Paykings Alternatives In 2024

Last Updated on August 20, 2024 by Corepay

Founded in 2011, Paykings quickly became a force in high-risk payment processing. Merchants who would typically have a hard time finding reliable payment processing have found success with Paykings over the years. With recent developments in the banking industry, many high-risk merchants need help with various acquiring banks and payment processors regarding VIRP. If you’re a high-risk merchant looking for an alternative to Paykings, you’ve come to the right place.

Key Takeaways

• We believe we (Corepay) are the best alternative to Paykings
• Paykings focuses on high-risk merchants such as CBD, Nutra, and online gaming
• If you’re looking to switch up your payment processing, you will need to find another high-risk payment processor familiar with your industry.

What Is Paykings?

Paykings is a payment processing company that specializes in high-risk merchant accounts. They offer solutions for businesses that may need help to obtain traditional merchant services due to the nature of their industry or business model.

Paykings was founded in 2011 and quickly grew to become a Fortune 5000 company under Kyle Hall’s leadership.

What Industries Does Paykings Serve?

Paykings serves a wide range of industries that require high-risk merchant account solutions. Whether you operate an online gaming platform, a nutraceutical business, or an adult entertainment website, Paykings can cater to your specific needs.

With the above being said, Paykings heavily focuses on Nutra, online casinos, and CBD.

Here’s a more detailed description of Payking’s industries:

• Adult Entertainment
• Digital Goods
• E-commerce
• Subscription Services
• Online Dating
• Delta-8
• CBD
• Credit Repair
• Vape
• Gaming
• Nutra

Rates

Rates for high-risk merchant accounts via Paykings typically include various fees, such as transaction fees, monthly fees, chargeback fees, and possibly additional costs based on your business’s level of risk.

Pricing will vary with Paykings depending on the industry and the merchant’s prior processing history. However, it is generally moderately competitive.

Pros of Paykings

• Moderately competitive pricing
• Payment Aggregation
• Subscription and Recurring Billing Support
• Multi-Currency Support

Cons of Paykings

• Customer support has negative reviews on Google

Alternatives To Paykings

Below are our favorite picks for alternatives to Paykings. Remember that Paykings focuses on high-risk merchants, so you will notice we feature companies that prioritize hard-to-place merchants, such as ourselves at Corepay.

Corepay

With Corepay, businesses can customize their payment process according to their needs and preferences. This flexibility allows for a seamless integration with mobile apps, enhancing the overall user experience.

Additionally, Corepay has established itself as a trusted and reliable payment solution for high-risk payments, ensuring the security of customer data and transactions. 

Corepay is a viable alternative for those looking for a reliable payment gateway solution.

With over two decades of payment processing experience, we have worked with hundreds of adult merchants and other hard-to-board merchants.

We are also confident that we can provide you with rates that others simply cannot match.

Pros of Corepay

• Competitive Pricing
• Swift Pre-approve – done in-house
• High-Volume Handling
• Multi-Currency Support
• Advanced Security
• Mobile Payment Integration
• Waived fees
• 24/7 Support
• Chargeback solutions

Cons of Corepay

• Potential bank approval time from the acquiring bank (This happens with all direct merchant accounts).

Verotel

Verotel is a well-established payment processing provider known for catering to various industries, including high-risk sectors such as adult entertainment, digital goods, and subscription services. Founded in 1998, Verotel offers a robust and secure payment gateway that supports various payment methods and currencies, making it a versatile choice for global businesses.

One of Verotel’s standout features is its ability to handle complex payment needs with flexibility. It supports multiple payment options, including credit and debit cards, alternative payment methods, and recurring billing models, which is particularly beneficial for businesses with subscription-based revenue streams.

Verotel allows merchants to accept payments in various currencies, which is essential for businesses looking to expand their international customer base. However, it is worth noting that Verotel fees can be relatively high, often exceeding 12%, particularly for high-risk industries.

Pros of Verotel

• Flexible Payment Options
• Advanced Fraud Protection
• Accepts most merchants
• Global Reach
• Support for Multiple Currencies
• Secure Payment Gateway

Cons of Verotel

• High Processing Fees
• Complex Fee Structure
• Limited Customization
• Potential Setup Time
• Service Availability

CC Bill

CCBill, established in 1998, is a leading payment processing provider known for its expertise in handling transactions for high-risk industries.

It operates globally, supporting businesses across various sectors, including adult entertainment, digital goods, e-commerce, and subscription services. CCBill is notable for its ability to onboard merchants without regard to credit history, catering specifically to high-risk and niche markets, making it a great alternative to Paykings.

The platform features robust tools for subscription management and recurring billing, essential for businesses with ongoing revenue models.

Despite the higher costs, CCBill offers significant value through its comprehensive security measures and extensiveindustry experience.

CC Bill Pros

• Ideal for specialized high-risk sectors 
• Clear-cut, fixed-rate charges
• Accepts nearly all legal merchants
• There is no recurring monthly cost 
• No penalties for early termination
• Supports multiple currencies Beneficial for global merchantsCons Of CC Bill

Here’s a quick breakdown of the cons:

• High processing rates
• Rolling reserve required (non-negotiable)
• Six-month minimum hold on account payout upon cancellation

Why Corepay Is The Best Paykings Alternative

Corepay makes as the best choice for the following reasons:

• Competitive Pricing Structure: We offer highly cost-effective processing rates to help your business maximize profitability and thrive.
• Swift Approval Process: you’llficient approval system allows travel merchants to start processing transactions quickly, with approvals typically granted within 24-72 hours.
• High-Volume Transaction Handling: Designed for high-risk businesses, our specialized payment gateway can manage substantial transaction volumes effectively.
• Multi-Currency Capabilities: We support payments in various currencies, helping you expand your reach and cater to a global audience.
• Stringent Security Measures: Our PCI-Level 1 secure payment gateway is rigorously tested and continuously monitored to ensure top-notch security for your transactions.
• Mobile Payment Integration: Easily accept payments via mobile devices, meeting the demands of today’s mobile-savvy consumers.
• Fee Waivers: Enjoy a transparent pricing model with no application, setup, or annual fees, so you can focus on growing your business without extra financial burdentoday’s Customer Support: Our dedicated support team is available around the clock to address any questions or issues, ensuring your satisfaction and success.