Today’s businesses are growing at a faster speed than ever. The merchant’s getting the grip of the market firmly since they know the key ingredients for evolving their business that is in-depth research the market as well as the need of the audience. No business can flourish successfully if they are lacking with an understanding of the market and its audience. Once you know the market and your audience you can proactively work to cater to the need of both. The cutting-edge technology has been successful in bringing the businesses at the front end by simply providing the best analytical tools to segregate your customer and on the other end best payment collection technologies that are compatible with the customer’s resources for making online payments.
Payment Gateways working as a catalyst for enhanced business revenues and sales since they have allowed the marketers to get on a platform that can allow them to connect globally with the customers. Though, with the evolution of the technology, the payment gateways have also evolved now they are advanced, integrated, and capable resources that are managing the different aspects of the business transactions from optimization of revenue to fraud protection, risk management to API’s enabled services, multiple processing for a higher level of authorization and various other aspects. All these attributes can be owned by the merchant by integrating the payment gateway services into the business application.
1. High-risk businesses such as casino merchants, CBD Oil merchants, Adult Entertainment industry, Tech support industry, Travel agencies, etc. have difficulties in obtaining the merchant account facility for their merchandise who may have potential losses because of the risk involved with these.
2. Banks classifies these merchants as the high risk based on the nature of the business they are having. Hence, they may or may not provide the merchant account facility to merchants. Merchants can get rid of this situation by working with some service providers who are delicately providing the high-risk merchant accounts to high-risk merchants. Get the best suitable payment option for your business according to the need of your business.
Here are some of the best high-risk payment gateway service providers who are helping the merchants in having different payment options for their business so that they can start accepting online payments through their business. Here is the list of the top 10 payment gateway providers providing the best payment services to a different range of merchants.
eMerchantPro
eMerchantPro is among one of the top best merchant account service providers who is involved in providing High-Risk Merchant Account services . They have some of the major bank association networks that help them to better optimize the payment processing options listed on the merchant’s website to work seamlessly.
emerchantPro is providing digital payment solutions with cutting edge-technology tools integrated with the payment gateway framework such as fraud detection, risk mitigation, different payment method, API integration, multiple currencies, and various other payment solutions that are required to enhance the overall performance of the business transactions. It has an association with some of the major brands such as JCB, Rupay, Maestro, UnionPay, etc. They associate with the merchants irrespective of their high or low business size to provide them with the best payment transaction solution that works best for them.
Pros
*Chargeback Management
*Multiple Currency
*Data Security
*International Merchant
*Approval Rating 98%
Cons
PayPal:
PayPal is one of the recognized brands for providing the high-risk payment gateway for business needs. They are allowing customers to make payments for more than 200+ markets. The payment gateway service providers are also known for accepting payments in more than 100 currencies. Moreover, making payments through PayPal has not remained a difficult task.
Consumers can make recursive payments without entering the credit card detail every time they want to make a payment with PayPal. They associate the unified dashboard where you can monitor the streamlined operation activities and overall analytics of your business payments.
Pros
*Support 100+ currencies
*Top-notch security features
*Offer 24/7 customer support in 17 languages
Cons
*Redirection to PayPal for payment completion
*The charges per transactions are high
Stripe:
Making online payments has been one of the priorities for Stripe merchants. And they have been successful in providing online payments from an e-commerce business to subscription-based marketers, to platforms and marketplaces they have been offering a stack of solutions for all your payment needs across channels. Merchants have the facility to better optimize their revenues based on intelligent machine learning and data from millions of businesses they can easily protect from frauds and enhance authorization on each payment from the customers.
The easy Invoicing feature will allow you to send invoices in minutes. Just integrate the stripe payment gateways you can easily start accepting recurring payments via credit or debit card, bank- transfers, and various other payment methods instantly.
Pros
*Accepts & Processes 135+ Currencies
*24/7 customer support
*Fund Withdrawals in Minutes
Cons
*Dispute Management Timelines are usually long
*No phone support available
Checkout:
Check out what the Checkout platform is offering with the payment options. They have been providing the advanced fraud protection mechanism for getting protected payments, a better integration facility, an international marketplace for the connection you to the global market, a wide range of payment methods that covers your business needs. Apart from that, you get an optimized dashboard where you can manage the reports of your business activities, and Data analysis for providing a detailed understanding of the payment transaction your business is going through.
Pros
*No initial setup or account maintenance fees
*Highly Customizable solutions
*Integrated with over 120 shopping carts
Cons
*Not a good fit for small businesses.
2Checkout:
If you wish to process high volume transaction you can easily get in touch with 2checkout.com. They extensively provide you with the best support with multiple payment processors that will allow your transactions to pass through the highest possible payment authorization, even for cross-border transactions.
The merchant will get the coverage in 200+ countries and territories, over 45+ payment methods, more than 100+ dealing currencies, and 24*7 Shopper’s support for order and payments. They are equipped with tools, capabilities, automation, integrations, and services to make global payments seamless and enhancing the customer experience with the latest and advanced technological features. The merchant will also get the benefits of higher conversion and increased authentication rates.
Pros
*Multiple payment methods
*More than 87 currencies
*Integrated with over 120 shopping carts
Cons
*Slow support and quality of customer service
*2checkout charges 3.5% and 25p per transaction
Firstdata.com:-
Firstdata.com is providing the gateway services to merchants for enhancing global reachability, securing the merchant payment transactions, improving customer relationships, expanding merchant business. They have been outstanding in understanding the business needs and come up with the solution that is helpful for the financial institutions, technology partners and independent sales and organizations.
We have been dealing with a range of businesses from e-commerce to subscription-based merchants, online marketers, individual sales and expanding our reach to millions of other lows, high and medium volume companies, organizations, and individuals for providing them with efficient payment solutions.
Pros
*Better integration with commercial websites
*Onsite Payments
*Facilitates the approval of credit/debit card payments
Cons
*Slow support and quality of customer service
Authorize.net:-
Authorize.net is providing a one-stop solution for the merchants who want to enable payment at retail locations, process payment manually or on the website, or through a mobile app. They cater to a wide range of requirements that involves a retailer or merchant looking for online payment solutions from their smartphone or tablet. They will help turn your smartphone become the point of sale terminal for the business. Apart from that merchants who are looking for e-check payment solutions can easily be benefited by getting in contact with the authorize.net team for availing the services from them.
Pros
*Extremely secure
*Processes transactions very quickly
*No boundation on size of transactions
Cons
*User interface is not good and intuitive
*Can have low pricing for small businesses
AsiaPay:
AsiaPay is a qualitative digital payment solution provider that strives hard to provide advanced, integrated, and cost-effective payment processing solutions to financial institutions and e-business around the world. They are hugely known for their multiple payment options and partners. You will easily get a world-class shopping experience with some of the major credit card partners such as JCB, Union Pay, Maestro, American Express, Rupay, etc.
They are dealing in providing multiple net banking or payment methods to allow customers to make payments directly through their bank accounts. They are also including payment flexibility for the customers so that they can buy now and pay later in installments. They are enriched with multiple e-commerce platforms, shopping cart plug-ins, fraud detection, and mitigation management tools, and various other services.
Pros
*Multiple Payment Partners
*E-commerce platform plug-ins
*Anti-Fraud
Cons
*Too expensive
*Needs to have Better UI and Design
PayU:
The best digital payment solution provider with all payment options has provided support to a wide range of clientele with the best success rates. They provide custom checkout experience for merchants, flexible 24*7 customer support, No document required to start integrating with PayU. These are some of the delightful cups and cakes that you can enjoy while taking services from the PayU service providers.
You will get the flexibility of integrating the payment gateway with any of the platforms such as mobile app or website etc. They are serving the requirement of different businesses such as Freelancers, startups, Enterprises, Omni-channel businesses, etc.
Pros
*Multi-currency
*Alternative payments
*Recurring payment
Cons
*Late Payment Settlements
CCAvenue:
CCAvenue is one of the commercial service providers who are authorized as the master merchant by the financial institutions to provide payment solutions to sub-merchants so that they can start accepting payments from the customers.
CCAvenue is one of the e-business solution providers that is helping the merchant website to transmit transaction data through credit cards, online banking, and other payment methods. They have their range of services categorized according to the evolving needs of the customer such as Invoice payments, B2Biz payments, subscription, storefront, CCAvenue phone pay, CCavenue finance, etc.
Pros
*Invoice Payments
*Multiple Currency Processing
*Responsive Checkout Page
Cons
*No phone support available
We have been through with some of the best payment gateway service providers. Now we also know the Pros and cons of each and every payment gateway provider listed here. It is always recommended to take in-depth knowledge of the subject before making a decision hence consider consulting a merchant account service provider before choosing the best payment gateway services for your business.
