The high risk payment processing mirage

[JohnnyDoe]

"Somewhat safe" - I don't know much about cloaking, but wouldn't the "kosher", presentable payment website get chargebacks which can lead to an account suspension as well? I can see it being a solution for the adult entertainment business, but I don't see how it gets around an unsatisfied customer in other fields.

It doesn't, it's just a way to get accepted.
It's essential that you process refunds immediately, without any question asked, in order to minimize disputes. Despite all the care that you will put into the processing side of the business, eventually something will go wrong and you will have to start from scratch. Which is why you should always have 1-2 backups ready.

 

[chicharito]

I’m heading to an affiliates conference soon, and I’ve already received messages from payment processors, usually the larger companies. These guys have such nice websites, and it almost appears like they are somehow different from the small PSP operator that OffshoreCorpTalk is full of.

I don’t see how any of them have resolved the issues stated in this post, even though they argue that their solution “is perfectly compliant when it comes to the VAMP and SMMP debacle with Visa and Mastercard payments”. High-risk is still high-risk even if you add lipstick to a pig.

Ex: I got a message from payabl. They hire a goofy “compliance officer” to make posts about the exact problem this forum mentions:

Unmasking the Threat: Understanding Transaction Laundering and Safeguarding the Financial Ecosystem | payabl.com

And yet, I have a feeling that they’re just the cleanest shirt in the dirty laundry. All I see is the same business model that relies on a strong acquirer bank relationship, and an army of lawyers and a “compliance team” to jump through all the bank’s hoops, just to keep their customer onboarding.

Will they be the last shoe to fall? Kinda like the offshore banking sector dried up… and only the big players ended up surviving long enough until they too were closed down. I have a gut feeling that they’re now all trying to sell to the larger players in the industry, and the SMEs will need to work through fiat-to-crypto solutions.

 

[jafo]

I’m heading to an affiliates conference soon, and I’ve already received messages from payment processors, usually the larger companies. These guys have such nice websites, and it almost appears like they are somehow different from the small PSP operator that OffshoreCorpTalk is full of.

I don’t see how any of them have resolved the issues stated in this post, even though they argue that their solution “is perfectly compliant when it comes to the VAMP and SMMP debacle with Visa and Mastercard payments”. High-risk is still high-risk even if you add lipstick to a pig.

Ex: I got a message from payabl. They hire a goofy “compliance officer” to make posts about the exact problem this forum mentions:

Unmasking the Threat: Understanding Transaction Laundering and Safeguarding the Financial Ecosystem | payabl.com

And yet, I have a feeling that they’re just the cleanest shirt in the dirty laundry. All I see is the same business model that relies on a strong acquirer bank relationship, and an army of lawyers and a “compliance team” to jump through all the bank’s hoops, just to keep their customer onboarding.

Will they be the last shoe to fall? Kinda like the offshore banking sector dried up… and only the big players ended up surviving long enough until they too were closed down. I have a gut feeling that they’re now all trying to sell to the larger players in the industry, and the SMEs will need to work through fiat-to-crypto solutions.

After you attend your affiliate conference, can you then share which one it was and tell us how it went? I, for one, would truly appreciate this.

Thank you for sharing!

PS. Ask them, if you have the opportunity, what they think of crypto payments. Right now, most (+95%) of my non-wholesale clients pay with crypto. They WANT to pay with crypto. I wonder how the industry is dealing with this new "threat/competitor" now.