Frequently Asked Questions

Applying for a merchant account with Kosipay is simple:

1. Complete our online application form with basic information about your business
2. Our team will review your application and contact you within 24-48 hours
3. We'll request any necessary documentation specific to your industry
4. Our underwriting team will review your complete application
5. Upon approval, we'll set up your merchant account and payment gateway
6. Start processing payments, typically within 24-72 hours of approval

Our streamlined process is designed to get you up and running as quickly as possible, with minimal hassle.

Required documentation varies by industry, but typically includes:

• Business license and formation documents
• 3-6 months of bank statements
• Processing statements (if applicable)
• Valid ID for all owners with 25%+ ownership
• Website or online store information
• Industry-specific documentation (varies by vertical)

Our application specialists will guide you through exactly what's needed for your specific business. We aim to make the documentation process as straightforward as possible.

Our application process is significantly faster than traditional providers:

• Initial application review: 24-48 hours
• Underwriting review after document submission: 24-72 hours
• Account setup and integration: 24-48 hours

Most qualified merchants are approved and processing payments within 3-5 business days from initial application. This timeframe can vary based on the complexity of your business model and how quickly you provide requested documentation.

Previous declines do not automatically disqualify you from obtaining a merchant account with Kosipay. In fact, we specialize in working with businesses that have been rejected by traditional processors.

Our approval rate exceeds 90% for legitimate businesses in high-risk industries, even those previously declined elsewhere. We have specialized banking relationships and underwriting expertise specifically designed for high-risk verticals.

When applying, be transparent about previous declines and the reasons given. This helps us address any specific concerns and route your application to the most appropriate banking partner.

Our processing rates for high-risk merchants typically range from 2.9% to 5.9% plus a small per-transaction fee, depending on several factors:

• Your specific industry and risk level
• Monthly processing volume
• Average transaction size
• Business history and time in operation
• Previous processing history and chargeback rates

While our rates may be higher than those for traditional low-risk businesses, they reflect the specialized banking relationships and risk management required for high-risk industries. We provide transparent pricing with no hidden fees, and we're committed to offering competitive rates within the high-risk processing space.

For a custom quote tailored to your specific business, please contact our sales team.

Our fee structure typically includes:

• One-time setup fee: $0-$299 (varies by industry and complexity)
• Monthly account fee: $25-$75 (includes gateway access and basic services)
• Monthly minimum fee: $25-$50 (only applies if processing fees don't exceed this amount)
• Payment gateway fee: Included in monthly account fee
• PCI compliance fee: $99/year (may be waived for certain merchants)

All applicable fees are transparently disclosed during the application process, with no hidden charges or surprise additions. We provide a complete fee schedule before you sign any agreement, so you'll know exactly what to expect.

We offer several settlement options for high-risk merchants:

• Standard Settlement: Funds are typically deposited to your bank account within 2-3 business days after the transaction
• Next-Day Funding: Available for established merchants with good processing history
• Custom Settlement Schedules: Options include daily, weekly, or custom timeframes based on your business needs

Settlement timeframes may be affected by weekends, holidays, your bank's processing schedule, and any applicable reserve requirements. Your specific settlement schedule will be outlined in your merchant agreement.

Kosipay provides comprehensive support for all merchants through multiple channels:

• Dedicated Account Manager: Personalized support from an industry specialist familiar with your business
• Phone Support: Available Monday-Friday, 9am-6pm EST
• Email Support: 24/7 with responses within 24 hours
• Live Chat: Available during business hours
• Knowledge Base: Comprehensive resources, guides, and tutorials
• Emergency Support: 24/7 emergency line for critical issues

We pride ourselves on our responsive, knowledgeable support team that understands the unique challenges of high-risk businesses.

We provide comprehensive chargeback management solutions for high-risk merchants:

• Chargeback Prevention: Tools and best practices to minimize disputes
• Dispute Alerts: Early notification of potential chargebacks
• Response Assistance: Help preparing effective chargeback responses
• Evidence Templates: Industry-specific templates for common dispute scenarios
• Analytics: Reporting to identify patterns and improve prevention

Our industry-specific expertise helps you navigate the unique chargeback challenges of your business vertical, maintaining acceptable chargeback rates while maximizing your win rate on disputes.

Yes, we provide extensive compliance support for high-risk merchants:

• Industry-Specific Compliance: Guidance on regulatory requirements for your vertical
• PCI DSS Compliance: Tools and support to maintain Payment Card Industry compliance
• GDPR and Privacy Regulations: Assistance with data protection requirements
• AML/KYC Procedures: Support for Anti-Money Laundering and Know Your Customer processes
• Policy Templates: Sample language for terms of service, privacy policies, and disclosures

Our team stays current on evolving regulations affecting high-risk industries, providing ongoing education and support to help you maintain compliance as requirements change.