Although you may have your payment gateway ready for transactions, offering payment processing services to a high-risk merchant vertical will always come with the problem in providing the underwriting needed for your merchants to receive a merchant identifier. — Here’s where iPayTotal comes in.
With a network of trusted and well-established relationships among acquirers and entities, iPayTotal has the infrastructure and the experience to assist you in becoming the “merchant on record”, which means that in using iPayTotal’s expertise and internally designed payment gateway along with its well-selected acquirer, your business can sign up to start processing merchant accounts easily and seamlessly.
Why “white label”?
There are a number or reasons why utilising the services of an established company to provide you with tried and tested services will be beneficial. Here are a few points to consider:
Saving you Time
To establish a relationship among acquirers takes time and effort. It is an ongoing relationship that needs to be nurtured and maintained. By using iPayTotal to allocate an appropriate acquirer, who will then provide a card payment service to your account, you cut through the process of underwriting and can then use that time for other, perhaps more important aspects of your business.
Saving you Money
The cost of employing specialists in this field can become quickly overwhelming; and not all employees will be dedicated enough to provide full customer care the way you would appreciate. iPayTotal is an established company in which relationship you will be the client. This means that your needs come first, which ultimately means your clients’ needs will be met with priority.
Saving your Reputation
If you want continued business as well as referred business, your reputation is key. Without knowing the ins and outs as well as you ought, it can become difficult and burdensome to supply excellent customer service. Having a company do this for you in a white-label capacity will enable you to take care of business in other ways with regard to client acquisition and client retention. iPayTotal will help you maintain a good reputation.
How does the process work?
There are good reasons why banking and financial institutions do not work with high-risk businesses. The main reason is due to chargebacks, or rather, the potential for chargebacks, which, for example, the adult industry, online gambling, CBD businesses, etc., are known to be at high risk for chargebacks or even the possibility of illegal activity.
When you sign up with iPayTotal to be your white-label services provider, the solution is already there for your high-risk clients who need a merchant account in order for card companies such as Visa and Mastercard to allow transactions on their website.
This is the process, which, if all goes well, can take twenty minutes to complete the first phase and then 24 hours to enable your business to go ‘live’. It’s that easy and straight-forward.
- Before we can enable your business to go ‘live’, there is a vetting process, which needs to be completed. This is what will occur: —
You will send your company’s website URL to us via Skype or whatever other medium you prefer.
We will need the URL so that it can be vetted accordingly for it to be underwritten.
What will be checked diligently on your URL is the following:
Ensure your website is secure
Ensure your website offers the services you say it does
Ensure there is zero illegal activity on the site
Ensure that there is nothing of ill repute regarding your business (our research team will uncover this).
Once this is done and duly approved, we will return your URL as an ‘approved URL’.
Your MID will then be assigned for integration, which will involve credit-card processing to be permitted on your website.
This process, as mentioned, can take twenty minutes.
The second and last phase of this process is the integration process, and it is done as follows: —
- We enable the two systems or the two gateways to be integrated properly so that they can communicate in a secure environment.
- We assign your merchant account to an appropriate acquirer.
- At this point we will go through a ‘test mode’ stage in which we will process a transaction to ensure all is running in good order.
- Once both parties agree to go ‘live’, the agreement is made, and your account becomes ‘live’ to process transactions immediately.
- This process takes 24 hours.
- Since our gateway will be integrated with your gateway, your clients will never know that the transactions, which occur in real-time, are processed by iPayTotal. It will seamlessly run through your gateway once it has been integrated accordingly.
- The systems ‘talk’ to each other, communicating the transactions safely and securely without your clients knowing that you are using a white-label company to do this for you.
You can make your business run smoother, you can save the time and the legwork in the particulars of your clients’ concerns, and by saving this time, you can devote it to other areas of your business such as sales and marketing or even added customer service.
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