Features of choosing payment processing in high risk niches?

Setting up payments from various customers is always a difficult task. If the company operates in a risky industry, then it faces additional difficulties caused by the vigilance of payment companies. Most of them avoid serving such requests.

High risk refers to the increased frequency of chargebacks. Payment companies take on certain risks when processing transactions. Therefore, it is much more profitable for them to work with those companies that have a low risk of chargebacks. However, there are also such companies, for example, https://corefy.com/gambling-payment-gateway that provide services for high-risk payments. The demand for such services in the modern market is very high.

Risk factors are not an issue

An enterprise can be classified as high risk if:

• in the practice of an enterprise, it is often necessary to return money to customers;
• there is an increased possibility of credit card fraud.

A wide variety of businesses can be classified as high risk: trade in pharmaceuticals and dietary supplements, arms deals, sale of electronic cigarettes, alcohol, antiques, casinos, gaming, tourism, etc. Annual income, credit history, currency used, and even the location of a company’s headquarters can also affect a company’s classification as high risk. Even a very promising startup in its early days almost always belongs to the high-risk area.

The payment service provider has to consider this. Therefore, the high risk payment processing always takes place under very careful scrutiny of online activities and financial information. This is a compulsory measure, as service providers must take care of their own safety and reputation. The fees charged in this case are slightly higher, but customers willingly put up with such conditions, because it is rather difficult to find those willing to process high risk payments.

It is much easier for large, stable companies to organize payment processing, even if they operate in a high risk area. But even such organizations are subject to more frequent and rigorous scrutiny than low risk companies.

Today, accepting payment by card is necessary for all e-commerce companies. But for high risk businesses it is a harder task. Therefore, finding a reliable processing service provider is extremely important for them. Even high prices and commissions often do not stop them. Companies such as Corefy meet the needs of their clients and provide them with the most convenient payment processing conditions.