Prepaid Card Payment Gateway for Bitcoin

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Hi,

I am in need of a payment gateway that accepts prepaid cards. Chargeback rate is about 0.5-2%. I will cover all chargebacks that occur obviously. I am also willing to put up a $5,000 non refundable security bond in bitcoin.

Monthly volume is about $100,000. If we do well I can increase it to over $800,000/mo. In exchange I want to receive my funds via bitcoin.

Please let me know if this is possible. Also any advice is welcome. Thank you!
 
Btw all prepaid cards in USD and are from the USA. All payments are also made to look as unique as possible. Different payment method, different location, different billing address, different name, etc.
 

Sols

Staff member
Mentor Group Gold
As far as gateway is concerned, there is no difference between prepaid and non-prepaid cards. The authorisation process is the same for all cards as far as the gateway and acquirer are concerend.

But it sounds like you're laundering money, through. I would guess some type of IRS scam where you have a call center calling people, saying they owe taxes, and instruct them to go buy prepaid cards to pay the fine? Since this is a well-known scam, a merchant account being used purely for prepaid cards risks getting shut down pretty quickly. You need a more creative solution.
 
As far as gateway is concerned, there is no difference between prepaid and non-prepaid cards. The authorisation process is the same for all cards as far as the gateway and acquirer are concerend.

But it sounds like you're laundering money, through. I would guess some type of IRS scam where you have a call center calling people, saying they owe taxes, and instruct them to go buy prepaid cards to pay the fine? Since this is a well-known scam, a merchant account being used purely for prepaid cards risks getting shut down pretty quickly. You need a more creative solution.
That is not what I do. However I understand your point of how a merchant would see it that way and deem it too risky.

So when you say there is no difference between prepaid and non-prepaid cards, does this mean that the merchant can't see the difference? If this is the case it would not be a problem, correct?
 

Sols

Staff member
Mentor Group Gold
You are the merchant.

The gateway and the acquirer can both see that they are prepaid cards and, as I mentioned, having a merchant account with only or nearly only prepaid cards could raise a flag for involvement in the type of IRS/prepaid cards scam I mentioned.
 

James Spader

Forum Moderator
Staff member
Elite Member
Beside the legal part which I don't want to discuss here because it is not what you are asking for then I would look for a high risk payment processor that is able to accept, let's say, gray area business. I know @Gediminas say he is able to place uncoded gaming so maybe he can help you here.

Alternative there are a few processors in the RESOURCE section of mentor group gold which may be worth to research.
 

Solis500

Mentor Group Gold
Hi

I know it's been a while but I'm having the same issue. Can someone please let me know if there are any merchants who will accept this type of business?
 

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