High Risk Merchant Account At HighRiskPay.Com

Imagine you have established a powerful business in which you are offering unique products or services to customers, and they are loving it. But when it comes to getting paid in return for your services, you have to face roadblocks in the form of higher chargeback rates, chances of fraud, and late or delayed payments. These types of businesses are often categorized as “High Risk” by payment processors and experience many difficulties in finding reliable and affordable payment processing solutions.

But fear not, entrepreneurs! Enter a High Risk Merchant Account At HighRiskPay.Com, your key to achieving your financial goals. Our comprehensive guide will dive deep into high risk merchant accounts, tell you why they are a perfect fit for your business, and how you can determine if your business falls into a high-risk category. We will also discuss the services merchant account offers, but first, we will give you an overview of HighRiskPay.Com.

Overview of HighRiskPay.Com

HighRiskPay.Com is one of the famous and prominent credit card companies whose main focus is to help businesses that are considered “Risky” by traditional payment companies. They provide High-Risk Merchant Accounts to these businesses and allow them to accept credit card payments without facing the challenges of high charge rates and fear of fraud.

They understand the challenges faced by these businesses and offer low rates to keep their cost manageable.  Moreover, their 24/7 live customer service is always there to address your questions or concerns regarding their services. Although high-risk pay covers a diverse range of businesses, we have provided a list of some businesses they mainly focus on. Check the table given below.

Why Choose High Risk Pay as Your Merchant Account?

Now, we will tell you why you must choose merchant accounts and what benefits they offer that will stable your business’s financial condition.

High Approval Rates

Where regular banks do not approve merchant accounts and charge high for them, HighRiskPay.Com emerges as a leading provider. They are specially designed for high-risk businesses, and they have a strong record of giving successful approvals with low charge rates. They offer merchant accounts to all types of high-risk businesses.

99% Approval

As I mentioned above, high-risk pay has a strong record of approval as there is a 99% chance that your account will be approved within 24-48 hours. This fast approval will help you to start accepting payment as soon as possible and move further in your business without wasting time. Their 99% approval rate is higher than any other merchant account provider.

Fast Account Setup

We all know time is an important aspect to consider in any type of business, and high-risk pay understands that. Once your account is approved, there next step is to speed up the account setup process. For this, it allows you to start processing transactions right away to maximize your earnings.

What is a High Risk Merchant Account?

High Risk Merchant Account At HighRiskPay.Com are unique accounts designed specifically for high-risk businesses. These accounts are usually expensive and have extra restrictions due to fraud and other financial issues. Businesses need merchant accounts when regular banks decline to process credit card processing.

Although these accounts are expensive, if you choose the right provider, like high-risk pay, you will get affordable rates and fast services. By providing reliable and quick services, merchant accounts have become a priority for businesses in the U.S.

Services Offered By High-Risk Merchant Account

In the following section, we will discuss the services that high-risk merchant account offers to help businesses. Let’s start with.

Gateways

Gateways are like paths called digital portals that connect your online store or checkout system to the payment processing network. Their main purpose is to keep the customer’s details safe and provide a smooth transaction experience. Merchant accounts give you access to these payment gateways so you can receive payments safely. Some of the main gateways of merchant account are:

1. Stripe
2. PayPal
3. Square
4. Authorize.Net
5. Amazon Pay

Terminals

When you are running a business, you have to give your all to satisfy your customers, the same in the case of face-to-face selling products. This is the point where you need a Merchant account, providing you with credit card readers, mobile payment methods, and an all-in-one system. The main objective of using these devices is they are safe and fast and keep your customer data secure.

Accept Mobile Credit Card Payments

Mobile phones have become an essential part of our lives, and high-risk risk pay are taking advantage of this technology. No matter where you are, it allows you to accept payments through mobile, giving you the freedom to get rid of the hassle of carrying payment terminals. Mobile transactions make things easy for both you and the customer.

E-Commerce

If you are doing an online business, you need a fast and reliable payment method, and high-risk pay provides that. It gives you tools to accept payments through the website and other online platforms to make your transactions secure and smooth. The solution they provide includes checkout options, automatic billing, and fraud protection.

Chargebacks

Chargebacks happen when customers do not approve the request to charge their cards, and it’s a common issue that high-risk businesses face. High-risk pay helps offer tools to prevent chargebacks so you can keep more of your money. Some of the main tools it provides are:

1. Address Verification System
2. CVV/CVC Checks
3. Order Verification
4. Customer Identification Programs

Fraud Prevention

High-risk businesses need advanced tools to catch fraud activity. You can get real-time checks and tracking devices used by customers. These things will help you to spot suspicious activity like fake addresses or unusual buying patterns. By doing this, you can protect both money and customer data.

Surcharging

In some cases, high-risk businesses charge some extra money to cover the fee for processing payments. When this happens, customers usually get confused and don’t know the reason for the deduction. This is where high-risk pay helps you to understand the rules and makes you able to do it correctly.

Processing

When doing a transaction, the most important thing is to make sure payments happen quickly and smoothly, and merchant accounts are perfectly designed to do that. They make sure your customers feel comfortable and their data remains safe.

Features of HighRiskPay.com

Here are some of the features that make high-risk pay a reliable and secure option for businesses.

24/7 Customer Support

We all can agree that running a business is unpredictable and you have to face many challenges doing it.  Many questions and concerns can arise, and if you don’t find the solution quickly, you may suffer a big loss, and high-risk pay knows that. Therefore, they offer dedicated customer service that is available 24/7 hours, giving you quick answers to every question you ask.

Competitive Pricing

High-risk businesses have to pay a higher fee for processing fees as compared to other businesses. However, high-risk pay tries to keep their budget-friendly and offer extra benefits as compared to others. The best thing about high-risk pay is that they give you all the information about your money, like why they are charging for it.

Integration with Popular Platforms

If you want to run a successful business you will need tools and resources as much as you can so you can manage operations efficiently. High-risk pay has all the popular tools for it, like shopping carts, online stores, and accounting software, which makes everything work together seamlessly. This will also save you a lot of time and effort.

High Risk Payment Processing

In this section, we will explore different Payment Processors, which include:

Traditional Credit Card Processors

Traditional credit card processors are those that major banks offer, and they avoid businesses with high risk. It isn’t easy to get approval from these processors, and if somehow they approve, they will charge you extra money for it. Traditional processors have strict underwriting guidelines and a lower rate of approval as compared to high-risk pay and other processors.

Other Kinds of Processors

If high-risk businesses cannot get approval from traditional processors, they can go for other options like:

Offshore Merchant Processing

Some businesses use payment processors in other countries, which is called offshore merchant processing. While this is helpful and can expand your business to an international level, it is advised to do it carefully.

Alternative Payment Processors

Some other payment processors are more willing to work with high-risk businesses. These companies focus on specific industries or offer unique solutions.

How To Determine Whether My Business Is High-Risk?

If you want to grow and take your business to new heights, then understanding whether your business falls into the high-risk category or not is important. Usually, there are two factors you can look for to determine this. First is your industry or business verticals, and second is the financial position of the past and future.

Besides that, they also consider how well business is managed at the federal and state levels. You can also compare your market segments to your competitive companies, and this will tell you whether your business is low-risk or high-risk. Below are some other factors that payment processors look for to determine your business category.

1. Fraud & Chargeback Rates: Banks can look for your chargebacks and if a lot of customers wanted their money back and didn’t authorize a payment, then your business will be considered high risk. 
2. Types Of Products And Services: If your business is based on adult products, online casino, and other harmful health products, you will be seen as high risk.
3. Reputational Risk: They look for your previous record. If customers have a lot of complaints about your products and services, they might hesitate to do business with you.
4. Recurring Payments: If you are charging customers on a regular basis and not monthly, this may be seen as fraudulent activity.
5. Monthly Sales Volumes or Transaction Value: Banks also hesitate to do business with you if you are selling extremely expensive products.
6. Credit Score: The last one is if you have a poor credit score, there are fewer chances of your merchant account approval, or you will pay extra charges for it.

Frequently Asked Questions – FAQs