Finding The Right Merchant Account Provider Specializing In High-Risk Businesses 


Being able to receive payment via credit or debit cards is probably one of the most important payment method of modern-day business, particularly for the e-commerce business. 

And while obtaining a merchant account is quite easy for the low-risk businesses, those that fall under the high-risk category faces difficulties. And although there are merchant account providers who focus and specialize in doing business with high-risk merchants, choosing the right high-risk merchant account provider can be quite challenging. 

Things To Consider In Choosing The Best High-Risk Merchant Account Provider

In order to guide you through the choosing process, here are some things that you need to consider if you want to find the right credit card payment processing partner.

  • Reputation and Experience

You need to keep in mind that the best high-risk merchant account providers provide payment gateways to high-risk businesses. Thus, you will need to ensure that you settle for a provider with enough market and industry experience and a good reputation before settling and applying for a merchant account. 

If you have no idea where to start, you can always ask your friends or colleagues to recommend a provider and create your own list of high-risk merchant account providers. Then, you can conduct market-oriented research and look for high-risk merchant account reviews on the internet in order to have insight on how long they’ve been in the industry and how they serve their customer base.

Just remember that you need to take special notes to any negative reviews since it shows the weaknesses of a certain high-risk merchant account provider. 

  • Services Offered

Finding a good and reputable provider is quite different than looking for the best high-risk merchant services that your business needs. 

Keep in mind that a high-risk merchant account provider will not only process all of your credit or debit card payments but will also offer your customers the benefits of having more secure and safer payment transactions.  

You can just make a simple comparison through the websites of the providers. A good high-risk merchant account provider should offer services such as high street banks as well as various MSPs, ISOs, PSPs, and payment facilitators.

  • Rates and Fees

A good provider should offer all kinds of payment processing solutions at an affordable and competitive rate. Most high-risk providers offer high-risk businesses expensive deals due to their high-risk status, however, it should never be an excuse. 

Thus, you will need to look for a provider that offers a friendly rate of payment processing services for your business. Take note that the fees and rates for a high-risk merchant account usually depend on the registration process with the card brands, the business types and other factors. 

For instance, if you wish to create a merchant account with both Visa and MasterCard and have an MCC which requires a card registration, then you’ll need to spend as high as $1,000 annually. 

  • Customer Support

Another thing you need to look for is a high-risk merchant account offers customer service. A highly professional customer care support that can be easily accessed on all platforms— social media, email, phone or live chat— shows how a provider keeps their client’s satisfied and respond to issues and problems that may arise.

These customer support services are handy whenever you need help concerning your merchant account or card processing. A high-risk merchant account provider should be able to connect and interact with their clients on clear terms and offer assistance whenever needed. It should also make the application process a lot smoother and more streamlined. 

Finding A High-Risk Merchant Account Provider

Here are some tips on how you can easily find the right merchant account provider for your high-risk business:

  • Search the internet for a list of the best high-risk merchant account providers review that handles your business payment needs. You need to use the right keywords and avoid being quick in engaging with their services unless they meet your business criteria and the factors above. The most common processors include Union Pay, Visa, MasterCard, Diners Club, and American Express. 
  • When you find a provider that suits your business needs and requirements, then you need to start asking important questions regarding the provider’s ability to handle your requests. Such queries usually include the merchant business, type of industry, maximum and minimum ticket size, company websites, and fraud and chargeback prevention systems of the company. 
  • Get a clear idea of the fees and charges associated with the merchant account services that you since it will cost money to get approved and creating an account. In general, the services rendered are paid with some merchant account providers charging less in creating a high-risk merchant account but demanding a higher fee for every transaction. The rates and fees in creating and using the high-risk merchant account should be analyzed and checked whether they are reasonable or not.
  • If available, make use of a merchant account provider’s demo services in order to understand how their services actually operate. 

A Few Things To Note

A true and legitimate high-risk merchant account provider should have transparency on its website. They should have any form of accreditation and verification that can be reviewed by a merchant. 

Although some of these documentations are mandatory, others may just be supplementary giving clients insight about the high-risk merchant account provider. Such things that you can look for to see if a merchant account provider is legit include:

  • Fully functional company website. Take note that the website needs to be SSL protected. 
  • The company’s customer support email address and number should be indicated on the website’s contact page and homepage.
  • Homepage header menu
  • All policies including Refund Policy, Terms, and Conditions, Cookie Policy, Privacy Policy should be visible on the company website. 
  • There should also be a list of services and products offered by the company including the details and pricing as well as the estimated subscription time or date of delivery.
  • Homepage header menu