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Showing posts from August, 2018

Payment Gateways Must Ensure that Merchants Comply With Their Operational Guidelines

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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

Payment Gateways can Allow Online Pharmacies to Use Their Platform but Also Ensure Compliance

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The pharmacy industry is considered as high risk by payment gateways for a number of reasons, foremost being the fact that a large number of pharmacies began selling prescription drugs online without the necessary authorization. As a result a payment gateway for pharmacy has become quite difficult to find since most payment gateways are reluctant to deal with pharmacies. Irrespective of whether a pharmacy sells prescription drugs without authorization or not it will be difficult for it to find a payment gateway for its online transactions. Why online pharmacies are considered high risk Many other issues like lack of temperature control during shipping or failure of the shipper to deliver the consignment on time also are serious issues of non-compliance. Since patients are not present during the purchase of drugs on-line there may be may raise serious concern with the online purchase and delivery of drugs. Then of course, there is the issue of fraudsters posing as pharm