The new website of Tailored Pay has innovative elements that allow online businesses with varying technical capabilities to take online payments swiftly and seamlessly. Along with simplifying the payment acceptance procedure for eCommerce companies, TailoredPay.com simplified the information provided on their website, making it more accessible and easier to understand for both beginner and advanced online merchants.
The company, TailoredPay provides payment integration solutions to businesses in a range of categories, including health and beauty, travel, web design/development, and online dating – all of which require smooth payment integration.
Tailored Pay had noticed a market gap created by online merchants’ lengthy compliance procedures and high-cost integrations when looking for payment solution systems for their businesses. Hence, the company’s goal is to develop a payments system that simplifies the setup process and application while also leveraging sophisticated APIs to give merchants greater control over the payment experience.
TailoredPay.com was born out of a need for a more seamless, simplified payment experience.
TailoredPay.com: A Quick Overview
TailoredPay operates an online payment platform (TailoredPay.com), enabling online merchants to take credit and debit cards to accept payments across many devices. This online platform also enables retailers to accept one-time as well as recurring payments on both mobile and desktop devices.
For more than four years, the company has been in the payment processing industry. The TailoredPay’s team is expertly managed by professional Fintech and Information Technology (IT) industry experts with extensive international experience that provides a world-class and highly innovative service.
TailoredPay’s objective is to optimize and streamline the payment experience for online merchants by simplifying the payment process. They are very well aware of the usual problems that online retailers face – such as payment delays as well as low conversion rates caused by hosted checkout sites. Their website TailoredPay.com is a dependable payment online platform solution that reduces the chances of cart abandonment and guarantees that businesses will have continuous revenue flow and will consequently improve their profit gains.
The company processes new merchant applications within 24 business hours and protects your data with industry-leading security and encryption standards.
Online merchants interested in learning more should visit TailoredPay.com to get a glimpse of what the payment processing online platform can offer.
What constitutes a high-risk merchant account?
A payment processing account for a business that is classified as high risk by regular payment processors is considered a high-risk merchant account. High-risk businesses face a greater risk of chargebacks and fraud than more typical businesses. Moreover, factors such as transaction volume, sales model, order fulfillment timeframes, and Industry might affect whether a business is labeled as high risk.
Unfortunately, if a business is labeled as high risk, acquiring payment processing with conventional financial institutions can be prohibitively expensive or even impossible. That is where TailoredPay.com enters the picture: Being a high-risk payment processing online platform, it established ties with banks and industry experience that enable them to provide payment processing services to your high-risk business.
Who is a candidate for a TailoredPay high-risk merchant account?
Those with credit problems
As with personal finance, businesses with a poor credit rating may be categorized as high risk.
Business that offers free trials
If the business has free trials which convert to paid subscriptions, you may be dealing with a high-risk business.
Those who have recurring billing
Traditional payment processors frequently classify subscriptions and other kinds of recurring billing as high risk.
Those industries that have a high rate of fraud and chargebacks
As what you can already anticipate, if you enter an industry with a high rate of fraud and chargebacks, the business will most probably be classified as high risk.
What are the fees associated with high-risk merchant accounts?
High-risk merchant accounts really do have greater fees than low-risk merchant accounts. However, when you know what you are looking for, you could obtain fair rates that let you retain a greater portion of your profits. Furthermore, if the provider requires lower reserves, it will only mean that there would be more cash flow that you will have for your business.
TailoredPay.com: Applying for High-Risk Merchant Account
The application process for a merchant account is quick and simple. This should take no more than 10 minutes.
The following are the three easy steps:
1. Fill the online application as soon as you can.
2. Sign the merchant processing agreement via DocuSign.
3. Await for the approval from the underwriters (usually takes 48-72 hours).
Required Documents for a High-Risk Merchant Account
Obtaining a high-risk merchant account is simple and convenient through TailoredPay.com. If you are seeking a merchant account in the United States, you must submit the following documents:
• Driver’s License, Passport, or any other government-issued ID
• Bank Letter or Voided check
• If applicable, three months of credit card processing bills from your former or current provider
• Three months of business bank statements. If the business is new, three months of current personal bank statements are necessary.
• Articles of Organization/Articles of Incorporation
TailoredPay.com: How Much Time Does It Take to Apply for a High-Risk Merchant Account?
When using TailoredPay as the high-risk merchant service provider, the average approval time for a merchant account in the United States is between 2 and 3 business days. The underwriter may occasionally seek further information if the need arises. This can add time to the approval process for new accounts but normally only adds extra two days if you provide the information immediately.
The Benefits of Using TailoredPay.com for Payment Processing
TailoredPay will be able to fully assist you in securing payment processing so that your business can develop and thrive.
Through TailoredPay.com, you can be rest assured that you are using a dependable payment processing solution.
TailoredPay is a payment processing specialist and a high-risk merchant account dedicated to serving their clients’ best interests. They provide a carefully evaluated selection of online and virtual payment gateways that are suited for high-risk businesses of all sizes and shapes.
You may contact them at TailoredPay.com to see how TailoredPay can assist your business to succeed.