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]

Yes, been using Paypal for a while and the chargeback rate is at around 5%‍

 

[NicolasMaduro]

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

 

[Sols]

Why are your chargebacks so high?

 

[imalik]

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?

 

[imalik]

The products are not copyrighted and are not replicas.

 

[JohnLocke]

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.

 

[imalik]

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

I'll take a look at Instabill and Worldpay︃ 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.

 

[cryptounions]

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

 

[imalik]

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]

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]

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

 

[cryptounions]

that's true, it's so rare to find one payment processor which can⁢ tolerate so high cb rate.

 

[NicolasMaduro]

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

 

[Sols]

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 usually︀ ask for enormous processing fees (almost always over 10%).