High Risk Merchant Account at HighRiskPay.com information please?

[ActionMan]

Since 2023, PMAX has faced staffing shortages‌ despite receiving a high volume of applications. Many of these applications are either spam or‍ remain pending indefinitely (often due to the applicants' lack of interest or other client-related issues....etc)⁠
The company is⁣ based in Singapore and holds licenses in Hong Kong, Indonesia, Singapore, and China
Singapore.

And they have their own partners, for example in USA, they work directly︂ with discover, amex...etc, in china, it's true that they work with Ant group in general,︃ like most FI in that region, However, for other Asian regions, they leverage their own︄ licenses to partner directly with card networks

 

[JohnLocke]

That means PMAX only accept companies form regions in ASIA not Europe ?

 

[ActionMan]

They accept countries within the EU and, in fact, extend support to‍ most countries globally. However, there are specific prerequisites that must be satisfied to proceed in⁠ certain international regions.

A useful use case for example, for a forum like this, which⁤ has members from all over the world, it makes sense to provide them local/alt payment⁣ methods that they are comfortable with while you also get settled in your preferred currency,⁢ it increases customers retention and auth rates massively.
which is a key reason many of︀ my clients opt for PMAX and flutterwave.

 

[JohnLocke]

Please elaborate and give some examples?

 

[burden]

Has anyone here had experience with this particular high risk payment processor, highriskpay.com especially regarding‌ their reliability and the integration with WordPress plugins?

Given the acceptable terms of payouts, holdback,‍ and processing rate, how can I ensure that choosing this payment processor won't jeopardize my⁠ business or financial security, especially considering the high-risk nature of my business?

 

[JohnLocke]

I have discussed this processor with a few users from OCT and they have been satisfied‌ with this payment processor for their high risk business. However, when we tried to apply‍ they refused 🙂

 

[EliasIT]

They are US payment processor only, "We require a US entity and either a SSN‌ or ITIN" it's doable.

The company behind this is
https://www.netpaybankcard.com/
Wanted to clarify it if‍ some should be tempted to try them.

 

[clemens]

Very nice, now I just want to figure out how to get the ITIN for‌ my US LLC, any advise?

 

[ActionMan]

For example, if you‌ wish to incorporate UnionPay, Alipay, or WeChat as payment options, it's necessary to establish an‍ entity in Hong Kong. Additionally, processing card transactions for specific countries may require you to⁠ have either an entity in the respective region or a partnership with a company there.⁤ both options are doable and very easy to do.

 

[SoNewToAllShit]

What service provider to use for HK incorporation, is former NEAT now Rapyd still a‌ valid option for HK companies as an HK payment processor?
https://www.rapyd.net/

 

[bubbledouble]

at least they⁠ could tell people if they are approved or declined.

 

[JohnLocke]

Thank you, very⁠ useful.

 

[alain]

Do you know⁠ if they accept Delaware or New Mexico LLC's owned by non US citizen but have⁤ ITIN number?

 

[JohnLocke]

As they responded to me,‍ they do, but the email I received seemed more like a standard email than something⁠ written by someone who had thoroughly read through everything. However, I have sent them another⁤ email to get clarity.

 

[lory]

Have applied for an account with them with ITIN and US LLC - will report‌ back if they are doing processing for our business.

 

[JohnLocke]

Do you know if they approved all your documents right a way ?

 

[koohl]

We have been working with this processor for almost a year now and it's incredibly‌ cumbersome and seems like they don't really have control over their gateway. We only run‍ a small business through it with a turnover of 120K USD - if you want⁠ to use this service, be prepared for hassle and extra unnecessary work.

 

[JohnLocke]

Thank you for your review, is the company foreign owned with one you applied for‌ the account with this payment processor?

 

[erni]

did you find local US nominees for the company in US - where⁤ do you setup the company?

 

[clemens]

you are still satisfied with them ?