Payment Gateways Must Ensure that Merchants Comply With Their Operational Guidelines
Many industries have been classified as high risk by the banking and financial services industry because of the proliferation of fraudsters and scammers in those industries. For instance, the tech support and online pharmacy industries, which are considered as high risk, have seen a large number scams that defrauded scores of customers amounting to hundreds of thousands of dollars. The payment gateways responded by classifying the entire industries as high risk and denying them usage of their gateways. As a result many genuine businesses in these industries are shut out of the gateways, which mean customers are the biggest sufferers. Thankfully, you can still find a payment gateway for highrisk business that manages to keep scammers out. An entire industry must not suffer The approach of the payment gateways that refuses businesses in the high risk industries access to their platform to process payments, suggest that they are not ready to analyse the situation. It doesn’t
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