Helcim strives to support a wide range of small and medium-sized businesses across Canada and the US. However, due to legal and industry regulations, as well as our own risk management policies, we are unable to approve every application.
| If you've been directed to this page, it's likely because there are certain restrictions or high-risk factors associated with your business that we need to consider. |
This article will explain those restrictions and high-risk factors in detail, providing clarity on why some applications may face delays or denials. We aim to be transparent and help you understand our policies.
In this article
Why we have certain rules and regulations
Helcim partners with banks and card networks like Visa and Mastercard to provide reliable payment processing. These partnerships mean that Helcim, like our partners, must follow certain rules and regulations.
These rules are designed to:
Protect customers and the payment system: This includes preventing fraud and ensuring secure transactions.
Prevent illegal activity: Payment processors must comply with laws like anti-money laundering and anti-terrorist financing regulations.
Manage risk: Both Helcim and our partners have policies to assess and minimize financial risks.
These requirements can sometimes limit the types of businesses Helcim can support. While we understand this can be inconvenient, they are essential for maintaining a safe and secure payment environment for everyone.
Businesses that are restricted
Helcim's goal is to support as many businesses as possible. However, there are some restrictions on the types of businesses we can work with. These restrictions are outlined in our Acceptable Use Policy.
| Additionally, there are certain factors that can make a business appear "high-risk." This doesn't automatically disqualify a business, but it means our team will need to review the application more carefully. This might involve asking for more information or documentation. |
Here are some examples of factors that can contribute to a business being considered high-risk:
Large transactions or high sales volumes: This can increase the potential for financial loss.
Industries with high chargeback or fraud rates: Some industries historically experience more disputes or fraudulent activity.
Sales with delayed delivery: Businesses that sell goods or services that are delivered in the future can have a higher risk of disputes.
New businesses: Businesses without a long financial history can be more difficult to assess.
Products that are hard to standardize: Goods or services that vary significantly in quality can lead to more customer dissatisfaction.
Reliance on suppliers: Businesses dependent on complex supply chains can be vulnerable to disruptions.
It's important to note that these are just indicators. Having one or more of these factors doesn't automatically mean your application will be denied. Our team reviews each application individually.
How to strengthen your application
If your business has some of the high-risk factors mentioned above, there are steps you can take to strengthen your application. By implementing certain business controls, you can demonstrate to Helcim that you're aware of the potential risks and actively working to manage them.
Here are some examples of steps you can take:
Implement a fraud prevention system: This could involve using tools to verify customer identities or monitor transactions for suspicious activity.
Strengthen your supply chain: If your business relies on suppliers, having backup plans and quality control processes can reduce risks.
Create clear policies: Publish clear and transparent refund and exchange policies on your website.
Build a positive reputation: Encourage satisfied customers to leave reviews on public platforms.
Taking these steps can significantly improve Helcim's confidence in your business and increase your chances of approval.
Next steps
If you have questions about Helcim's business restrictions or believe your business can meet our requirements, here are some recommended next steps:
Review our Acceptable Use Policy: This document provides a comprehensive list of restricted business categories. You can find it on our website here.
Gather supporting documentation: If your business has high-risk factors, prepare documents that demonstrate your risk mitigation measures. This might include:
Fraud prevention system details.
Supply chain management plans.
Refund and exchange policies.
Customer review summaries.
Contact our Trust & Safety team: Our team can provide further clarification and guidance on your specific situation. You can reach them at trustandsafety@helcim.com.
We understand that navigating these requirements can be complex, and we're here to help you through the process.
FAQs
What is an Acceptable Use Policy?
An Acceptable Use Policy is a document that outlines the specific types of businesses and activities that Helcim cannot support. This policy is in place to ensure compliance with legal and regulatory requirements, as well as to manage risk within the payment ecosystem.
Can I still be approved if my business is considered high-risk?
Being considered high-risk doesn't automatically disqualify your business. Our team will conduct a thorough review of your application, taking into account any risk mitigation measures you have in place. Providing documentation that demonstrates these measures can significantly improve your chances of approval.
How long does the review process take?
The review process time can vary depending on the complexity of your business and the volume of applications we're currently processing. We strive to complete reviews as quickly as possible. If you have concerns about the status of your application, please contact our support team for an update.