High-Risk Merchant Accounts & Payment Gateways

When you swipe a customer’s credit card, there is a risk that malware or bad actors could somehow steal that information. When you make a sale, there’s a risk that the customer will return the purchase. Our sole focus is helping high-risk businesses compete in the marketplace. When others say “no,” we say “yes” with a 98% average approval rating for high-risk payment services. We’ll work with you even if your credit needs some work, with regular approvals on scores as low as 500.

These methods include IP tracking, verification of transaction data, blacklisting of scammers, etc. As a high-risk merchant, you have to maintain a rolling reserve. It’s when a particular share of your transaction volume (up to 20%, but usually less) gets kept on hold for a specific period and is released and settled afterward. This mechanism allows banks to protect themselves from anything that can possibly go wrong with a risky business. There are annual, semi-annual and monthlysubscription-based services. Sometimes people don’t realize they signed up to be billed indefinitely, leading to more chargebacks for your business. Host Merchant Services is a registered Independent Sales Organization of Wells Fargo Bank, N.A., Concord, CA. High-risk merchant services provided through Electronic Merchant Systems .

Growing High Risk Industries for Payment Processing

High-risk processors are, by necessity, experts in risk mitigation. While this comes at a cost, your businesses will nonetheless enjoy these benefits with a quality, high-risk provider. It also doesn’t work with businesses engaging in illegal activity, those with very bad credit or MATCH-listed merchants. If you operate a static or mobile storefront and need to accept payments in person, you may be able to get a free EMV terminal or mobile reader. This is a nice bonus, as card readers can easily cost over $100 on their own. If the lack of fee transparency does not throw you, Durango is a company that can be a great help, especially when you are low on options but want a fair and upfront service provider. PaymentCloud stands out from the competition with no long contract requirements and fast deposit timing.

I own and operate an online company that is considered “high risk.”This was not an obstacle with Tailored Pay. They went above and beyond to provide the best rates with the best acquirers for my business. I definitely recommend any merchant to work with Tailored Pay.

Services

In today’s payments environment, accepting credit and debit cards is merely a good first step toward maximizing the number of ways for your customers to pay you. Your merchant service provider will often offer additional alternative payment methods to make it more convenient for your customers to make a purchase.

QuadraPay takes your application to those acquirers that high risk approved. Does that mean any industry is OK with a High Risk Merchant Account Provider?

Online Pharmacy Merchant Account

A processor that offers you a merchant account may not specialize in high-risk merchant services. Many providers may issue a high-risk merchant account simply because they want your business, but they’re inexperienced at handling the needs of high-risk businesses. In fact, their credit policies may not even support your industry or SIC code, and just result in a decline shortly thereafter. Easy Pay Direct offers load balancing, which helps you get around the monthly processing limits that often come with high-risk merchant accounts. Just be aware that you’ll usually have to pay separate monthly fees for each account, so it might not be cost-effective for some merchants. The load-balancing option and the robust features of the company’s EPD Gateway make it an excellent choice for high-volume businesses with an online sales channel. Unlike other high-risk payment processors, we understand that agility and flexibility are critical considerations for today’s business owners.

• The fee becomes a burden if the merchant does not process enough transactions.
• You are selling most products and services using recurring billing methods.
• A reputable payment processor should have no trouble giving you a quote for service.
• A payment gateway is a technical middleman between a merchant and a payment processor.
• This means it cannot support businesses that sell age-restricted products or services.

To start high risk companies do not get as good of rates as standard business types, period. As a payment service provider, Stripe does not service high-risk businesses.

For more detailed information, contact the sales department. Sophisticated payment fraud schemes require the most advanced security solutions to protect your clients.

If customer service quality is important to you, we recommend Durango, which has consistently received outstanding reviews of its customer service. PaymentCloud can help almost any business get approved for payment processing. Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services.

Soar Payments: Best for Instant Quotes

Unlike other payment processors that offer instant approvals, it typically takes high-risk processors a few days to complete the underwriting necessary before you can start accepting payments. In contrast, eMerchantBroker offers approvals https://www.wave-accounting.net/ for high-risk businesses in 24 to 48 hours, making it one of the speediest options available. Authorize net is a company that allows merchants to accept credit card payments on the site using checks and contactless methods.

• The above is not an all-inclusive list, as there are many more industries considered high risk by financial institutions.
• We strive to know your business inside and out and then create a strategy that fits.
• The biggest drawback is that it typically takes longer to obtain than a traditional merchant account due to the in-depth underwriting process.
• Staxpayments.com needs to review the security of your connection before proceeding.

Most high-risk companies find it challenging to choose a suitable processor and waste much of their hard-earned money. We have partnered with the global payment processors to streamline the process and find the right High-risk Merchant Service Providers in the UK. Quadrapay understands the high-risk merchants, and our approval rate is 99% of all the applicant merchants. You will submit your High Risk Merchant Account Payment Processing Providers last processing history when you apply for a merchant account. The document is first checked for genuineness, and then the underwriters look at the data. Your processing history will help the processor understand the following. Expected Monthly Sales Volume/Average Ticket Size/ Average Chargeback Volume/Average Chargeback Percentage/ Average Return Volume/Average Return Percentage.