4 Features to Look For in a High Risk Payment Gateway
June 17, 2023
High risk payment gateway technology captures credit card and ACH information from customers and transmits this information to payment processors for authorization.
The mere variety of payment gateway options for merchants is enormous. Each solution has slightly different features, benefits, and add-ons from which to choose from.
Against this background, trying to find the perfect fit for your company can often seem overwhelming. Listed below are four non-negotiable payment gateway features that each merchant should count on.
1. Advanced Fraud Protection
Among the main factors to consider when selecting a gateway is safety. If your high risk payment gateway does not come with PCI-compliant data security, your payment environment becomes an easy target for thieves and hackers.
In fact, online payment processing is a lot more vulnerable to hacking than their counterparts. This is because eCommerce trades are, for the most part, performed anonymously and remotely, which makes it much easier for thieves to exploit vulnerabilities in your payment processing environment.
Thus, you need to look at high risk payment gateway options that come with advanced fraud protection, otherwise you expose yourself to possible breaches, penalties, and lawsuits.
2. Seamless Integration
A high risk payment gateway like the one we have at PayKings, offers options to mesh seamlessly with a wide selection of online and offline tools to streamline your operations. These integration types include:
- ERP suites
- Accounting software
- CMS platforms
- Shopping carts
- POS software
With a payment gateway enabled, you don’t need to manually upgrade any of your documents. Every time you create a new sale on the internet, that trade is automatically reflected in the tools you’re currently using.
Payment processing integration is both cheaper and more accurate than manual data entry.
3. Detailed Reporting
Many merchants view their payment gateway as a virtual terminal that only captures incoming trades. So long as their systems operate, they don’t bother to peek under the hood.
That’s a mistake.
When setup correctly, your own payment gateway should offer detailed reporting. With this information at your fingertips, you are able to reconcile quicker and make better-informed decisions about your business.
This reporting has significantly improved with additional payment integration. That way, all your business tools operate in unison — letting you come up with a much richer comprehension of how your company is performing.
4. World-Class Service
Most high risk payment gateways come with at least some level of support, so if you run into any difficulties, you can call or email for assistance.
Since your payment gateway should also work together with the underlying processing, there are compelling reasons why you should keep everything under one roof. In other words, pick a payment processor that develops and maintains its own payment gateway.
Here we have compiled the key points:
- You will face fewer installation hassles
- Interoperability is less of an issue
- Updates are simpler to handle
And if something goes wrong, you need to call just one help desk for solutions.
Why High Risk Merchants Pick the PayKings Gateway
As stated earlier, there is not any lack of high risk payment gateway options on the market. And you should do your homework before committing to any particular solution.
Below are some reasons why PayKings is your preferred payment gateway supplier for countless retailers:
- Our payment gateway gains from the latest in PCI-compliant data protection. You may even allow additional security features, such as tokenization, payment pages and fraud management applications.
- We offer a seamless payment gateway — if you need standalone plugins or an open API that enables customization.
- Our payment processing comes with comprehensive reporting that eliminates any guesswork. You can easily view all your business’s metrics from a single, convenient dashboard.
- We provide world-class support for every one our alternatives — including merchant accounts, payment processing, and payment gateways which come standard with all our core offerings.
- Our pricing is extremely competitive, with payment options for each budget conceivable. These rates are much more appealing when you factor in the unmatched technologies that we provide.
June 17, 2023 | High Risk Merchant Account | Guest Post