Radhika Goyal
Stories (4/0)
High-Risk Merchants
High Risk Merchants A high-risk merchant account is required if you run an online business with a high risk of chargebacks and wish to process credit card transactions. But what exactly is a high-risk merchant account, and how can you tell whether you need one?
By Radhika Goyal2 years ago in Journal
Merchant Category Codes (MCC)
Merchant Category Codes (MCC) MCC Codes (merchant category codes) are provided to merchant accounts during the setup process to distinguish between different types of businesses and industries. Each industry has its own set of transaction patterns and risk levels (potential for fraud). Issuing banks utilise MCC codes to assess whether or not to accept a transaction. Online gambling, for example, is only legal in the states of Delaware, New Jersey, and Nevada. The code 7995 can be used to block transactions from states where online gaming is prohibited.
By Radhika Goyal2 years ago in Journal
APMs: Future of Payment Processing
Alternative payment methods include any sort of payment that is not made using cash or a bank-issued credit or debit card (APM). Mobile payments, digital wallets, prepaid cards, bank transfers, and other APMs are all available around the world.
By Radhika Goyal2 years ago in Journal
White Label Payment Gateway
A white label payment gateway is a gateway that has partnered with multiple merchants to offer its services. A white label payment gateway offers many benefits to its merchant partners, such as allowing the partner to have their branding on the login and website pages. In addition, it allows merchants to work with more providers that would otherwise be too tedious to maintain relationships with. Companies often choose white label payment gateway providers for these benefits.
By Radhika Goyal2 years ago in 01