One of the biggest challenges for companies accepting high-risk payments is the frequency of chargebacks. Customers often request forced refunds through their banks, causing businesses to regularly lose significant amounts of money. Fortunately, there is a way to protect your company from chargebacks by accepting cryptocurrency. Blockchain transactions are irreversible, which makes chargebacks virtually impossible.
In this article, we explain how to set up high-risk acquiring, why you should choose an anonymous payment gateway, and what to consider when looking for one.
What is a High-Risk Payment Gateway?
It is a software tool that allows businesses to accept payments over the internet. If your company is planning to accept cryptocurrency, youll need a high-risk crypto payment gateway.
Some gateways also offer customers the full functionality of a crypto wallet and these are the best options for businesses. Its not enough to simply accept crypto; you also need tools to work with it effectively. This includes making mass payments to partners or staff, risk assessments, involving multiple managers, generating balance reports, and more.
In addition, its essential that the crypto wallet ensures strong reliability, security, and full control over both assets and data. To avoid potential problems, its important to be meticulous when selecting a payment solution.
High Risk Business Payment Gateway: Choosing the Right Solution for a Company
First, check whether the wallet can be integrated with your website or trading platform via API. This will allow you to automate the process of accepting client payments. The solution should generate a unique address for each customer as soon as they click Pay with crypto on your site.
If API integration is supported, here are the key features and capabilities to look for:
Security of Assets and Data: The Top Priority
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Protecting the wallets IP address. To carry out a transaction, a crypto wallet connects to a node (a computer linked to the blockchain) and shares its IP address. Unfortunately, many of these nodes are operated by hackers and scammers. If they obtain the IP address, they may be able to determine the physical location of the wallet s server. So, you need an anonymous payment gateway, which will effectively mask its real IP address.
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Data Encryption: Keeping a secure record of transaction history is essential it allows wallet recovery in case of server failure. Strong encryption is critical for protecting this data, with 512-bit encryption currently considered unbreakable and highly effective.
Full Control
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Non-Custodial solution: For businesses, it is the best choice. This ensures that no third party can access your funds. You can also host the wallet software on your own server for even greater control.
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Seed Phrase: If the wallet doesnt generate a seed phrase during account setup, its a red flag. Without it, you wonât be able to regain access to your assets if something happens to your current payment solution.
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Sub-Wallets: An essential feature for businesses with multiple profit centres. Sub-wallets allow you to keep things organised and monitor the performance of each centre individually.
High Risk Payment Gateway: Operational Convenience
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Detailed reports on balances and fund movements.
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Simultaneous access from multiple devices, with user-specific permission levels.
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Automatic withdrawals once a set balance threshold is reached.
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Bulk payments for fast, accurate payouts to a list of recipients.
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Built-in AML checks to assess risk levels of both your own and third-party crypto addresses.
Conclusion
Protect your business from chargebacks by accepting cryptocurrency payments. When setting up high-risk acquiring, choose a solution that not only offers robust security for your funds but also provides the tools you need to manage them efficiently.