UK Ltd non-resident director Ecommerce payment processor needed

[imalik]

Hi all,

I am a non-resident director for a UK Ltd company and I'm looking to accept card payments for my shopify/woocommerce stores, I mainly sell to the US Market and my product is considered risky to some (hearing aids) even though we have good customer service and the customer reviews on the product are kinda good too.

Paypal limited the account with no explanation and held the money for 180 days. and Stripe rejected the application due to it being high risk to them..

So I have 2 questions,

Can I use 2Checkout with a UK company as a non UK resident? I have a Transferwise bank account.

If not, what other options do I have? I prefer to receive payments in USD and withdraw them into my USD Bank Account from Transferwise

 

[NicolasMaduro]

do you have any processing history and whats your chargeback%

 

[imalik]

NicolasMaduro said:
do you have any processing history and whats your chargeback%
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Yes, been using Paypal for a while and the chargeback rate is at around 5%

 

[NicolasMaduro]

imalik said:
Yes, been using Paypal for a while and the chargeback rate is at around 5%
Click to expand...

well theres your problem 🙂 no payment processor will allow you with a cb% over 1%.

 

[Sols]

Why are your chargebacks so high?

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This is the probably the answer to your question.

 

[imalik]

Sols said:
Why are your chargebacks so high?
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Mainly due to having a private labelled packaging as the product image (using Photoshop and a Mockup template) while they are receiving the products in their original packaging without the store's branding being present anywhere (We will fix this on the next batch of devices where they will have the currently photoshopped packaging), as for reasons related to product's actual quality I believe those are somewhere around 2% or below.

 

[JohnLocke]

Are the products you sell copyrighted and you sell replications of it?

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[imalik]

Admin said:
Are the products you sell copyrighted and you sell replications of it?
Click to expand...

The products are not copyrighted and are not replicas.

 

[JohnLocke]

imalik said:
Can I use 2Checkout with a UK company as a non UK resident? I have a Transferwise bank account.
Click to expand...

That may work, I'm not sure if 2co or TW has anyt troubles to send or receive money, you may check with them.

If you can get your CB ratio down it may not be a problem to apply with any of the many payment processors in a foreign owned UK LTD setup.

There is RBS WorldPay, Instabill and many others you can find here List of Banks, EMI's, Payment processors and BTC to FIAT institutions. and as usual there is a huge RESOURCE section in the mentor group with lots of payment processors.

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[imalik]

Admin said:
That may work, I'm not sure if 2co or TW has anyt troubles to send or receive money, you may check with them.

If you can get your CB ratio down it may not be a problem to apply with any of the many payment processors in a foreign owned UK LTD setup.

There is RBS WorldPay, Instabill and many others you can find here List of Banks, EMI's, Payment processors and BTC to FIAT institutions. and as usual there is a huge RESOURCE section in the mentor group with lots of payment processors.
Click to expand...

I don't have any issues with TW, I am just wondering if 2CO would accept the product since it is categorized as a Medical Device, and if they would open a merchant account / process payments for a non resident UK Ltd setup?

I'll take a look at Instabill and Worldpay FIS, Thanks for the recommendation!

 

[JohnLocke]

You should ask the payment processor directly no one here on the forum can asnwer that question because all psp's make their own control of a business case and make decisions based on it.

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[cryptounions]

imalik said:
Hi all,

I am a non-resident director for a UK Ltd company and I'm looking to accept card payments for my shopify/woocommerce stores, I mainly sell to the US Market and my product is considered risky to some (hearing aids) even though we have good customer service and the customer reviews on the product are kinda good too.

Paypal limited the account with no explanation and held the money for 180 days. and Stripe rejected the application due to it being high risk to them..

So I have 2 questions,

Can I use 2Checkout with a UK company as a non UK resident? I have a Transferwise bank account.

If not, what other options do I have? I prefer to receive payments in USD and withdraw them into my USD Bank Account from Transferwise
Click to expand...

if you can accept high processing fee, you still have some options, BTW, what's your monthly volume?

 

[imalik]

cryptounions said:
if you can accept high processing fee, you still have some options, BTW, what's your monthly volume?
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I'd love it if you can share with me some of these options, It is always better to have more options.

monthly volume ranges from $40-$100k

 

[NicolasMaduro]

imalik said:
I'd love it if you can share with me some of these options, It is always better to have more options.

monthly volume ranges from $40-$100k
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Watch your back champ. This is how a lot of people get scammed. They look for "high risk processors". However, it´s not something that exists. With your extremely high chargebackrate there is literally 0 chance any processor is gonna take you on. Its simple; VISA and MasterCard require you to have less than 1% chargeback rate.

And no offence. Only scammers have 5-7% chargeback rate. So something you are doing must be shady.

 

[cryptounions]

imalik said:
I'd love it if you can share with me some of these options, It is always better to have more options.

monthly volume ranges from $40-$100k
Click to expand...

sure,no problem,i just need your email address , then you can take a look.

 

[cryptounions]

NicolasMaduro said:
Watch your back champ. This is how a lot of people get scammed. They look for "high risk processors". However, it´s not something that exists. With your extremely high chargebackrate there is literally 0 chance any processor is gonna take you on. Its simple; VISA and MasterCard require you to have less than 1% chargeback rate.

And no offence. Only scammers have 5-7% chargeback rate. So something you are doing must be shady.
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that's true, it's so rare to find one payment processor which can tolerate so high cb rate.

 

[NicolasMaduro]

cryptounions said:
that's true, it's so rare to find one payment processor which can tolerate so high cb rate.
Click to expand...

Ehm no, its not rare, its impossible. And you are obviously a scammer.

 

[Sols]

NicolasMaduro said:
Ehm no, its not rare, its impossible.
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While it's probably impossible for Mr. imalik here, it's not impossible in general. But it's hard and requires good connections to processors.

Put it this way, 5% chargebacks on 100,000 USD a month is manageable if it's processed on a miscoded/aggregated MID with a few million from other sources (gambling, adult, forex/crypto, and other industries that often use these solutions). 5,000 out of 100,000 will raise questions. 5,000 out of 10,000,000 is nothing and will stay undetected if the other volumes on the MID are managed properly.

In return, the processor will usually ask for enormous processing fees (almost always over 10%).

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This is the probably the answer to your question.