Where To Find the Best High Risk Merchant Accounts

Jan 08, 2019

As a high risk merchant, it’ll be pretty challenging for you to find a reputable merchant account provider to start accepting online payments. This article is here to help you get a better understanding of high risk payment processing and know where you can get the best high risk merchant accounts to grow your business.

High Risk Business & High Risk Merchant Account

High risk businesses for any reason presents an increased risk of fraud to the credit card processing company. High risk merchants have increased vulnerability towards chargebacks, fund holds, higher rates, or placement on the TMF/MATCH list.

Being labeled as high risk makes it harder for merchants to find a processor that’s ready to provide a merchant account for payment processing. So, this leads to headaches down the road. Examples of such businesses include those in the eCigarette and vape shops, online gambling, dating and escort services, telemarketing companies, online membership clubs, and others.

Thus, it’s crucial for high risk business owners to be able to get access to trustworthy, up-to-date credit card terminals, POS (point-of-sale) systems and mobile payments solutions, and find a reliable payment gateway and virtual terminal to opt for. Importantly, high risk merchants should take the time to find the best possible pricing plans and contract terms for payment processing.

By the way, you may come across the terms “offshore” and “high risk” merchant accounts used interchangeably. In fact, these are different things. A high risk business may use an offshore merchant account, however, not all high risk merchant accounts are offshore.

Here’re some important factors determine whether your business needs a high risk merchant account or not:

  • Location of your business
  • Size of your business
  • Credit history
  • Credit card processing history
  • High chargeback ratios
  • Industry type
  • Whether or not you’re running your business exclusively online

Overall, you can’t find one single definition of high risk businesses in credit card processing. Visa, MasterCard, American Express, and Discover have their own lists. High risk business lists vary from processor to processors, with each of them having their own requirements concerning high risk businesses.

High Risk Merchant Accounts from a High Risk Specialist

Working with a respectable credit card processor like eMerchantBroker.com is mandatory for all merchants, especially for high risk ones. EMB is regarded as the nation’s top high risk processor and is considered an A company by Card Payment Options.

What’s more, eMerchantBroker.com is a BBB Accredited Business with an A+ rating and provides competitive merchant solutions for businesses that’re traditionally tabbed as high risk. EMB is an ethical, honest company that has years of experience in working with hard-to-approve merchants and goes above and beyond to take care of your long-term game.

High risk specialist EMB is dedicated to getting merchants feel confident working with it. If for some reason other processors don’t approve you for a merchant account, eMerchantBroker.com will. EMB stands out from the bunch as one of the most honest, reputable, and straightforward payment processor in the industry.

With eMerchantBroker.com, you can be sure to enjoy transparent deals that have nothing to do with confusing and contradictory information and hidden fees. Strikingly, EMB offers a multitude of features, and a rich set of benefits for credit card transactions.

eMerchantBroker.com is focused on delivering speedy and efficient payment transactions both for national and international businesses. EMB offers:

  • ACH processing
  • Business financing
  • High volume payment solutions
  • Instant check processing solutions
  • Mail order/ telephone order (MOTO) processing
  • Merchant cash advances (MCAs)
  • Online payment gateways, including its own
  • Point-of-sale (POS) solutions
  • Unique programs for chargeback dispute resolution and prevention

What merchants appreciate so much is that, instead of contacting a customer help line, you can have a point of contact with EMB who knows your own specific business needs and can handle your problems successfully.

Since high risk merchant accounts are connected with industries or businesses that’re notorious for chargebacks and fraud, eMerchantBroker.com offers an exceptional “chargeback shield,” and optional service to help you fight chargebacks and fraud without challenges. EMB’s application process is simple and hassle free.

As you see, though it can be challenging, it’s not impossible to find a reliable high risk processor to get approved for a high risk merchant account for your business. All you need is to take the time to shop around and find the right option that best suits your business needs. After all, choosing the best payment gateway and high risk processor can really be a life-changing choice to make.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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