Instabill Introducing More Solutions Perfect for High Risk Merchants

Instabill Introducing More Solutions Perfect for High Risk Merchants

Through a longstanding partner, Instabill is announcing five new payment solutions for high risk merchants through European, UK, African and Latin American acquiring banks. Each solution offers several benefits and resources for many high risk industries.

At a tradeshow roughly a year ago, a featured speaker mentioned that the way to get forward in the payments industry – i.e., to break into new markets – is to establish partnerships with other acquiring banks, PSPs and ISOs. That has always been our approach here at Instabill, whether it be finding a high risk solution for a competitor (and splitting the revenue), or partnering with an acquirer to make inroads to a burgeoning region.

About our African Solution

Through our new acquiring banking partner in Africa, this solution will appeal to high risk merchants with imperfect credit, high chargebacks and/or those once MATCH listed. Benefits include a 3D secure and non-3D secure merchant account, payment and settlement in US dollars or Euros and no cross border registration. The caveats include:

  • Minimum settlement 3,000 USD/Euro per week
  • 10 percent rolling reserve over 180 days
  • Monthly volume caps decided on a per case basis
  • Billing descriptor with vital details to prevent chargebacks

Our Eastern European solution: High volume merchants take note

Our new Eastern European banking partnership caters nicely to those merchants with high volume issues as it features unlimited volume caps with a monthly processing minimum of $150,000. Other stipulations include:

  • Incorporating the business in Eastern Europe
  • Eastern European bank account
  • 10 percent/six month rolling reserve (or agreeable arrangement)

Our New U.K. and European Acquirers: Emphasis on Chargeback Mitigation and KYC

Heading into the holiday shopping season, where various forms of credit card fraud run rife, our new acquiring banking partners in Europe and the U.K. are providing a solution and payment gateway while helping high risk merchants be proactive against chargebacks. Among the requirements for this new solution includes:

  • Having a full suite of anti-fraud tools, particularly those that cover geolocation, customer identification, device monitoring and systems covering transaction scrubbing.
  • Third-party chargeback mitigation services with an early alert scheme.
  • Chargeback rate no higher than 2 percent (a 1 percent benchmark is preferred).
  • 3D secure merchant account preferred unless other arrangement agreed upon
  • Billing descriptor with direct merchant contact information and website URL

Like many high risk solutions, our UK acquirer is imposing a 10 percent rolling reserve over 180 days as well as a $500,000 per month revenue cap (though multiple MIDs can be established at anytime). Moreover, this U.K. acquirer requires 3-6 months of processing statements (all applications will be pre-vetted before KYC compliance is required) and startup businesses will be considered on a case-by-case basis.

Our LATAM Solution: Mobile Wallet and mPOS friendly

Our new LATAM banking partnership is geared toward online pharmacies and features no revenue caps (but limited processing volume) and settlements through all major currencies. In addition:

  • Merchants are required to register within the European Union.
  • Merchants must open a bank account with an EU bank.
  • Three months of banking and processing statements required.
  • 10 percent rolling reserve over 180 days.
  • Billing descriptor must contain merchant’s name.

The Best Support for High Risk Merchants

At Instabill, we are of the old school: We prefer direct contact with merchants and partners. By telephoning our Portsmouth, NH, USA headquarters (1-800-530-2444), merchants can discuss their needs with one of our expert merchant account managers. We don’t just get high risk merchants processing transactions; we remain as consultants for the life of your merchant account with Instabill.

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