instant approval high risk merchant account

High Risk Merchant Account Instant Approval Rundown

High risk industries face unique challenges when it comes to payment processing, including higher fees, greater scrutiny, and more frequent account freezes and shutdowns. However, with the right instant approval high risk merchant account provider, businesses in these industries can access the payment processing solutions they need to expand and grow.

A high risk merchant account is a specialized bank account that allows businesses in high risk industries to accept payments for products and services. Some examples of high risk industries may include e commerce, adult entertainment, online gaming, travel, and more. High risk Merchant accounts instant approval offer specialized high risk credit card processing solutions that cater to the unique needs of high risk industries, including high risk payment processing, high risk payment gateways, high risk credit card processing, online payments, and ACH payments.

A high risk merchant account is issued to merchants that are more vulnerable to fraud and chargebacks. The decision to label a business as “high risk” is based on many variables, including the company type, type of products sold, financial history, and geography. The rates issued to these merchants are higher in comparison to other businesses such as grocery stores or restaurants.

At Merchantech, We strive to inform our visitors about the essential aspects of high risk credit card processing for merchants, which can differ significantly from the factors that govern low risk payments.

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A high risk merchant account is issued to merchants that are more vulnerable to fraud and chargebacks. The decision to label a business as “high risk” is based on many variables, including the company type, type of products sold, financial history, and geography. The rates issued to these merchants are higher in comparison to other businesses such as grocery stores or restaurants.

At Merchantech, We strive to inform our visitors about the essential aspects of credit card processing for high risk merchants, which can differ significantly from the factors that govern low risk payments.

Merchant Account for High Risk Businesses

Merchant Account for High Risk Businesses

Certain businesses are considered high risk because of the products or services they provide. As a result, they encounter higher chargebacks compared to traditional businesses. Some examples of businesses that fall under the label of high risk are:

  • Cannabis related products
  • Health and beauty products
  • Telemedicine
  • Travel related services
  • Gambling
  • Antiques and collectables
  • Credit Repair
  • Tech support
  • Dating Services
  • Adult
  • Pawn shops
  • Furniture sales
  • Firearms and ammunition
  • Nutraceutical

Which Business Sectors Are High Risk?

Certain businesses are considered high risk because of the products or services they provide. As a result, they encounter higher chargebacks compared to traditional businesses. Some examples of businesses that fall under the label of high risk are:

  • Cannabis related products
  • Health and beauty products
  • Telemedicine
  • Travel related services
  • Gambling
  • Antiques and collectables
  • Credit Repair
  • Tech support
  • Dating Services
  • Adult
  • Pawn shops
  • Furniture sales
  • Firearms and ammunition
  • Nutraceutical
Which Business Sectors Are High-Risk?

High Risk V/S Low Risk Merchant Account

High Risk
  • Higher risk due to type of business
  • Chargeback greater than 1%
  • Keyed in Transactions
  • Good Credit Preferred
  • Card Not Present
  • Prone to higher disputes
Low Risk
  • Established Company
  • Chargeback less than 1%
  • Established business
  • Face to Face Transactions
  • Card Physically Present

What are High Risk Merchant Account Fees?

The rates for high risk merchant accounts depends on the type of business and risk factors. The rate includes the authorization fee, settlement and capture, deposits, and any additional fees associated with payment processing.

The Pitfalls of Instant Approval Merchant Accounts

Instant approval merchant accounts may seem like a quick and easy solution for businesses in high risk industries. However, these accounts often come with high fees, limited payment processing solutions, and little to no customer support. In addition, many instant approval merchant account providers have strict account approval criteria that may not be suitable for all businesses. It’s important for businesses to work with a high risk merchant account provider, such as Merchantech, that offer customized solutions and expert guidance to help them succeed.

Factors

Factors That Make a Good High Risk Merchant Account Provider

High chargeback protection Global coverage Expansion of business Reduction of processing delays Lower chance of account termination Absent volume caps A higher level of security and fraud protection Merchant underwriting procedure Merchant account reserve

Factors That Make a Good High Risk Merchant Account Provider

High chargeback protection Global coverage Expansion of business Reduction of processing delays Lower chance of account termination Absent volume caps A higher level of security and fraud protection Merchant underwriting procedure Merchant account reserve
Factors

Merchantech Promise

Fortunately, since the beginning of our company, Merchantech has consistently provided Best High Risk Payment Processor to companies across numerous industries. We pride ourselves with integrity, honesty, dedication, and service. Let us help you start accepting credit cards for your high risk business. We think your business should be able to accept credit cards as payment, regardless of your sector or circumstance, as easily as you accept cash. We have also explained the tips to get high risk merchant services, follow the steps and apply for one.

High Risk Payment Gateways

Merchantech integrates with multiple payment gateways. Our payment gateway makes high risk credit card processing safer and more secure by including fraud prevention technologies.

Authorize.Net

USAePay uses Transport Layer Security for all of its connections and processing (TLS) to guarantee your safety.

USAePay

Authorize.Net is compatible with most online ecommerce sites such as Shopify, BigCommerce and more.

Gateway Features

SECURE VAULT
SECURE VAULT

A vital cornerstone of any payment gateway is a secure of tokenized cardholder information. This accessibility to prior transactions, especially vital for recurring payment.

DETAILED REPORTING
DETAILED REPORTING

A reliable payment gatewy can not only assist in effciency, but also inform future decisions for your business. Recieve detailed reporting of your transactions, view individual transactions and settlements seamlessly.

INVOICING
INVOICING

Streamlining payment processing and invoices are crucial in the success of your busienss. Genrate invoices from your gateway and directly send via email payment. Once recieved, your customers will easily make their payments with few clicks

FRAUD DETECTION
FRAUD DETECTION

A good payment gateway makes safety and security foundational. Set up your own rule based parameters to help protect you and your cutomers from fraudulent activity.

SECURE TRANSACTIONS
SECURE TRANASACTIONS

The use of the most modern and robust encryption system, P2PE, is utilized in order to ensure no cardholder information is ever exposed. You can rest assured that every transaction will be encrypted and secured.

NUMEROUS PAYMENT OPTIONS
NUMEROUS PAYMENT OPTIONS

Allowing your customers to use their preferred mode of payment is key in predicting future success. It not only leads to repeat customers, but also greater opportunities in generating revenue. Your payment gateway will give you the capability to accept debit cards, Visa, MasterCard, American Express and Discover, among many others.

Documents Required

We make it our priority to offer our customers the fastest approval time with the best available rates.

Signed Application

Signed application

Three months of business bank statements

Three months of business bank statements

credit card processing statements

Three months of credit card processing statements, if available

Voided check

Voided check

Driver’s license

Driver’s license

Copy of lease for business

Copy of lease for business

Additional documentation may be required depending on business type.

High-risk merchant accounts are a big help to businesses in risky industries. They offer various benefits like diverse payment options, global reach, better cash flow, and customized solutions. If you need one, here are some tips to find a high risk merchant account provider.

Let us get your business started on the right track.png

When picking a high risk credit card processor, it is important to find one that specializes in your type of business. Merchantech has over 14 years of experience in helping high risk companies accept credit cards. We specialize in offering high risk merchant services across the country with high risk credit card processing solutions.

Let us get your business started on the right track.

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