Best High-Risk Payment Processors

 Payment processing is a series of events that are conducted for payment settlement via electronic transactions. Payment processing includes an issuer bank and an acquirer bank. The issuer bank is the customer's side bank, and the acquirer bank is known as the merchant’s side bank. Usually, banks distinguish some businesses as high-risk businesses for precautionary reasons during payment processing. Because such businesses have some traits that can cause trouble for merchants and banks. As a consequence of this, the majority of banks refuse to provide payment processing services to such businesses. But to fill this vacuum, some service providers known as high-risk payment processors offer their payment processing services to high-risk businesses.

One such high-risk payment processing service provider is PayCly. PayCly is a Singapore-based high-risk merchant service provider such as high-risk payment gateway and merchant account along with payment processing. It is counted as one of the best service providers in Southeast Asia. Here we have mentioned a few reasons why PayCly is considered one of the best in the business:

1. An extensive banking network

A large banking network is a necessity for every high-risk payment processor. Because high-risk businesses usually have a trait, which is a high volume of transactions, Processing such a huge amount with a single acquirer bank or a small baking network can cause a delay in payment approvals. This is why a payment processor that provides services to high-risk businesses must have a large banking network. And following this trail, PayCly has an enormous list of major domestic and overseas banks in the Southeast Asia region as payment processing partners.

2. Merchant-friendly pricing

Pricing or fees are probably the most dominant factor that a merchant considers while selecting a payment processor. Generally, high-risk payment processors also have a very high processing fee. Because of the risk factor included in the payment processing for such businesses. But PayCly’s fee is more merchant-friendly than that of other service providers. Because it has a transparent fee structure, there are no hidden charges that a merchant has to pay. The result of this is a comparatively low processing fee, and a merchant does not have to pay unnecessarily and unfairly.

3. An enormous array of payment methods

It is not mandatory for high-risk payment processors to have a lengthy list of payment options. But having major and local payment options according to the operation's location or markets is compulsory. Because the majority of customers prefer to pay with a familiar payment method rather than trying a new one. And considering this fact, PayCly provides more than 100 payment methods for transactions, including every major local payment option in Southeast Asian countries.

4. 100+ currencies for international payments

High-risk businesses are more frequently involved in international transactions. But for payment processing, overseas transactions need to be converted into the native currency. Until the payment processor supports multi-currency payment processing. High-risk payment processors that support multiple currencies for payment processing can save both time and money for a merchant. Because currency conversion takes time and costs a fee too. With PayCly, a merchant can accept payments in more than 100 currencies, which makes it one of the most favorable payment processors for high-risk businesses.

5. High-level data security arrangements

Data security is one of the prime concerns for high-risk payment processors. Because almost every high-risk business is fraud-prone. Due to the high chances of online fraud, a high-risk payment processing service provider arranges tight, high-level security for data. Because data is the most precious thing in the modern world. Thus, fraudsters always look for it, in search of a chance to breach data security. But PayCly is one of those service providers that have a high level of data security arrangements, like compliance with PCI DSS, the highest payment card data security standard in the world. PayCly does not just comply with PCI DSS; it also has SSL certification for online platform security.

6. Multi-lingual checkout page

A multi-lingual checkout page is a necessity for high-risk businesses because they are the ones that have a cross-border customer base. Multiple language support has a pretty decent significance for high-risk businesses, as it helps merchants gain the trust of overseas customers. And it also helps improve the user experience of an online platform. This is why PayCly provides a checkout page with multiple language options.

7. Top-class fraud management

Elite high-risk payment processors always have a top-class fraud management system. Because there are always pretty decent chances of high-risk businesses dealing with fraud. Such as fake chargeback disputes. To identify such fishy things, it is necessary for every high-risk payment processor to have top-class fraud management. In consideration of this, PayCly has employed AI and machine learning to detect and eliminate any suspicious activity. Also, it has a professional team to monitor every activity during payment processing to mitigate the risk of fraud.

8. Regulatory compliance

The majority of high-risk businesses have a business market where regulations are so complex that it is pretty difficult for a merchant to comply with them. So PayCly takes this responsibility on its shoulders and provides services for high-risk businesses in compliance with the local authorities.

9. 24/7 customer support

Customer support is always an important part of every payment processor. PayCly, being a high-risk payment processor, knows that there is so much technical stuff that can easily mislead a merchant. This is why it provides 24/7 customer support for merchants to get solutions for any problem at any time. 

10. Instant approval

The most difficult part of being a high-risk merchant is getting approval for a high-risk merchant account, which takes a few working days or a week. But PayCly provides instant approval for high-risk merchant accounts.

Apart from these, there are many more reasons why PayCly is considered one of the best high-risk payment processors in Southeast Asia. But PayCly has earned a reputed place among them due to its top-class payment processing services with merchant-friendly fees. A high-risk merchant can easily get PayCly’s payment processing services through an account, by adhering to these steps.

How can I create a PayCly merchant account?

In order to open a PayCly merchant account, you must fulfill the following conditions:

●      Visit the homepage of the website.

●      In the top-right corner of the screen, there is a drop-down menu with "Apply Now" as a choice.

●      The signup form will appear right away on the screen of your smartphone.

●      All necessary fields on the application must be filled out.

●      To proceed, click "Submit."

By using these recommendations, you may get the payment processing services of one of the best high-risk payment processors in Southeast Asia.

Visit us at: Offshore high risk merchant account