Seeking A Fantasy Sports Merchant Account?

The industry is thriving when it comes to obtaining a fantasy sports merchant account. This high-risk vertical will require a payment processing provider that understands the ins and outs of this specific gaming model, as well as recommendations, advice, and sports forecasting that goes along with fantasy sports merchant accounts. Many of them require high-risk merchant accounts. For your online fantasy sports merchant account, whether it's phone orders, online sales, recurring billing, or anything else.

Radiant Pay processes payments for fantasy sports merchant accounts in the professional leagues listed below:

• Fantasy Football (NFL)

• Fantasy Baseball (MLB)

• Fantasy Hockey (NHL)

• Fantasy Basketball (NBA)

• Fantasy Racing (NASCAR)

• Fantasy College Football (NCAA)

For a multitude of reasons, a Fantasy Sports merchant account is regarded as high risk, making it difficult to locate a dependable processing partner. Radiant Pay specialises in working with high-risk merchants, and we have a number of acquiring banking partners who provide Fantasy Sports merchant accounts.

Do you need a Fantasy Football Processor?

Choose your players, your starters, and the fantasy football processor that is best for you. Your company may have a large number of customers who want to sign up, form teams, and place bets. You immediately learn that you have no method to accept online payments via debit or credit cards because your firm is classified as high risk, which you were unaware of previously, and you're now left with clients to serve but no way to accept their money.

Rather than becoming increasingly frustrated with the process of being declined and given the runaround when applying with traditional banks, or worse, having your fantasy sports merchant account frozen or completely dropped by an aggregate processor like PayPal or Stripe, you take the smarter, more efficient route of seeking out a dependable and knowledgeable high-risk merchant account provider.

What Is the Purpose of a High-Risk Fantasy Football Merchant Account?

It's not always all fun and games with fantasy football merchant accounts. Furthermore, the risks of this market might cost a lot of money in customer-initiated chargebacks. Customers that are bitter losers are one of the most common causes of chargebacks. While some customers may win big, others will not, and those who do will normally chalk it up to a fair loss and play again - but others and this group of "others" are substantial, will be angered by the loss and file a fake chargeback in an attempt to avoid paying for the service entirely.

The excessive amount of chargebacks, commonly known as a company's chargeback ratio, is a major contender for fantasy sports merchant accounts being classed as high-risk. When chargebacks occur, they are unpaid by the business owner or merchant, which is one of the most important financial losses for credit card processors, which are rigorously scrutinised by both sponsor banks and credit card companies.

Sponsor banks will cancel any fantasy sports merchant account that consistently exceeds 2% in chargebacks and will levy a fine on the payment processor who set up your merchant account. With the chargeback rates for fantasy sports merchants, most traditional banks will not even consider supplying payment processing solutions to a high-risk business like this - there is simply too much responsibility and uncertainty involved.

Why is credit card processing for fantasy sports so risky?

Fantasy sports credit card processing can be simple, but choosing a provider with the expertise you need to get proper underwriting for your fantasy sports merchant account, as well as a company that has been in the business long enough to have developed relationships with sponsoring banks, is critical for high-risk merchant accounts. Failure to be choosy in who you choose to set up your payment processing will effectively determine the future success and longevity of your business as a whole. High-risk merchants aren't always the first to be approached by banks for a fantasy sports merchant account - in fact, they typically deny any high-risk applications that come across their desks.

This implies that what was most likely your Plan B soon becomes your Plan A, and if you don't have access to options that make sense for your business model, you can find yourself rushing for solutions. What are your options? First and foremost, you need a high-risk merchant account provider, such as Radiant Pay, that does all of their underwriting in-house and has the experience and banking ties to get you approved for a fantasy sports merchant account and accept payments quickly.

6 Essential Questions About Merchant Account

It may seem apparent to get your Merchant Account through your business bank, but it is frequently wise to compare prices with several online payment service providers. In most cases, they have connections with a variety of acquiring banking partners that they can use to their advantage to negotiate more affordable rates.

Choosing a merchant account can sometimes be a daunting task. Here are six questions that you should ask to make sure you are getting the best possible price if you are new to online businesses.

What are your acquiring rates and charges?

Pricing and rate-related queries are the most logical ones to make. You will often have to pay a monthly fee to an acquiring bank for your Merchant ID. A basic authorisation cost per transaction as well as an acquisition fee, calculated as a percentage of the transaction value, will also be charged. Refunds and chargebacks may incur additional expenses. Credit and debit cards may have different fee schedules.

When will you be reviewing my acquisition rate?

Your acquiring rates may be higher if you are a start-up, have little trading experience, or if the nature of your business is thought to be high-risk. If this is the case, request a rate review from your merchant account provider at a 6, 12, or 18-month point. If your company is doing well, they might be more willing to offer you more appealing terms.

What terms & conditions do you have?

Merchant accounts have different terms and limitations. The length of your contract, how frequently you use the service, and even the content of your website can all be impacted by this. If unsure, get advice from the merchant account provider.

What are the supporting documents needed to apply for your merchant account?

In order to confirm that your business complies with its requirements, the merchant account provider will need to view a number of documents, including your business registration documents, proof of domain ownership, and any supplier agreements. To expedite the application process, request that the acquiring bank email you a list of the necessary documentation so that you can gather it.

What are the details of the settlement?

The frequency of payments being transferred from your merchant account to your business bank account depends on the settlement terms. Terms of settlement might range from three days to four weeks. Finding out how settlement terms will impact your business model before you apply is important because acquiring banks frequently retain funds in your merchant account for a while after a transaction has been completed if there is a risk of chargeback.

What security guidelines are applicable?

The heightened potential risk of fraud associated with an online transaction is one of the reasons why getting a Merchant Account might be challenging. You should be able to get the most recent security recommendations and minimal criteria for your e-commerce website from card schemes like Visa and Mastercard. Your payment network must be compliant with the Payment Card Industry Data Security Standard (PCI DSS) in order to meet one of the technical requirements of the Visa and Mastercard card schemes. 

The sanctions that card schemes can impose on a non-compliant merchant are significant if you are not PCI compliant. Then, if you encounter a security breach on your own systems (where you are managing your own payment sites), you risk daily penalties as well as the loss of your ability to accept credit card payments.

We at Radiant Pay can assist in reducing your credit card processing costs. To negotiate cheaper rates, we'll speak with your acquiring bank on your behalf. We can arrange the best price for you because of our expertise.

This might result in annual savings of tens of thousands of dollars, depending on your processing volume. For a risk-free audit and assessment, get in touch with us immediately.

Continue to visit our blogs. This resource is updated frequently with details on bank fees, credit card fees, card networks, and a wealth of other helpful information pertaining to credit card processing.

The Increase In Acceptance Of Cryptocurrencies

Digital currency constitutes cryptocurrency. You will be accustomed to terms like Bitcoin, Ethereum, Dogecoin, etc. Every sort of digital money has its own set of regulations and value fluctuations. They are a substitute for cash, and many individuals now buy things from online shops using bitcoin or other digital currencies.

However, not all nations recognise cryptocurrencies as legal tender and are still in their infancy. Although some contend that cryptocurrencies have no actual value, they are traded every day all around the world. No matter where you go in the globe, it has the same worth and does not change according to exchange rates. Especially in the area of eCommerce, this makes it perfect for buying and selling.

A Plethora Of Benefits To The Customers & Business

As cryptocurrencies gain popularity, more individuals want to pay with them and look for businesses that accept them. We already know that cryptocurrencies have cheap transaction fees, which indicates that businesses can benefit from using them. Multiple payment methods are available through merchant accounts, and cryptocurrencies are being added. International currency is unaffected, and it restricts the kinds of card fees or other costs that both parties could have to pay. 

Additionally, cryptocurrency also safeguards data. Blockchain technology safeguards personal information and stops identity theft. Because of this, you need to think about the advantages and how they might alter in the future. As the value of cryptocurrencies rises over time, more and more companies are trying to figure out how to include them in their merchant services.

If your business is one of those left out of the crypto payments category, you should probably start thinking about how to take crypto payments to stay competitive.

Future Of Cryptocurrencies In Ecommerce

Cryptocurrency has unquestionably got a lot of room to develop. Blockchain innovations will let businesses modify their practices. They will alter their data storage practices, spending patterns, and purchasing behaviour. Implementing this method of payment on your merchant website may boost your company's overall performance because it will influence consumers' purchasing patterns. Global investment is being made. Future connectivity with the Cloud is a fantastic step toward the future.

How To Do It: Accept Cryptocurrencies As Payment

Approach platforms that offer customizable merchant services for your business. Payment processing is streamlined and made simpler using Radiant Pay. After decades of practice, we attained professional status. Due to the fact that we have numerous acquiring banking partners worldwide, we can set up a cryptocurrency merchant account with ease. You can get in touch with us right away at https://radiantpay.com/contact.html, and we'll help you choose the finest payment method for you.

At Radiant Pay, we have a focus on high-risk merchant accounts and a deep understanding of cryptocurrencies and their importance in the current market. Therefore, it is best advised that you choose a payment processor that meets your company's needs.

Payment Processing for Travel Business

The market capitalization of the travel sector was an astounding 9.25 billion dollars in 2019. The travel sector was badly hit by COVID-19 in 2020, but it is now beginning to recover, and by the end of 2022, it is anticipated to continue expanding exponentially. 

It can often be difficult to comprehend merchant accounts for the tourism business. As the world starts to open up for travel again following COVID-19, having dependable payment processing is becoming increasingly important.

When looking for payment processors, banks and processors frequently view travel merchant accounts as high-risk. Travel merchants need to be aware of this. Because of this, you ought to look for a high-risk credit card processor who is familiar with the travel sector. Find a high-risk credit card processor that is familiar with the specifics of the travel sector. 

The majority of the businesses in the travel sector routinely handle expensive transactions. For these kinds of businesses, a high-risk payment processing solution is essential.

Despite the trillion-dollar value of the travel business, fraud and frequent chargebacks cause it to lose around $25 billion yearly. In certain sectors of the travel business, chargebacks will happen more frequently. We at Radiant Pay are pleased to give your travel company our many years of high-risk credit card processing expertise. 

The development of technology and the widespread adoption of electronic payments have been extremely beneficial to the travel industry. Successful travel businesses are built on offering consumers dependable payment processing. Customers can conveniently make payments over the phone, online, or even in person at a retail location when they have a high-risk travel merchant account. You will be able to take payments anywhere in the world if you use a high-risk credit card processing solution like Radiant Pay

Let's look at what Radiant Pay can provide for you.

What Makes Radiant Pay the Best Option for Your Travel Merchant Account?

Are you hoping to increase the profits from your travel agency? For the processing of your payments, you've come to the proper location. Travel businesses throughout the world can utilize our payment processing to increase sales, fend off chargebacks, and advance their operations.

At Radiant pay, we sincerely care about the success of your travel company and recognize the need for dependable payment processing. We provide the following for each and every one of our travel merchant accounts:

• High-Volume Processing - We offer a payment gateway that is specifically made for high-risk businesses processing large volumes.

• Multi-currency - We recognize the significance of being able to accept many currencies.

• Fast Approval - The amount of time that travel merchants require to make sales is increased by our speedy approvals. We can offer approvals usually within 24 to 72 hours.

• Highly Competitive Rates - We provide competitive rates so that our lower processing costs will enable your company to expand profitably in the future.

• Secure - We have a secure payment gateway that is constantly checked for security flaws and vulnerabilities.

• Mobile Payments - Customers that pay with a mobile device can effortlessly send money to you.

We strive to make the application procedure for travel payment processing as simple as possible, and we will guide you through it from start to finish.

Click on the link to apply - https://radiantpay.com/contact.html. After submitting an application, a qualified specialist will get in touch with you and inform you of the next steps to take in order to launch your merchant account.

Trustworthy Account Services for Merchants

 Radiant Pay is dedicated to serving Merchant Payment Services irrespective of the size of your business and the risk involved in transactions. Any legal business offering memberships, products, or services online is welcome to apply for Merchant Account Services. We are best known for leveraging extensive experience and providing high-risk payment solutions to “hard-to-place” merchants.

Integrated payment solutions include Credit Card Processing Merchant Account, Offshore Merchant Account, High-Risk Processing, ACH & Check Processing, and Online Banking Payments. We assist businesses of every type and industry with merchant services that best define their goals thanks to our years of experience and in-depth knowledge in the credit card processing sector.

Got problem? We have solutions ready for you

We are responsible for offering you the best processor, one that offers first-rate merchant services and cutting-edge financial security solutions. As one of the top merchant account support companies, we have made a name for ourselves. Radiant Pay handles everything from assisting clients in managing their merchant accounts to addressing their needs with advanced payment options. Payment processing solutions simplification is a priority for Radiant Pay.

Industries we specialize in - 

You name it, and we'll have a ready payment solution to serve you—from matrimonial services to lottery pools to retail websites! The following are the main industries we serve:

Online Gaming

Gaming and gambling are traditional pastimes, but since the advent of the Internet, they have greatly benefited from commercial opportunities. It needs a gaming merchant account to manage its accounts and is steadily expanding globally. Due to the numerous local and international regulatory challenges that the gaming industry faces, it is a global and borderless industry. Our business offers the business reliable and adaptable payment methods, a safe solution that promotes the success of other merchants. Our business operates by and in fulfilment of national and local laws that guarantee a safe environment for the gambling industry.

Casino

Finding a trustworthy credit card processing bank that enables you to accept payments in all major currencies is a difficult task if you own a casino and operate an online casino gaming business. Some banks refuse the application due to the possibility of a high rate of card rejection, erratic reporting, and weekly payout. Therefore, our casino merchant account is for companies with a high payment risk. We are the casino industry's payment partners who encounter payment difficulties.

Forex

Banks that provide them with a merchant account for payment processing classify the forex servicing industry as "High-Risk." The high volume of transactions, chargebacks, frauds, and the highly regulated legal system is primarily to blame for this. Radiant Pay provides credit card processing solutions that help save the hard-earned money because it recognizes how unfair the economic and legal environment is to your company.

Adult

Online adult business owners now have access to a variety of new lucrative opportunities, including adult eStores, pornographic websites, dating services, adult novelty e-marketplaces, and much more. Since the establishments began providing their customers with online payment options, even conventional adult businesses like strip clubs and massage parlours have experienced explosive growth.

Due to their extensive compliance requirements, legalities, chargebacks, fraudulent transactions, and disputes, these businesses are categorized as High-Risk in the banking industry. Finding the right Adult Merchant Account service providers who comprehend the Adult industry and its manoeuvres become even more challenging for adult business owners as a result.

Online Dating

You've come to the right place if you manage a membership- or subscription-based online dating service and are looking for a reputable Payment Solutions Provider! At Radiant Pay, we not only provide tailored solutions for your needs that are specific to your industry but also guarantee ongoing support for your merchant accounts. We provide a wide range of services, including offshore merchant accounts, mobile payments, cryptocurrency payments, ACH & Cheque processing, voucher transaction processing, online banking, and credit card processing.

Finding the ideal Online Dating Merchant Account solution is hassle-free thanks to Radiant Pay's expertise, experience, and market knowledge.

Travel

The Wind Under Your Wings Could Be Radiant Pay's Payment Processing Solutions!

We are a payment processing company with a focus on the travel industry. To assist your company in scaling the heights of success, we offer a broad range of custom solutions. We offer you:

• a worldwide partner network of partner banks ready to accept payments from your company.

• expertise in offering scalable, customized payment solutions for your company.

Radiant Pay's payment solutions are appropriate for all sizes of travel businesses.

This is not all, though. With payment solutions made specifically for your business, Radiant Pay can assist legally operating online businesses in increasing their profits.

Does Your Business Fulfill Criteria For A Merchant Account?

The best way to find out if we serve you or what category your business falls into is to connect with Radiant Pay by clicking on https://radiantpay.com/contact.html

Top Reasons Why You Should Accept Cryptocurrency

 If you run an online business, why not accept a digital currency as well? While there has been some discussion about whether or not to accept cryptocurrencies, now is the time to take advantage of their flexibility and offer your customers another payment option.

Bitcoin and other digital assets are increasingly being used in everyday business transactions for a variety of reasons, including investment and operation. As with any other digital innovation, there are risks, but there are also substantial benefits. In practice, the list includes not only Bitcoin but also other cryptocurrencies.

 

Adopting the most delinquent technology in your business ensures that your brand is credible and acceptable. Radiant Pay offers competitive terms when it comes to establishing a cryptocurrency merchant account.

In this quick read, we'll go over the top 7 reasons why you should accept cryptocurrency into your business right now!

1. Transactions take place quickly.

There is no need to wait for cryptocurrency transactions. The transactions are frequently completed in real-time or in a matter of minutes. Whereas credit card payments can take days, if not weeks, to process. Multiple banks do not slow down the payment process. On the other hand, cryptocurrency allows for instantaneous transfers as well as simple, real-time, and secure money transfers.

2. Global Acceptance 

Because everyone in the world uses the same protocols to trade and invest in cryptocurrency, there is a global presence for crypto payments. As a result, customers will be able to pay more easily, and your online store will gain value.

3. No fraud, hacking, or chargebacks.

Security is the most important aspect of cryptocurrency payment processing. E-commerce businesses can also use a secure cryptocurrency payment gateway provided by payment processing service providers. Consequently, whether you run a brick-and-mortar store or an e-commerce site, a crypto payment processor can assist you in securing your transactions and customer data. 

When it comes to crypto payments, this makes it impossible for fraud to happen. Each transaction involving cryptocurrencies must be approved by both parties. As a result, there will be no more disputes, and chargebacks will be eliminated.

4. Acquire new customers.

Cryptocurrencies have a large following; more and more people are learning about them, adopting them, and investing in them. Accepting digital currencies will be extremely beneficial to your business as your customers become more familiar with and use cryptocurrencies. While this is still a niche market, it isn't going to be for long. It's better if you give your customers as many payment options as possible. You'll not only attract a larger customer base and more shoppers, but you'll also save money.

5. Enhances your Brand Awareness

Crypto payments are one of the best tech-savvy methods to accept payments from all over the world because they offer a more advanced and secure method than credit and debit payments. Payments made in cryptocurrency reflect well on your company. That means that if you start accepting cryptocurrency right now, you'll be ahead of the curve and ahead of the competition.

6. Accepting cryptocurrency allows you to save money.

Because cryptocurrencies are decentralized, they do not require every transaction to be verified by a bank. This means your company will no longer have to pay those fees, and you will no longer have to share your hard-earned money with financial institutions.

7. Lower Transaction Fees

The rates for accepting cryptocurrency transactions are substantially lower than those for debit and credit cards. Accepting digital currency instead is advantageous for small businesses because their transaction volume is low compared to large businesses, which get an advantage in negotiating a lower credit card transaction fee.

Cryptocurrencies have transformed the world of finance, with benefits resulting, in large, medium, and small businesses alike. When used correctly and, above all, with the right advice, digital assets can provide a significant financial and operational benefit to a business.

The Radiant Pay team is a powerhouse of brilliant minds who collaborate to deliver comprehensive solutions that are tailored specifically for your company! We have a broad understanding of payment dynamics in a variety of industries.

We can help your business qualify for Cryptocurrency acceptance thanks to our experience and scalable payment solutions. Offering cryptocurrency payment processing services allows you to accept Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dogecoin.

How to Get Approved for a Merchant Account

When determining whether a business is 'high-risk,' many factors are considered, including the nature of the enterprise or industry, customer types, transaction volumes, geographic location, and payment terms. 

Merchants dealing in the travel and cruise industries; Internet auctions; CBD; adult; forex; online gaming; casinos; and many more are all examples of high-risk merchants.

However, just because your business is high-risk does not mean you won't be able to open a merchant account. It does, however, imply that setting one up may be more difficult. Banks and independent sales organizations that provide merchant accounts will look at how long you've been in business, your credit history, and any previous merchant accounts you've had with other processors.

Because merchant account providers want assurance that you understand the business environment in which you operate, can identify the potential risks you face, know how to prevent or reduce fraud, and understand how to manage credit card acceptance, the length of time you've been in business matters. Regardless of risk, the only thing with first-hand business experience that can provide this kind of insight is.

Good credit history will help you establish your credibility as a potential merchant. If your previous processor terminated your merchant account because you defaulted on payments or had too many chargebacks, it may be difficult to open a new account in the future. And if you've previously had a well-maintained merchant account, it's a good sign of how you'll handle your new processor.

Follow these guidelines to improve your merchant account eligibility:

• Maintaining a good credit score: Before applying for a merchant account, remove any previous bankruptcies, late payments, or mortgages from your credit report. Contact a credit reporting bureau to obtain your credit report. Send them a letter explaining that these issues have been resolved and requesting that they be removed from your credit report. Having a good credit rating will make a lasting and favorable impression on a transaction processor, whether you own a small or large business.

• Previous merchant accounts, bankruptcies, liens, or judgments should all be disclosed: You improve your credibility by acknowledging the recent financial difficulties, and you may encounter one fewer barrier to opening a new merchant account. You can't keep information from the public record hidden.

• Be willing to pay higher fees if necessary: If you need to follow special rules or pay slightly higher fees to open a merchant account, go ahead and do it! It's worthwhile to offer your customers as many non-cash payment options as possible. It will aid in the generation of revenue and the stimulation of impulse purchases.

• Look for a credit card processor that best fits your requirements: Learn more about: 

• The discount rate: The fee paid to the merchant account provider as a percentage of each transaction. The processor may charge a higher percentage of your monthly charges if they are less than a certain amount.

• Transaction Fee: For each transaction processed, a flat fee is charged.

• Monthly minimum fees: If the merchant's discount rate and transaction fees do not add up to the monthly minimum specified on the original merchant application, the merchant account provider collects these fees from the merchant each month. If the monthly minimum volume is not met, it usually costs $25 per month.

• Reserve Fees: If your credit history is suspect, or if you own a new or high-risk business, you may be required to open a reserve account to protect the processor from future losses. Your reserve account is based on a percentage of your total sales.

• Chargeback Fees: These are the fees a processor charges to cover disputed charges. 

• E-commerce: If you're an e-commerce merchant, inquire about the costs of storefront solutions, such as shopping carts, Web hosting, payment gateways, virtual terminals, virtual checks, databases for order fulfillment, customer tracking, and a way to calculate tax and shipping charges, from your prospective processor.

• Gadgets: Point-of-sale terminals, printers, and peripherals, as well as installation fees, are included.

If you follow the steps outlined above, the process of opening a merchant account should go smoothly. And, in the end, getting approved will put you on the road to increasing your company's revenue. Operating a high-risk business does not rule out the possibility of accepting credit cards.

Regardless of the factors mentioned above, Radiant Pay is committed to providing you with payment processing solutions that are well-tailored to your business needs. We are a leading London-based agency providing payment solutions to the online business and all the e-commerce enterprises across all “legal” industries. Our clientele is not limited in terms of business size, risk status, or transaction volume and can provide tailored solutions for any type of client and their online businesses.

5 Ways to keep your Credit Card Payment Processors safe.

 Since credit card transactions are the most common ones attacked by fraudsters. Therefore it is necessary to keep the payment processing systems secure and leave no vulnerable points. Also, when it comes to cybersecurity merchants should undertake every step in their power by ; 

• Compliance with PCI 

PCI stands for Payment Card Industry. PCI compliance is technical and operational standards to which a business should adhere. It is a universal manual of standards of how to use, store and process card details. These standards help a business secure and protect information provided by customers during a credit card transaction. Non - compliance with these frameworks can put you in jeopardy where you are exposed to threats that you don’t wish for.

• EMV compliance

EMV (Europay, MasterCard, and Visa) enables accepting secured payment transactions. It includes a card with a metallic chip that holds cardholder information. Metallic chip cards possess better secure transactions than long stripe credit and debit cards. Special readers can only authenticate these cards. It is a security technology standard used everywhere for payments via credit card or debit card.

• End-to-end Encryption

In this method, it is made sure that the data remains enclosed from its origin until it reaches the destination, it ensures the path is not breached. During the journey, the information is transformed into code using encryption algorithms. It prevents any third party from accessing vital information.

• Tokenization

This method of securing the data is not as such stored in the system. In tokenization, the sensitive information is translated to randomly generated strings of characters and stores mapping in the database, access to this info is privileged to only authorised personnel. Payment Gateway providing tokenization can remarkably reduce the risk of fraud.

• Secure Sockets Layer

SSL acts as an additional wall of security that assists against hacking attacks. During the transfer of sensitive information, the browser switches to secure mode, provided an SSL certificate is installed on the server.

This generation's habits of shopping have shifted to online shopping. It is not in the hands of customers to select a Payment Processor but in the hands of the Merchant. Radiant Pay is the trusted and leading reliable Payment Solutions provider in London helping Merchants to identify a suitable solution.