High Yield Investment Program (HYIP) Safety Tips

go find yourself.

GPR Global – Earn 7% a Day!
NeoRoy Investments – From 4% Daily Profit!
Triumph Technologies Ltd. – Earn 0.25% an Hour!

You have likely seen websites advertising similar attention grabbing headlines. They urge you to open an account and invest your money in what is affirmed to be an excellent investment opportunity. These investments are called HYIPs or High Yield Investment Programs. They consist of investment packages that promise high rates of return with little or no financial risk. Many online HYIPs guarantee returns of 20, 30, and even 100 or more percent per day, and often use vague and murky financial jargon to lend credibility to their business models.

The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have stated that all HYIPs that they have reviewed are fraudulent. The SEC has proceeded to warn members of the public about investing in HYIPs and other similar banking-related schemes, declaring that investment programs capable of providing returns that exceed the most generous yields offered by mainstream financial institutions pose a serious threat to the global financial system.

Despite these warnings, millions of individuals proceed to invest in HYIPs. The internet contains a plethora of monitoring sites offering daily updates on thousands of high yield investment programs. Customer reviews abound and we all know a friend or family member who has invested in a program and was happy with the returns they received. Although you should always scrutinize online reviews, as an industry has been created to service the need for fake customer feedback, not all HYIPs are fraudulent.

If you elect to invest money in a high yield investment program, follow these 4 simple tips to reduce the risk of losing your money.

  1. Be curious and always ask questions. You would never do business with a company that conceals the names of its owners or its location. So why would you invest money in a company that refuses to fully disclose how they generate earnings. Exercise skepticism when researching a new investment opportunity and if you can’t find answers to your questions, contact the organization directly. If you’re not fully satisfied with their response, it is likely a sign that you should not invest in their program.
  2. Do not fully trust customer reviews and positive feedback. Not everything written on the internet is the truth and not everyone who posts a review on a  consumer site an independent reviewer. Many businesses engage in devious practices to help boost their ratings. These can be as simple as offering product discounts in exchange for positive reviews, to purchasing fake reviews from companies that leverage cultivated networks of remunerated individuals.
  3. Verify the age of the HYIP. It is difficult to find high yield investment programs that have been operating for longer than a year. Many HYIPs close their doors within weeks of opening, leaving investors with no ability to recoup their initial investment. Beware of this practice which is common in the HYIP industry.
  4. Never invest more money than you can afford to lose. This is perhaps the most important investment advice anyone can receive. If you choose to invest in a HYIP, never invest a sum of money you cannot afford to lose, even if a program successfully passes your scrutiny.

When it comes to investing your money, beware of programs that seem too good to be true. Ideally, you should always choose established financial institutions and investments packages that are certified by your country’s financial system. If you decide to experiment with HYIPs, please follow our 4 tips to help ensure that you do not fall prey to unscrupulous con artists.

Current Logo

Have you been the victim of an online financial scam? Let us know in the comments section below or on our official SolidTrust Pay Facebook page. If you enjoyed this post, please follow us on Facebook and Twitter for news, updates, and more great content!


How To Choose A Payment Processor

untitled design

You’ve spent weeks creating the perfect e-commerce website. You’ve tested every button and link; more than 300 of them. You’ve crafted engaging content and designed eye-catching offers. Your calls-to-action are unmatched. It’s time to introduce your business to the world. But 24 hours later your support centre is overwhelmed by frustrated customers who are unable to complete their transactions. Credit card payments are being denied from shoppers in China, payment forms are freezing leading to skyrocketing cart abandonment rates, debit card transactions are taking hours, not seconds, to process, and you’ve been inundated with requests to accept bitcoin. What began as a day of celebration has quickly descended into chaos. You now have a jumble of problems that will take weeks to resolve.

Choosing the right payment processor for your business is one of the most important decisions you will make. At SolidTrust Pay, we understand the magnitude of this decision and want to provide some helpful tips to ensure that you choose a payment processor that will meet your unique business needs.

6 Tips To Help You Make The Right Decision

1) Beware of Hidden Fees

Payment processors will often charge different rates for separate services. For example, depending on the type of credit card that your customer uses and how you process the transaction, transaction fees may vary by up to 5%. Oftentimes, the payment processor will advertise the “qualified” rate which will apply to certain cards and regions only. This common practice can persuade unsuspecting merchants to sign up for enticing offers, only to later realize that their profits are being consumed by unreasonable fee schedules.

2) Dedicated Support

In the digital age, payment issues can occur at any time. For this reason, it is important to select a processor with a dedicated merchant support department. Additionally, look for payment processors with accessible resources like video tutorials, help articles, and online manuals. Armed with this knowledge, your team can troubleshoot many issues without having to wait for a support representative to do it for you. Also, contact different potential payment processors and speak with their merchant department representatives. This exercise will enable you to better evaluate how they treat customers and handle support requests.

3) Payment Options

Will you only accept credit and debit cards? What about digital wallets like Google and Apple Pay? Should you seek out a provider that can process bitcoin? The online payment landscape is rapidly changing, and increasingly, customers expect merchants to accept their preferred method of payment. By offering multiple payment options you can attract more customers to your business and dramatically reduce cart abandonment rates. For this reason, it is vital to look for a payment processor that keeps up with the latest innovations and consumer preferences.

4) Security

As news of major data breaches are made public almost on a weekly basis, fraud prevention and security should be at the forefront of every business owner’s mind. The ability to pay anywhere, at any time, and on any device we own increases our vulnerability to fraud. This necessitates that you take responsibility for protecting and securing your client’s payment information seriously. Make sure prospective processors are FINTRAC and FATF compliant and adhere to international PCI-DSS (Payment Card Industry Data Security Standard) regulations. In addition, take time to review your payment processor’s fraud management and monitoring systems. You may be surprised to discover how many processors lack these integral documents.

5) Customer Reviews

When it comes to evaluating potential payment processors, reviews can be an excellent differentiator. Of course, companies know that 98% of consumers now make purchase decisions based on reviews, and all too often, fill their sites with cherry-picked client testimonials with outstanding quotes. To combat this practice, look for impartial review sites such as Google My Business Reviews, Trustpilot, Consumer Reports, and Facebook Reviews. Read negative reviews first and pay attention to whether customer ratings have improved or declined over time.

6) Website Integration

Fast and convenient website integration is yet another vital point of review before selecting a payment processor. If integrating a particular processor with your website will cost you substantial time and money, you may want to consider expanding your search. Accordingly, your processor should possess dedicated information for programmers and developers, making integration and shopping cart creation a breeze.

 

SolidTrust Pay: Boutique Solutions for Your Unique Needs

Whichever payment processor you ultimately choose for your business is a deeply personal decision. At SolidTrust Pay we offer boutique payment solutions for your unique needs. We embrace a transparent fee system with rates cheaper than most big name providers. With state of the art security and extensive fraud protection features, our simple interface gives you access to your customer’s preferred payment methods quickly and easily.

 

Current Logo

What do you look for in a payment processor? Let us know in the comments section below or on our official SolidTrust Pay Facebook page. If you enjoyed this post, please follow us on Facebook and Twitter for news, updates, and more great content!


Customer Support Centre Update

January 10th, 2019

To all our valued members, our site update is almost complete. Please be advised that Live Chat remains temporarily unavailable. If you require account assistance, you may submit a support ticket, but please be aware that we will be replying to all customer service requests through email. We thank you for your patience and apologize for the inconvenience.

 

Current Logo

For news and updates, visit our official Facebook and Twitter page. You may also visit our Help Centre for answers to common questions.

 

untitled design


SolidTrust Pay New Year’s Hours

Untitled design (3)

As the New Year approaches, all of us at SolidTrust Pay would like to wish you and your family a wonderful year ahead!

In celebration of the New Year, our office will be closed December 31st and January 1st. Live Chat will be unavailable on these dates, but you may still leave a support ticket for us at any time. Please also be aware that document verification will be affected by the closure, as it will take us a little longer to review your submissions.

Wishing you a new year filled with joy, love, success and all good things. May you always be surrounded by hope and guided by the stars in 2019. Have a happy New Year!

 

Current Logo

Follow us on Facebook and Twitter for news, updates, and more great content!