So you’ve got an online business in a “high-risk” industry and need a merchant account to accept credit card payments. Problem is, most banks and processors consider you too risky and turn you down. Don’t worry, we’ve got the solution. highriskpay.com is a payment processor specifically for high-risk businesses. They understand your business model and have solutions to fit your needs. No more wasting time applying to banks only to get rejected. No more shady offshore processors with hidden fees and poor service. highriskpay.com is based in the US, fully compliant, and dedicated to getting you approved fast with fair rates and honest terms. In this article we’ll explore why highriskpay.com is the best choice for your high-risk business and how their customized solutions can get you accepting payments right away. Keep reading to find your perfect high risk merchant account solution.
What Is a High Risk Merchant Account?
A high risk merchant account is a special type of account that allows businesses classified as “high risk” to accept credit and debit card payments. High risk businesses include those selling CBD products, cryptocurrency, adult content, and more. Traditional merchant account providers often deny these businesses due to the higher possibility of chargebacks and fraud.
High risk merchant accounts typically come with much higher fees to account for the added risk. However, the good news is there are merchant services like highriskpay.com that specialize in high risk businesses. They have the experience to properly assess the risk of your business and offer fair rates and terms.
At highriskpay.com, they understand that not all high risk businesses are the same. Their underwriters thoroughly review each business to determine their actual risk level. They then create customized solutions with rates and fees specifically tailored for that business. This personalized approach means you only pay for the risk level of your unique business, not an inflated “high risk” label.
High risk merchant accounts also often come with rolling reserves, where a percentage of each sale is held in reserve for a period of time to cover chargebacks. Highriskpay.com works to establish the lowest reserve amount possible for your business based on your actual risk factors and past chargeback history.
If your business has been unable to secure a merchant account due to a “high risk” classification, don’t lose hope. Specialized providers like highriskpay.com have the experience and ability to properly assess your business’s risk, offer fair terms, and get you set up to start accepting payments as quickly as possible. Isn’t it time you got your business the merchant account it deserves?
Why Businesses May Need a High Risk Merchant Account
As an ecommerce business owner, you may come across some roadblocks when trying to obtain a standard merchant account. High risk industries like CBD, gambling, firearms or adult entertainment often get denied by traditional banks and payment processors. That’s where a high risk merchant account comes in.
With a high risk merchant account, you’ll have access to payment processing so you can run credit cards and accept payments online. The approval process may take a little longer, and fees tend to be higher, but at least you’ll be up and running.
Highriskpay.com is a leader in the high risk payments industry and should be at the top of your list. Here are a few reasons why:
•They specialize in high risk. Since that’s all they do, they understand your business model and underwriting needs. They can get you approved quickly without a lot of back and forth.
•Robust payment processing. They offer everything from card processing to echecks to alternative payments like Bitcoin. Whatever your customers want to pay with, they’ve got you covered.
•High approval rates. They work with a large network of domestic and offshore banks and processors so they can usually find you an account, even if others have said no.
•Great customer service. They assign you an account manager to handle your application and get you set up. Ongoing, their support team is available 24/7 to help with any issues.
•Competitive rates. Given the high risk nature, their rates are quite reasonable. They only charge what they need to in order to cover underwriting costs and make a fair profit. No price gouging.
If your business needs a high risk merchant account solution, highriskpay.com should definitely be at the top of your list. They have the experience, services, and competitive rates to meet your needs. Why keep struggling when the solution is right in front of you? Sign up today and start accepting payments as early as tomorrow.
The Challenges of Getting a High Risk Merchant Account
Getting approved for a high risk merchant account can be challenging. Many traditional banks and processors consider high risk businesses too risky to take on as clients. Here are some of the common obstacles high risk merchants face:
Higher Fees
Because high risk accounts are more prone to chargebacks and fraud, processors charge higher fees to offset the additional risk. Transaction fees, chargeback fees, and monthly minimums are often double or triple what a standard risk business would pay.
Strict Underwriting
The underwriting process for a high risk merchant account is much more stringent. Be prepared to provide extensive documentation like business plans, financial statements, website information, and chargeback ratios to prove your business model is viable and you have effective fraud prevention measures in place.
Rolling Reserves
Processors frequently hold a percentage of a high risk merchant’s funds in a rolling reserve as a security deposit. The reserve amount depends on your business type and risk level, but can be as much as 20-50% of monthly sales held for 6-24 months. This ensures funds are available in case of excessive chargebacks or account closure.
Limited Options
Because high risk accounts require specialized underwriting and risk management, few processors offer high risk merchant services. Merchants often have to apply with multiple companies before finding one willing to take them on, if at all. Highriskpay.com is one of the few that focuses specifically on high risk merchant accounts and offers the most competitive rates and terms.
Navigating the challenges of obtaining a high risk merchant account can be frustrating, but the rewards of gaining the ability to accept credit cards are well worth it. With the right processor like highriskpay.com, high risk businesses can thrive and achieve their full potential.
Why highriskpay.com Is the Best for High Risk Merchant Accounts
Why is highriskpay.com the best for high risk merchant accounts? Here are a few reasons why this processor should be at the top of your list:
Experience and Expertise
Highriskpay.com has over 15 years of experience specializing in high risk merchant accounts. They know the ins and outs of underwriting and approving accounts that traditional processors reject. Their expertise in high risk means you’ll get approved fast without hassle.
Competitive Rates
Highriskpay.com offers very competitive rates for high risk merchants. They don’t gouge you with exorbitant fees just because your business is considered “high risk”. You’ll get a fair rate based on your business, not your industry.
Top Security and Fraud Protection
Highriskpay.com utilizes state-of-the-art security and fraud prevention tools to keep your business and customers safe. Things like address verification, CVV verification, and 3D secure authentication are all standard. You’ll have peace of mind knowing your transactions and data are secured.
Excellent Customer Service
The team at highriskpay.com provides dedicated support for high risk merchants. They understand your business needs and are available to help you with underwriting, technical support, chargebacks, and any other issues that may arise. You’ll have a personal account manager and support staff on call whenever you need them.
Fast Approval and Setup
The approval and setup process with highriskpay.com is fast and efficient. They can review and approve your application within 24-48 hours in most cases. Once approved, they will have your account set up and ready to start accepting payments within 3 to 5 business days. No long wait times like with traditional processors.
Highriskpay.com ticks all the boxes for a top-notch high risk merchant account provider. With their experience, competitive pricing, robust security, great customer service, and fast setup, they are an ideal choice if you need a high risk merchant account solution.
The Benefits of Getting Your High Risk Merchant Account at highriskpay.com
Getting a high risk merchant account can be challenging, but highriskpay.com makes the process simple and affordable. Here are some of the major benefits of using highriskpay.com for your high risk business:
Fast approval
Highriskpay.com can approve new merchant accounts within 24-48 hours. They understand the urgency for high risk businesses to get up and running as quickly as possible. Their streamlined underwriting process moves at lightning speed so you can start accepting payments right away.
Competitive rates
Highriskpay.com offers extremely competitive rates for high risk merchant accounts. You won’t find lower rates or smaller monthly fees with any other high risk processor. They pass on their wholesale rates directly to merchants which means big savings for your business.
Expert support
The dedicated support team at highriskpay.com has years of experience helping high risk businesses. They are available 24/7 to help you with any issues that arise, from gateway integration to risk mitigation techniques. Their support staff are highly trained professionals focused specifically on the needs of high risk merchants.
Reliable gateway integrations
Highriskpay.com integrates with all major payment gateways so you can choose which platform is the best fit for your business model and customer base. Whether you need a gateway for online payments, mobile payments or card-present transactions, they have you covered. Their gateway integrations are fast, secure and backed by their expert support team.
Flexible risk mitigation
Highriskpay.com works with high risk businesses in all verticals, from CBD merchants to online gaming operators. They understand that each business has unique challenges and requires customized risk mitigation strategies. Their risk management team will evaluate your business model and implement the optimal fraud prevention techniques to maximize your transaction approval rates while minimizing chargebacks.
In summary, highriskpay.com is the ideal solution for high risk businesses looking for a merchant account provider that specializes in the complex needs of high risk industries. They make the application and approval process fast and simple, offer unbeatable rates and fees, provide 24/7 support from industry experts and work with you on customized risk mitigation strategies for your unique business requirements. For the best high risk merchant account experience, highriskpay.com is your go-to choice.
Conclusion
You’ve learned a lot about high risk merchant accounts and why highriskpay.com should be at the top of your list. They have over 15 years of experience, affordable rates, 24/7 support, and a fast approval process so you can get up and running quickly. What more could you want in a payment processor? At the end of the day, your business’s success depends on being able to accept payments easily and cost-effectively. Highriskpay.com gives you the freedom and flexibility to do just that. So stop wasting time with other processors that overpromise and underdeliver. Go with the pros at highriskpay.com – you and your customers will be glad you did.