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The #1 High Risk Payment Processor

High-Risk Merchant Services: Tailored Solutions for Your Business

Running a business in a high-risk industry comes with its own set of challenges, especially when it comes to payment processing. We specialize in providing custom payment solutions to high-risk merchants, ensuring you can accept credit cards, ACH payments, and eChecks without disruptions.

Whether you’re in an industry facing fluctuating revenues, higher chargeback ratios, or regulatory complexities, our high-risk merchant accounts are designed to offer you flexibility, security, and peace of mind.

What Is a High-Risk Merchant?

A high-risk merchant is typically a business that operates in industries with elevated levels of financial risk or regulatory scrutiny. Factors that contribute to this classification include:

  1. High Chargeback Ratios: If your business experiences a higher-than-average chargeback rate (above 1%), it can be deemed high-risk.
  2. Industry Type: Some industries are inherently viewed as high-risk, such as CBD, gaming, travel, and subscription services.
  3. Large Transaction Volumes: Businesses dealing with high-value transactions or inconsistent revenue streams may also fall under this category.
  4. Regulated Markets: Operating in industries with stringent regulatory oversight (like adult content or nutraceuticals) adds to the risk for payment processors.

Our services ensure that despite these challenges, your business can access secure, reliable, and cost-effective payment processing solutions.

Why High Risk Merchant Account?

  1. Industry Expertise: We have deep experience across high-risk sectors, helping businesses navigate the complexities of payment processing with tailored solutions.
  2. High Approval Rates: Thanks to our extensive network of banking partners, we have a high approval rate for high-risk businesses.
  3. Chargeback Management: Our advanced fraud detection and chargeback management tools help reduce disputes and maintain your merchant account in good standing.
  4. Flexible Terms: We offer competitive pricing, flexible contracts, and a customized approach to meet your specific needs.

How We Serve High-Risk Businesses

We understand the obstacles high-risk businesses face in acquiring reliable payment solutions. Our process is simple and designed to get you up and running as quickly as possible. Here’s how we work with you:

  1. Consultation & Risk Assessment: We begin by understanding your business’s unique needs and evaluating its risk level. This allows us to recommend the best payment processing options.
  2. Application & Approval: High-risk businesses often struggle with lengthy approval processes, but our extensive network of acquiring banks speeds up approvals, even for startups.
  3. Account Setup: Once approved, we quickly set up your merchant account, integrating payment gateways and offering multi-currency processing if needed.
  4. Ongoing Support: Our team is available 24/7 to assist with any challenges, ensuring that your payment processing runs smoothly.

Key Benefits of Our High-Risk Merchant Accounts

  1. Increased Payment Options
    Our services allow you to accept a wide range of payment methods, including credit/debit cards, ACH transfers, eChecks, and more. This helps you cater to customers globally, ensuring you don’t miss out on any sales.
  2. Fraud Prevention Tools
    High-risk industries often experience higher rates of fraud. We implement cutting-edge encryption and fraud detection systems that protect your business and your customers’ sensitive data.
  3. Chargeback Protection
    With a higher potential for disputes, managing chargebacks is crucial for high-risk merchants. Our chargeback management tools help you resolve disputes efficiently and reduce the chances of having your merchant account terminated.
  4. Scalable Solutions
    As your business grows, your payment processing needs will evolve. We offer scalable solutions that allow you to adjust your processing limits and add additional payment gateways as required.
  5. Multi-Currency Processing
    Do you operate globally? We provide multi-currency processing to ensure your international customers can transact seamlessly, helping your business expand its reach across borders.

High-Risk Industries We Serve

We cater to a wide range of high-risk industries, including:

  • Travel & Hospitality: High ticket values and cancellation rates make these businesses high-risk. We ensure smooth payment processing regardless.
  • CBD & Supplements: Regulatory hurdles in these industries can make it difficult to find a processor, but we have solutions specifically tailored for them.
  • Adult Entertainment: Whether online or brick-and-mortar, we provide discreet, secure merchant services for this regulated industry.
  • Gambling & Gaming: We offer tailored solutions for online gambling, gaming platforms, and other high-risk entertainment sectors.
  • Subscription Services: These businesses often face elevated chargeback risks, but our merchant services help maintain sustainable payment flows.

If your business falls within one of these categories, we can provide the necessary support to ensure your payment processing remains uninterrupted.

Why Do Banks Label Certain Businesses as High-Risk?

Financial institutions categorize businesses as high-risk for several reasons:

  • Chargebacks: Frequent disputes and chargebacks raise red flags for banks, making them hesitant to provide merchant accounts.
  • Regulatory Concerns: Businesses in heavily regulated industries, such as CBD or online gaming, are subject to additional scrutiny, leading banks to view them as risky investments.
  • Payment Methods: Businesses relying on card-not-present (CNP) transactions, such as online sales or phone orders, are seen as higher risk due to the increased potential for fraud.

However, these challenges don’t mean your business should suffer from subpar payment solutions. We bridge the gap by offering high-risk merchants the same level of service and security as their low-risk counterparts.

What makes us a better choice for your Business?

While other payment processors provide high-risk merchant services, we differentiate ourselves with transparency, high approval rates, and tailored solutions designed for your business. Our approach includes competitive pricing, personalized account management, and robust security features.

Other providers may offer strong chargeback protection or fraud prevention, but we go further by offering multi-currency support, fast approvals, and a dedicated 24/7 support team that ensures you’re never left without help. We aim to exceed expectations with flexible, customer-centered service.

Shake hands with High Risk Merchant Account

Don’t let payment processing limitations hold back your high-risk business. We make it simple to get approved for a merchant account that suits your business’s specific needs. We offer competitive rates, tailored services, and robust fraud protection to keep your operations running smoothly.

Ready to elevate your payment processing? Contact us today and find out how we can help your high-risk business thrive.

FAQ

“High Risk” is an industry term, and it’s important to note that there are many fantastic businesses which would be given this designation by a bank or credit card processor. While there are unique factors that go into how the industry views any business, in general there are three big factors for the “high risk” designation:

  1. The business may have greater chargeback risks due to the nature of processing or industry. Typically any business with a chargeback ratio of over 1% enters a “high risk” category.
  2. The business may operate in unique, new, or legally regulated industries which fewer processing banks want to underwrite. Uncertainty creates risk for banks, and so if the industry is very new, or has developing regulation, this designation will typically apply.
  3. The business may accept a high percentage of transactions over the phone or via mail which is considered higher risk than in person transactions. If the card and cardholder are not present with the merchant at the time of the transaction, the risk of fraud is greater. As such, this can cause businesses primarily accepting payments this way to be considered in a higher risk category.

Yes, your startup or new business can be approved by SoarPay for a merchant account. We love startups! While newer businesses without processing history sometimes encounter insurmountable hurdles when it comes to approval, Soar Payments has helped many brand new businesses get their start in payment processing.

Merchant accounts are essentially lines of credit extended to businesses, which puts processing banks at risk when transactions go poorly (leading to chargebacks or excessive complaints), the underlying business closes, or other problems such as fraud arise. Banks are liable both from a reputational and financial perspective in many cases.

Because of this, KYC (Know Your Customer) regulations, and beyond, banks must properly evaluate merchants before approving them.

Fortunately, Soar Payments is here to help you navigate the process and make everything as smooth as possible.

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The category of high risk (as it pertains to credit card processing) includes businesses that meet one or more of the following characteristics:

  • irregular or very high-ticket sales;
  • in an industry with a history of high chargebacks;
  • in an industry that large banks are “politically” unwilling to support; or
  • in a highly regulated industry.

The category of mid risk (as it pertains to credit card processing) includes some (but not all) of these factors, but to a lesser degree. Your instant price quote from Soar Payments will reflect the classification of your unique business; based on your industry and application, your business may be classified as low risk, mid risk, or high risk.