Agreed
There are several payment gateways that allow you to accept credit card payments with minimal requirements for identity verification (KYC), so that there is no KYC at all, I don't know. I think they all use it for transactions and fraud prevention.
Okay, you got any names?
For example: 2Checkout (Verifone), Paddle, Square. But you need to understand that the level of payment volume also affects the verification requirements.
So understand this. If you accept payments without KYC, the money belongs to payment processor. There is no proof the money was paid to you for the services you provided. Kyc safeguards both merchant & processor.
At over 1% chargebacks they ban your account. It is very difficult to process payments like this. You'd need a new account every few days.
Who are we talking about?
Applies to any card payment processor. They all impose a maximum limit of 1% chargebacks because Visa and Mastercard impose this limit on payment processors.
You're talking about low risk though, right?
A high-risk payment processor does not mean a processor that accepts a higher percentage of chargebacks, but rather one that allows high-risk niches.
Actually, it does mean that, because the side effect of a high risk niche is that chargebacks tend to be higher. Not are, but tend to be.
It's far from a myth, I've provided high risk accounts all the way up to 4%.
And no payment processor in their right mind will show rates on their website. Guarantees come after the preapplication.
Since I've been on that forum (and others), I have NEVER seen anyone claim they found a solution for payment processing with chargebacks exceeding 1%. Instead, I’ve found hundreds - if not thousands - of people looking for such a processor but never finding one, and no one ever comes forward to name or list these processors that allow it.
Because unless we get them on a zero-liability vendor, we can get screwed big time. Even beyond just losing our agent agreements, we can lose EVERYTHING we own. It's just too much risk for the reward for most individuals.
Ok, but in this case, how do all those who run CPA offers with CC Submit operate? There are thousands of such offers across all affiliate networks. Who are the people that own these CPA offers? It’s hard for me to believe that just a handful of people control this entire empire. Who are the payment processors working with them? They surely have chargeback rates of 10-20%.
