UK based High Risk Payment Gateways

[robpicken]

Hi,

Does anybody know of a payment gateway & merchant account provider that deals with UK customers that takes high risk ventures, without the standard WorldPay 8 week settlement period?

I've spoke to WorldPay they refuse to offer anything less than 8 weeks, even though i've had an account with them for quite a while.

This morning i've spoke to optimal payments, who have offered to cover half of the project (B2B services) with a 2 week settlement period, but won't touch the other part (B2C) as their risk assessment people consider it an MLM or 3rd party processing product / service.

The only option i've found is to use the likes of paypal / nochex etc to take payment for this product, but as in the UK you can't turn off the "customer has to have paypal account" requirement, its not really a viable option, payment by cheque is another option, but will people by an online product then pay by cheque? I doubt 100% will.

If anybody has an idea then please let me know, this is causing me a serious headache now

Thanks,

[discountdomains]

I use www.paypal.com and worldpay.

With paypal you get the cash instantly but they do charge 4.9% commission.

I have not found that customer needs to open a paypal account a partilcular problem in the UK or US.

Clare

[discountdomains]

I use www.paypal.com and worldpay.

With paypal you get the cash instantly but they do charge 4.9% commission.

Clare

[robpicken]

Hi Clare,

Thanks for the reply, i decided to put this problem into the hands of my accountant! lol It was giving me too much of a headache.

Anyway according to his financial predictions we may be able to get away with using WorldPay for the problematic product afterall, as the sales line isn't that great and will not have a major impact on the cashflow.

WorldPay have implied that they'll cover it, but now i'm pressing them for a new installation id, they have gone quiet, so i'll have to hold out and see.

Thanks

[yankeeman]

We maintain a network of relationships, with associates globally, ensuring our ability to offer a payments processing solution for every type of account you may seek to place.

Note: Proper Due Diligence, Vetting, Documentation, Investigation and Confirmation is required, expected, and will be conducted. We deal in “High Risk”, but, we expect to know exactly whom we are doing business with, who their clients are, what the business in question is all about, and the history of all parties concerned. An NDA and all appropriate contracts and supporting documentation is an absolute must.

[realestate]

what is a settlement period? we will get our money (paid for www.house.info ads ) from worldpay in about a week (after payments), i believe.

[robpicken]

you get your money from worldpay in a week! If thats true i'm seriously envious, they keep my money for 8 weeks before giving it to me

The settlement period is the length of time it takes for worldpay to deposit the money in your account from the date of purchase.

For me, if somebody buys a product say on May 1st 2004, then i don't get that money depositied into my bank account until 8 weeks later - serious pain when it comes to cashflow for new businesses even more so when taking money out of it to pay wages!!!

[kellz123]

I'm sure paypal will work fine but I rather go with a merchant account. I am currently using cardservicesales.com for my credit card processing and they've worked out great. You can also try searching on google.com for merchant processors which offer service in UK.