E-commerce -A business that conducts its commercial transactions over the internet. In e-commerce transactions, the payment process occurs through online payment “gateways” that integrate directly into the shopping cart or cashier.
The pricing is decided based on the application as we provide solutions to wide range of business from various sectors. This is calculated by considering various factors like volume, ticket size, previous processing history and geographical locations.
A rolling reserve is a risk management strategy to protect the merchant and its banks from potential loss due to chargebacks. A portion of the credit card volume processed will be held to cover for the potential business risk relating to chargebacks or withdrawals from the card holders. Generally, it’s kept at 10% for a period of 180days, but can vary on a case to case basis
Chargeback happens when a credit card transaction is disputed either at the request of the Issuer or by a card Holder, in either cases, it is considered a chargeback. When chargeback happens, the complete amount of the original transaction as well as a chargeback fee will be subtracted from the total sales volume before the payouts are initiated.
Some of the most common reasons for chargebacks may include:
*The merchandise received is damaged in transit and arrives broken.
*A cardholder/client returns the merchandise, but has failed to receive a refund.
*A cardholder disputes a transaction as a misuse/fraudulent use of their card.
A high-risk merchant account is a payment processing account for businesses considered to be of high risk to the banks due to various reasons. As the chances of chargebacks and fraud are high in these kinds of businesses, the rates are usually higher when compared to other industries falling into low risk.
A merchant that possibly has a high risk of fraud and chargebacks or those who use marketing tactics deemed questionable by traditional banks and payment processors is often labeled as a high risk merchant. There are certain industries that fall into this category includes but are not limited:
Dating, Free Trial, Multi-level Marketing (MLM), Bitcoin Mining, Adult, Forex, Binary, Membership Clubs, High Volume, International, Startups, Telemarketing, Software, Travel, Offshore, Travel, Psychic, Drug Paraphernalia, Coupon Programs, Direct Selling, Non-US Based International, Lotteries, Mail Order, TMF, Pawn Shops, Social Apps, Replica Merchandise, Extended Warranty, Vacation Rentals, Weapons and more.
For high risk merchant accounts, the processing charges are usually higher to manage any possible chances of fraud and chargebacks.
PCI Compliance is a requirement of The Payment Card Industry Data Security Standard (PCI DSS). The PCI DSS is a set of security standards to ensure a secure payment processing environment for all parties that accept, process, store or transmit payment card information.
PCI DSS requirements are guided by the Payment Card Industry Security Standards Council (PCI SSC), which continues to lead the evolving requirements. As emerging technologies and new payment methods are developed, this ensures the security of all the online transactions.
Any company that accepts, transmits or stores cardholder data must abide by the PCI DSS requirements and faces fines, fees and penalties for non-compliance. Compliance standards are divided into four merchant levels, which are determined according to Visa aggregate transaction volume over a period of 1year, including credit, debit and prepaid cards.
Organizations who use third party payment processors are still required to maintain PCI DSS compliance; however, some processors lessen the scope of PCI compliance by reducing risk exposure.
We do support startups and businesses with no previous online processing history.
We do not charge set up or application fees to get you started
It depends on you. Sign up is immediate, integration takes hours and PAYPOUND guarantees 5 working days for the delivery of your merchant account given that your site and documents meet compliance requirements. If you require some more information, feel free to reach out to our department and we will be happy to provide you with tips.
Payouts to your business account is decided based on the application. It is often weekly with 2weeks hold, as per the industry standards for high risk businesses.
Yes, it is imperative to have a active website which is informative to improve the chances of approval as the banks usually decline apps with no working website
ID proof of the director
Proof of address for all the directors/shareholders ( not older than 3 months)
Personal bank statement of the directors ( not older than 3 months)
Business registration certificate
Business bank statements ( not older than 3 months)
Previous processing statements ( Must be showing the chargebacks, refunds count)
Proof of domain ownership
Business license ( For business into Forex, Gaming, Cryptocurrency etc)
Please note that additional documents might be required if demanded by the acquiring bank at the time of risk evaluation.
We offer solutions to accept VISA and Mastercards to begin with. Other brands, and alternate payment options can be availed on request
The limits are decided by the bank as each business had a different model of charging the customer. This will be discussed at the time of approval
Yes, you can process refunds through PAYPOUND payment gateway.
With PAYPOUND, any product and its distinction are probable. If you’ve got any doubts or wish to consult us with the approval, please contact our sales team.
List of excluded businesses:
- Banned / illegal goods and services
- Drugs and related accessories (intoxicating substances)
- Pharmaceuticals and goods whose effect is doubtful
- Sale of tobacco products
- Sub-Acquiring / Merchant aggregation
- Massage parlors & Tattoo studios
- Nightclubs / Cabaret bars
- Debt collection agencies
- Church-like organizations or groups that do not have church status in Germany
- Charitable societies.
- Chain letters
- High-risk telemarketing companies.
- Health & Wellness Products
- ISP & Hosting Services
- Credit Repair
- Money Transfer
- Alcohol products & Beverages
- Car parts
- Game codes & hacks
- Phone locking services
- Multi-Level Marketing
PAYPOUND reserves the proper to say no any business model not mentioned above supported Compliance’s general evaluation and card network guidelines.
PAYPOUND provides a blended rate and a clear and transparent fees structure, without any hidden or extra fees in the long run. The blended rate may be a rate that takes into consideration all the traffic sources, therefore the same fee is applied no matter where the transaction comes from. Apart from our fees per transactions, please note that there’s a refund fee, chargeback fee, multiple currency fee and reserve fund adjusted to your monthly processed volume.
Ideally chargebacks should always be maintained under 1.5% to avoid any risks from the bank which can result in termination.
The restrictions on countries is decided based on the application as certain businesses are deemed illegal although it is permitted in the country the business is registerd in. The restricted list of countries will be supplied at the time of onboarding for your review.
Payouts are sent to your business checking account as per the decided schedule.
PAYPOUND actively fight fraud. PAYPOUND precisely explains which of the transaction is fraudulent and takes necessary actions eradicate the risk. Thanks to the knowledge coming directly from the cardboard Schemes, we are ready to defend you during a very efficient way.
Additionally, PAYPOUND provides you with suggestions on suspicious transactions, supplying you with the facility to influence it and choose whether certain actions are required.
Please contact your PAYPOUND dedicated account manager and provide the new banking information. We will ask you to supply a replacement bank letter/statement with updated information to verify your request . PAYPOUND will then arrange the checking account change directly with the bank.