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High-risk merchant accounts are designed to serve businesses that cannot obtain a standard, low-risk account for credit card processing. Although expensive, high-risk accounts allow companies that would otherwise have to operate on a cash-only basis to accept credit and debit cards, ACH transfers, and other payment methods.
Here are some of the best high-risk merchant account service providers willing to cater to your needs. No. Free terminal, Zero Fee Processing Options, Dedicated Account Manager. Zero cost...
High-risk merchant account providers are supported by banks ready to bear the risk of transactions likely to suffer from fraud. By partnering with these banks, high-risk merchant service providers can work with businesses or individuals with less-than-stellar credit.
A high-risk merchant account is required if a business with a greater risk of fraud or chargebacks — or with certain other characteristics — wants to accept credit card payments.
Find the best high-risk merchant account providers to facilitate your credit card transactions.
What are high-risk merchant accounts? They are payment processing accounts for businesses that are considered risky. There are many factors that may make a business more risky for processing, but excessive chargebacks or high chargeback potential is a big reason.
Top high-risk merchant account providers give businesses a place to store funds and help facilitate electronic payments in store, online or both.
What is a High-Risk Merchant Account? A high-risk merchant account is a payment processing account designated for businesses that are deemed high risk of chargebacks, business type, or other financial concerns according to the standards set by banks and merchant account providers.
High-risk merchant accounts are speciality services that certain payment processors offer to businesses that are more susceptible to chargebacks or fraudulent activity. Compared to standard merchant accounts, high-risk merchant accounts feature higher setup costs, steeper processing fees, and stricter contractual language.
Most high-risk merchant account services charge higher-than-average payment processing fees and have stricter application processes. However, there are providers that offer cost-effective plans and features tailored to each business’s needs. Based on our evaluation, the best high-risk merchant account providers for 2024 are: