High Risk Payment Gateways

A merchant gateway can open your business up to a broad range of new clients. An experienced high risk payment gateway provider, EthosPay uses the latest technology, design, and security in our online payment gateway services to ensure your business and clients are protected at all times. See what you’ve been missing with our high risk payment gateway solutions which are custom tailored for your business.

payment gateway merchant solutions

During the online payment process, clients move through the payment gateway to complete their transaction. A person’s interaction with an online payment gateway can have a huge effect on customer satisfaction and even the completion of the transaction.

If a client runs into any errors or problems during the payment process, they could abandon the cart and lose trust in your business completely. This not only affects the current sale, but also any potential future sales from that client. For this reason, choosing an effective and simple payment gateway is absolutely essential.

There are many different payment gateway providers offering a broad range of processing services which can make it extremely difficult to know which one is best suited to your business. Understanding the customer experience, what a payment gateway actually does, and how it can affect your business is essential knowledge when choosing an online payment gateway to accept payments from your clients.

A usable and secure payment gateway can greatly increase customer satisfaction when making payments to your company. However, a poor gateway will cause frustrations, abandoned carts, and a loss in reputation for your business.

What is a Payment Gateway?

A payment gateway provides businesses with the ability to accept payments in a wide range of payment options and in multiple currencies. For instance, using a simple payment gateway would allow you to offer credit and debit card, and other types of cashless payments options to your customers.

More advanced merchant gateway options can help you set up recurring payments and offer many other features. Once a payment has been made by a client, it is held in a merchant bank account for a period of time before it is then transferred into your business bank account. Therefore a merchant bank account and a merchant gateway go hand in hand.

The gateway acts as a tool that the client interacts with when making a payment. It displays a secure page where the customer can enter their card details and then accepts or rejects the payment using an online transaction. There are also high risk merchant payment gateway options which allow a client to enter their personal data securely before it is passed on to the business and the bank.

Without a payment gateway, businesses cannot accept payments from MasterCard, Visa, American Express, and multiple other credit card or debit card issuers. Therefore, for any business that wishes to offer these convenient payment methods to their clients, a gateway is essential.

How an Online Payment Gateway Works

The gateway is like the face of the business which clients see when they make a purchase, however, there are many background processes taking place to start processing the sale. Between the time a customer enters and submits their personal information in a credit card gateway to the acceptance or rejection of a transaction, the following takes place:

  1. A client wants to make a credit card purchase and enter their personal details into your businesses payment gateway.
  2. The information entered is SSL-encrypted and sent to the merchant’s web server.
  3. The information is encrypted again and sent to the issuing bank’s server.
  4. The issuing bank then sends the information to the credit card company who lets the acquiring bank know if the transaction has been accepted or rejected.
  5. The issuing bank relays that information back to the merchant payment gateway which informs the customer of the authorization from their transaction.

Depending on which gateway provider your business uses, the client could experience almost instant approval for their purchase or have to wait up to two or three minutes for the result of their purchase. If your payment processing time is lengthy, it could lead to frustration from the client and even cause chargebacks or other issues.

The best credit card payment gateways work quickly with a user-friendly interface. Clients want a simple payment process and choosing the right issuing bank could play a big role in the time it takes to accept payments.

Advantages of a High risk Merchant Payment Gateway

While it may seem like a straightforward and easy process to apply for a payment gateway from a bank, it is in fact quite challenging. Banks can require your business to meet excessive criteria and neglect many industries which they consider as high risk. Businesses which have high ticket sales and a history of chargebacks will also find it difficult to get a gateway from a traditional bank.

The option for these businesses is a high risk merchant payment gateway. It is the easiest way for such companies to offer their clients a range of convenient payment methods and multiple currency payment processing for international customers. There are additional options such as using an international merchant account or offshore merchant account to manage your payments from abroad.

The key advantages of using a high risk payment gateway are the ease and convenience of setup, a modern interface, and detailed reporting systems. If your business is setting up online payments, you want to start accepting them as quickly as possible. A high risk merchant can use our service to start processing credit card transactions in as little as 72 hours.

The interface of the gateway is also essential and something which can provide a big advantage for your business if done correctly. Some payment gateways, such as PayPal redirect clients away from your website leaving you out of control for the payment process. However, a modern, well-designed payment gateway on your platform keeps clients on your website and can increase trust and add-on sales.

Also, a detailed reporting system is essential for catching any potential fraudulent transactions or chargebacks before they occur. Having access to customized and detailed reports from your gateway is a huge advantage for high risk merchants. All of these combine to provide a smooth transaction experience for your clients, fast approval for transactions, and easy analysis of sales for your business.

Additionally, monthly fees for accepting online payments will gradually decrease as your business improves its trust with the issuing bank. This is a massive advantage as it can lead to greatly improved profit margins over time. High risk merchants can qualify for instant approval payment gateway services and start processing credit card and other transactions almost immediately.

3 Features in the Best Payment Gateways

The best payment gateways will offer businesses a range of options and services to enhance their ability to accept payments from their clients. There are three fundamental features that any merchant should consider when using a credit card payment gateway:

  • Security and protection against fraud. This is the foundation of any successful business and using a payment gateway which offers the latest security and anti-fraud technology is essential. A breach of any kind into your client’s personal data could be disastrous for your company. Therefore, you should prioritize security when using payment gateway services.
  • User-Friendly. Your customers will come face-to-face with your merchant gateway every time they make a purchase on your website or platform. It is essential that the portal is easy to use and understandable without too many steps or unnecessary details. Keep the theme to match your website so it feels like the client is not being redirected somewhere else which may cause panic.
  • Rates and Fees. Monthly fees are part of a high risk payment gateway, but it is important to make sure you get the best deal for your company. Try to find a balance between the services and features offered by your payment gateway and the monthly fees associated with the account.

How to Get an Instant Approval Payment Gateway with EthosPay

EthosPay has developed a simple payment gateway that combines usability, design, security, and competitive monthly fees. With our gateway you can easily set up recurring payments for goods or services, accept multiple currencies, provide fast credit card processing for your clients, and bring online payments to your business.

We provide you with an expert to help set up and get your payment gateway working as quickly as possible. With pre-approval within 24 hours and complete set up within 72 hours, you will see how offering a range of payment options to your clients improves your profit margins right away.

EthosPay cates to all businesses of any size and in any industry. Our application process is fast and straightforward with an expert to help you with any questions for the duration of your application and throughout setup.

We are fully dedicated to educating and assisting high risk businesses in all aspects of online payments and have a detailed library of guides and materials to ensure your business is a continuing success. See our guides section for more information.

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High Risk Merchant Services by EthosPay

Being in the high risk processing industry for 10+ years gives us the ability to offer our clients the best high risk merchant services and payment processing options.

  • Detail Transaction Reports
  • Chargeback Alerts System
  • Secure Payment Gateways
  • CRM Integration
  • Alternative Pay Solutions
  • Virtual Terminal
  • Chargeback Prevention Help
  • Multi-Processor Management
  • Debit Payment Processing
  • US Domestic MID's
  • Echeck Services
  • Advanced Fraud Scrubbing
  • Multi Currency Settlement
  • Secure Payment Pages
  • Offshore MID’s
  • In-depth Transaction Reports
  • ACH - Check21
  • API integration

Start accepting popular card payment methods for your high risk business within 72 hours.

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