We have been discussing about various properties of the high-risk merchant account business for many months and have almost sure reached on most, if not all, of the most deciding issues. Here are some more guides on high risk merchant accounts.
High-risk merchant accounts are a subset of financial services that offers businesses to accept card payments from clients. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face reduced options in processors, plus higher fees and stricter contracts. Being named as high-risk sounds bad. But in some scenarios, it can be your best option.
It’s practically impossible for online shopping merchants to do their business without having enabled as payment type the credit or debit cards. Before you can accept “plastic,” you have to use a payment service provider who acts as a liaison between you, banks, and credit card networks.
Lots of financial service providers do business exclusively with low-risk businesses, who they see as a low risk investment. That means businesses considered high-risk will have a very poorr selection of potential processors to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.
Here are some high risk credit card processors : Focusing primarily on high-risk e-commerce businesses, eMerchantBroker claims they approve 99% of all account applications. The company has a positive reputation for transparent customer service and reliable support.
Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving high risk business types. This includes CBD and Kratom businesses. The company’s products and services include point-of-sale solutions, mobile phone swipers, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances. PaymentCloud provides a dedicated account rep to all new merchants for the life of the account. The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchant’s business type and processing history.
We worked with all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a huge experience in the field, fast customer support and low fees.
Do you have a business related to Subscription based billing models ? HRMA-LLC can help you. Read more info at Best high risk merchant account.