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 today and experience our Shopify high risk payment processing solution today.
Start Accepting Shopify Payments Today.
How Payments Work on Shopify
When it comes to payments on Shopify, there are a few key aspects to consider.
One option for collecting payments is to use Shopify Payments, which is an integrated solution provided by Shopify. However, merchants are not obligated to use Shopify Payments and can explore other payment processing options if they prefer.
Shopify Payments has some advantages, such as being instantly available and easy to activate without a lengthy application process. Merchants who choose to use Shopify Payments can accept major credit cards like Visa, Mastercard, American Express, Discover, and even Diner’s Club.
Additionally, there is a Shopify Lite option available for merchants who have their own website or sell on social media channels, allowing them to add a Shopify Payments button.
Setting up Shopify as your payment processor isn’t that easy, though, if you’re operating in high-risk industries. Shopify is notorious for giving high-risk business owners a hard time, which is why you probably need a trusted partner by your side for your Shopify high-risk payment processing.
Switch to PayFasto for High-Risk Shopify Success.
How to Start Using Shopify to Accept Payments in High-Risk Industries
To use Shopify Payments, there are certain requirements that merchants need to meet. Firstly, it is available to merchants in 17 countries, including the United States, United Kingdom, Canada, Australia, and several European countries.
Merchants must also have a bank account in their country’s currency that accepts electronic money transfers, such as a physical bank in the case of American merchants that accepts ACH payments.
Additionally, merchants operating in high-risk businesses, which include highly regulated industries, tech services, legal services, or businesses that do not sell tangible physical products, can have a hard time dealing with Shopify.
Maintaining a low chargeback ratio is also important, as excessive chargebacks can lead to a merchant being labeled as high-risk.
It’s worth noting that Shopify Payments is actually a white-label version of Stripe, which means that Shopify acts as a platform that integrates with Stripe to facilitate transactions.
Stripe is a well-established payment processor with a large customer base and a strong market presence.
Why Your Businesses Might Need Support with Shopify High-Risk Payment Processing
There are some downsides to working with payment aggregators like Shopify Payments – especially if your business operates in high-risk industries.
Shopify has a strong focus on mitigating their own risk, which can lead to holds, freezes, or suspensions of merchant accounts. Payment aggregators like Shopify also tend to have limited customer support, and their fee structures may not be as flexible or tailored to individual business needs as non-aggregate payment processors.
Moreover, Shopify Payments being a white-labeled version of Stripe means that Shopify has to adhere to Stripe’s rules, potentially leading to stricter risk mitigation measures.
In certain cases, Shopify may close a store account entirely, rather than just suspending the payment gateway.
This could happen if a merchant violates Shopify’s terms of service, such as by selling illegal items or engaging in copyright infringement.
Additionally, a high-risk label may be applied to a merchant’s account due to factors like chargeback ratios, selling services or digital goods instead of tangible products, poor merchant credibility in industries known for scams, or offering products that are prohibited or considered high-risk by Shopify.
If a merchant’s high-risk merchant account is dropped by Shopify, it is important to take immediate action to address the situation. This includes contacting Shopify’s customer support to understand the reasons for the cancellation and working towards resolving the issue.
Merchants should also review their compliance with industry regulations, and you may also need to seek out alternative payment providers such as PayFasto to help you out with the issue.
Are you looking for a payment gateway that cover all your needs?
With PayFasto you’ll have a payment provider with chargeback- and fraud protection, personal 24/7 suport, 3D secure payments, integrations and more.
Why Choose PayFasto for Shopify High Risk Payment Processing?
When faced with the situation of Shopify dropping your high-risk merchant account, it’s crucial to find a suitable solution that allows you to continue operating your business smoothly.
Looking for a WooCommerce Payment Gateway? See what we have to offer.
In such cases, PayFasto is the ideal Shopify high risk payment for high-risk industries.
Here’s why:
Expertise in High-Risk Industries
PayFasto specializes in catering to high-risk industries and understands the unique challenges and needs associated with these businesses. We have extensive experience working with merchants in industries such as adult entertainment, online gaming, nutraceuticals, CBD, and more.
This expertise ensures that we can provide tailored solutions specifically designed for high-risk businesses.
Simple Integration with Shopify
PayFasto offers seamless integration with the Shopify platform, allowing you to continue using Shopify for your e-commerce operations. By connecting PayFasto as your preferred high-risk Shopify payment processor, you can leverage the user-friendly interface, extensive features, and robust ecosystem of Shopify while still catering to your high-risk industry requirements.
Comprehensive Risk Mitigation Measures
PayFasto understands the importance of mitigating risks associated with high-risk industries. We have sophisticated fraud prevention measures in place, including advanced tools for two-factor authentication, address verification, PCI-compliance standards, and transaction limits.
These measures help protect your business from fraudulent activities while ensuring smooth payment processing for your customers.
Personalized Support and Flexibility
Unlike larger payment aggregators, PayFasto offers personalized support and flexibility to high-risk merchants. We understand the specific challenges faced by businesses in these industries and provide tailored solutions to meet their needs.
PayFasto takes a proactive approach to address any issues or concerns promptly, ensuring a smooth Shopify payment processing experience for any high-risk business.
Compliance with Industry Regulations
PayFasto places a strong emphasis on compliance with industry regulations, such as anti-money laundering (AML) and know-your-customer (KYC) requirements.
We work closely with merchants to ensure they meet all necessary compliance standards, reducing the risk of account cancellations or disruptions.
Transparent Marketing Strategies
PayFasto recognizes the importance of transparent marketing strategies, especially for high-risk businesses. We can provide guidance and support in reviewing your business model, diversifying products or services, and targeting a different customer demographic.
This helps ensure that your marketing practices align with industry regulations and best practices, reducing the risk of account suspension.
By partnering with PayFasto, high-risk merchants can navigate the challenges of operating on Shopify with confidence.
Our specialized expertise, seamless integration, risk mitigation measures, personalized support, compliance focus, and transparent marketing strategies make us the ideal high-risk payment processor for Shopify. With PayFasto, you can continue selling your products or services on Shopify while maintaining the necessary compliance and risk management measures specific to your industry.
Remember, Shopify high risk payment processing, high risk payment processors for Shopify, and Shopify high risk orders are no longer obstacles but opportunities when you partner with PayFasto.
Transform your Shopify store’s payment experience with PayFasto.
Frequently Asked Questions on Shopify High-Risk Payment Processing
How does Shopify label high-risk payment processing?
High-risk payment processing refers to the handling of transactions for businesses that operate in industries with a higher likelihood of chargebacks, fraud, or regulatory compliance issues.
These industries can include adult entertainment, CBD, firearms, online gaming, and more.
Are there any benefits of using a smaller payment processor like PayFasto for high-risk industries on Shopify?
Yes, smaller payment processors like PayFasto can offer more flexibility and personalized support compared to larger platforms.
They understand the specific needs of high-risk industries and can provide tailored solutions to meet your unique requirements, giving you more control over your payment processing and reducing potential disruptions to your Shopify business.
Why does Shopify drop high-risk merchant accounts?
Shopify may drop high-risk merchant accounts to protect its platform and other merchants from potential financial losses. This action is typically taken when a merchant account poses a significant risk of chargebacks, fraud, or non-compliance with industry regulations.
What should I do if Shopify cancels my high-risk merchant account?
If your high-risk merchant account is canceled by Shopify, take the following steps:
-
- Contact Shopify’s customer support to understand the reasons for the cancellation.
-
- Review your compliance with industry regulations, such as anti-money laundering and know-your-customer requirements.
-
- Ensure you have sufficient fraud prevention measures in place, such as two-factor authentication and address verification.
-
- Seek out alternative payment processors specializing in high-risk industries, like PayFasto.
- Seek out alternative payment processors specializing in high-risk industries, like PayFasto.
Why should I consider PayFasto for high-risk payment processing on Shopify?
PayFasto specializes in providing payment processing solutions for high-risk industries. By choosing PayFasto, you gain access to a payment gateway designed specifically for high-risk businesses, ensuring seamless transactions and reduced risk. We understand the unique challenges faced by high-risk merchants and offer tailored solutions to support your Shopify store.
Can I appeal Shopify’s decision to cancel my high-risk merchant account?
Yes, you can appeal Shopify’s decision by reaching out to their customer support and inquiring about their appeals process. Provide any relevant information, such as evidence of compliance with industry regulations or robust fraud prevention measures, to support your case.
What if my business model is considered high-risk on Shopify?
If your business model is deemed high-risk on Shopify, you may need to review and adjust your approach.
Consider diversifying your product or service offerings, targeting a different customer demographic, or refining your marketing strategies to meet Shopify’s guidelines and reduce risk.
How can PayFasto help me with high-risk payment processing on Shopify?
PayFasto offers specialized high-risk payment processing solutions that seamlessly integrate with your Shopify store. We provide advanced fraud prevention measures, secure payment gateways, and expertise in navigating the challenges of high-risk industries, ensuring smooth transactions and reliable payment processing for your Shopify business.
Are you looking for a payment gateway that cover all your needs?
With PayFasto you’ll have a payment provider with chargeback- and fraud protection, personal 24/7 suport, 3D secure payments, integrations and more.
