Why Christmas is the Best Time for High-Risk Businesses to Start Using International Credit Payment Card Processing?

Many businesses are entering their busiest time of year. The festive season, filled with celebrations and spending, is often a time for high sales and high demand, but for high-risk businesses, this can also be a period fraught with payment processing challenges. If you're in a high-risk industry, the holiday rush might mean more than just a surge in orders—it could lead to payment delays, transaction issues, and increased chargebacks.

But with the right solutions in place, this Christmas could be the perfect time to embrace a new way of handling your international payments: International credit card processing. In fact, according to a recent report from Statista, global e-commerce sales are expected to reach $6.3 trillion in 2025, with more than 60% of all purchases made with a credit card. This creates immense pressure for businesses, especially those deemed high-risk, to provide a seamless payment experience while keeping costs under control.

With Christmas just around the corner, now is the perfect opportunity to make the transition to a solution that will set you up for long-term success—reducing risks and optimizing your business operations in one fell swoop. Read on.

Why Christmas is the Perfect Time to Upgrade Your Payment Systems

Christmas is the season of giving, and what better way to give your business the gift of growth than by upgrading your payment systems? This time of year offers a unique opportunity for businesses to review their current processes, identify inefficiencies, and implement new solutions before the New Year begins. The holiday rush highlights the limitations of outdated systems and payment processing methods, making it an ideal time to evaluate your options.

For high-risk businesses, the pressure is particularly high during the holiday season. Sales volumes increase, and with it, the likelihood of chargebacks and fraudulent transactions. Traditional payment systems may not be equipped to handle this surge, and high-risk industries often find themselves blocked from using many mainstream payment gateways. By switching to international credit card payment processing now, you'll not only smooth out the holiday season’s payment hiccups but also position your business to scale for the future.

Common Challenges High-Risk Businesses Face During the Holiday Season

High-risk businesses often face significant hurdles when it comes to payment processing. Some of the most common challenges during the holiday season include:

1.    Higher Transaction Volume: The holidays bring a significant increase in transaction volume. High-risk businesses may find their payment processors freezing accounts or limiting transactions due to concerns over fraud or chargebacks.

2.    Chargeback Issues: As sales surge, so do chargebacks. Chargebacks occur when customers dispute a transaction, often due to fraud or dissatisfaction. High-risk businesses already face higher-than-average chargeback rates, which can lead to fees, fines, and even account termination by payment processors.

3.    Fraudulent Transactions: The holiday season is ripe for fraud, with cybercriminals targeting both businesses and consumers. High-risk industries are often seen as more vulnerable to fraud, making it essential to have robust fraud prevention tools in place.

4.    Limited Access to Payment Gateways: Many high-risk businesses are rejected by mainstream payment processors, especially during times of increased sales activity. Without the right payment processor, these businesses can lose sales, damage their reputation, or even face business closure.

Benefits of International Credit Card Payment Processing for High-Risk Businesses

International credit card processing can offer a range of advantages, especially for high-risk businesses during the festive season. Here's why it could be the solution you're looking for:

1.    Reduced Risk of Account Freezing: International credit card processors specialize in working with high-risk industries, meaning they are less likely to freeze your accounts or restrict your transactions, even during peak periods.

2.    Global Reach: With international processing capabilities, you can tap into global markets without worrying about geographical limitations. This is especially beneficial if your business has customers or suppliers in different countries, as it allows you to process payments in multiple currencies.

3.    Faster Transaction Speeds: International credit card processors typically offer faster transaction processing times, ensuring that your funds are transferred more quickly and efficiently, allowing you to reinvest in your business without delay.

4.    Advanced Fraud Protection: Many international credit card processors come equipped with enhanced fraud detection tools. These tools can help you minimize chargebacks and prevent fraudulent activity, reducing the risk to your bottom line.

5.    Higher Approval Rates: High-risk businesses often face challenges when it comes to getting payment approval. International credit card processors understand the complexities of high-risk industries and offer higher approval rates compared to traditional processors.

Key Features to Look for in an International Credit Card Payment Processing Solution

When selecting an international credit card payment processing solution, there are a few key features to consider:

1.    Multi-Currency Support: If you do business internationally, ensure that the processor can handle multiple currencies. This will make it easier to accept payments from customers around the world without needing to convert funds.

2.    Chargeback Management Tools: Look for a payment processor that offers chargeback management and prevention tools, such as fraud detection algorithms and real-time alerts, to minimize your risk of chargebacks.

3.    Security and Compliance: Ensure that the payment processor complies with global security standards, such as PCI DSS, to protect your customers’ sensitive data. A secure payment system will also build trust with your customers.

4.    Transparent Fees: Choose those high-risk payment processors that offer transparent and competitive fees, so you know exactly what you're paying for and can avoid hidden costs.

5.    Integration with Existing Systems: Ensure that the payment processor can seamlessly integrate with your existing e-commerce platform and other business systems.

Case Study: A Gaming Platform’s Christmas Transformation

Last Christmas, a gaming platform partnered with PAYCLY to resolve its payment challenges. The platform faced declined transactions and high chargeback rates, losing significant revenue during peak seasons.

After integrating our international credit card payment processing solution:

●     Their approval rates increased by 30%, capturing more global customers.

●     Chargebacks reduced by 40%, thanks to advanced fraud detection tools.

●     Revenue during the Christmas season surged by 50%, setting a new benchmark for success.

This success story highlights how the right payment partner can revolutionize your business during the festive season.

Why PAYCLY is the Perfect Partner for High-Risk Businesses

As a high-risk business, choosing the right payment processor is crucial. PAYCLY is one of the ideal high-risk payment processors due to its specialized solutions tailored to high-risk industries. With features like advanced fraud protection, multi-currency support, and seamless integration, we offer a comprehensive solution that minimizes risk and maximizes revenue potential. Their commitment to providing excellent customer service and transparent pricing ensures that you can focus on growing your business while they handle the complexities of payment processing.

Endnote

Christmas is a time for opportunities, and high-risk businesses can’t afford to miss out. Upgrading to a reliable international credit card processing solution ensures you’re ready to handle the holiday rush with ease. PAYCLY’s expertise in high-risk payment processing makes it the ideal partner for your business. Don’t let payment challenges hold you back—make this Christmas your most successful one yet.

Get started with PAYCLY today and unlock the full potential of your high-risk business!

Visit us at: High-risk merchant services

Originally published on: LinkedIn