Online credit card transactions can be processed by currency exchange businesses very easily with the help of currency exchange merchant accounts. Certain lending institutions and banks consider several merchant industries under a “high-risk” category. Currency exchange providers are often named under this category. A few good services concerning business development may not be received by merchants operating in the currency exchange industry due to their high-risk status. Such services may involve the likes of credit card or loan processing equipment. PayeUp.com reflects the importance of credit processing services and shares such information with the high-risk merchants very effectively.
High rates of charge-backs will often affect currency exchange providers that indulge in transfer of large sums and global conversions. Various merchant service providers that fall under the high-risk category get terminated due to this high rate of chargeback. Funds that remain after clearing contribute towards cash that’s retained by PayeUp for creating a High Risk Merchant Reserve. This reserve ensures additional security for the merchants as much of their unforeseen losses like charge-backs are covered by its funds.
Our Merchant Cash Advance service allows currency exchange providers to receive payments by selling a certain portion of the credit card sales volume of their site. PayeUp doesn’t allow creation of these funds through loans, rather assumes them to be advance payment for future credit card receivables. PayeUp doesn’t restrict the ways in which you may utilize these funds, since any advance payment is considered to be a kind of capital investment for your business.