How to get around this business payment processing

Informeduser said:

It's not that you "might" but you do fall under a high risk category.

User: servant of creed, the last statement the user has mentioned is very possible cause consider the disputes or chargebacks that will or might occur. That's why getting a high risk psp or mid is better and I have worked with a few.

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Servant of the Creed said:

Crypto has no chargeback or fraud claims. It is the best payment method he can have.

Something OP can clarify for us is what region he is targeting because not all demographics accept or use crypto.

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Informeduser said:

Most definitely and I couldn't agree with you more but crypto has a just one down side. Majority of his/her clients are will be skeptical about paying cause crypto has no chargebacks and no dispute to it. So the client is also risking here and you don't want such thing om the business.

What are your thoughts on this?

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Servant of the Creed said:

He can use onramping like Moonpay. So customer pays with card but flow is moved into crypto.

Best of both worlds. Tho he’d (again) need to find a partner to take small volumes.

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feramy said:

Thanks a lot for pointing me in the right direction.

How often are the KYC checks on onramping like Moonpay done ? My customers are not crypto savvy and I think this would reduce conversion drastically if it is more often than not

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feramy said:

So, I had an idea to host Raffle website where users pay money inorder to win raffles , However I just discovered about High Risk payment Topic and how this might fall under that category.

I have since then researched and some say Cloaked stripe and paypal is best while others say it's better to get high risk payment processing partner.

Can you suggest anything and shed some light on this topic If you have experience in this matter, Anny info is appreciated.

I don't want to register business. since it is a side project which I wanted to test for now.

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feramy said:

Thanks a lot for pointing me in the right direction.

How often are the KYC checks on onramping like Moonpay done ? My customers are not crypto savvy and I think this would reduce conversion drastically if it is more often than not

Click to expand...

feramy said:

So, I had an idea to host Raffle website where users pay money inorder to win raffles , However I just discovered about High Risk payment Topic and how this might fall under that category.

I have since then researched and some say Cloaked stripe and paypal is best while others say it's better to get high risk payment processing partner.

Can you suggest anything and shed some light on this topic If you have experience in this matter, Anny info is appreciated.

I don't want to register business. since it is a side project which I wanted to test for now.

Click to expand...

Chris Grey said:

You're right to be cautious. Raffle or lottery-style websites are generally considered high risk by most traditional payment processors like Stripe and PayPal. Using them without proper disclosure or trying to hide your activity can lead to frozen funds, banned accounts, and serious problems.

If you are not planning to register a business yet and just want to test the idea, your safest option is to look into high risk payment processors who work with these kinds of models. Some names to research include PaymentCloud, Soar Payments, and Durango Merchant Services. They specialize in working with industries that fall into the high risk category including raffles, contests, and sweepstakes.

Another option some people try is crypto payments which avoid traditional banking risks but that also comes with its own learning curve and trust issues for users.

In short, avoid trying to trick major processors. If you want to run this even as a side project start with a small scale transparent setup and consider alternative processors built for high risk models. It will save you a lot of stress in the long run.

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ArnProxy said:

Crypto payment is the first choice. You don't necessarily need to work with a crypto payment company for crypto payment. You can add your own wallets and set up payment notification and automatic control/confirmation system with your own api. In this way, you can receive payments without being connected to any crypto payment company and without paying commission.

But it is also reassuring to get paid by credit card.

Paypal can be used, but the customer can abuse it (when the customer pays with paypal and receives the service, if they dispute the refund to paypal, they will get back the money they paid and your dispute process is very difficult).

Stripe can be used for credit card. There are a lot of payment options.

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feramy said:

So, I had an idea to host Raffle website where users pay money inorder to win raffles , However I just discovered about High Risk payment Topic and how this might fall under that category.

I have since then researched and some say Cloaked stripe and paypal is best while others say it's better to get high risk payment processing partner.

Can you suggest anything and shed some light on this topic If you have experience in this matter, Anny info is appreciated.

I don't want to register business. since it is a side project which I wanted to test for now.

Click to expand...

Informeduser said:

But he has a Raffle website and obviously that business category is already considered high-risk so having Paypal or Stripe will be difficult unless cloaked.

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