This is the first in an indefinite but not regularly scheduled series of posts where I spotlight my clients and detail not only what I do for them as an example of what I can do for any client, but also to support their business!
This video is a good example of what I do for Tasker Payment Gateways LLC. Making videos describing a piece of their service or a specific topic relevant to it and uploading them to YouTube and posting them to Facebook, Twitter, and LinkedIn.
Understanding “High-Risk” e-commerce.
E-commerce might seem simple and in some cases is simple from a front end point of view, but the back end of the financial equation of how merchants get paid by their customers is quite complicated. Most merchants on the e-commerce marketplace have an easy time signing up for a service like Shopify or BigCommerce and input their information and start listing products. It’s just that easy for many products that merchants sell, but not for all of them. There are many products that you can walk into a store and purchase, but cannot simply go online and buy without some extra piece (even if that piece is unseen by the customer) that allows that transaction to be carried out. These products are referred to as “high-risk” and thus are more difficult to sell online.
Who’s taking the risk?
I want to first inform you that the term “high-risk” is not risk for the buyer, it’s for the bank that is backing the merchant with a merchant account. Shopify and other merchant services often set up basic merchant accounts for you, these are generic accounts that cover general merchandise that do not cause many abnormal issues when purchased. However, products like “adult” toys or items you may find in a “head shop” like bongs and pipes can cause issues called “charge-backs” or when the customer either returns or claims incomplete delivery, or commits some sort of fraud or “friendly fraud” or a plethora of other reasons for the customer to get their money back. Additionally some products have special regulation around selling them, like tobacco, which is fairly easy to sell in brick and mortar stores with a business permit in the proper region, but that becomes much more complicated online where location becomes less relevant. Between the regulation of certain products and the charge-back issues with others, a special category was needed to allow merchants a path to selling these products, and also allowing the banks to protect themselves from the financial issues surrounding the products.
So what falls under “high-risk?”
In the “high-risk” category it is necessary for you (the merchant) to set up a merchant account with a bank or financial provider which allows you to sell the specific “high-risk” product you want, like an online head shop selling pipes, bongs, cbd, or accessories like grinders, or an online cigar store, or a survival gear and tactical items website, or FFL to FFL transfer services. There are many more you can read about at Tasker Payment Gateways LLC’s website. Once you have a merchant account setup, you can connect it through a specialized payment gateway, which is meant to handle these “high-risk” transactions and allow the charging of credit cards.
Is all this really necessary? What’s the advantage?
This entire process is essentially to allow you (the merchant) the ability to charge credit cards for your products. Credit cards are the most common form of payment (especially online) and while you *can* sell these products collecting e-checks and some other less popular forms of payment like cryptocurrency, you would seriously be limiting your potential customer base by doing so. Get more in depth info on “high-risk” at the Tasker Payment Gateways LLC website.
Great info! What do I need them for?
Now that you have the basics, I can tell you more about Tasker Payment Gateways LLC and how they help you accomplish all of this. First of all Tasker Payment Gateways LLC is an A+ rated Better Business Bureau business. They are willing to help give you free advice regardless of whether you ever use their services or not. Their services are also free for you, the merchant. This is because Tasker Payment Gateways LLC is an essential middle man and gets paid by the providers they match you up with, however, they always give you choices and advice, none of which are you under any obligation to take or use (a no pressure environment).
What Tasker Payment Gateways LLC does for “high-risk” merchants.
As noted above the process can be a bit complicated when trying to setup high-risk payment gateways and merchant accounts. First you need a merchant account that will be underwritten for your specific product. Tasker Payment Gateways LLC has all the essential connections to get you paired with a proper merchant account quickly and easily, speeding up the process of getting you started, and often getting much better merchant account agreements for you than you would find on your own. Once you have a merchant account you need a High-Risk Payment Gateway setup connecting your merchant account and your website, this is what allows you to charge credit cards and send the funds to your merchant account. This process is specific, but not hard, and Tasker Payment Gateways LLC or one of their associates will guide you through it step by step. Once you go through the proper steps, you’re all set to start listing your high-risk products and charging credit cards for them!
Obviously there are fees and these accounts and gateways aren’t free, but you will pay nothing to Tasker Payment Gateways LLC, and these fees would be the same or more if found through another provider, only they may charge you for the services they provide, Tasker Payment Gateways LLC does not charge you anything.