Struggled a lot with high-risk business payment gateways – happy to share what I learned

nadinehuttner98 said:

Looks like ad's

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ibneadam said:

Hello all,
I just wanted to share my experience with this as I know many will face these same issues.
My business is an online casino/lottery type business. From day one I had lots of issues but the biggest was finding a payment processor that would accept us. We were instantly declined by mainstream providers like Stripe and PayPal.
I then tried a few high risk processors. Some of them accepted our account but then started to freeze our payouts for long periods of time with varying excuses. A couple ended up being unreliable and caused us some issues. It was very stressful and held our business back.
Eventually we got our issues sorted and now we can process payments without any issues.
Many of you will be facing similar issues. Rejection, frozen accounts, delayed payouts and not knowing which processors are reliable for restricted industries.
If you have any questions or issues with payments feel free to ask! I’ll do my best to help based on my experience

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automated warm hole said:

What do you think is the best way to monetize my 10 year old, personal stripe account with transaction history? Where would one go to offer their account for safe renting?

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ibneadam said:

You should not rent your Stripe account. Even if they promise to treat your account with care, your account can be frozen by Stripe if they will do any high risk things on it or receive chargebacks. As the legal account holder you will be responsible. Many people lose money or get banned. So I dont think so its a good idea. It is safer to use your account yourself or not use it at all. Usually the risks of renting your account outweigh any money you may make.

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automated warm hole said:

Doesn't it depend on how you use your account and having a trustworthy person that understands a stripe account can be used long-term for much more money.

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