Looking to sell your products/courses online, yet don’t want to pay over 10% in processing fees? You’ve come to the right place. At Corepay, we have helped many merchants make the move from Gumroad to our platform for a number of reasons.
To start, Gumroad doesn’t service high-risk industries. If you started your business on Gumroad and you had your account frozen or terminated, you will need to find a reliable partner such as ourselves.
At Corepay, we frequently assist high-risk verticals with coaching, medical, CBD, vaping, online lessons, weight loss, and dating.
Let’s look at why we make the best alternative to Gumroad for your payment processing needs.
Key Takeaways
- Gumroad doesn’t service high-risk merchants
- Merchants terminated from Gumroad must find a reliable partner ASAP
- Gumroad charges a flat 10% processing fee, which can be too much for many merchants
- At Corepay, we can provide reliable processing, regardless of your industry, for under 5% and even lower depending on your volume.
- Stripe is the default payment processor for Gumroad, similar to Shopify
What Is Gumroad?
Gumroad is an e-commerce platform that enables creators to sell products directly to consumers. With Gumroad, you can easily set up your online store, showcase your digital or physical products, and reach a global audience.
The platform offers a user-friendly interface that simplifies the selling process, allowing you to focus on creating and promoting your products. Gumroad handles payment processing and product delivery, making it convenient for bothsellers and buyers.
The cons of Gumroad are that it offers very basic customization, doesn’t support high-risk verticals, and charges a flat 10% for everything you make, in addition to processing fees.
Why Doesn’t Gumroad Accept High-Risk Merchants?
Considering the potential risks involved, Gumroad opts against accepting high-risk merchants due to the complexities associated with managing such transactions. High-risk merchants pose challenges such as a higher likelihood of chargebacks, potential fraud, and non-compliance with regulations.
Gumroad integrates with Stripe, which does not work with high-risk merchants, unless the merchant is processingmillions per month.
What’s The Best Alternative To Gumroad?
The best available alternative to Gumroad is Shopify. However, the best high-risk alternative to Gumroad for accepting payments is us, Corepay, as we accept high-risk merchants, and we are CMS agnostic, meaning we can connect to any platform you host your website on.
What Industries Does Gumroad Deem High-Risk?
- SEO
- Financial Services
- Gambling and Gaming
- Adult Entertainment
- Healthcare
- Travel and Tourism
- Tech Support
- Forex and Cryptocurrency
- Nutraceuticals
- Real Estate (especially high-value transactions)
- Firearms
- Coaching
- Online dating
What To Do When Terminated By Gumroad?
Here’s a quick list of what you need to do when terminated:
- Reach out for an explanation (your new processor will need to know)
- Immediately find new processors that accept high-risk merchants
- Be patient when applying, as it’s harder to board high-risk merchants now with VIRP
Choose Corepay As Your Gumroad High-Risk Alternative
At Corepay, we are proud to offer the following to all of our clients:
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- Fast Approvals Within 24-72 Hours, even for high-risk industries
- Exceptional Customer Service, including direct access to the Management Team
- Risk mitigation with Rapid Dispute Resolution (RDR) by Verifi, 3-D Secure 2.1/ our partner product CB-Alert
- Waived fees (application, set up, annual)
- Maximize approval ratios due to routing technology based on your target customer base within our proprietary payment gateway
- Traditional chargeback alerts by Ethoca and Verifi
- Access to credit card processing equipment needed for retail/offices
If you’re looking to start accepting payments after having your processing terminated for Gumroad, look no further than Corepay.
