Your Options for High Risk Payment Processing
May 21, 2023
Is your company categorized as needing a high risk merchant account? Have you already been turned down by other credit card payment processors? This is a common problem that high risk business owners face. So, how can you get approved for payment processing?
This article will provide you with answers to your questions.
As Soon as Your Business is Labeled High Risk
Many small businesses, startups, and eCommerce retailers have ideas of what to expect but are unsure of where to turn. Among the things that can put these businesses into being categorized as needing a high risk merchant account has to do with the nature of their business. If a traditional bank believes you’re too insecure to get qualified for payment processing, you’re going to be rejected. The same is true with aggregate payment processors.
It is not impossible to get approved for payment processing, though it can be difficult to even locate the superior credit card payment processing companies over those who are lacking. The thing is, this makes high risk merchant accounts increasingly difficult to sign up for in the first place. Rather, high risk merchants should research all of the options that are available so they can make the choice that is best for their specific company needs.
What aspects make getting approved for a high risk merchant account so difficult? Well, the matter is that high risk merchants are often vulnerable to a higher ratio of chargebacks. Furthermore, they may wind up with finance holds, excessively substantial charges or rates, or processings fees that are just unreasonable. That’s why these types of businesses should find a respectable payment processor that specializes in approving high risk merchant accounts and understands their business needs.
High Risk Payment Processing From PayKings
To get approved for a high risk merchant account, you need to satisfy the payment processing or traditional bank’s underwriting procedures. The difficulty that high risk companies have with the underwriting procedures for high risk merchant accounts forces them to search for alternative payment processing companies, including offshore merchant accounts and high risk merchant accounts.
PayKings supports a wide range of high risk merchant account businesses. PayKings has years of experience dealing with approving high risk merchant accounts for as many as tens of thousands of retailers that are hard-to-approve due to being high risk. Merchants value PayKings for offering fair pricing and superior customer care.
PayKings works equally with conventional and high risk merchants and aims to offer credit card payment processing solutions to every merchant, regardless of the type of business they operate, because PayKings cares.
We talk to each and every retailer to get a clearer idea of their business needs and which solutions would best suit their needs. PayKings is extremely transparent about its process and its pricing and can offer solutions to high risk merchants at the absolute lowest rates in as little as six hours.
What You Can Expect:
- The ability to process debit and credit card transactions
- Small business funding for high risk merchants, including cash advances as fast access to working capital, in addition to ACH business funding options.
- Partnerships with chargeback shield protection companies
- Quick and easy approval process
- No cost and hassle-free application process
- Safe gateways, including PayKings own gateway
- No application or setup charges
May 21, 2023 | High Risk Merchant Account | Dustin