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Month: July 2019

Low Risk vs High Risk Merchant Account

Low Risk vs High Risk Merchant Account

Are you a business owner and thinking of having a merchant account for online payment processing through credit/debit cards? Please go through this information before taking the next step.

There are categories of Merchant Accounts viz. High Risk Merchant Account and Low risk Merchant Account. So before you apply for merchant account you need to have proper information regarding which category your business falls in. Here we will tell you the difference between both the categories.

Apply for a Instant Approval High Risk Merchant Account

If your Business satisfies the following characteristics then you are applicable for a low risk merchant account.

  1. Less than $20,000 is processed by you in monthly period
  2. Very low preferably zero chargeback rate
  3. The country that you operate from is low-risk
  4. Average size of your ticket is less than $50
  5. Your Operations are based in low risk industry

Following Characteristics push you in High Risk Merchant Account category:

  1. If you are a Brand new business with no business history
  2. High Ticket Size and chargeback ratio
  3. Low reputation
  4. You as the owner of the business has low credit score
  5. Time limit of the service provided is very high

There is no need to worry in case your business comes under high risk category, you can always lower down the risk and become a Low Risk Merchant by reducing the ticket size to a lower prize and reduce the ratio of chargeback and prevent frauds in transactions.

The approval of low risk merchant account is quicker as compared to the approval to high risk merchant account.

In case you come across a financial institute offering Instant High Risk Merchant Account approval, stay alert as there no such term in Merchant Account Market.

Posted on July 30, 2019July 30, 2019Categories High Risk Merchant AccountTags Europe, high risk payment gateway, high-risk credit card processing, london, low risk merchant account, merchantsLeave a comment on Low Risk vs High Risk Merchant Account
5 Popular Cryptocurrency Payment Gateways For Merchant Account & Services

5 Popular Cryptocurrency Payment Gateways For Merchant Account & Services

If you are an owner of online business and still not accepting cryptocurrency payments, then you my friend are really making a big mistake, as your competitors who use cryptocurrency payment are far more ahead of you in this race, but if you wish to catch up with your competitors and beat them then right away you should start accepting the cryptocurrency payment.

But do not hurry in any process before you start accepting Cryptocurrency Payment, stick with us and we will tell you the 5 most Popular Cryptocurrency Payment Gateway for Merchant Account holders.

Apply for a Instant Approval Cryptocurrency Payment Gateway

Here are the 5 Popular Cryptocurrency Payment Gateways for Merchant Account & Services:

  1. BITPAY
    If you are a newbie and don’t understand the technology behind cryptocurrency and other stuff, Bitpay is the ideal platform for you. Bitpay presently, is the largest Cryptocurrency payment processor. It is very easy to set up and use Bitpay Payment Gateway, it is trusted gateway by big merchants like Microsoft, Virgin, Shopify, etc. Through Bitpay you can exchange Cryptocurrency into various currencies like U S Dollar, Pounds, etc, Chinese Yuan, etc. The 2-factor authentication in Bitpay helps the security of the accounts.
  2. CoinGate
    In case you want to accept various cryptocurrency other than Bitcoin, the best suggestion for you Is the CoinGate Payment Gateway. Since its launch in 2015 CoinGate is now serving over 4000 business clients and more than 75,000 registered users. Coingate is costumer oriented gateway and easy to operate for both merchant and customers. With only 1% processing fee CoinGate provides services with Magento, WooCommerce and many more.
  3. GoCoin
    GoCoin operates for Bitcoin and and provides services with comparatively lower fees of just 1% for all transactions. GoCoin pays out in US Dollar and provides integration with OSCommerce, Opencart, and more.
  4. Coinbase Commerce
    The largest Bitcoin exchange in US and payment gateway for merchants is Coinbase Commerce. Coinbase Commerce accepts different cryptocurrencies like Bitcoin, Bitcoin cash, Ethereum Classic and more than 40 countries. Coinbase is considered as one of the largest networks serving 1500+ merchants all over the world.
  5. CoinPayments
    If you wish to have a payment gateway with very low processing fees, then Coinpayments is here for you. This Canada based company is a famous altcoin gateway accepting over 1500 altcoin with as low as 0.50% processing fees. At present Coin payments is integrating with PrestaShop, Drupal Commerce and more.

So now we are all set, with help of any of the above Payment Gateway you can start accepting cryptocurrency right at this moment of time.

Posted on July 26, 2019July 26, 2019Categories Cryptocurrency Merchant AccountTags crypto merchant account, crypto merchants, cryptocurrency, cryptocurrency credit card processing, Cryptocurrency merchant account, cryptocurrency merchants, cryptocurrency payment gatewayLeave a comment on 5 Popular Cryptocurrency Payment Gateways For Merchant Account & Services
How To Get Bitcoin Merchant Account Approval?

How To Get Bitcoin Merchant Account Approval?

A bitcoin merchant account falls into the category of high-risk merchant account, and hence is difficult to obtain such account. Quite a number of banks have stopped approving BITCOIN MERCHANT ACCOUNTS due to the very high risk involved in the bitcoin industry.

Here are a few commonly asked questions answered:

How to get approval on a bitcoin merchant account?

To get your bitcoin merchant account approved you should have a proper history of payment processing. At least 6 months of payments processing history statements should be attached along with the account application as the offshore merchant account.

Apply for a Bitcoin Merchant Account

Also you need to submit a bank statement of your business account from the past six months, in case there is no business account previously, the statement of your personal bank account is also admissible. These statements are compulsory it takes 1-2 week for the account approval.

Even if you come around websites giving approval in 1-2 business days it ios nearly impossible for 99% of the bitcoin merchant account to get approval in such short span.

What types of bitcoin merchant account are available?

International Bitcoin Merchant Account

By submitting above documents along with your Identity Proof. You can get approval in maximum of 15 business days to have a International Bitcoin Merchant Account.

Domestic Bitcoin Merchant Account

There is no dealing of bitcoins in the local or domestic markets. Hence there are no Domestic Bitcoin Merchant accounts available.

Is there a payment Gateway in Bitcoin Merchant Account?

Not only for Bitcoin merchant account, but for any type of approved merchant account the approving financial institution or bank provides a secure payment gateway for safe online transactions through debit/credit cards.

Which companies accept Bitcoin?

With every passing day the number of bitcoin accepting companies is increasing.

Overstock based in Utah was the first one who started accepting bitcoins and lot of companies have followed later.

Here is a list of some major companies who have been accepting bitcoin:

  1. Amazon
  2. Ebay / Paypal
  3. Microsoft
  4. Ok Cupid
  5. WordPress
  6. Sears
  7. Las Vegas Casinos
  8. Chicago Sun Times
  9. Target
  10. Dish Network and Many more..
Posted on July 23, 2019July 23, 2019Categories Bitcoin Merchant AccountTags bitcoin, bitcoin credit card processing, Bitcoin merchant account, bitcoin merchants, bitcoin payment gateway, bitcoin payment processing, instant approval merchant accountLeave a comment on How To Get Bitcoin Merchant Account Approval?

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