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What is a high risk merchant account?

A high risk merchant account is a payment processing account for merchants that are classified in a high risk category. Businesses operating in these industries require custom solutions in order to obtain online credit card processing.

How do you know if your business has been categorized as a high risk merchant?

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CBD

We are the top ranking CBD payment processor for new and established businesses. Helping you get fast approvals for a sustainable CBD merchant account.

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Adult

We offer a range of adult merchant account solutions for many types of businesses. From adult toys to membership sites, we are your go-to adult credit card processor.

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Vape

If you’re looking for a vape merchant account, look no further. We are experts at getting fast approvals for vape payment processing accounts at competitive rates.

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Pawn Shops

Taking your sales from storefront to online requires a pawn shop merchant account. We have easily integrated payment gateways to upgrade your business fast.

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Credit Repair

Credit repair merchant accounts are essential for companies in the credit repair space. You provide credit solutions to your customers and we’ll take care of the payment processing.

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Ecommerce Products

Selling any type of merchandise through an ecommerce store has its risks. If you have high chargebacks or a subscription billing model, we have the merchant account you need.

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High Risk Merchant Account

If you are an eCommerce high risk company, PayKings has got you covered. Get pre-approved in as little as 6 hours* for a difficult to obtain high risk merchant account. Our team of experts considers your business type, business model, and restricted service or product types. We understand your needs and share essential high risk solutions. We also have established partners who can help you with fraud prevention, chargeback protection and gateway integration.

Our high risk payment gateway and direct network of 20+ banks and PSP's provides the connections you need to run your ecommerce store. Aggregate merchant providers have Terms and Conditions which exclude certain business types. Be sure to understand all of the regulations involved with your merchant provider and find one who has competitive rates and top notch customer service to help you get approved fast.

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High Risk Payment Gateway

PayKings offers payment solutions to businesses in high risk industries, which means that as payment processing providers, our banks are willing to accept the liability for the increased risk associated with those businesses that are categorized as needing a high risk merchant account. Our high risk payment gateway makes high risk credit card processing safer and more secure with integrated fraud solutions to prevent chargebacks.

High Risk Merchant Account
High Risk Credit Card Processing

High Risk Credit Card Processing

How do you know if your business has been categorized as needing high risk credit card processing? Well, the primary reason is other merchant accounts aren’t willing to take on the risk associated with your business. The acquiring bank or its representatives can close your account and hold funds, without notice, based on negative risk factors involved with your product or brand. Moreover, if you experience high levels of chargebacks or if your payment processor has dropped your account, you may need a high risk merchant account to start accepting credit card payments online.

High Risk Merchant Account Providers

Find the best high risk merchant account provider by knowing what to look for. Whether your ecommerce store is selling CBD oil, Adult Items, or Credit Repair Services, your merchant account should custom fit your business’s needs. With an integrated payment gateway that provides stable and scalable credit card processing, your site will be ready for new transactions.

High Risk Merchant Account Providers

CBD Merchant Account

Obtaining a CBD merchant account is critical for anyone running a new or existing business in this burgeoning field. With mainstream merchant account providers dropping accounts in this legally regulated industry, you’ll want to have a lasting solution so you can accept credit cards and sell CBD online. Certain regulations still apply, but high risk CBD merchant accounts are custom designed to accept this unique product.

If you’re selling edibles, flowers, or CBD for pets, we’ve got the payment processing solutions you need to grow your business. CBD payment processing comes with restrictions. You may have to show that your products have limited THC content, and you shouldn’t have medical claims that aren’t supported by the FDA. The good news is, as long as you meet certain requirements, you can easily obtain credit card processing for your CBD business.

High Risk Payment Processors

In your pursuit to find the best high risk payment processor, you’ll come across a number of different services and options. In order to find the best processor, you’ll want to be familiar with your business needs and capabilities. For example, you may need one who is willing to onboard an Adult business that was dropped by a major merchant, or a CBD company who is trying to find a sustainable solution.

Payment processors like PayKings, learn your goals and work with you to get you approved with long term solutions. Payment processing is key for your ecommerce store. It allows customers to confirm a purchase, and checkout with their choice of payment. Nowadays, credit cards are the preferred way to pay. Ensure that your website doesn’t have any barriers between your customer and their final purchase.

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Instant Approval

Certain businesses and industries can get instant approval on a high risk merchant account. In most cases however, banks will want to review your processing history and sales volume on a case-by-case basis. Each business is different and has their unique needs. If you don’t qualify for instant approval, PayKings will work to get your application processed fast. The usual time between start of the application and final approval is five to ten business days. This is standard for most high risk accounts.

ACH payment processing is a fast solution that’s often cheaper than credit card processing. Better yet, the approval times are faster still. Also known as direct debit, customers pay with a routing and account number. It’s often used for ongoing billing or subscription merchant accounts. Instant approvals happen when your information is complete and banks can review your file fast. Having all your necessary paperwork and a complete merchant application will help make the process quick and easy.

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High Chargeback Merchant Account

Many businesses are categorized as high risk due to the number of chargebacks they have. High chargebacks occur when there is an inconsistency in your product or supply chain, or sometimes when customers try to take advantage of your service. At Paykings, we work with our partners to reduce chargebacks and get you approved for a merchant account that is custom fit for your business needs.

Chargebacks occur for many reasons. The three most common are intentional fraud, friendly fraud, and merchant error. Intentional fraud is when someone tries to make an illegal purchase either by using stolen information or using illegal payment methods. In the case of friendly fraud, customers may file a chargeback after they received a product in order to keep both the item and payment. The last reason is merchant error. This happens if you forget to offer a refund, or you may not have received a notification that a customer wanted to return a product.

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Merchant Account

Your merchant account allows you to accept online payments from customers using both credit and debit cards. Working in conjunction with a payment gateway, you will have the ability to grow your website sales with a high risk credit card processing account that is suited for your business. Merchant accounts are bank accounts for your business. You can have one or many depending on the size of your business, and each has different fees and restrictions associated with them.

Merchant Account Fees

Merchant account fees vary according to your industry, sales volume, and company history. Our team of underwriters takes the time to learn about your business and create a custom merchant account for your unique needs. We discuss the standard fees involved and the capabilities your account provides. As a standard rule, the longer your processing history, and higher your sales volume, the lower risk your account. Part of the application process involves sharing your company details so you can get the lowest rate on your account.

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Strategic Partners:

Offshore Merchant Account Services

Our Offshore Merchant Account Services fill the gap with Multi-Currency acceptance, Cross-Border Acquiring, and placement of Non-Traditional Merchants

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