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A PayPal Alternative For High-Risk Businesses

PayPal is without a doubt the most popular, most ubiquitous payment provider worldwide. Its impact continues to grow so much that a survey conducted by Statista indicated that in the third quarter of 2018, Paypal had amassed 254 million accounts from around the world, a far cry from its humble beginnings of only 84.3 million in the first quarter of 2010.

It is the most favored provider for low-risk businesses due to: no setup fees, secured transaction reports, lower online fees, easy integration with most shopping carts, and reasonable prices for merchants.

However, as mentioned before, these benefits are only available to low-risk merchants. Although many financial institutions and payment processors steer clear of high risk merchants, PayPal does not expressly reject high risk merchants. But, high-risk merchants need to proceed with caution as entering with an agreement with Paypal will cost you.

One of the most common complaints high-risk merchants have against PayPal is that they hold funds for too long, taking even longer to have the funds deposited into their checking account. If you have to request funds from your PayPal account, the transfer can take up to five days. This will not work as a business is entirely dependent on cash flow to operate properly. Lastly, if PayPal has the slightest suspicion that you might have some fraudulent sales due to chargebacks, they will freeze your account or outright shut it down.

None of this will fare well for our high-risk merchants trying hard to fight for its existence. So what is the high-risk merchant to do? Luckily there are alternatives to the behemoth that is Paypal. One PayPal alternative for high-risk businesses that comes to mind is or (EMB).

Specializing in high-risk merchant accounts, EMB has no application fees or setup fees. You don’t need to have your own Visa and Mastercard registration. And they have 24/7 support for any questions you may have.

Some of the high-risk industries that EMB proudly serves include: tech support, gaming, nutraceuticals, adult entertainment, debt consolidation, airlines, gambling, and many others.

High-risk merchant account providers are notorious for burdening their high-risk merchant clientele with outrageously high rates and fees. They also trap them into contracts that are just as expensive to break free from. Not so with EMB. They are known for being more honest and transparent when working with high-risk merchants.

Merchant account providers also distance themselves from exposure to fraud by prohibiting certain industries from utilizing its services. However, EMB differentiates itself from other high-risk specialists by having a shorter list of prohibited industries.

EMB also offers its very own payment gateway called the EMB Payment Gateway. It can accept multiple types of currency. To facilitate access and usage, the gateway comes equipped with a web portal interface as well as reports, which can be personalized for specific needs.

Unless you are running a fraudulent operation, EMB will more than likely approve your account. In fact, they boast a 99% approval rate for all their applicants.

EMB provides customer support via telephone, email, and live chat and they have an excellent, reputable sales team.

In Conclusion

Although PayPal is one of the most common options that merchants use to process credit card payments, that doesn’t mean that high-risk merchants will fare well with this option. You want to go with a provider that will treat you, the high-risk merchant, as an equal and enjoy just as many benefits as your low-risk merchant counterparts.