The 8 Best (Tested) Chargeback Prevention Tips for High-Risk Businesses

Person Entering Credit Card Details

Ah, chargebacks…the bane of any high–risk business (or any business, really). While most seem like a minor inconvenience on the surface that you can ignore, more than a handful (and especially one right after another) can quickly turn into a massive, costly issue for a high-risk merchant.  While the point of chargebacks is to protect the customer, 80% of consumers have openly […]

7 (Expert) Things to Know About Starting a High-Risk Business

High-Risk Business Meeting

Are you an aspiring entrepreneur considering venturing into the adult industry? Or are you looking to launch your very own tobacco eCommerce brand but don’t know where to start? Don’t worry. Most first-time high-risk merchants wouldn’t, and honestly, even the experienced often overlook crucial parts of this process. That’s why we’ve dug into some of […]

Guide to Cannabis Payment Processing Solutions (2024)

Cannabis payment processing with credit card

The cannabis industry plays a significant role in today’s global economy, yet despite the growing popularity (and growth potential for you as a cannabis business owner), the trade remains stigmatized and heavily regulated. This means that even though opening a cannabis business is easier than ever, it’s still a challenge to build a successful one due to […]

High-Risk Industries & Their Payment Processing Solutions

High Risk Industries

Starting a business is easier than ever. However, there are several steps and key elements that even an experienced business owner might not think of off the top of their head.  This is especially true if you’re an aspiring business owner in a high-risk industry, which are categorized by determining factors such as higher tickets and valued goods.  As if […]

The Best High-Risk Payment Processing Companies of 2024

The Best High-Risk Payment Processing Companies of 2024

While we’ve made a lot of advancements in payment processing in recent years, many high-risk businesses still struggle to find the right payment processing provider who can cater to their high-risk needs. Despite the struggles and obstacles that come with operating a high-risk business and accepting payments for that business, choosing a payment service company that’s able to cater […]

Need Instant Approval for High-Risk Payment Gateways? Consider These 5 Key Factors

Instant Approval Payment Gateway

Merchants in high-risk industries have been dealing with approval issues, extensive onboarding periods, and generally more scrutiny for ages now, which are all things that should be easily resolved in today’s day and age, right? You’d think so, but even though the regulatory environment for these businesses has improved over the last few years, they’re still […]

High-Risk Virtual Terminal: What It Is & How It Works

Understanding how to manage online transactions is crucial for many businesses, especially those operating in high-risk sectors. That’s what a high-risk virtual terminal is for. But what exactly is a high-risk virtual terminal, and how does it differ from the regular virtual terminals you might be familiar with? We’ve created this quick guide to help […]

A Guide to Merchant Accounts For Sports Betting Businesses

Man looking at sports betting results on phone

The sports betting industry is growing at an extraordinary speed, and the demand for these services is increasing. While the global revenue of sports betting is expected to reach almost 42 billion euros in 2024, a lot of businesses in this trade have found themselves struggling to keep up with the demand while also ensuring secure and […]

Best High-Risk Merchant Account Providers in the UK

Business man in London

High-risk businesses in the UK face many challenges other businesses don’t, simply due to the highly regulated nature of their transactions. Not only that, but UK-based high-risk businesses face even more unique challenges than companies throughout the rest of the world. The regulations specific to Great Britain are typically more inflexible and harder to navigate, and non-compliance can lead […]

The Best Credit Card Processing Solutions for Travel Businesses in 2024

Upset passenger at the airport

The travel industry is one of the largest industries in the world, accounting for 10.3% of the global GDP and employing over 300 million people. The travel industry’s largest market is eCommerce, with the transaction value reaching over $7 trillion in 2024. While the industry is quite diverse, it mainly consists of transportation, hospitality, and tourism services. However, because of […]

Tobacco Merchant Account: The Best Options & Tips for 2024

Tobacco Merchant Account and Payment Gateway Solutions

If you own a tobacco business, you’re likely familiar with how frustrating and complex it can be to navigate how transaction processing works in the tobacco industry. Add ever-changing laws, varying regulations, higher processing fees, taxation, new products constantly entering the market, and unforeseen economic conditions on top of that, and you’ve got a lot to […]

Best Gambling Payment Gateway Options for Your Business in 2024

Best Gambling Payment Gateway Options

Operating a successful online gambling platform requires navigating unique struggles regarding transaction processing. Traditional banks, payment processing solutions, and even standard merchant accounts typically fall short in managing these challenges. This, in turn, leads to major issues for most online gambling businesses, including an increased risk of fraud, chargebacks, regulatory complications, and data security concerns. To […]

AI Payment Processing: Industry Transformations, Tips & More

AI Payment Processing

The digital payments industry, like nearly every other industry right now, is undergoing a transformative shift. Conventional payment methods are being replaced by modern processes that rely on artificial intelligence (AI) to enhance multiple essential elements of payments, such as: Security Efficiency Customer experience With the introduction of any new tool or solution, there are naturally new concerns and […]

ACH vs. Wire Transfer: What’s the Difference?

person making a wire transfer on their phone

Are you a business owner confused by the difference between ACH vs. wire transfer, wondering which is the right option for your business transactions? We’ve sourced our expert insights after years in the high-risk payments industry to bring you this quick guide. You’ll learn: The key difference between ACH and wire transfers How each of […]

Gambling & Casino Payment Gateway

gambling payment gateway

The gambling industry has evolved from what it used to be. Thanks to relaxed regulations in many parts of the world, online casinos and sports betting have become more popular.  However, with increasing popularity comes more tendency for scams. Gambling companies must protect themselves and their customers from scammers, and that’s where the need for […]

Financial Services Merchant Account & Payment Gateway 

financial services merchant account

As a financial service operator, dealing with paper invoices when collecting and registering payments can be exhausting. The increased volume of transactions would be the push you need to start accepting payments for transactions through credit/debit cards.  To do this, you’ll need a financial solution payment gateway, and that’s where opening a financial services merchant […]

MCC Codes – What is My Merchant Category Code? [2024 Full List]

Person swiping card on payment terminal

What is an MCC? A Merchant Category Code (MCC) is a four-digit number assigned to a business or merchant by credit card companies. These are used to identify between business’s and industries. Every website and business has a unique MCC code based on risk and transaction patterns as well as business groups. In the United […]

How To Get a High Risk Online Dating Merchant Account Solution

Online dating app

PayFasto offers dedicated merchant accounts for online dating businesses Explore secure & reliable online dating merchant services with our online dating high-risk merchant account and payment gateway for dating websites & apps. At PayFasto, we specialize in providing merchant accounts for online dating businesses that cater to the specific needs of these merchants. Whether you’re […]

ACH Return Codes: 8 Most Common Resolved

From the convenience of direct deposits to the efficiency of online bill payments, ACH transactions play a significant role in our daily financial interactions. Which makes ACH returns all the more frustrating. Read on to explore: What are ACH return codes How they work and what causes them What to do to solve them What […]

ACH Debit vs. ACH Credit – Understanding The Differences

Knowing the role of ACH debit vs. ACH credit transactions can make a difference in ensuring the financial efficiency of your business. Whether you’re a business owner, a finance enthusiast, or simply curious about modern banking, this guide will help you learn: The differences between ACH debit vs ACH credit How each works and the […]

Decoding Point Of Sale (POS) Transactions: A Business Owner’s Playbook

Take charge of your payment process by learning all you need to know about POS transactions: What is a POS transaction What is a POS transaction type How PayFasto complements your POS transactions  From decoding the essentials to optimizing the different types, read on to discover how to turn your point of sale into a […]

Complete Guide to Chargeback Fraud Prevention in 2024

Chargebacks may be a lifeline for consumer protection but also a recurrent stressor for online retailers. This is especially true for those operating in high-risk industries. As online purchases become more common, chargeback fraud threatens not just financial losses but the very foundation of trust between businesses and their customers.  Read on to uncover all […]

Best Retail Merchant Account & Payment Processing Solution

Retail Merchant Account

In the market for a seamless and reliable high-risk retail merchant account? PayFasto guarantees a dedicated solution for all your payment processing woes. From fraud protection to 24/7 dedicated support, we’ve got all your bases covered. Seamless & Affordable Retail Merchant Account Running a business is challenging enough without cash flow issues. This is why […]

The ABC of Cryptocurrency for Online Merchants

The ABC of Cryptocurrency for Online Merchants

Cryptocurrency has become very popular nowadays as the number of people using it for payments is increasing. Well-known cryptocurrencies as Bitcoin, Ethereum, and Litecoin are showing high growth and instill confidence in the success of cryptocurrency as a whole in the future. According to statistics, the number of daily transactions of Ethereum has increased by […]

Electronic Payment Systems: Methods and Types

credit card

Nowadays, e-payments are an essential part of any e-commerce business and their popularity is growing rapidly. According to statistics, digital payments are projected to grow even further in 2021. In today’s article, we will tell you about electronic payment systems in general as well as e-payment methods and types. What Are E-payments? The term e-payment […]

Acquiring Bank vs. Issuing Bank: What’s the Difference?

photo-1500731250117-4b0cbb8b276a

We’ve previously covered some useful information about internet acquiring, what an acquiring bank is, and its role in the transaction process. Today, we’ll explain what an issuing bank is, its role for customers and e-merchants, and how it differs from an acquiring bank.   What Is an Issuing Bank? From the customer’s standpoint, an issuing […]

Multi-Currency Payment Processing: Everything You Need To Know

Multi-Currency Payment Processing: Everything You Need To Know

Ongoing technological growth is opening new doors for the e-commerce industry. Digital payments, artificial intelligence, machine learning, multi-currency cards and real-time cross-border payments were some of the dominant card and payment trends of 2020. The popularity of electronic payments is growing every year, and multi-currency e-commerce merchants have been encountering multiple payment challenges. If you […]

Gaming Merchant Account & Payment Processing

Gaming merchant account

The online gaming industry has not only become bigger in the last few years, but its earning potential for merchants has also significantly increased.  However, the disruption means that gamers are also becoming more conscious of what to expect from providers, and this can pose a significant threat to merchants that do not transform their […]

How To Start An Escort Merchant Account

How To Start An Escort Merchant Account

What Is An Escort Merchant Account? Escort merchant account enables escort agencies everywhere to be authorized and setup with an account via a merchant acquiring bank. Merchants then can accept and process electronic card transactions. When a banker hears the word Escort, what comes to their mind is high chargeback ratio and gray reputation. As a […]

Marketplace Payment Gateway Solutions

Marketplace Payment Gateway Solutions

Streamline Your Online Marketplace Transactions with PayFasto’ Secure Marketplace Payment Solutions With the right high risk international payment gateway, you can reduce transaction costs & chargebacks, increase sales, and improve customer satisfaction. Simply put: If you’re a high-risk business operating internationally, you’ll need an international payment gateway to accept payments from customers around the world. […]

SWIFT vs SEPA Payments: What Are the Differencies & Benefits

SWIFT and SEPA are facilitating payments within Europe and worldwide. So the benefits of it are far extending. Especially, for merchants dealing without borders, it is a blessing. Also as the payments industry is evolving the existence of SWIFT and SEPA can make your life a lot more easier as a merchant. What is SEPA? […]

What Is A Merchant ID – Complete Guide for Businesses

What a Merchant ID is all about

Navigating the world of online business is tricky enough. One key question that every business owner should know the answer to is “What is a merchant ID?” Think of an MID (merchant identification number) as a special code that helps keep track of all the money matters for your business. Simply put, it’s a unique […]

What to Do When Your Merchant Account Has Been Closed?

What To Do If Your Merchant Account Is Closed

A merchant account may be terminated after a 30-day notice or even quite suddenly. This is an extremely worrying and damaging situation to be in for any business because they lose the ability to make transactions. The good news is that we have the expertise you need to understand how to deal with this issue. […]

All You Need To Know About Credit Card Processing Fees

All You Need To Know About Credit Card Processing Fees

Interchange Fees Scheme fees Payment Processor’s Fees Merchant Account Fees Dues and Assessment Fees How To Reduce Credit Card Processing Fees It is essential for merchants to adapt to the changes in the e-commerce industry by accepting various types of credit cards. However, for every payment provided with a card, payment processing fees may get […]

What is my Credit Card Security Code (CSC)? Where do I find it?

What Is Card Security Code and Why Is It So Important?

Like a card number, a card security code (CSC) is an essential feature to guard online transactions. Moreover, it helps to boost purchasing by increasing the safety and confidence of consumers. As for the merchants, CSC is a useful option to prevent fraud and chargebacks. We’ve conducted a guideline where you can find all the […]

What is Visa Merchant Purchase Inquiry Program (VMPI)?

VMPI- solution to chargebacks

VMPI- Visa Merchant Purchase Inquiry, will make business smoother and faster. How? VMPI makes sure that disputes are settled before facing a chargeback. Hence, payments received through Visa card as now less troubling. Also, this is part of the new regulations by Visa which helps make your business transactions more transparent. Therefore, your relations with […]

How to Avoid Chargebacks: 7 Tips to Protect Your Business

Chargebacks are a significant hurdle, impacting your business’ revenue and reputation. Consumers claim that 67% of chargebacks are avoidable. But is it really that easy? Understanding chargebacks, why they occur, and, most importantly, how to avoid them is critical for maintaining a healthy and prosperous business. This guide offers valuable insights and strategies tailored for […]

What Is a High-Risk Transaction: Quick Guide

If you own a business in offline commerce, understanding the concept of a high-risk transaction can make or break your long-term (and honestly short-term) success. As the name suggests, these transactions carry a higher risk of something going wrong than regular transactions. But what exactly makes a transaction high-risk? How can businesses and consumers navigate […]

Credit Card Payment Processing: What It is & How It Works

Credit Card Payment Processing

It’s becoming increasingly important for high-risk merchants to provide their customers with payment methods they actually prefer. However, to effectively offer various payment options, it’s essential to have knowledge about credit card payment processing, online payments, and mobile payment options. Specifically, with the rise of digital payment methods, businesses need to adapt and embrace certain […]

What is a Terminated Merchant File?

Ever wondered how simple missteps in handling credit card transactions can hurt your business? One such case – especially for a high-risk merchant – is landing on a Terminated Merchant File or MATCH list. Understanding the rules of the game is crucial not just for compliance but also to safeguard your business. In this article, […]

How to Get a High-Risk Merchant Account with Bad Credit?  

Bad credit merchant account

When getting a high risk merchant account bad credit history or a poor credit score can make it difficult to find a provider who is willing to work with you.  Additionally, the negative effects of bad credit can remain on your credit report for a decade. However, don’t lose hope because there are providers out […]

Can I Use PayPal, Stripe, Venmo or Square as a High Risk Merchant in 2024?

Can High Risk Merchants Use PayPal, Stripe, Venmo or Square

If you’re a high risk merchant, you’re probably used to dealing with many issues – from chargebacks, fraud payments, to declined transactions. Added to that, operating in high risk industries also comes with other challenges such as changing regulations and compliance requirements.  And if you think that using big payment providers like Paypal, Venmo, Square, […]

PSD2 – The Future

PSD2 – The Future of Banking The Second or Revised Payment Services Directive (PSD2) is a fundamental piece of payments-related legislation in Europe, which entered into force in January 2016. Retail banking has been in the game-changing year since 2018. Banks’ dominance on their customer’s account information and payment services will disappear with the PSD2 […]

What Is a 3D Secure Payment Gateway & Why You Need to Know

3D-Secure

3D Payment Gateway What is a 3D Payment Gateway? Features of 3DS Advantages of 3D Payment Gateway Disadvantages of a 3D Payment Gateway Card-Not-Present Merchants Need 3D Gateway Account 3D Secure Payment Gateway Solutions With A PayFasto   3D Secure payment gateway may seem like a fashionable technical word, but it can help your e-commerce […]

What is A Rolling Reserve & How Does It Work? (Quick Guide)

Rolling Reserves Explained

What is a rolling reserve? A rolling reserve is a chargeback risk prevention tool, and is used with any business model that is deemed high risk of getting them. For the most part bank will set a firm percentage based on the risk involved with the business. Can be 5%-20% of transaction value per month. […]

The MATCH List: What Is It & How to Be Removed As a Merchant in 2024?

The MATCH List

Read about the MATCH (Member Alert to Control High-Risk Merchants) list – created by Mastercard – and how it works. Discover what it means to be “getting MATCHed”, and how to get yourself removed from the list (if it is possible!). Read on to find out.   What is a MATCH list?  MATCH is a […]

High Risk vs Low Risk Merchant Accounts: What’s The Difference?

high vs low risk

High-risk and low-risk merchant accounts refer to the categorization of businesses based on their level of risk for payment processors and financial institutions. The distinction is important for determining the terms and conditions, fees, and approval processes associated with processing payments for these businesses. What is a high-risk merchant account? These businesses are deemed to […]

How to Get A High-Risk Ecommerce Payment Processor Solution

High Risk eCommerce Processor Solution

Simplify your high-risk e-commerce payment processing with secure solutions from PayFasto Are you searching for a reliable high-risk ecommerce payment processor? We got your back! PayFasto specializes in providing secure and tailored payment processing solutions for high-risk businesses. Whether you’re using Shopify, PayPal, Stripe, Square, or Venmo, our expertise in high-risk ecommerce payment processing ensures […]

Bitcoin Merchant Services – Start Accepting Crypto Payments Today

bitcoin merchant services

In today’s digital era, embracing innovative solutions is key to staying competitive. Bitcoin merchant services have emerged as a game-changer, revolutionizing the way businesses transact and paving the way for a new era of commerce. Are you ready to embrace the future of payments? Start accepting Bitcoin payments and crypto payments with PayFasto today and […]

Shopify High-Risk Payment Processing Made Easy with PayFasto

shopify high risk payment processing

Unlock the full potential of your high risk Shopify store with PayFasto’ cutting-edge payment processing solutions. We understand the challenges faced by high risk industries and are committed to providing you with the best-in-class payment gateway and exceptional customer support. Say goodbye to payment obstacles and focus on growing your business. Sign up with PayFasto […]

Discover Our High-Risk Payment Gateway for WooCommerce

All-In-One High-Risk Payment Solutions for WooCommerc

All-in-one high-risk payment solutions for WooCommerce Are you running a WooCommerce store in a high-risk industry? Finding the right ecommerce payment processing solution can be a challenge. At PayFasto, we are already providing hundreds of merchants a high-risk payment gateway designed specifically for WooCommerce.With our seamless integration (also available for Shopify) and expert support, you […]

Everything you need to know about PSD2

PSD2: What Is It and What Does It Mean for Fraud?

Having a Payment Service Directive (PSD2) is now mandatory. Still don’t have it? If no, there is some bad news for you! From the running month, you won’t be able to make any payments via your card if you do not have PSD2. It is as per the revised Payment Service Directive by the European […]