In late June 2020, Wirecard filed for insolvency. This has had a dramatic impact on the high risk payment processing space, in which Wirecard was a significant brand. Although the specifics of the situation are still unknown and new details keep emerging, many businesses are looking for Wirecard alternatives to help secure their processing capabilities…
Category: Industry News
Did You Close Your Store? Start Accepting Payments Online
The outbreak of the coronavirus disease 2019 has put a lot of businesses in a difficult position. Lockdown orders have forced many non-essential operations to close their physical locations indefinitely. Although most business owners understand how important staying closed is, the threat to their livelihoods is also concerning. If you have found your business in…
What Is the MATCH List and How Does it Affect Me?
When a merchant account was terminated by Mastercard, the company was considered blacklisted and its name was added to a Terminated Merchant File (TMF). This was done to prevent a risky business from applying for a new account or opening an account with another major credit card company. More recently, the TMF was replaced with…
Another challenge is forthcoming in high risk online merchant services
It’s safe to say that chargebacks can be the root of all evil. In high risk online merchant services, we know many merchants who will agree with us. Internet merchants have had to adapt quickly to the many changes in dealing with chargebacks: First there was Visa’s (then Mastercard’s) pivotal decision to halve its chargeback…
Considering the CBD craze? 3 things to know to get a CBD oil merchant account
Although we’ve seen the demand for CBD oil merchant account solutions skyrocket, we’re nonetheless quite amazed at how sales for CBD are appearing practically everywhere we look, such as fueling stations, vitamin and supplement retail stores, physician’s offices and many other places. While CBD retailers are popping up everywhere, getting a merchant account isn’t the…
An e-cig merchant is finding it’s a new age for high risk internet merchant services
It’s a new age for high risk internet merchant services, but apparently an e-cigarette and e-liquid manufacturer in California hasn’t received the memo. Recently, there was a piece in the Boston Herald about how Massachusetts Attorney General Maura Healey issued a cease and desist letter to an e-cigarette company in California, for breaches of the…
ACH processing: The common misbelief by high risk merchants
With every domestic merchant account inquiry we receive, whether it results in an approval or decline, we’ll always ask the question: ‘Can we interest you in a check or ACH processing solution?’ At first, most merchants decline our offer. See, in the event of an approval, having some type of option for check processing is…
How PSD2-SCA Measure Will Impact High Risk Merchant Account Processing
It may not be fair to say that high risk merchant account processing is getting more and more difficult (even though we’ve made that very claim often in recent years). It may be more accurate to say, however, that the difficulty in getting high risk merchant services is the byproduct of providers (such as Instabill)…
Wire Act Revision: Will We See a Lull in US Merchant Accounts for Gambling?
Gradually, US states are warming to different forms of gambling, both online and physical casinos, as a revenue source, fueling the need for US merchant accounts. Currently, 40 of 50 states have some type of legalized gambling in place. Will more states take advantage of gambling for an added revenue source? We think they will,…
High Risk Credit Card Processor Chargebacks Down, Says Early Survey
Because we are a high risk credit card processor, we deal with several business types (and many of their merchants) that are plagued by high chargeback and return rates. Tech support, online dating, multilevel marketing and travel come to mind, among several others. So our attention spiked when Visa announced it was halving its chargeback…