Merchant Account for Research Chemicals

[alexova]

Hi,

Do you guys know a processor which accepts research chemicals?

Any experiences with gspay, psbill etc. in this sector?

[Admin]

Both GSPay and PSBILL have been in business for some years, you may need to check the current status for GSPay they seem to have many problems with their Acquiring banks, switching them on and off from time to time.

[NickyC]

I'm having the same problem, Struggling to find a payment gateway!

Did you have any luck with finding one?

If you could point me in the right direction i'de be VERY grateful

[Admin]

I'm having the same problem, Struggling to find a payment gateway!

Did you have any luck with finding one?

If you could point me in the right direction i'de be VERY grateful

What business are you into?

[NickyC]

Research chemical distribution, I've tried gspay & psbill one wouldn't commit and the other I've not heard anything back as of yet.

I've contacted at least 10 different merchant services and so far got nowhere!

[Admin]

It's going to be difficult to find any reliable merchant account provider for your business.

Do you have any processing history or is this a startup/new business?

[NickyC]

Its a new business. I'de prefer something simler to paypal or alertpay which is easily integrated to my open cart store, more of an account which my funds would rest in rather than having to have a business bank account, tax number, etc, etc. To start with anyway!

I have been offered this by a 3rd party but they are asking 10-15 % on each transaction, which is astronomical!, obviously there having there cut!

That tells me that there are services available... but where, who??

Appreciate any help on the matter

Thanks again!

[bitotan]

You need to face it, a rate for Ultra High Risk business of 15% is cheap take it while you can, no one will offer merchant account for you.

[NickyC]

Thanks for your input, This was offered by a '3rd party' (a middle man), If they can offer me this then there is obviously people who accept high risk businesses and offer cheaper rates!.

I will continue my search!!

[surthing]

It is not always as it look like.... the logical way to think is how you are doing, but let it be said, if any company can accept your business for payment processing then they mix your transactions with other legit business to hide what actually is processed or to reduce the overall chargeback ratio.

So a middle man (3rd party payment processor) can be necessary to get you going.

[NickyC]

yeah Your right surthing thats a good call.. If i look its it like that it makes sense. I will be taking them on short term but I'll still have to do my research to find a cheaper option long term as at the min its my only option i'll gladly accept the rates.

Just to clarify all products sold are totally legal in my country, but most deff frowned upon.

Thanks for your input

[bonox]

What type of products do you sell? Do you have any url to show?

[ezso]

Processing for sites like:
researchchemicalsupplier . com

They process credit cards on site, so how can they process it. I am also in need of a solution for chemical processing, it is so frustrating, because my volume has gone from 8,000 per month to just 3,000 because I cannot accept credit cards on my sites. Alertpay is a crappy solution, I need a merchant account.

How can I find out who other companies are processing credit cards with? Is there a way to tell by ordering something and then looking at the credit card statement transaction?

[NickyC]

Hey Ezso its good to meet someone in the same position as me hopefully we can work together and find a solution.

I have found two internet merchants that are willing to take payments for the site one of which as give has me a preliminary quote of between 7-8% but you need to have a formed business with business bank account etc do you have this? (If your from the uk there are companies that form businesses within hours and use their address as your business address), The payment gateway set up fee is $500,

I'm also in talks with another company who are offering a merchant account similar to paypal/alertpay which you have a holding account for the funds and withdraw to any bank account of your choice but there asking for rates between 10-15% I'm still waiting for them to get back to confirm the rate. The good thing about this is you dont have to have a business account or formed business which is good for if your starting out.

How far have you got into finding a merchant?, Are you UK based?

[ezso]

Hey Ezso its good to meet someone in the same position as me hopefully we can work together and find a solution.

I have found two internet merchants that are willing to take payments for the site one of which as give has me a preliminary quote of between 7-8% but you need to have a formed business with business bank account etc do you have this? (If your from the uk there are companies that form businesses within hours and use their address as your business address), The payment gateway set up fee is $500,

I'm also in talks with another company who are offering a merchant account similar to paypal/alertpay which you have a holding account for the funds and withdraw to any bank account of your choice but there asking for rates between 10-15% I'm still waiting for them to get back to confirm the rate. The good thing about this is you dont have to have a business account or formed business which is good for if your starting out.

How far have you got into finding a merchant?, Are you UK based?

Hey nickyC,

I am USA based. I have legal documents showing I am a sole proprietor, but have not yet registered a llc or corporation. All the things I do are completely by the law and legal. If I found a company that said all I needed was to have a registered business, then I would shell out the $1000 or so for it.

Here is my experience so far in trying to find Chemical processing:

Instabill- previously processed for research chemicals(10,000+ Monthly), but now claim not too.
PSBill- Doesn't support research chemicals
GsPay- Doesn't support research chemicals
Durango- Doesn't support research chemicals
Alertpay- No longer process for research chemicals
cps.lv- latvian high risk processing bank. No response.
Paypal, 2-checkout, Google Checkout- freeze accounts.

Highriskpay- Claim to process for it, but quite a few negative reviews about them.
Chronopay- never responded. Now having legal troubles