Companies in high risk industries dealing with crypto transactions often face fund freezes by exchanges and payment processors. This usually happens when incoming cryptocurrencies are not screened for risk.
In this article, we’ll explore what influences transaction risk and how to process high risk payments without getting blocked. But first, let’s define the term.
What Is a Payment Gateway for High-Risk Transactions?
A payment gateway high risk solution is essential for businesses operating in sectors prone to chargebacks and financial scrutiny. High risk industries often face customer disputes due to service or product quality. Businesses considered high risk include pharmaceutical sales, VPN services, gambling platforms, brokerage firms, and more.
AML Risk Levels and Choosing a High Risk Payment Gateway
There are services that can track the transaction history of cryptocurrencies. Thanks to blockchain technology, which functions like an immutable ledger, it’s possible to determine if funds have passed through unverified exchanges or suspicious deals. If so, these services assign a high-risk rating to associated addresses.
Leading crypto exchanges are highly cautious about the origin of user funds. If someone deposits crypto with a high AML risk, the exchange may freeze it and request proof of origin. In many cases, recovering blocked funds is challenging.
How to Accept High Risk Payments with a Reliable Online Payment Gateway
For high risk businesses, monitoring the risk level of incoming crypto assets and conducting AML checks is crucial. BitHide, a crypto wallet designed for businesses, integrates this functionality, allowing merchants to assess cryptocurrency quality in seconds.
Using a high risk payment gateway, businesses can securely process transactions and reduce the chances of being blocked. The right payment gateway high risk solution ensures that only verified funds reach your account, minimizing disruptions.
Funds can be distributed across multiple wallets based on risk level:
Low-risk funds go to one wallet
Medium-risk funds to another
High-risk funds to a separate wallet
A payment gateway plays a key role in protecting businesses from fraudulent transactions. By choosing a reliable online payment gateway, companies can safely accept crypto payments without concerns about fund freezing.
BitHide allows unlimited creation of sub-wallets and addresses, ensuring that only verified and safe cryptocurrency is sent to exchanges or payment processors. This minimizes the risk of transaction blocks.
Visit the BitHide website to learn more about its advanced crypto wallet features tailored for businesses processing high risk payments.
