Kryptova.Biz review
Kryptova.Biz or just Kryptova is an unregulated crypto-focused high-risk payment processor and payment gateway services provider. Kryptova was established in October 2021 and has its headquarters in London, UK.
Kryptova is a complete online payments solution processor that offers a variety of crypto-based and credit card payment solutions for its international clients. What seems to be their current market value is that Kryptova.Biz enables its clients to process both credit card payments and cryptocurrencies. This business model is highly sought-after by e-commerces involved in the high-risk industries and is very much in line with the growing stake of cryptocurrency in world money flows.
Kryptova’s payment platform is developed by a team of IT experts providing complete online payments solution as a seamless and secure data and technology solutions aiming toward conquering the fast-paced fintech industry market. Along with the processing services, Kryptova offers white-label crypto payment solutions for other PSPs.
Kryptova.Biz specializes in payment gateway services, reconciliation and payouts, combined into one business relationship. It is a high-risk payment processor and a payment gateway solution that provides its clients the tools they need to accept payments from their customers worldwide. Kryptova offers a wide range of payment methods, including credit and debit cards, cryptocurrencies, digital wallets, and of course – bank transfers. Kryptova’s payment solutions turn a rather complex flow of paying for goods and services into an easy, seamless, and instant action.
Why do You Need a High-Risk PSP?
Kryptova focuses on high-risk payment processing solutions. But what does that mean and how can you know if you are considered a high-risk client? Here are some of the usual definitions and situations that can help you determine if you are truly in need.
Several processors rejected you
Being rejected by a few regulated processors might be a sign that you should consider working with a high-risk processor. To a high-risk processor such as Kryptova.Biz, you are a familiar, usual, and very welcome client.
You are doing business in a high-risk industry
Specific industries are associated with high risks, such as the adult industry, the gambling, or the gaming industry. If you’re in one of these industries or you need additional information on the line of business your are in, you should seek out the services of a high-risk processor such as Kryptova, instead.
You process a large number of transactions
If you process many transactions, you may be considered a high-risk business. Many transactions, if not merely statistically, increase the chance of a chargeback, and not many processors like to work with chargebacks, disputes, and refunds. Don’t worry though – Kryptova.Biz is well equipped for big traffic volumes and all it brings along.
You have a high chargeback rate
Related to the previous scenario, but also unrelated at the same time, you may be having a high chargeback rate. This quality of your traffic will lead to constant audits of your bank accounts, which will usually lead to accounts getting frozen and closed soon after. Kryptova knows the troubles of the businesses that struggle with a high chargeback rate and have the tools to overcome them.
You’re a newly established business or a start-up
If you’re a new or a start-up, you may be considered high risk just by that mere fact. New companies are more prone to financial problems and the source of the capital they start off with may be hard to track. High-risk processors are used to working with new businesses and can help kick it off.
In need or by choice, you should be aware that working with a high-risk processor will imply a few downsides as well. Onboarding with Kryptova is a process that will require complete and impeccable paperwork, usually referred to as KYC – Know Your Customer or KYB – Know Your Business documentation. The common documents you will need to provide are incorporation documents, directors and shareholders certificates, proofs of identity, proof of address, source of wealth, and the like. You will be asked to provide all the relevant and additional information based on which your risk level will be assessed, and a customized price sheet will be offered. The prices you can expect to get offered are higher than what you would be charged for the same services by a regulated, common processor and follows your risk assessment.
Kryptova.Biz Services
Integrating with Kryptova.Biz means that your online business will be able to accept payments with less hassle from your customers worldwide, offering multiple payment options. On top of the most supported payments methods, including world-leading card payments and wallets, you will now be able to offer crypto payments for your e-commerce. Using Kyrptova.Biz high-risk payment processor and payment gateways services, you will be able to process payouts globally.
- Crypto payments for E-Commerce
- Credit Card Processing
- Crypto payments by Invoicing
- Crypto Payments for Remittance
Kryptova Trustworthiness – Risk minimizing and Fraud battling
Kryptova has robust measures to control and limit ML/TF risk, including dedicating the appropriate means for it. Kryptova’s values are committed to high anti-money laundering and countering terrorism compliance and require all their employees, management, and divisions to adhere to these standards.
As already mentioned, the screening begins as soon as you apply for an account. Their strict and comprehensive client identification procedures (KYC/KYB) are the first step of their ongoing commitment to minimizing risk and battling fraud. Once the relationship has been established Kryptova as a high-risk payment processor will conduct ongoing transaction monitoring to detect unusual or suspicious transactions compared to the client’s profile. Any alert will be escalated and checked for additional information including full due diligence of the transactions on the client’s account in question.
On top, Kryptova.Biz ensures full compliance with the applicable sanctions against persons and entities by conducting sanctions screening in line with the latest security requirements. It compares internal records to all official country watchlists published and kept by the EU, the OFAC, and the UN.
Kryptova Integration – Free and Easy?
Kryptova.Biz provides its clients with complete tech integration support. The integration is simple and quick, requiring an S2S connection for a seamless and impeccable data flow. The setup does not come free of charge, as they do charge a fee for the integration and annual maintenance. The fees may vary depending on the clients’ onboarding and risk screening so it would be advised to get an informative price and term sheet upfront, asking for all the additional information you see missing. The client will get access to their back office, ensuring the latest security requirements, real-time data overview, transactions statistics and reports, and business conditions – all in one place. Kryptova’s account managers and technical staff will be there to support their clients via emails and chats, following and overseeing the transactions and maintaining the data transfers in perfect order.
What clients have to say about Kryptova
Many posted their experience with Kryptova.Biz on various review platforms. Although the details are scarce, the reviews are all positive. At the same time, there have been no scam or fraud reports on Kryptova. Based on the available information at the time of this review, we can only conclude that there is no obvious or immediate reason to distrust Kryptova. Time will tell and as with any service, one should try to gather as much relevant information as possible, before entering a relationship that plays a role as important as payments do in online commerce.
Kryptova.Biz Referral Partnership Model
A payment referral partner is a company that works with companies whose important part of their daily business is making payments and counting transactions. What this means is that you don’t even need to be e-commerce or run an online store yourself, you don’t need to be an intermediary or have a payment gateway yourself -all you need to do is know someone in need of reliable payment processing. Your role is to enter a relationship with Kryptova as a referrer and introduce the said e-commerce or online store to Krytova.Biz. By partnering with a payment processor, your referred clients can enjoy uninterrupted transactions and effortless payments. The partnership is lucrative for all parties – the payment service provider, the referred e-commerce or online store and the referrer. Of course, you can take a more active role in this relationship in case you operate a payment gateway – whether you own and operate a proprietary software or hold a white-label license.
The Benefits of the Kryptova Referral Program
Partnering with a payment processor allows more focus on other aspects of the business and handing over the payments, payouts, reconciliation, and settlements to experts. Keeping up with the trends, implementing new methods, and offering convenience, speed and accuracy is a must for all companies working hard to scale up in the competitive markets of online commerce of today. Making swift and wise decisions about your business, such as entrusting the processing of your payment with a proven payment processor such as Kryptova is crucial.
The customers are well informed of the various payment methods that immerge the markets daily and expect them at their avail when they hit checkout. Those few seconds that take a customer to review available payment options on the checkout page, can make or break the sale. On the other hand, and for most of the e-commerces, it may seem too big of an investment to take up a project of building a proprietary payment software in-house. Too big for a reason. Hiring developers, scoping the project, funding it, seeing it through coding, and testing to live stages may be more than a business whose main activity is not software development, can handle. A great solution does not only provide free hands to focus on your core business, but a relief knowing that your money flows are streamlined, and your customers have no issues getting a service or a product associated with your brand or shop. A fitting proverb teaches – “Courteous treatment will make a customer a walking advertisement.” – James Cash Penney, Founder J.C. Penney Stores