In its continuous mission to find the best payment processing solutions for e-commerce merchants worldwide, Instabill has recently forged two partnerships:
- One partnership can enable for anonymous payment solutions for high risk industries.
- We’ve added a payment processing solution for an abundance of high risk, hard-to-place businesses.
As a high risk payment solutions provider since 2001, Instabill is committed to broadening its network of domestic, international and offshore acquiring banks to offer the best options to online merchants.
Our latest partnerships underscore our commitment to merchants classified as high risk.
Anonymous payment solutions: An innovative alternative for merchants
Certainly one of the most exciting solutions compared to traditional methods we’ve acquired, Instabill can now offer a payment processing alternative that involves easy, anonymous payment via gift cards for high risk businesses. Here is how it works:
- Merchants place the widget of our partner on their checkout screen.
- The customer clicks on the widget and is directed to buy a gift card (such as Amazon, Apple Store, Target or Walmart).
- The customer purchases the gift card for the needed amount and submits the gift card payment through the widget by entering the card number and pin.
- The merchant receives payout in either cryptocurrency or an ACH transfer (there is a 48-hour funding time).
Who benefits from our gift card solution?
Instabill’s new gift card solution is an ideal form of payment for several consumer types:
Consumers who prefer to make an anonymous payment: Consumers in the industries of online dating, pharmaceuticals, adult and gambling, often wish to keep their transactions private.
The highest of high risk merchants: For merchants who have difficulty getting an approval for a merchant account to accept credit card payments, our gift card solution is a viable alternative.
Consumers without a bank account: In the U.S., there is an estimated 70 million consumers who are unbanked, who have no access to credit or debit cards. Our new offering gives merchants the chance to appeal to those very consumers without access to a bank account.
High chargeback merchants: For merchants who struggle with the high frequency of chargebacks, our gift card solution can lower those rates.
New international solution: High risk industries accepted
Through an international banking partner, Instabill can offer an alternative payment processing solution for merchants of industries that are traditionally difficult to place. Among the industries our solution welcomes includes:
- CBD and hemp
- Online dating
- Online gaming
- Online pharmacy
- Vaping and e-cigarettes
While this solution caters to high risk industries, it also comes with several caveats:
- At this time, it cannot provide a solution for startups. Only merchants with documented credit card processing history are eligible.
- Merchants must have a VIP customer whitelist of recurring customers.
How merchants can get the boarding process started
Like all our payment processing solutions, Instabill requires certain know-your-customer (KYC) documents for onboarding for our latest offerings. As always, we prefer a 10-minute conversation with prospective merchants and partners so that we can find out more about their business and better understand their needs. We don’t just get merchants started, we remain on hand as consultants throughout the life of the merchant account.
Our merchant account specialists can be reached at 1-800-530-2444 Monday through Friday, from 8 a.m. until 6 p.m. US eastern time.