An increasing number of businesses are being put at risk as a result of fraud, chargebacks, and financial failure. These merchants are battling to obtain a merchant account with all of the benefits that will propel them to success. However, because they are high risk merchants, they are subject to a high risk merchant account.
Many merchants have been turned down for a high risk merchant account due to a high number of chargebacks in their payment history. Banks are hesitant to work with such high-risk merchants. Many merchants wonder if there is a no chargeback payment gateway that would make things easier for them.
High risk merchants include online dating, online pharmacies, travel, online gambling, gaming, forex, and many others. Due to high chargebacks, high volume transactions, and the possibility of online fraud, these businesses are more likely to fail financially in the future. However, financial institutions now consider all e-commerce businesses to be high risk.
These high risk merchants are liable to high risk merchant account with all benefits like high risk payment gateway and other high risk merchant services. The chargebacks are the return of money to a customer especially in credit card transaction.
What is a no chargeback payment gateway?
A no chargeback payment gateway is a simple and easy bank transfer. When it comes to high-risk merchant accounts, it is thought to be the most efficient. A merchant only needs to add the bank transfer option to their website to take advantage of this option. This eliminates the possibility of online fraud in credit card transactions.
When this is added to the website, and the customer chooses to go with a bank-to-bank transfer, the customer does not need to enter any financial information into the merchant’s payment portal. This reduces the possibility of chargebacks.
It is as simple as a cash transaction; a customer simply selects their bank from a list on the merchant’s payment page. After selecting a bank and approving the transaction, funds are transferred from the customer’s account to the merchant’s account.
This transaction only requires the customer’s account number after selecting the bank. Unlike other payment methods, it does not require any confidential information. This appears to be more convenient for customers who want a safe and secure transaction as well.
This payment gateway solution is the only one that offers secure real-time transactions and ensures the smooth transfer of funds from a customer’s account to a high-risk merchant account.
Benefits of no chargeback payment gateway solution-
- No chargebacks– Here in no chargeback payment gateway, the transactions are like cash and this totally eliminates the chances of chargebacks.
- Final settlements are quick– because it is a bank transfer; the funds are transferred to the merchant’s bank account in a short period of time. This shortens the transaction time, and the merchant does not have to wait as long to receive its money.
- No high volume– Because there is no risk of chargebacks, merchants can process as many transactions as they want. This increases their sales volume while eliminating the need for an extra layer of security payment gateway solution.
- The greatest of all– For high-risk merchants, this payment method is the best of the best. As a result, they do not need to expend any additional effort to ensure payment security, and customers are also very satisfied.
- Fast approval– It is extremely simple for high risk merchant account owners to obtain approval for this payment gateway solution. The no chargeback payment gateway takes very little time and only a few days to be approved.
- Happy Buyers– Although online payments are becoming more popular, many customers and buyers still prefer not to use their credit or debit cards to make purchases. This no chargeback payment gateway solution is ideal for customers who are hesitant to share their personal card information on a merchant’s website.
- Avoiding reserves– In online payments, money is often held in fund reserves, whereas in this payment solution, merchants receive their funds and payments directly, with no reserves.
As a result, purchasing goods and services through a no chargeback payment gateway does not necessitate a customer entering his debit or credit card information or logging in. If a merchant includes a bank transfer option on his website, it makes it easier for customers to pay as well as merchants to avoid all potential chargebacks.
Businesses that are benefitted from this payment gateway solution
High risk merchants experience the most chargebacks and fraud. As a result, they are unable to obtain a high risk merchant account or payment processing services. As a result, banks and other financial institutions are already refusing to accept them. As a result, high-risk merchants are the only ones who benefit from such payment gateway solutions.
Furthermore, the majority of customers still does not believe in paying with a credit or debit card and are perfectly content with a non-chargeback payment gateway. Online gaming, gambling, travel industry, online clothing, software selling, adult toys, and many more are examples of high risk merchants.
This payment gateway is beneficial to all types of merchants, but it is especially beneficial to those who own high-risk merchant accounts. This payment gateway solution is becoming more popular due to its user-friendliness and a variety of other advantages.
Eskaypay as Payment Gateway Solution Provider
We take care of our customers so that they receive the best service possible. Our clients are merchants who are tired of appealing for merchant services. We make certain that no client is left with a loss. It is simple to obtain our high risk merchant account and no chargeback payment gateway. If you are a high-risk merchant who is tired of dealing with chargebacks from credit or debit card payments, we can assist you.
We will reduce your chargeback ratio to zero, resulting in increased profit and success in your business operations. Get in touch with us right away if you want to learn more. We are the experts!!
Features of ePay Global online Payment Gateway
- Fastest approval
- Easy to get statement.
- Multiple Currency
- Secure, reliable fast Gateway
- Real time transactions
- Account review on every 90 days
- For long time business
- Complete assistance for merchants
- Dedicated M.ID for merchants
- Processor Flexibility
Benefits of Merchant Account in UK
- Increase your approved transaction rate
- Give boost to your payment success rate
- Fraud and risk control
- Highly secured transaction
- Multilingual page & responsive web design
- Multiple payment option
- Simple and convenient checkout for your customers
- Shopping cart support
- Extremely affordable pricing
- Speedup the VIP customer by storing data securely
- Integrate with other channels such as websites, IVR, mobile device
- Supports customer dispute
Requirement for Merchant Account Application in UK
- A fully functional website
- Toll free With IVR greeting of Company
- SSL Certificate on your website
- Proper description of products
- Product pricing details
- Services details
- Shipping details
- Terms and Conditions
- Refund Policy
- Return Policy
- Privacy Policy
- A registered company with Govt. Body
- Business Bank Account Under Company Name
These will help you to get approved by almost every processor.