| Get the experience from not just a seller of | | | | or at a much lower amount - or, are only |
| a high risk offshore merchant account - but a | | | | temporary fines that are refunded to the |
| merchant who has been thru all the hoops and | | | | processor after a short "hold"-period. The |
| has seen everything from "both sides". | | | | processor has already deducted these funds |
| | | | from the merchant - but the merchant never |
| The risks of offshore high risk merchant | | | | gets these funds again. Ever. |
| accounts | | | | |
| | | | A processor broker/seller having a foreign |
| Most sellers of such high risk merchant | | | | name - Gany Karim - (this is not his real |
| account are delivering low-grade products - | | | | name - just the name he uses for his |
| or simply take your money and run away (this | | | | customers - so he can not sue me for |
| has happened to me several times in the | | | | defamation and supposedly located in Canada |
| past). These sellers have never processed 1 | | | | sold me those 2 solutions. The total loss was |
| single cent themselves from credit cards - | | | | more than 40.000 USD in direct losses - plus |
| and therefore do not know (or care) about the | | | | I was not able to process for several months |
| requirements of a merchant. They only know | | | | waiting for a new solution to be made - which |
| how to sell a useless "solution" that will go | | | | never came. However, all his "fees" that ran |
| down after 1-2 months of use. | | | | into 2.000 USD - including extra fees that |
| | | | were never explained to me - was deducted |
| These days the scam artist make your account | | | | from my processed funds and funny enough I |
| run for 2 months and then suddenly it gets | | | | never saw 1 cent at all. |
| closed - and then you never see the funds | | | | |
| from the last 3-5 weeks processing - plus the | | | | Before a processor loses his bank connection |
| standard 10% reserve that you normally should | | | | then the bank has for some time asked the |
| get back after 6 months. | | | | processor to change certain procedures which |
| | | | the processor chooses not to do so. Then the |
| A new variation of this scam is that the high | | | | bank closes the processors merchant account |
| volume high risk merchant account processor | | | | and then the processor blames the bank for |
| has very poor reporting system making it | | | | the problem. |
| difficult or impossible for you to see when | | | | |
| and how much you will get paid for which | | | | When you ask the processor which bank they |
| period. | | | | use then they will never tell you. |
| | | | |
| For example a gateway processor that claims | | | | After a couple of years you have forgotten |
| to be located in Switzerland (they have no | | | | all about it and have moved on - which is |
| telephone that actually works) and be | | | | what these scam artists hope for. |
| operated by a Swiss person shows only 7 | | | | |
| transactions per page - and has no reporting | | | | These processors also have no or very poor |
| system whatsoever. This processor claimed | | | | customer service (before they close down your |
| that their discount rate was 8% and reserve | | | | account). And after they close down the |
| was 10% - but actually, they kept 53% of all | | | | account - then they have zero customer |
| processed amount - and after7-8 weeks the | | | | service and you can not get hold of them at |
| account suddenly closed. This so-called Swiss | | | | all or not talk to the decision maker. |
| gate also put a chargeback belonging to a | | | | |
| completely different merchant on my account | | | | Other times then the processor sets up |
| and never removed it even though they | | | | another corporation which they process thru. |
| promised to do so. Another chargeback I was | | | | Then in your contract it says that the |
| able to prove that the product was delivered | | | | processor is not liable for losses incurred |
| but the chargeback still remained. | | | | if your processor is not paid. The funds will |
| | | | then be in the other company (that the |
| Another example was a so-called Chinese | | | | processor also owns). |
| gateway processor using a gateway went down | | | | |
| (lost their bank connection) also after 6 | | | | Are there any offshore credit card processors |
| weeks of processing with them - and never | | | | that are not con artists? |
| told anything to me - ever - so for 2 weeks | | | | |
| all my orders got declined - making my | | | | Yes, there are some good offshore merchant |
| potential customers upset and me very | | | | account processors out there. I use some of |
| frustrated. Besides the cheating then this | | | | them myself for my own websites so I know |
| gateway is so badly built that you can only | | | | that they are reliable. |
| use Internet Explorer to access the gateway | | | | |
| with and you must disable popup blockers. The | | | | You will get your own MID account and be able |
| DNA-gateway does not permit you to use the | | | | to accept VISA, Mastercard, ACH and maybe |
| mouse for copy/paste of customer info which | | | | other cards also (depending upon your |
| makes it very slow to use. This doesn't | | | | business area) - for a small setup fee of |
| really matter because they never pay you 1 | | | | $599. |
| single cent. | | | | |
| | | | You also get to talk to a real life person - |
| A great way that these sellers also make | | | | who knows the requirements of a merchant - |
| money is to make up fines from Mastercard or | | | | and uses the very same processor solutions |
| VISA - that supposedly requires 1-4 years | | | | that I sell. So, I practice what I preach so |
| litigation. These fines do not exist at all | | | | to speak. |