Trusted High Risk Payment Processor
With over 20 years’ of experience, we are dedicated to providing the best rates & best service in the industry. We can offer you a merchant account within 24 hours even if your business is considered high risk.
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What Is a High Risk Payment Processor?
Businesses all around the world need payment processors to ensure that all their customer’s payments go through. Cash is the one exception to this statement. Whether it’s through a credit or debit card, check, mobile payment, or other, having a merchant account with a payment processor is necessary.
Payment processors divide businesses into two categories: high-risk and low-risk. High risk merchants are less likely to get approved for a merchant account with many processors. Low-risk businesses often don’t have any problems getting approved for a payment processor.
That’s why working with a payment processor that understands the needs of high risk merchants is necessary. You can’t run a successful business without a trusted payment processor.
When you’re considered a high risk merchant, you need a trusted high risk payment processor to help handle your transactions. Not everyone approves high risk merchants, but that’s where we’re different! If you need a payment processor, we accept high risk merchants and offer cost-effective solutions.
High Risk Merchants Are Welcome!
Best Merchant Services is prepared to help all merchants with their payment processing, especially high risk merchants! We don’t want any business to feel left out and think like they’ll never get to open a merchant account for secure payment processing. Many other payment processors don’t accept what they deem as high risk merchants for several reasons. Most payment processors don’t want to deal with businesses that are at a greater financial risk because it’s risky for them too. While it might not seem fair to you as a business owner, they’re doing their best to protect themselves. We believe every business deserves a cost-effective and safe solution to payment processing, no matter what industry you’re in.
At Best Merchant Services, we offer merchant accounts to applicants, usually within 24 hours if you qualify. And yes, high risk merchants can be eligible, and most do when applying with us. One of the main reasons that companies are deemed high risk by other payment processors is that they’re susceptible to chargebacks. Chargebacks are fraudulent charges or even charges that customers will dispute with their bank or creditor. Even if your business is at a higher risk of chargebacks, we want to help you succeed. Another common reason that you’ll see other payment processors calling your business a high risk business is because of a significant transaction rate. Many companies that have an average of $500 or more per transaction can be deemed high risk. This excludes grocery stores and gas stations. Some might consider your business high risk if you have an online or eCommerce business and accept international transactions. Since many international transactions are considered high risk for fraud, many payment processors won’t touch companies that allow this.
Some of the Industries We Work With
Best Merchant Services is there for you, no matter what type of business you have. We don’t only work with low-risk companies. We pride ourselves in helping businesses of all kinds with secure and fast payment processing.
Even if you’re not in any of the following industries, we can help with fast and affordable payment processing. Some of the industries we work with include:
- Adult
- Bail Bonds
- CBD Companies
- Coaching & Seminars
- Collection Agencies
- Consultants
- Credit Repair
- Dating
- Debt Consolidation
- Electronics
- Guns and Firearms
- High Volume
- Lenders
- Multi-Level Marketing
- Nutraceuticals
- Property Management
- SaaS Companies
- SEO & SEM Services
- Subscription & Continuity
- Tech Support
- Tobacco & Paraphernalia
- Travel-Related Services
- Vape & E-Cigarettes
- Web Design Services
We work with companies within these industries every day. Whether it’s to help with one payment processing solution or multiple, you can count on Best Merchant Services to be there for you.
The industries we work with aren’t limited to the list above. No matter what industry your business is in if you’re deemed a high risk business, get in touch with us! We’ll assess the situation and determine if partnering with us for your payment processing needs is a beneficial partnership.
Get a Reliable & Cost-Effective High Risk Payment Processor
Best Merchant Services offers some of the most reliable and cost-effective services for high risk merchants. We have more than 20 years of industry experience, which makes us one of the top choices.
Throughout our 20+ years in the industry, we’ve built a strong reputation for being reliable and building relationships with all our clients. We take pride in building these relationships so we can understand what you need and never provide you with something you don’t. Our expert solutions will always have some of the lowest rates, so you can worry less about spending money on payment processing and more on aspects of your business that matter more. When you open a merchant account with us, you know that you can trust Best Merchant Services.
We understand that all of our clients are different. That’s why when you apply for a merchant account with us, we’ll customize a solution that works for you and your business. We also strive to make the application process as painless as possible. All we require is two consecutive months of processing statements and our applications.
We’ll get back to you within 24 hours at a better rate than your current payment processor or give you $500 for your time. More often than not, we’ll be able to offer you a better deal than other payment processors because a lot won’t work with high risk businesses. If you’re interested in partnering with us, we’ll work with you to come up with a plan that allows you to conduct business but isn’t overly risky for us. While we can’t say precisely how much it will cost your high risk business to work with us as your payment processor, we can confidently say we offer some of the best rates around. Each rate is different per business, and we determine our rates on several factors. We’ll evaluate the type of business you run, the types of transactions you take if you allow for national and international transactions, and more when determining the best rate we can offer your business. We never want to overcharge but will ensure that our pricing is fair and won’t break the bank as you grow your business.
Types of High Risk Merchant Accounts
No one wants to hear a credit card payment processor or bank tell them that their business is high risk. Unfortunately, it happens more often than you might think. We know that it can be incredibly discouraging to hear those words. The good news is that it’s not the end of the world. You just need to know which payment processors are willing and capable of opening a merchant account for you. It could be for various things if you’ve been labeled as a high risk merchant.
It could be that the industry is risky, you have offshore accounts, or your marketing is getting flagged as risky. We mentioned some of the industries we work with earlier, but there’s a lot to look over, and it doesn’t even skim the surface of the businesses we help. Here are a few of the types of high risk merchant accounts we take pride in helping:
- CBD Stores
- Adult industry online and brick-n-mortar stores
- Gun stores and shooting ranges
- Online retail stores
- Subscription box services
Regardless of why your business is deemed high risk, Best Merchant Services is here to help. We offer merchant accounts for brick-and-mortar businesses, online companies, and other businesses. We don’t discriminate, and while we require financial statements and information about your business, we’re far more lenient than other payment processors.
Once we approve your application, we’ll take a deep dive into what would work best for your business. We customize all our solutions to each client because we understand that there’s no one size fits all solution. We help high risk merchant accounts with the following payments:
Retail Payments
These are traditional payments you would make when visiting any store. Customers can pay with a debit or credit card or eCheck. If you just want a simple way to allow your customers to pay, this is a great solution we offer.
Virtual Terminal Payments
We can help process your customer's payments via telephone, fax, email, mail order, or in person via a credit or debit card.
Mobile Payments
If your customers are paying with their mobile phones thanks to services like Apple Pay, we can help process these payments and keep you and the customer safe. This includes paying with SquareUp and other similar services.
eCommerce Payments
These payments are when you can accept payment through an eCommerce platform. For example, we'll help with payment processing through Shopify and other eCommerce platforms.
FAQs
There’s a lot to learn about high risk payment processing as a business owner. Understanding why you’re considered a high risk business can help. Best Merchant Services is here to answer all your questions so you can feel confident in the payment processor you choose.
Check out some frequently asked questions that other business owners are wondering about being a high risk merchant.
Open Your High Risk Merchant Account Today!
If other payment processors have deemed your business high risk, all hope isn’t lost. There are payment processors out there that will work with your high risk business and ensure that you can efficiently and securely process payments from your customers.
At Best Merchant Services, we’re eager to help you with your high risk payment processing services. No matter what type of business you run, we believe everyone deserves a payment processor they can trust. Applying is easy, and we’ll get back to you within 24 hours with our answer.
If you’re ready to get started, you can open your high risk merchant account today by visiting the Best Merchant Services website and getting your free quote! Once we have all the necessary information, we’ll get back to you within 24 hours and come up with solutions to all your payment processing needs.