High-Risk Merchant Account Singapore

 

High-Risk Merchant Account

 Singapore Offers Secure Deal For

 High-Risk Enterprises

If you're looking for an authentic High-Risk Merchant Account Singapore, you've come to the correct place. As “PayCly,” we are a professional high-risk merchant account service provider in Singapore, offering secure and reliable merchant services.

We have a great reputation among our clients worldwide because of our extensive experience in delivering high-risk merchant services. From application to approval, our expert team of high-risk payment gateways supports you through every step of the high-risk merchant account Singapore application process.

Here, in this blog, we will discuss the high-risk merchant account Singapore. So, let’s start with the simple definition of a high-risk merchant account Singapore.

What Is High-risk Merchant Account Singapore?

A high-risk merchant account is a business bank account for businesses classified as high-risk. You can also say that a high-risk merchant account is a payment processing account for enterprises that banks deem high-risk. Enterprises with a high chargeback rate must pay higher merchant service fees since they are more likely to experience chargebacks.

The bank may place a rolling reserve on your account if your enterprise has a high risk of chargebacks or if the history reveals numerous chargebacks and refunds. The sum is designated to cover the potential for chargebacks or fraud. The amount of a rolling reserve varies based on the payment processor and is often between 5 and 15%. The reserve is kept for six months to a year, depending on the processing history.

Why do Some Merchants Need a High-Risk Merchant Account?

The acquiring bank or financial service provider may categorize a merchant as high-risk for several reasons. Although each service provider has their own set of guidelines for high-risk situations, in general, the following can be regarded as potentially risky:

• Loss of a prior merchant processor account due to a high number of chargebacks

• Working in a sector with a high chargeback rate

• Selling high-value transactions

• Offering subscription-based goods or services

• An international merchant doing business in nations where chargeback risk is high (typically anywhere outside Canada, the US, Australia, European Union, Japan, South Korea, or Singapore)

• Multi-currency company

• Unfavourable credit history

A high-risk merchant account Singapore may be necessary for some businesses, goods, and services. Additionally, the goods or services you offer could affect your risk profile. Some of the high-risk enterprises are -

• Forex Industries

• Adult Products or services

• Pharmaceuticals

• Dating Services

• E-cigarettes

• Online gaming

• Bitcoins and many more

Once your business is considered a high-risk business, you should look for a specialized service provider with experience in dealing with your business types. One such type of service provider in Singapore is PayCly. PayCly is one of Southeast Asia's best payment service providers, especially in Singapore. So, you can choose PayCly for your high-risk merchant account Singapore.

How To Apply For the High-risk Merchant Account in Singapore?

You must complete the application form online to obtain a high-risk merchant account Singapore with PayCly. The process of applying for a high-risk merchant account Singapore with PayCly is very simple and hassle-free.

As “PayCly,” we have a contract with most of the acquiring banks and financial service providers, so we offer you the bank that matches your business needs. With us, the chance of getting a high-risk merchant account Singapore increases, but you must submit the proper documents as a merchant. Once your high-risk merchant account Singapore gets approved by the acquiring bank, you can hassle-free start processing online payments.

Here is what you should prepare before applying for a high-risk merchant account Singapore:

• Incorporation Certificate

• Organization Structure Chart

• Identity proof such as a passport or driving license

• Processing history from the last six months

• A license number and name of the organization that issued the license number

• Full details of businesses

• Merchant identification proof

• Social Security Number

Along with these documents, you should also prepare your websites. The online websites must contain the following pages -

• Private Policy Page

• Terms & Conditions Page

• Display the company's legal name and logo

• Contact details such as phone no or email id

• Footer with the company name

• Return and refund policy page

• The website is secured with an SSL certificate and uses HTTPS

Services offered by PayCly For High-Risk Merchant Account Singapore?

As PayCly deals with high-risk businesses, so it offers you many services in Singapore. Some of its best services in Singapore are -

Payment Processing Security:

With us, the merchant can get the PCI DSS Level 1 compliance to ensure that all transactions are safe. We also offer chargeback and anti-fraud tools to help high-risk merchants be more protective with their sales.

Simple To Use:

Our payment options are rapidly and easily integrated into any website, thanks to our flexible API solutions.

Real-time Authorization:

We allow you to accept all major credit and debit cards via a live, real-time payment processing gateway and virtual terminal.

Flexible Payment Solutions:

Multiple payment options are available, including regular billing and quick payment cycles.

Professional Services:

Our entire crew has experience in the payment sector and is available to provide Singaporean merchants with the best advice and services for their companies.

High Approval Rates:

We typically approve your merchant's accounts even if your credit is bad or you are on the Match List. We evaluate each merchant application on an individual basis.

Low Rates:

By providing some of the lowest rates in the market and extremely minimal fees, we can help you save significant money. Please be aware that prices are subject to a thorough evaluation of your business model.

Worldwide Coverage:

With our high-risk merchant account Singapore, you can easily expand your business at the global label. We permit money transfers in any currency.

Absent volume caps:

High-risk merchants can easily conduct as many transactions as they like with us because they don't have to worry about a monthly target volume.

Low chance of account terminations:

With us, your high-risk merchant accounts Singapore are secure because we are aware that it may happen. Thus, the account won't be terminated due to a high chargeback rate, unlike regular merchant accounts where their account may be closed if they encounter a considerable amount of chargebacks (greater than 1%).

What Industries Does PayCly Deal With In Singapore?

Currently, numerous service providers are available, but not all assist every business, particularly high-risk industries. No need to worry, though.

Here comes the role of an independent payment service provider like PayCly. PayCly is the greatest because of its services, support from the industry, and all other cutting-edge features, not because it makes a big deal out of it. Numerous high-risk industries are served by PayCly's credit card processing and high-risk merchant accounts in Singapore, including:

Final Thoughts -

We all live in a digital age where everything, including payments, is done electronically. No one carries the necessary cash to make the payments today. Singapore is the epicentre of online commerce; thus, businesses must provide their clients with the greatest payment options. They can grow their online businesses and make ever-increasing profits thanks to it.

Only high-risk companies with high-risk merchant accounts can accept payments online. However, remember that high-risk businesses can never use a regular merchant account. Finding a solution provider that works with high-risk companies like PayCly might be beneficial.

PayCly can be your service provider because it has experience working with high-risk companies. Your high-risk merchant account can be quickly accepted with PayCly, but you must submit the proper documents, which we already discussed above.

Contact the expert team through mail - info@paycly.com or live chat - https://paycly.com/apply-now.php right now to learn more about the high-risk merchant account Singapore.

Original Content - https://www.linkedin.com/pulse/high-risk-merchant-account-singapore-paycly-payment-gateway-service/