We Tranxact Ltd adds new partnerships for more high risk merchants account solutions
We’re here to help High Risk Merchants
We Tranxact Ltd has been helping low and high risk merchants since our incorporation. Our goal is to offer the best merchant account solutions for businesses of all sizes from our panel or providers. We Tranxact Ltd has recently partnered with an acquirer for both domestic and international payments solutions to offer high risk merchant account with instant approval in some cases.
Finding a suitable payment solution for high risk merchants is very time consuming and demanding. Our main aim is to find a card processor that will accept that high risk merchants whilst achieving the best rates possible, but this is most of the time very challenging. Most of the mainstream UK acquiring banks will not entertain the typical high risk merchants and therefore these high risk merchants miss out on the typical card rates available, which are usually below the 1% rate on debit card and are then being forced to pay anything up to 15% per card transaction in the worst case. I feel its our duty to find the acquiring banking partners that embrace high risk merchants. Merchant banks that welcome high risk merchants are out there, and we’re consistently finding them.
So What’s So Good About These New Partnerships?
From domestic and international solutions, e-commerce, mail order and telephone order and chip and pin options and diverse high risk industries, our new merchant account solution comes with many benefits.
Merchant Account Solutions For High Risk Industries
Our new domestic and offshore banking partnerships has solutions for a number of high risk industries that must be UK registered. We are open to accepting applications for high risk merchants on a case-by-case basis such as:
- Adult Sites:
The following will need to appear on the merchant’s website for approval:1.An age restriction disclaimer must be the first page on the website2.The website must have a link to their compliance with 18 U.S. Code 2257 regulations3.Terms of Service4.Privacy Policy5.Refund Policy6.Business contact details (Registered business name, business address, business phone #, etc.)7.Sales page with listed items and their prices
- Charities:
The following will need to appear on the merchant’s website for approval:1.Terms of Service2.Refund Policy3.Privacy Policy4.Business contact details (Registered business name, business address, business phone number,business email, etc)5.Assurance that all donors are provided with a receipt of charitable donationThe following must be provided by the merchant:1.Copy of photo ID of charity registrant2.Copy of proof of address of charity registrant3.Declaration of board of directors that control 25% or more of the organization (name, address,role)4.Copy of document of registration and Charity registration number in the native registeringcountry
- Cryptocurrencies:
The following will need to appear on the merchant’s website for approval:1.Terms of Service2.Refund Policy3.Privacy Policy4.Business contact details (Registered business name, business address, business phone number,business email, etc)5.Sales page with listed items and their prices6.Delivery information (methods of delivery, estimated timeframes of delivery)The following information will need to be provided by the merchant prior to website review:1.Is the business; a corporation, a partnership or sole proprietorship?2.How many years have you been in business?3.What is the monthly processing volume?4.What is the average transaction size?5.Do you have previous processing history?6.Please provide a brief a summary of your processes such as time frames for deposit andwithdraw and rates.7.Please advise which countries your services are the strongest and where you offer any localtransfer services if you do.
- Dating Sites:
The following will need to appear on the merchant’s website for approval:1.It is IMPERATIVE that there are no bots running on the site. Any indication of bots is an instantdecline of the website2.Terms of Service3.Privacy Policy4.Refund Policy5.Business contact details (Registered business name, business address, business phone #, etc.)6.Sales page with listed items and their prices
- E-Cigarettes / E-Juice:
The following will need to appear on the merchant’s website for approval:1.Terms of Service2.Refund Policy3.Privacy Policy4.Business contact details (Registered business name, business address, business phone number,business email, etc)5.Sales page with listed items and their prices6.Delivery information (methods of delivery, estimated timeframes of delivery)The following must be ensured before approving the website:1.Merchant must not be a business registered in Quebec or any area where sale of this product isprohibited/heavily regulated2.Tobacco products must not be available for sale (Tobacco “flavor” e-juice allowed)3.Liquid nicotine must not be available for sale (Allowed if already mixed in with pre-made e-juice)
- Remote Technical Support Services (RTSS):
The following will need to appear on the merchant’s website before approval:1.It is IMPERATIVE that there is no outbound support provided. If the business relies only onoutbound support the website will be declined.2.Terms of Service3.Privacy Policy4.Refund Policy5.Business contact details (Registered business name, business address, business phone #, etc.)6.Sales page with listed items and their prices
- Nutraceuticals:
The following will need to appear on the merchant’s website for approval:1.Terms of Service2.Refund Policy3.Privacy Policy4.Business contact details (Registered business name, business address, business phone number,business email, etc)5.Sales page with listed items and their prices6.Delivery information (methods of delivery, estimated time frames of delivery)7. GMP Certification8.List of ingredients (active) in the products and their suggested serving sizes9.No subscription model (auto ship terms needs be specified at checkout)10.IMPORTANT: CBD products MUST NOT contain any THC. If any of the merchant’s productscontain THC, they must be removed from the website before approval.
We Tranxact Ltd have had enormous success with claims management companies, especially PPI claims businesses. Although we do not class them as high risk as refunds and chargebacks tend be next to 0, the banks still do and we have to go with what the banks label them as. We’re typically saving these PPI claims management businesses anything up to 80% on their card processing rates. Not only can we substantially reduce their card processing costs but also offer alternative ways to capture card details without heavily relying on collections staff to do so, thus reducing time, hassle, staff costs and increasing collection conversion rates.
Merchant Account Solutions With A No Nonsense Approach
High Risk merchant account services is becoming a very shady profession. I’ve noticed over time, that their are many middlemen involved that are taking a small piece of the pie and benefiting financially, whilst the merchants are left paying ridiculously high card processing rates.
We aim to be as transparent as possible and we will do our very best as possible to find the merchant the best solution to fit their business needs, whilst keeping you updated throughout the whole process.
feel free to contact us on 0121 792 5367 or info@wetranxact.co.uk
