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High Risk Merchant Account? What Is This?

A high-risk merchant account speaks of a business that is riskier in the eyes of payment processors because of higher fraud or chargeback rates. Below, you can read details concerning high-risk merchant accounts and know where you can find a secure and affordable account for your risky business. 

What Kind of Accounts Are the High-Risk Accounts?

Payment processors classify merchant accounts as high risk because they’re associated with a higher risk for chargebacks, fraud, or excessive returns. High-risk merchant accounts:

  • Charge higher processing fees.
  • Accept multiple currencies.
  • On average, their credit card transactions are over $500. As compared, a low-risk merchant account is typically associated with a transaction volume of less than $20,000 per month.
  • Their average monthly sales volume exceeds $20,000. 
  • The business owner doesn’t have a good credit history.
  • Recurring or subscription payments are typical of them.

Traditional banks and financial institutions aren’t willing to work with risky businesses as they want to avoid problems that might arise because of these businesses. Specifically, high-risk businesses include:

  • Cryptocurrency, Forex, and currency trading
  • Casinos or online gaming
  • Gun dealers
  • Prepaid debit cards
  • Calling cards and VoIP providers
  • Pharmaceuticals and online drug providers
  • Nutraceuticals
  • Tobacco, e-cigarettes, and cannabis products
  • Telemarketing sales
  • Adult entertainment and dating services
  • MLM and network marketing
  • Airlines, accommodations, and ticketing businesses

And more.

When choosing a high-risk processor, make sure it accepts your type of business and specializes in the high-risk industry. 

High-Risk Merchant Account from a Reputable Provider

The good news is that there are reputable high-risk merchant account providers like that are committed to offering the most secure, advanced, and lowest-cost payment processing solutions to hard-to-approve merchants. 

EMB is rated A+ by the BBB and is also a reputable business funding provider in the high-risk field. EMB speaks to every single business owner to gain a better image of their business wants and needs so as to provide more suitable payment processing services. 

With, you can be sure to open a merchant account without any hassle. EMB offers a quick application process. 

What You Should Know About High-Risk Merchant Accounts

Businesses characterized as “high risk” need a high-risk merchant account to process debit and credit card transactions. Find a respectful high-risk processor to open a merchant account for your risky business.