Merchant Account for High Risk Payment Processing by Radiant Pay

Online Business ventures are segregated into many categories, but the most important kind of bifurcation is done by the amount of risk involved in the payment processing. The businesses are simply categorized on likelihood of the risk created to the payment acquiring banks. So the payment processing card association declares some online business as high risk or low risk based on certain factors.

High-risk business is considered risky due to extravagant and hidden chargeback thus leading to high processing fees. For Businesses like adult entertainment, casinos, tobacco etc. banks or financial institutes do not accept payments readily due to high credit card payment and frauds. High-risk business are made to sign strict and complex terms and are offered higher rates compared to low-risk payment processes accounts. Almost every bank accepts payment for low-risk business.

For running a high-riskbusiness you need to have a merchant account with an acquiring bank before accepting payments online. A lot of banks avoid processing electronic payments of high-risk business. Even if they do accept payment for this type of business they make them agree to an unconventional terms and conditions.

The solution to this problem can be solved by establishing a relationship with an online payment gateway provider. Here at radiant pay we provide best online payment gateway services suitable for your business. We monitor potential threats and help fighting the huge chargebacks, also we keep track of any suspicious transactions on a daily basis. We have the right tools directed towards your business models which help make your high-risk payment processing efficient and have clear benefits. We work for the longevity of your online business. We dedicate ourselves in providing you with processing solutions which are well customized and suitable for your business model and overcome all the above difficulties of a high-risk business.

How to Choose a Credit Card Processing Solution Provider

In today’s world digitalization has increased on so many levels that   you can never be too sure of being fully capable of providing proper and up-to-date services to your customers. One thing which has spread like a wildfire is online transactions through credit cards. Having a credit card processing solutions is a must today.  The service includes a merchant account and a wide range of credit card processing options, including in-person, online and mobile credit card processing. Some card processing services are specifically tailored to retail or e-commerce businesses and while some others are more flexible in the types of transactions they handle only.

Whether you are a newbie or a biggie in the industry, you don't want to miss out on accepting credit card payments from your customers/prospects. There are over 200 million netizens (online consumers) in Europe alone. And although the European market is nothing like the American market, more and more people have started using credit cards to satisfy their buying needs. These consumers are now familiar with   the usage of credit cards to make payments, whether it is the household grocery, or a swanky new car. Every person in the family from children to grandparent knows how to use credit cards for online shopping whether it be for movies advance booking, shopping on an E-commerce website, booking a holiday and million other things. So it is very important to have a credit card processing service available for accepting online payment not only from a particular area or a city or a country but from all around the world. For this you need to choose a merchant account provider who will help accepting your online payments and smoothly handling all the credit card transactions.

While choosing a credit card processing service provider you should look for features that differentiate the services, including costs and how the processing overhead is divided between the customer and the merchant. With some services, there’s a monthly subscription fee in addition to per-transaction costs.

We here at Radiant Pay provide a seamless credit cardpayment processing solutions and offer a merchant account which helps you to accept online transactions easily all around the world.

Know About the Check Processing Services

Processing checks is a time consuming and tedious job as everyday financial institutions get thousands of checks that need to be processed and cleared for their clients. A check is essentially an order given to the bank by its client to withdraw money from the client’s account and deposit money to the intended receiver’s account. It’s a legal document or form where the bank withdraws money from a person’s account and then transfers the money to the account of the individual to whom the check has been issued. The following are some of the check processing services that are needed to complete this transaction:

Check Processing Services

·         Checking all the data entry on the checks that are available to processing staff in hardcopy, scanned formats, and checks have received through internet, phone and fax.

·         The next step in processing the check is the services that scan all the important data on the check like bank account numbers, check numbers and routing number to name a few details on the check. The information is backed up and security measures are taken to ensure the confidentiality of the documents.

·         Check processing services also include verification of the check and the transaction. This means the validity of the check and the validity of the businesses and individuals issuing the check have to be verified before transacting a check. Similarly, the actual information regarding the transaction has to be verified during the task of processing a check.

·         Check processing services include processing recurring checks and taking care of the processing and ensuring payments made on time for these everyday transactions of receiving checks.

·         Another service provided by check processing services is re-depositing bounced checks. Checks can bounce because of many reasons and these checks are also processed by the processing units.

Conclusion

Check processing services are provided with stringent data security systems, fast turnaround times and in a cost-effective way. Millions of checks are processed every day and above-mentioned are some of the check processing services during this process.

online banking payments

What is ACH payment processing and how it works

ACH is Automated Clearing House which is a method of payment popular with financial institutions. Automated Clearing House or ACH payments are payments done through a network which coordinates electronic payments and electronic automated money transfers. ACH is a means for initiating and finalizing transactions directly to and from the bank accounts. The following are the details of the process of ACH transactions and how it works:

The Process of ACH Transactions

·         The first step of an ACH transaction is imputing the transaction into the web portal of the ACH website. The transaction is imputed into the system after it is approved by the ACH user. The clients that input the information of the transaction into the system is called an originator.

·         At the end of the business day, all the transactions of the day are compiled and sent to an ODFI. An ODFI is an originating depository financial institution. An ODFI is essentially a bank. After compiling all the transactions at the ODFI the transactions are then sent to an ACH operator where the ACH operator facility is used as a clearing facility for the transactions.

·         The ACH operator then sends the transactions to the various RDFIs or receiving depository financial institutions or banks receiving the transactions. These RDFIs notify the “receivers” of the transaction which is the people whom the money is sent to via the transaction and who are customers of the RDFIs where the transaction is sent to by the ACH operator.

·         The receiver is the person who authorized the originator to make the transaction via ACH payment method. The transaction has to be completed within a timeframe after which the money if not transacted is sent back to the originator through the same route.

Conclusion

The entire process of an ACH payment takes 3-6 working days and this is a smart method of transaction and payment processing which is used by people all over the world. This method is a safe and reliable way to transact money through the banking system.

ACH and check processing

Expand Your Travel Business by Integrating an Online Travel Merchant Accounts

Any kind of online businesses requires a merchant account to grow the business. The online travel business is one of the leading domains that is concurring the e-commerce platform. This is possible only due to the merchant account that allows the agencies to book a flight, train and bus tickets in just one click. The online travel business requires specific bank account that can hold funds paid from the credit cards, debit cards; online banking etc means any kind of online payment method.

The travel agency requires specific kind of software that acts as an interface between the POS and payment portal. When the customer makes a payment using the debit or credit card, money currently debited from the customer’s account and credited to travel business merchant account. From that account, the money can be transferred to the normal business account using the standard transfer protocol.

The perfect merchant account can make the transaction easier at a most critical moment. In travel businesses, travel management of the transportation, different location, and people are critical elements. For financial transactions, a travel merchant account is the best solution.

How does this merchant account work?

Booking of flights, buses, trains, hotels, etc. through an online travel business has been increased and due to this, the number of transaction has been increased. Often, online business does not get the merchant account from the bank so easily but travel software definitely needs a payment gateway for its survival to send payment worldwide.

Through the merchant account, a business can accept all the credit cards worldwide, moreover, it works in real-time, reduces the deposit time, protects from the inadequate fund transfer etc. most of the bank suggests the online travel business for the direct merchant account for the same benefits.

The Growing Attraction of Online Casino Games and the Need of Merchant Account

The attraction of online casino games is thriving on the internet, one do not require traveling to casino for participating in casino games. Online casino games is increasing fame of pokers as well as it added the status of online casino gaming sites, with the emerge of online casino games. It was very simple for people to play at these casino games online and they are becoming popular rapidly. This is the core reason merchants need a strong payment processor to accept payments. Casino industry falls under high-risk business category thus need a high-risk merchant account which allows the casino owners to accept high-volume of credit card and debit transaction. By availing casino merchant account, merchants are giving seamless payment solutions to the customers that will allow growing the business internationally.

Online casino games is very popular and gives you so much of fun that will add best experience to enjoy these online games. Casino games is the most clearable games in the world, and about 70% of people around the world are playing online casino games.

There are many merchants who are opting for online casino games sites and give precise experience. Nowadays traditional casino games seems to get online casino sites and will discover high growth of business.

Casino online gives you access to a lot of gambling sites on the internet. Minors are not allowed to access of these online casino games, If you're 21 the legal age to access online casino games then you are ready to start with the online casino games. You should know that playing at any online casino site brings about many advantages for the players. With the growing attraction of online casino games this industry face high risk of frauds and chargebacks. For surviving in online casino industry one need to generate high revenue from sales.

If you are online, casino business does not have casino merchant account, than you are missing high business sales. Getting a merchant solution for casino allows you to accept credit and debit cards seamlessly, thus gives you higher sales and profit.

Online casino merchant account solutions are available with Radiant Pay to all size casinos. Our company specialization is in providing best merchant account facilities to our local as well as offshore customers with high-risk management.

What are the Benefits of Crypto-Currency Merchant Account?

The new concept of cryptocurrency trading is becoming popular among merchants. Being trading in cryptocurrency is very beneficial and gives you extra-ordinary benefits. Introduced by Satoshi Nakamoto as a side product became a hit.

The medium of exchange currency used in the block chain created and stored. This is done through encryption techniques in order to control the creation and verification of the currency executed. Bitcoin was the first cryptocurrency which came into reality.

Cryptocurrency is now being running the virtual world, the complete process of the virtual transaction is run on a database and the identity of the real person cannot be determined also, there is no centralized authority which governs the trading of cryptocurrency.

Cryptocurrency is a type of digital money which runs on coding techniques. It is based on a peer-to-peer control system. Let us now understand how one can be benefitted by trading in this market; you can accept crypto currency payments with Merchant Account Solutions offered by Radiant Pay.

When You Simply Have Crypto Currency Merchant Account, you probably eliminates the risk of Fraud and Chargebacks.

Cannot be retreated or fake: Though many people can deny this that online transactions are done are permanent, but in the crypto merchant account  best thing about cryptocurrencies is that once the transaction is completed and confirm, a new block gets added to the block chain and then the transaction cannot be copied. You become the owner of that block and your transaction remains safe and secure.

Online transactions: Suitable for everyone sitting in any part of the world to process the transaction, in cryptocurrency merchant account solutions it eases the speed of transaction as compared to other real time processing where a merchant or buyer needs third party confirmation to buy and product and services. In Crypto Trading, you only need a computer and a prospective buyer or seller in case of cryptocurrency. This concept is easy, speedy and filled with the prospects of ROI.

The fee is low per transaction: There is low or no fee taken by the miners during the transactions as this is taken care of by the network.

Accept cryptocurrency payments on your website or stores wherever you need it. Create merchant account for Crypto Payments with Radiant Pay.