So you run an online business in a “high-risk” industry like adult entertainment or online gambling. You’ve probably had trouble finding a payment processor that will work with you. Most traditional merchant account providers consider your business too risky to take on as a client. The good news is, there are specialized high-risk merchant account providers that cater specifically to businesses operating in risky industries. One of the best is HighRiskPay.com. They understand the challenges of high-risk businesses and have solutions tailored to your needs. With HighRiskPay.com, you can get access to credit card processing so you can accept payments from customers all over the world. Stop losing out on sales and sign up for a high-risk merchant account today. HighRiskPay makes it easy, fast, and affordable for your business to start accepting credit cards. Isn’t it time you stop letting your “high-risk” label hold you back? HighRiskPay.com is here to help.
What Is a High Risk Merchant Account?
A high-risk merchant account is a business bank account that allows companies deemed “high-risk” to accept credit and debit card payments. These accounts are offered by payment processors that specialize in high-risk industries.
To understand high-risk merchant accounts, you first need to know what makes a business “high-risk.” Companies in industries like adult entertainment, gambling, replica goods, telemarketing, or those with a history of excess chargebacks can be classified as high-risk. Each processor determines risk on a case-by-case basis.
Why Are High-Risk Merchant Accounts Necessary?
Regular payment processors often deny high-risk businesses because they pose additional threats like fraud or chargebacks. High-risk merchant accounts provide a solution so these companies can still accept card payments from customers.
High-risk accounts do come with additional fees to account for the increased risk. Businesses should expect higher processing rates, non-refundable setup fees, rolling reserve requirements, and in some cases, early termination fees. The fees and terms will vary between different high-risk payment processors.
If your business has been deemed high-risk, don’t lose hope. Shopping at a few high-risk specialist payment processors and comparing their offers is the best way to find an account that suits your needs. With the right processor, high-risk businesses can have a stable solution for accepting payments and growing their company.
Benefits of Getting a High Risk Merchant Account at Highriskpay.com
Getting a high-risk merchant account from HighRiskPay.com is a smart move for your business. Here are some of the major benefits you’ll enjoy:
Fast Approval and Setup
Within 48 hours of applying, your high-risk merchant account will be ready to start accepting payments. No more waiting weeks or months to get approved like with traditional banks. HighRiskPay.com understands the urgency, so they work quickly to get your account set up.
HighRiskPay.com offers very competitive rates for high-risk businesses. They know how important low costs are, especially when you’re just getting started. With low rates for chargebacks, refunds, and other fees, more of your revenue stays in your pocket.
Excellent Customer Service
Have a question or run into an issue? HighRiskPay.com provides dedicated support for all their high-risk merchants. You’ll have a direct line to helpful representatives who understand your business needs. They’re available 24/7 via phone, email, and live chat to address any concerns.
High-risk industries often deal with higher instances of fraud, so top-notch security is essential. HighRiskPay.com uses advanced fraud screening and prevention tools to identify and stop fraudulent transactions before they happen. Your sensitive customer data and funds will be well protected.
A high-risk merchant account from HighRiskPay.com provides the benefits and solutions your business needs to succeed. With fast approval times, competitive rates, dedicated service, and strong fraud protection, you’ll be able to accept payments from customers all over the world. Why wait? Apply today and start growing your business.
Types of Businesses That Require a High Risk Merchant Account
Many business types are considered “high risk” by payment processors and banks, making it difficult to obtain a merchant account. If your business falls into this category, you’ll need to find a high-risk merchant account provider that specializes in serving these industries.
Companies that sell nutritional supplements, vitamins, and herbal products are often labeled high risk due to the potential for fraud. Highriskpay.com has experience working with nutraceutical brands and can provide merchant accounts to match your business needs. They understand the nuances of your industry and charge reasonable rates.
Adult Industry Merchants
The adult entertainment industry frequently struggles to find payment processing solutions. Highriskpay.com provides adult merchant accounts to businesses like cam sites, subscription sites, and adult product stores. They have a proven track record of serving these merchants and offer competitive pricing and chargeback protection programs.
Vape and E-Cigarette Merchants
Vape shops and e-cigarette retailers also encounter issues establishing merchant accounts due to the strict regulations surrounding their industry. Highriskpay.com is familiar with the vape and e-cig market and stays up-to-date with changing rules and laws. They can provide vape merchants with fully-compliant accounts to accept credit and debit card payments with confidence.
Other business types that often require high-risk merchant accounts include:
- Travel and timeshare companies
- Tech support and telemarketing brands
- CBD and hemp product retailers
- Cryptocurrency exchanges
If your business operates in a regulated or frequently fraudulent industry, a high-risk merchant account provider like Highriskpay.com may be your best option for secure and reliable payment processing. They have the experience and expertise to serve your unique business needs.
How to Apply for a High Risk Merchant Account at Highriskpay.com
Applying for a high risk merchant account at HighRiskPay.com is simple and straightforward. Once you submit your application, approval can be obtained within 24 to 48 hours so you can start accepting payments right away.
Gather Your Business Information
To get started, gather details about your business like your business name, address, phone number, website URL, business ID or EIN, and an estimated monthly volume of Visa/Mastercard sales. HighRiskPay will use this info to set up and configure your account.
Fill Out the Online Application
Head to HighRiskPay.com and click “Apply Now” to access their online application. The application only takes about 10-15 minutes to complete. You’ll enter the business details you gathered, and also provide personal information for business owners like SSN, DOB, and residential addresses.
Undergo a Risk Review
HighRiskPay will review your application to ensure you meet their risk management guidelines. As long as your business is legally registered and compliant, approval is likely. HighRiskPay approves 99% of all applicants for high risk merchant accounts.
Sign Your Merchant Agreement
Once approved, HighRiskPay will email you a merchant agreement to review and electronically sign. This agreement outlines the terms and conditions of your account like pricing, processing limits, and risk reserves.
Account Setup and Deployment
After signing your agreement, HighRiskPay will set up and deploy your new high risk merchant account within 1-2 business days. They’ll provide you with all the information to start processing Visa, Mastercard, and AMEX card payments through their payment gateway.
HighRiskPay makes the application process simple for high risk businesses. Their risk management team has years of experience in the payments industry, allowing them to approve 99% of applicants. With no setup or application fees, you have nothing to lose by applying for your high risk merchant account today.
FAQs About High Risk Merchant Accounts at Highriskpay.com
As a high risk business, you likely have some questions about high risk merchant accounts and how they work. Here are some of the most frequently asked questions we get at HighRiskPay.com.
Do I really need a high risk merchant account?
If your business is considered “high risk” by banks and payment processors, a high risk merchant account is essential to accepting credit card payments. Typical high risk businesses include CBD, e-cigarette and vape shops, tech support, travel, and telemarketing companies. Without a high risk merchant account, you won’t be able to accept payments from customers.
How much does a high risk merchant account cost?
Pricing for a high risk merchant account typically includes an account setup fee, a monthly statement fee, and processing rates. The exact fees vary depending on your business type and processing volume. At HighRiskPay.com, we work with you to determine the most affordable package for your needs. In some cases, we are able to provide month-to-month contracts without long-term commitments.
How long does the application process take?
The application process usually takes 3 to 7 business days. We will review your application and documentation within 2 business days. Once approved, your account can be set up and ready to accept live payments within a few days. We strive to provide the fastest approval times in the high risk industry.
Can I get a high risk merchant account for my online business?
Absolutely. HighRiskPay.com specializes in providing high risk merchant accounts for e-commerce businesses, including online CBD, e-cig, and supplement stores. We offer options for both domestic and offshore accounts to best suit your business needs. Our e-commerce packages include a secure payment gateway to safely process payments on your website.
Do you have any other questions about high risk merchant accounts? Contact us anytime at HighRiskPay.com. We’re here to help get your business approved and processing payments as quickly as possible.
So there you have it, everything you need to know about high-risk merchant accounts and why Highriskpay.com is the best choice if your business falls into that category. They have the experience, the expertise, and the solutions to handle whatever challenges your business faces in accepting payments. Their staff actually understands high-risk businesses and won’t judge you for it. They want you to succeed just as much as you do.
Stop losing sleep over how to accept payments from your customers or worrying that your account will get shut down again. Highriskpay.com has got your back. Sign up today and get the secure, reliable payment processing you need so you can get back to doing what you do best – running your business. The only thing high-risk about it will be the name.