09 of the Best High-Risk Merchant Account Services in 2023

In the ever-changing e-commerce landscape, businesses need secure and dependable payment processing solutions. However, high-risk industries like online gaming, adult entertainment, and CBD products make finding a merchant account service daunting. High-risk merchant account services address this need, offering specialized solutions designed specifically for these industries.

As we embark on the year, we are witnessing a new wave of advancements in high-risk merchant payment processing, with a handful of leading providers taking center stage in the market. This insightful blog post will explore the top 09 high-risk merchant account services businesses can consider to ensure smooth and secure payment processing throughout the upcoming year.

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What is a High-Risk Merchant account?

A high-risk merchant account is tailored for businesses operating in industries considered higher risk by financial institutions. These accounts address the unique requirements of such companies. High-risk industries encompass sectors like online gaming, adult entertainment, travel services, CBD products, and nutraceuticals. These merchants face increased scrutiny due to factors like elevated chargeback rates, regulatory concerns, and potential reputation damage. Consequently, accessing traditional payment processing services can be challenging for them.

Why do businesses need High-Risk Merchant accounts?

Businesses in high-risk industries require high-risk merchant accounts for several reasons:

Regulatory Compliance:

High-risk industries are subject to stringent regulations and compliance requirements. A high-risk merchant account ensures businesses adhere to these regulations, mitigating penalties or legal issues. These specialized accounts provide the necessary tools and expertise to navigate complex compliance landscapes and maintain lawful operations.

Chargeback Risk Mitigation:

High-risk businesses face a higher likelihood of chargebacks due to factors such as subscription billing models, large transaction volumes, or increased fraud risks. High-risk merchant accounts offer specialized chargeback management tools and fraud prevention systems. These resources help businesses minimize chargeback financial impact, protect against excessive losses, and maintain healthy financial stability.

Expanded Payment Options:

Traditional payment processors are often reluctant to serve high-risk industries, resulting in limited payment options for these businesses. High-risk merchant accounts bridge this gap by allowing businesses to accept various payment methods. This includes credit cards, debit cards, e-checks, and alternative payment solutions.

Businesses can enhance customer satisfaction, improve convenience, and potentially increase conversion rates by offering diverse payment options.

Top 10 High-Risk Merchant Account Services in 2023

Finding a trustworthy payment processing solution can be challenging for merchants operating in high-risk industries. Thankfully, high-risk merchant account services exist to address this specific need by providing specialized payment solutions that mitigate the risks associated with these industries. Here are the top 08 high-risk merchant account services that will dominate the industry in 2023.

01. PaymentCloud

Rating:

☆☆☆☆☆ 4.5/5

4.5 Outstanding

Why did we picked it?

PaymentCloud is a premier merchant services provider that excels in offering specialized high-risk merchant accounts. Not limited to high-risk businesses, PaymentCloud also caters to medium- and low-risk enterprises. Their comprehensive services cover various payment methods, including online and in-person credit card transactions, ACH transfers, QR code payments, and cryptocurrency payments.

As a prominent player in the industry, PaymentCloud has established a strong reputation for its expertise in handling payment processing for businesses operating in high-risk sectors. By delivering secure payment solutions, PaymentCloud has become a trusted ally for merchants seeking reliable and efficient payment services.

PaymentCloud’s main advantage lies in its tailored services for high-risk industries. Their offerings encompass essential features such as secure payment gateways, advanced fraud prevention tools, flexible recurring billing options, and multi-channel payment processing.

Key Features

Here are some of the key features of PaymentCloud:

Point-of-sale (POS) solutions: PaymentCloud offers a variety of POS solutions for businesses of all sizes. This includes countertop terminals, credit card readers, and mobile POS apps.
Payment gateway services: PaymentCloud offers a payment gateway that allows businesses to accept payments online. The gateway is PCI compliant and supports a variety of payment methods, including credit cards, debit cards, and PayPal.
Payment processing for alternative payment methods: PaymentCloud also offers payment processing for alternative payment methods, such as cryptocurrency and QR codes.
Competitive pricing: PaymentCloud offers competitive pricing for merchant accounts. The company’s pricing is based on a variety of factors, including the type of business, the volume of transactions, and the payment methods accepted.
Superior customer service: PaymentCloud has a reputation for superior customer service. The company offers 24/7 customer support and is available to help businesses with any payment processing issues.

If you are looking for a reliable and affordable merchant services provider, PaymentCloud is a good option. The company offers a variety of features and benefits that can help businesses grow.

Pricing and transaction fees:

PaymentCloud does not publicly disclose hardware, software, or payment processing prices. To obtain a quote, you need to call and speak with a salesperson. PaymentCloud also works with ISOs, so be cautious of price quotes and shop around. Signing up directly with PaymentCloud is recommended to avoid extra fees.

Verdict:

PaymentCloud stands out as a leading high-risk merchant account service provider, offering secure and reliable payment solutions for businesses operating in high-risk industries. With their extensive range of features, robust security measures, competitive pricing, seamless integration options, and positive customer feedback, PaymentCloud proves to be a trustworthy partner for high-risk merchants looking to optimize their payment processing capabilities.

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02. National Processing

Rating:

☆☆☆☆☆ 4.3/5

4.3 Outstanding

Why did we picked it?

National Processing is a leading merchant account provider that offers a diverse range of payment processing solutions catering to businesses of all sizes. Established in 2004 and headquartered in Orem, Utah, the company has built a strong reputation for its commitment to secure payment processing and exceptional customer satisfaction.

Specializing in high-risk merchant account services, It understands the unique needs of businesses in challenging industries. As a trusted partner, they provide reliable and efficient payment solutions tailored to meet high-risk merchants’ specific requirements.

National Processing offers a comprehensive suite of services designed specifically for high-risk businesses. Their feature-rich offerings include secure payment gateways, virtual terminals, mobile payment solutions, and point-of-sale (POS) systems. These versatile solutions empower businesses to accept payments through multiple channels, providing both merchants and customers with flexibility and convenience.

National Processing employs robust security measures to safeguard sensitive customer data and combat fraudulent activities. Advanced security protocols, such as data encryption, tokenization, and secure socket layer (SSL) technology, ensure transaction confidentiality and integrity. Additionally, National Processing’s vigilant fraud detection systems proactively identify and mitigate potential risks, offering comprehensive protection against financial losses.

Key Features

National Processing offers a wide range of features, including:

Credit card processing: National Processing offers credit card processing for businesses of all sizes. The company’s rates are competitive, and it offers a variety of pricing plans to fit your budget.
ACH processing: National Processing also offers ACH processing, which is a type of electronic payment processed directly from your customer’s bank account. This is an ideal option for businesses that need to accept recurring payments or payments from customers without credit cards.
Ecommerce processing: National Processing offers ecommerce processing, which is a type of payment processing used for online businesses. The company integrates with popular ecommerce platforms, such as Shopify and WooCommerce, so you can easily accept payments on your website.
Mobile processing: National Processing also offers mobile processing, which allows you to accept payments using any device. This is an ideal option for businesses that need to accept payments on the go.
POS software: National Processing also offers POS software, which helps you manage sales, inventory, and payments. This is an excellent option for businesses that need a comprehensive solution for payment management.
Fraud protection: National Processing offers fraud protection, which protects your business from fraudulent transactions. The company uses a variety of fraud prevention methods, such as AVS and CVV verification, to keep your business safe.
Customer support: National Processing offers 24/7 customer support, so you can get help with any problems you may have. The company’s customer support team is knowledgeable and helpful, and they are always willing to walk the extra mile to help you.

The company’s rates are competitive, and its customer support team is responsive and helpful. Consider National Processing if you are seeking a reliable and affordable merchant account provider.

Pricing and transaction fees:

National Processing offers flexible pricing plans to fit your budget and meet your specific needs. With options for restaurant, retail, and e-commerce businesses starting at $9.95, ACH processing at $15, cash discounting at $39.95, and subscription plans starting at $59, National Processing ensures you can find the right plan to align with your financial goals. They prioritize evaluating your requirements to provide transparent and customizable pricing options.

Verdict:

National Processing is a trusted high-risk merchant account service provider offering secure and comprehensive payment solutions. With their robust features, advanced security measures, competitive pricing, seamless integration options, and customer testimonials, National Processing stands out as a reliable partner for businesses operating in high-risk industries. Their commitment to providing efficient and secure payment processing services positions them as a valuable asset to high-risk merchant success and growth.

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03. Highriskpay.com

Rating:

☆☆☆☆☆ 4.5/5

4.5 Outstanding

Why did we picked it?

High Risk Pay, established in 1997, is a leading private financial services company that provides tailored solutions for businesses operating in high-risk industries. With highriskpay.com headquarters in the Greater Los Angeles area on the United States’ West Coast, we have assisted businesses in the financial services and accounting industry for over two decades.

Highriskpay.com high-risk merchant allows to understand the unique challenges they face. As a trusted name in the industry, we offer reliable and secure payment processing solutions to address these challenges effectively. It lies in serving businesses operating in sectors that are considered high-risk due to factors such as higher chargeback rates, regulatory restrictions, or a higher potential for fraudulent activities.

Highriskpay.com is a specialized high-risk payment merchant service provider catering to various industries, including adult entertainment, online gambling, travel and tourism, pharmaceuticals, and e-cigarettes. Due to perceived risks associated with their operations, these industries often struggle to find payment processing solutions from traditional financial institutions.

Key Features

Here are highriskpay.com’s key features:

Effortless Application Process: highriskpay.com shines with its user-friendly and streamlined application process. High-risk merchants can easily apply for platform services without unnecessary obstacles.
Competitive Pricing: Recognizing high-risk businesses’ financial challenges, highriskpay.com offers competitive rates and transparent pricing models.
Dedicated Account Manager: highriskpay.com reaches above and beyond by assigning each high-risk merchant a dedicated account manager. This personalized approach ensures merchants receive tailored attention and support throughout their partnership with highriskpay.com.
24/7 Customer Support: highriskpay.com excels at providing exceptional customer support and understanding prompt assistance. The platform offers 24/7 customer support, catering to merchants’ concerns or questions anytime.
Robust Fraud Protection: Given high-risk industries’ susceptibility to fraudulent activities, highriskpay.com prioritizes fraud prevention. The platform employs advanced fraud protection measures to safeguard merchants and their customers.
PCI DSS Compliance: Security and compliance are paramount to highriskpay.com. The platform follows the Payment Card Industry Data Security Standard (PCI DSS).

Highriskpay.com offers comprehensive features and functionalities tailoredto high-risk merchants’ needs.

Pricing and transaction fees:

Retail (Good Credit, Card Swipe): 1.79% processing rate, $0.25 per transaction fee, $9.95 monthly service fee.
Mail/Phone Order (Good Credit): 2.19% processing rate, $0.25 per transaction fee, $9.95 monthly service fee.
Internet (Good Credit): 2.19% processing rate, $0.25 per transaction fee, $9.95 monthly service fee.
Retail (Bad Credit, Card Swipe): 2.49% processing rate, $0.25 per transaction fee, $9.95 monthly service fee.
Mail/Phone Order (Bad Credit): 2.95% processing rate, $0.25 per transaction fee, $9.95 monthly service fee.
Internet (Bad Credit): 2.95% processing rate, $0.25 per transaction fee, $9.95 monthly service fee.
High Risk: 2.95% processing rate, $0.25 per transaction fee, $9.95 monthly service fee.
International: 3.50% – 6.95% processing rate, $0.50 per transaction fee, $9.95 monthly service fee.
Adult Merchant: 2.95% processing rate, $0.50 per transaction fee, $9.95 monthly service fee.

Verdict:

In conclusion, highriskpay.com is an ideal solution for high-risk merchants, offering a wide range of features and functionalities specifically designed to meet their unique needs. With a user-friendly application process and competitive rates, merchants can easily get started on the platform. Dedicated account managers and round-the-clock customer support ensure that merchants receive personalized assistance whenever they need it.

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04. Durango Merchant Services

Rating:

☆☆☆☆☆ 4.2/5

4.2 Excellent

Why did we picked it?

Durango Merchant Services is a trusted merchant account provider offering diverse payment processing solutions to businesses of all sizes. Established in 1999 and headquartered in Durango, Colorado, the company has gained recognition for its expertise in secure payment processing and unwavering commitment to customer satisfaction.

Renowned for specializing in high-risk merchant accounts, Durango Merchant Services excels at providing tailored solutions to businesses operating in high-risk industries. Their extensive range of services meets high-risk merchants’ unique needs. Offerings include secure payment gateways, virtual terminals, online payment solutions, and mobile payment options. These versatile features empower businesses to accept payments through various channels, ensuring flexibility and convenience for both merchants and customers.

Durango Merchant Services places a high priority on customer data security. Robust security measures are implemented to mitigate risks and prevent fraudulent activities. Advanced encryption technology, SSL certificates, and secure tokenization transactions safeguard against unauthorized access. Durango Merchant Services detects and contains fraudulent transactions with dynamic fraud prevention systems. This ensures the utmost safety and integrity of payment processing for high-risk merchants.

Key Features

Durango Merchant Services offers a wide range of key features that make it an attractive choice for businesses operating in high-risk industries:

Secure Payment Processing: Durango Merchant Services prioritizes transaction security and customer data protection. They utilize advanced encryption technology, SSL certificates, and tokenization to ensure fast payment processing and safeguard against unauthorized access.
Tailored Solutions for High-Risk Industries: Durango Merchant Services understands high-risk businesses’ unique challenges. They provide customized solutions that address industry-specific requirements and mitigate risks, offering tailored payment processing options.
Multiple Payment Channels: Durango Merchant Services supports various payment channels, including online payments, virtual terminals, and mobile payments. This flexibility allows businesses to accept payments through different channels, providing convenience to customers and expanding revenue opportunities.
Robust Fraud Prevention Measures: It employs advanced detection systems to identify and prevent fraudulent transactions. With sophisticated algorithms and real-time monitoring, they protect high-risk merchants from financial losses by detecting suspicious activities.
Integration with E-commerce Platforms: It seamlessly integrates with popular e-commerce platforms, shopping carts, and other software systems. This simplifies the payment integration process, ensuring compatibility with existing infrastructure and streamlining operations.
Dedicated Customer Support: Durango Merchant Services provides reliable customer support to assist businesses with inquiries or issues related to payment processing. Their knowledgeable support team is readily available, ensuring a smooth payment experience for merchants and their customers.
Reputation and Trust: Durango Merchant Services has earned a strong reputation in the industry, earning high-risk merchants’ trust. Their commitment to reliability, security, and customer satisfaction has established them as a trusted partner in high-risk merchant account services.

These features make Durango Merchant Services a reliable and comprehensive solution for businesses in high-risk industries seeking efficient and secure payment processing services.

Pricing and transaction fees:

While Durango specializes in high-risk merchant accounts, they do not openly disclose their fees on their website, which may raise concerns for some. However, standard rates are challenging due to high-risk charges. The recommended approach is to contact Durango directly to negotiate your rates. Based on our observations, they are known to be fair in their pricing, considering the specific requirements of their niche market.

Verdict:

Durango Merchant Services is a reputable high-risk merchant account service provider offering secure and tailored payment solutions. With their comprehensive features, robust security measures, competitive pricing, seamless integration options, and customer testimonials, Durango Merchant Services stands as a reliable partner for businesses operating in high-risk industries. Their commitment to delivering secure and efficient payment processing services makes them an invaluable asset in supporting the success and growth of high-risk merchants.

👍 Pros

👎 Cons

05. Host Merchant Services

Rating:

☆☆☆☆☆ 4.3/5

4.3 Outstanding

Why did we picked it?

Host Merchant Services (HMS) is a trusted merchant account provider offering a comprehensive suite of payment processing solutions for businesses of all sizes. Established in 2010 and headquartered in Newark, Delaware, HMS has become a recognized industry leader.

Host Merchant Services offers high-risk merchants a wide range of services tailored to their needs. These include secure payment gateways, virtual terminals, online payment solutions, and mobile payment options. By offering such diverse features, HMS empowers businesses to accept payments through multiple channels, enhancing convenience for merchants and customers.

Security is a top priority for Host Merchant Services. They employ robust measures to protect sensitive customer data and prevent fraudulent activities. These measures include advanced encryption technologies, tokenization, and secure socket layer (SSL) protocols for secure data transmission. Host Merchant Services also utilizes sophisticated fraud detection systems to identify and mitigate potential risks.

Key Features

Key Features of Host Merchant Services:

Comprehensive Payment Solutions: Host Merchant Services offers various payment solutions tailored to high-risk merchants’ needs. These include secure payment gateways, virtual terminals, online payment solutions, and mobile payment options, providing flexibility and convenience.
Robust Security Measures: Host Merchant Services prioritizes customer data security and implements advanced security measures. This includes encryption technologies, tokenization, and secure socket layer (SSL) protocols to ensure sensitive information transmission.
Transparent Pricing Structure: Host Merchant Services provides exemplary pricing models, clearly outlining setup fees, monthly fees, and transaction fees. This transparency allows merchants to understand the costs and make informed decisions based on their specific budgets and requirements.
Seamless Integration: Host Merchant Services offers seamless integration options with popular e-commerce platforms, shopping carts, and point-of-sale (POS) systems. This enables merchants to easily integrate payment solutions into their existing systems, minimizing disruptions and ensuring compatibility.
Dedicated Customer Support: Host Merchant Services provides reliable customer support to assist merchants with any inquiries or issues related to payment processing. Their knowledgeable support team is readily available to provide timely assistance and ensure a smooth payment experience.
High-Risk Industry Expertise: Host Merchant Services has extensive experience serving high-risk industries. They understand these businesses’ unique challenges and offer tailored solutions to address their specific needs and compliance requirements.
Testimonials and Case Studies: Host Merchant Services showcases customer testimonials and case studies highlighting successful partnerships and positive experiences. This provides prospective clients real-world examples of how Host Merchant Services has helped businesses in high-risk industries overcome challenges and succeed.

These key features make Host Merchant Services a reliable choice for businesses seeking secure and tailored payment processing services.

Pricing and transaction fees:

Host Merchant Services may be viable as they claim no application fees, setup fees, or hidden charges. Moreover, they offer free equipment.

Transaction fees with Host Merchant Services vary depending on the type of business. For restaurants, the processing rate is 0.20% plus nine cents per transaction; for retail, it’s 0.25% plus ten cents; and for e-commerce, it’s 0.35% plus ten cents.

While some fees are disclosed on their website, additional costs may be associated with their services. They have a monthly $14.99 fee and an annual 1099 reporting fee of $24. The choice of the gateway may also incur separate costs.

Not all fees are available on their sites. To understand your potential costs comprehensively, you can request a free quote from Host Merchant Services by completing an online form and working with a specialist through the quote process. They even offer a $50 gift card if they cannot match or beat another price.

Verdict:

Host Merchant Services is a trusted provider of high-risk merchant account services, offering secure and tailored payment solutions. With their comprehensive features, robust security measures, transparent pricing, seamless integration options, and customer testimonials, Host Merchant Services stands as a reliable partner for businesses operating in high-risk industries. Their commitment to secure and efficient payment processing positions them as a valuable asset in supporting the success and growth of high-risk merchants.

👍 Pros

👎 Cons

06. Soar Payments

Rating:

☆☆☆☆☆ 4/5

4.0 Very Good

Why did we picked it?

Soar Payments is a leading merchant services provider catering to high-risk merchants, including those labeled as “high risk.” Renowned for their reliability and commitment to security, Soar Payments has emerged as a trusted partner for businesses operating in high-risk industries, offering efficient payment processing services.

Their comprehensive suite of services is meticulously tailored to meet high-risk industries’ unique needs. This includes payment gateways, virtual terminals, online payment options, and mobile payment capabilities. By providing various features, Soar Payments empowers businesses to accept payments through multiple channels, offering flexibility and convenience to both merchants and customers.

Security is essential to Soar Payments. They employ advanced security measures to protect sensitive customer data and mitigate fraudulent activities. Through encryption technologies, secure socket layer (SSL) protocols, and tokenization, Soar Payments ensures data transmission and storage. Real-time fraud monitoring and detection systems are also in place to swiftly identify and prevent potentially fraudulent transactions, maintaining the highest security and integrity in payment processing.

Seamless integration is another critical focus for Soar Payments. They offer integration options with popular e-commerce platforms, shopping carts, and point-of-sale (POS) systems. This enables businesses to seamlessly integrate Soar Payments’ payment solutions into their existing systems, minimizing disruptions and ensuring compatibility with their infrastructure. Soar Payments integration options streamline payment processing and improve operational efficiency.

Key Features

Key Features of Soar Payments:

Tailored Payment Solutions: Soar Payments provides customized payment solutions specifically designed for businesses operating in high-risk industries. These solutions cater to high-risk merchants’ unique needs and requirements, offering flexibility and efficiency in payment processing.
Advanced Security Measures: Soar Payments prioritizes customer data security and implements advanced security measures to safeguard sensitive information. This includes encryption technologies, secure socket layer (SSL) protocols, and tokenization to ensure secure transmission and storage of data, reducing data breaches risk.
Transparent Pricing Structure: Soar Payments offers transparent pricing structures, providing merchants with a clear understanding of the costs involved. They outline setup, monthly, and transaction fees upfront, ensuring transparency and enabling merchants to make informed decisions.
Seamless Integration: Soar Payments offers seamless integration options with popular e-commerce platforms, shopping carts, and point-of-sale (POS) systems. This enables businesses to easily integrate Soar Payments’ payment solutions into their existing systems, streamlining payment processing and enhancing operational efficiency.
Dedicated Customer Support: Soar Payments provides reliable customer support to assist merchants with any inquiries or issues related to payment processing. Their knowledgeable support team is readily available to provide timely assistance and address merchants’ concerns.
Expertise in High-Risk Industries: Soar Payments specializes in serving high-risk industries and profoundly understands such businesses’ unique challenges and compliance requirements. Their expertise allows them to offer tailored solutions for high-risk merchants’ specific needs.

These key features make Soar Payments a reliable choice for businesses needing secure and efficient payment processing services in high-risk industries.

Pricing and transaction fees:

Soar Payments stands out in the industry for its transparent pricing and fee structure. They have eliminated hidden fees often associated with less reputable processors. Their pricing varies based on risk level and merchant location.

For low-risk merchants, Soar Payments offers an interchange-plus pricing model. Swap fees range from 0.1% to 0.4% plus interchange, with a $0.15 per transaction fee. The monthly fee is $10.

Online businesses can benefit from Soar Payments’ online interchange-plus plan. Pre-sale fees range from 0.2% to 0.6% plus interchange, with a $0.15 per transaction fee. The monthly fee is $15.

High-risk US merchants can choose the US High-Risk plan. Per-sale fees range from 1.95% to 4.95% plus $0.25 per transaction, with monthly fees between $35 and $85.

For high-risk businesses without US owners targeting US customers, Soar Payments offers the Offshore High-Risk plan. Per-sale fees range from 4.95% to 8.0%, with a variable transaction fee from $0.25 to $1.00. Monthly fees range from $55 to $120.

Remember to discuss your business needs and concerns with a Soar Payments representative to determine the best fit for your payment processing requirements.

Verdict:

In conclusion, Soar Payments offers comprehensive payment solutions, advanced security measures, transparent pricing structures, seamless integration options, and customer testimonials. With their focus on delivering reliable and secure payment processing services, Soar Payments stands out as a trusted partner for businesses operating in high-risk industries. Their commitment to providing efficient and secure payment solutions contributes to the success and growth of high-risk merchants.

👍 Pros

👎 Cons

07. Easy Pay Direct

Rating:

☆☆☆☆☆ 4/5

4.0 Very Good

Why did we picked it?

Easy Pay Direct is a leading provider of high-risk merchant account services, specializing in secure and reliable payment solutions for businesses operating in high-risk industries.

It offers comprehensive, tailored services to meet high-risk industries’ needs. These include payment gateways, virtual terminals, online payment solutions, and mobile payment options. Easy Pay Direct empowers businesses to seamlessly and conveniently accept payments by providing a diverse array of payment channels.

Easy Pay Direct ensures security. Robust security measures are implemented to safeguard customer data and prevent fraudulent activities. These measures include state-of-the-art encryption technologies, secure socket layer (SSL) certificates, and tokenization, ensuring data transmission and storage. Moreover, Easy Pay Direct employs advanced real-time fraud monitoring and detection systems to identify and prevent fraudulent transactions proactively.

This also emphasizes seamless integration, compatibility with popular e-commerce platforms, shopping carts, and point-of-sale (POS) systems. This enables businesses to seamlessly integrate Easy Pay Direct’s payment solutions into their existing systems without disruptive changes. Easy Pay Direct integration options improve payment processing and operational efficiency.

Key Features

Easy Pay Direct is a merchant account provider that specializes in high-risk businesses. They offer a variety of features, including:

Tiered pricing: Easy Pay Direct’s pricing is based on a tiered system. Your rates will depend on your business’s industry, risk profile, and the transactions you process.
No annual or startup fees: Easy Pay Direct does not charge any yearly or startup costs.
24/7 customer support: It offers 24/7 customer support to help you with any questions or problems.
Fraud protection: Easy Pay Direct offers fraud protection services to help you reduce the risk of fraud.
Hosted checkout: This also offers a hosted checkout solution that allows you to accept payments on your website without installing any software.
Recurring billing: Easy Pay Direct offers regular billing services that allow you to bill customers regularly.
Mobile payments: It supports mobile payment, so you can accept customer payments on their smartphones and tablets.
API integration: Easy Pay Direct offers an API to integrate their payment processing services into your website or application.

Easy Pay Direct offers a comprehensive set of features that can be beneficial for high-risk businesses. However, it is essential to compare quotes from other providers before deciding.

Pricing and transaction fees:

Easy Pay Direct prioritizes transparency in pricing, but due to its utilization of multiple back-end processors, listing every rate and fee is impractical. They offer flat-rate pricing for low-risk merchants, such as

1.59% + $0.17 for swiped card transactions.
2.39% + $0.29 for online card transactions.
1.6% + $0.29 for ACH/eCheck payments.

While interchange-plus pricing is advertised for all businesses, it’s uncertain if high-risk companies are included. High-risk providers typically offer tiered pricing plans for such enterprises. Contact Easy Pay Direct directly for clarity on pricing options for high-risk businesses.

Verdict:

Easy Pay Direct offers comprehensive payment solutions, robust security measures, transparent pricing structures, seamless integration options, and showcases customer testimonials. Their commitment to simplicity and convenience makes them a trusted choice for high-risk merchants in need of secure and efficient payment processing services. Easy Pay Direct’s reliable solutions contribute to businesses’ growth and success in high-risk industries.

👍 Pros

👎 Cons

08. SMB Global

Rating:

☆☆☆☆☆ 3.8/5

3.8 Good

Why did we picked it?

SMB Global is a dedicated merchant services provider catering to high-risk businesses. Their comprehensive range of services includes merchant accounts, international payment processing, chargeback prevention, and ACH payments.

SMB Global excels at providing seamless and secure payment processing solutions for high-risk industries. Their service offerings encompass payment gateways, virtual terminals, online payment solutions, and mobile payment options. By offering diverse payment channels, SMB Global empowers businesses to conveniently and securely accept payments.

Safeguarding customer data is a top priority at SMB Global, so they implement robust security measures. Encryption technologies, SSL certificates, and tokenization ensure secure transmission and storage. Furthermore, SMB Global leverages advanced fraud prevention tools and real-time monitoring systems to detect and prevent fraudulent activities.

SMB Global offers seamless integration options with popular e-commerce platforms, shopping carts, and point-of-sale (POS) systems to streamline payment processing operations. This enables businesses to seamlessly integrate SMB Global’s payment solutions into their existing systems, enhancing operational efficiency.

Key Features

Here are some of SMB Global’s key features:

Merchant accounts for high-risk businesses: SMB Global specializes in helping high-risk businesses get approved for merchant accounts. They have a network of trusted banking relationships that can help you get approved even if other providers have rejected you.
International payment processing: It offers global payment processing in over 100 countries. This allows you to accept payments from customers all over the world.
Chargeback prevention: SMB Global offers a variety of tools and resources to reduce chargeback risk. These include fraud monitoring, chargeback management, and dispute resolution.
ACH payments: It also offers ACH payments, a convenient way for customers to pay for goods and services with their bank accounts.
Expertise in high-risk businesses: SMB Global understands the challenges high-risk businesses face and can help you find the right solution.
Trusted banking relationships: It has a network of trusted banking relationships that can help you get approved for a merchant account even if other providers have rejected you.
Tools and resources to reduce chargebacks: It offers a variety of tools and resources to help you reduce your chargeback risk.
24/7 customer support: SMB Global has a dedicated customer support team to help you with any questions or problems.

SMB Global can be a valuable partner for a high-risk business. They can help you get approved for a merchant account, reduce chargeback risk, and grow your business.

Pricing and transaction fees:

SMB Global does not publicly disclose their pricing structure or transaction fees. However, they do offer a variety of pricing options, including tiered pricing, interchange-plus pricing, and flat-rate pricing. The specific pricing that you will be offered will depend on your business type, industry, and risk profile.

Verdict:

SMB Global offers secure payment solutions, robust security measures, transparent pricing, seamless integration options, and showcases customer testimonials. Their commitment to reliability and efficiency makes them a trusted choice for high-risk merchants in need of secure and efficient payment processing services. SMB Global’s solutions contribute to the growth and success of businesses operating in high-risk industries.

👍 Pros

👎 Cons

09. First Card Payments

Rating:

☆☆☆☆☆ 4/5

4.0 Very Good

Why did we picked it?

First Card Payments specializes in merchant account services tailored for high-risk businesses. Renowned for its exceptional customer service and ease of collaboration, First Card Payments offers various services, including credit card processing, e-commerce solutions, and business funding.

With a strong focus on streamlining payment processing, First Card Payments offers a comprehensive suite of services designed specifically for high-risk industries. These include payment gateways, virtual terminals, online payment solutions, and mobile payment options.

First Card Payments safeguards customer information. They employ robust security measures, including advanced encryption technologies, SSL certificates, and tokenization, to ensure secure data transmission and storage. Additionally, First Card Payments utilizes comprehensive fraud prevention systems and real-time monitoring tools to detect and prevent fraudulent activities proactively.

First Card Payments focuses on seamless integration. They offer compatibility with popular e-commerce platforms, shopping carts, and point-of-sale (POS) systems, facilitating the smooth integration of their payment solutions into existing systems.

Key Features

Here are some of First Card Payments’ key features:

High-risk merchant accounts: First Card Payments specializes in high-risk merchant accounts, which can be challenging to obtain from other providers. This makes it a good option for businesses in high-risk industries like gambling, adult entertainment, and CBD products.
Easy to work with: It is known for being easy to work with. They have a team of experienced professionals who can help you set up a merchant account quickly and easily.
Excellent customer service: First Card Payments is known for outstanding customer service. They are available 24/7 to answer your questions and help you with any problems.
Variety of services: First Card Payments offers various services, including credit card processing, e-commerce solutions, and business funding. This means that they can help you with all of your business needs.
Competitive rates: It offers competitive rates for high-risk merchant accounts. This means you can save money on credit card processing costs.
Secure processing: First Card Payments uses various security measures to protect your customer data. This means you can be confident that your data is safe when using First Card Payments for credit card processing.

First Card Payments offers several key features that make it a good option for high-risk businesses.

Pricing and transaction fees:

First Payment Merchant Services does not provide specific pricing details on its website. However, they mention that opening an account is free, and you will be charged a small percentage of your transactions for their services. They assure you that you will never pay more than you can afford. Additionally, a monthly fee is associated with the supply of your physical or virtual payment processing machine. For detailed information on pricing and costs, First Payment Merchant Services is recommended. They will be able to provide you with the specific pricing structure that suits your business needs.

Verdict:

First Card Payments offers secure payment solutions, robust security measures, transparent pricing, seamless integration options, and customer testimonials. Their dedication to reliability and innovation makes them a trusted choice for high-risk merchants in need of efficient and secure payment processing services. First Card Payments’ solutions contribute to the growth and success of businesses operating in high-risk industries.

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How do High-risk Merchant Accounts Differ from Regular Merchant Accounts?

Understanding the distinction between high-risk and regular merchant accounts is vital for businesses operating in industries with elevated risk levels.

First and foremost, high-risk merchant accounts are specifically tailored to businesses in industries deemed risky or prone to chargebacks. These industries encompass online gaming, adult entertainment, travel, nutraceuticals, and CBD products. On the other hand, regular merchant accounts cater to businesses in less risky sectors like retail, restaurants, and service providers.

One of the primary disparities between high-risk and regular merchant accounts lies in the scrutiny and requirements imposed by acquiring banks. High-risk businesses face more stringent underwriting criteria, including a comprehensive evaluation of their financial stability, credit history, and industry compliance. Regular merchant accounts, however, have looser requirements due to their lower risk profiles.

Another notable distinction is the fees associated with each account type. High-risk merchant accounts typically entail higher costs due to the increased risk exposure associated with the industry. Acquiring banks charge higher transaction fees and may require a rolling reserve. This is where the bank holds a portion of each transaction for a specified period to mitigate potential chargebacks or financial losses. Conversely, regular merchant accounts generally have lower fees as they are lower risk.

Lastly, acquiring banks provide customer support differently for high-risk and regular merchant accounts. High-risk businesses often receive dedicated support from banks specializing in serving these industries. This specialized support is crucial as high-risk businesses face unique payment processing and risk management challenges.

What factors should I consider when choosing a high-risk merchant account service?

When choosing a high-risk merchant account service, several essential factors must be considered. Here are some key considerations:

Industry: Certain industries, such as gambling, adult entertainment, and CBD products, are high-risk. Merchants in these industries may encounter more difficulty obtaining approval for a merchant account and face higher fees.
Monthly sales volume: Merchants with substantial monthly sales volumes may negotiate lower fees with high-risk merchant account services.
Acceptance rates: Choosing a high-risk merchant account service with high acceptance rates is essential. This indicates that the service can efficiently process a significant percentage of merchant transactions.
Pricing: Comparing pricing structures of different high-risk merchant account services is essential. Consider factors such as interchange fees, assessment fees, and markup fees.
Customer service: Opt for a high-risk merchant account service that provides excellent customer service. Receiving prompt and practical assistance in case of issues is crucial.
Security: Prioritize a high-risk merchant account service that employs secure processing methods to protect customer data.
Reputation: Assess the high-risk merchant account service’s reputation before signing up. Read online reviews and seek recommendations from other merchants to gain insights into their track records.
Experience: Look for a high-risk merchant account service that works with businesses in your industry. This ensures the service understands your unique needs and can help you obtain merchant account approval.
Flexibility: Choose a high-risk merchant account service that offers flexibility. They should be able to accommodate changes in your business, such as fluctuations in monthly sales volume or adjustments to your industry.

Choosing a high-risk merchant account service can be daunting. However, by considering the above factors, merchants can find a service that meets their needs and helps them grow their business.

How can I maximize the benefits of a high-risk merchant account?

To maximize the benefits of a high-risk merchant account, implement the following strategies:

Choose the right provider: Select a reputable high-risk merchant account service provider that understands your industry’s specific needs and challenges.
Optimize risk management: Implement robust practices to minimize fraud and chargebacks. This may involve using advanced fraud detection tools, implementing strict verification processes, and closely monitoring transactions for suspicious activity.
Enhance security measures: Invest in robust security measures to protect sensitive customer data and prevent breaches. Implement encryption, tokenization, and other security protocols recommended by industry standards.
Diversify payment options: Offer various payment options to cater to diverse customer preferences. Accept major credit cards and alternative payment methods, and consider international payment capabilities if applicable to your business.
Streamline the checkout process: Simplify and optimize the checkout process to reduce friction and cart abandonment. Ensure a smooth user experience with minimal steps and an easy-to-use interface.
Focus on customer service: High-quality customer service can build customer trust and loyalty. Provide prompt and responsive support to address inquiries or concerns, reducing disputes and chargebacks.
Monitor and analyze data: Regularly review transaction data and analyze customer behavior to identify trends, patterns, and potential issues.
Stay compliant with regulations: Ensure strict compliance with industry regulations and payment processing rules. High-risk industries often have additional compliance requirements, so staying updated and adhering to these regulations is essential.
Build strong relationships with your provider: Establish a good working relationship with your high-risk merchant account provider. Regularly communicate with them, seek guidance, and leverage their expertise to optimize processing.
Adapt and improve: Keep an eye on industry trends, emerging technologies, and changing customer preferences. Stay adaptable and embrace innovations that enhance your payment processing capabilities and business performance.

You can maximize the benefits of your high-risk merchant account by using this strategy

Conclusion:

High-risk merchant account services ensure secure and efficient payment processing for businesses in high-risk industries. Understanding the significance of reliable payment solutions, identifying high-risk sectors, and navigating industry-specific challenges empower businesses to make informed decisions. Factors to consider include robust security measures, seamless payment gateway integration, transparent transaction fees, responsive customer support, and compatibility with popular e-commerce platforms. Evaluating different service providers helps businesses choose based on their unique requirements. Real-world case studies highlight how high-risk merchant account services have helped businesses overcome challenges and foster growth and stability in these sectors.

Frequently Asked Questions:

What is a high-risk merchant account?

A high-risk merchant account is a specialized payment processing account designed for businesses operating in high-risk industries. These industries may have higher chargeback rates, regulatory complexities, or reputational risks.

Why do high-risk businesses need a high-risk merchant account?

High-risk businesses require a high-risk merchant account to obtain reliable and secure payment processing services tailored to their industry needs. Regular merchant accounts may not be willing to take on the associated risks or have the expertise to handle the unique challenges high-risk businesses face.

What are the industries classified as high-risk?

Industries classified as high-risk can vary, but common examples include adult entertainment, online gambling, pharmaceuticals, travel and tourism, e-cigarettes, subscription services, and nutraceuticals. However, the classification can differ among payment processors, so it’s essential to check with each provider for their specific categorization.

What challenges do high-risk merchants face?

High-risk merchants face higher chargeback rates, stricter regulatory compliance, limited access to payment processors, potential fraud risks, and higher processing fees. These challenges require specialized solutions and expertise to navigate and mitigate risks effectively.

How do high-risk merchant account services help?

High-risk merchant account services provide tailored solutions that cater to the unique needs of high-risk businesses. They offer specialized risk management tools, fraud prevention measures, and expertise in dealing with the challenges specific to high-risk industries. These services enable companies to process payments securely, manage chargebacks effectively, and maintain compliance with industry regulations.

How do I choose the exemplary high-risk merchant account service?

When selecting a high-risk merchant account service, consider factors such as the provider’s experience serving high-risk industries, security measures and fraud prevention tools, pricing structure, and fees, customer support capabilities, and integration options with your existing e-commerce platform or systems. Evaluating these factors will help you decide based on your business requirements.

Can high-risk merchant account services help reduce chargebacks?

High-risk merchant account services often offer chargeback management tools and strategies to minimize chargebacks and their associated financial impact. These tools may include real-time transaction monitoring, risk assessment systems, and dispute resolution assistance.

Will obtain a high-risk merchant account guarantee approval for my business?

While high-risk merchant account services specialize in serving high-risk industries, approval is not guaranteed. Each payment processor has its own criteria and risk assessment processes. However, working with a reputable high-risk merchant account provider can increase your chances of approval and provide you with tailored solutions that meet your business needs.