaming, Forex, Adult, Nutra and many others, Plan B will find a home for your business. It is unlikely that a high-risk merchant account payment processor will provide an account for your business if you do not have a license, however, there are options available to explore. High-risk merchant accounts typically require businesses to have proper licensing, permits, and certifications in order to operate legally. This is particularly true in industries such as online gaming and gambling, where there are strict regulations around licensure and compliance. If your business is not properly licensed, it may be considered too high risk for payment processors to work with, as it could put them at risk of violating laws and regulations. Therefore, it is important to obtain any necessary licenses and permits before seeking a high-risk merchant account.

Plan B is fully integrated directly with multiple Crypto Exchanges that allows Plan B merchants to send and receive settlements in any type of Crypto rather than just Fiat. Yes, it can be a big benefit if your merchant account payment processor is connected to multiple crypto exchanges that allow settlements to be sent and received in cryptocurrency. This can be particularly beneficial for businesses that operate in the cryptocurrency industry, as it allows them to seamlessly convert their earnings from cryptocurrency transactions into other cryptocurrencies or fiat currency. It also helps to reduce the need for additional currency exchange fees and can streamline the settlement process for merchants. Additionally, having access to multiple crypto exchanges can help merchants take advantage of market conditions and find the best exchange rates for their needs. Overall, having a payment processor that is connected to multiple crypto exchanges can provide greater flexibility and efficiency for merchants in the cryptocurrency industry.