instant approval high risk merchant account

High Risk Merchant Account Instant Approval Rundown

  • High risk merchant accounts provide payment processing services for businesses categorized within high-risk industries.
  • For example, PayPal only supports low-risk businesses.
  • Various factors may necessitate the need for high risk merchant services.
  • Factors such as credit score, chargebacks, and industry type can classify your business as high risk.
  • High Risk Merchant Account Instant Approval is rare but achievable for well-established businesses.
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Businesses Fall Into the high Risk Category

Businesses Fall Into the high Risk Category

Certain businesses are considered high risk because of the products or services they provide, which increases the risk of fraud and leads to 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. Additionally, some instant approval merchant account providers have strict criteria that might not fit all businesses. It’s important for businesses to choose a high-risk merchant account provider like Merchantech, which offers tailored solutions and expert guidance to help them thrive.

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

Since our inception, Merchantech has been a trusted payment processing company, offering reliable services to high-risk businesses across diverse industries. We prioritize integrity, honesty, dedication, and excellent service. Let us assist your high-risk business in seamlessly accepting credit cards, and we provide guidance on applying for high-risk merchant services—follow our steps and apply today.

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.

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

When choosing a high risk merchant services, it is important to select one that specializes in your type of business. Merchantech has over 14 years of experience in assisting high-risk companies to accept credit cards. We specialize in providing high-risk merchant services nationwide, offering tailored credit card processing solutions.

Let us get your business started on the right track.

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Frequently Asked Questions

How Do You Compare High Risk Merchant Account fees?

High-risk merchant account fees depend on various factors such as transaction fees, chargeback fees, monthly account fees, and any additional charges. Consider not only the costs but also the value provided.

What is High Risk Merchant Account Integration with Payment Gateways?

Integration of a high-risk merchant account with payment gateways refers to connecting your account with a payment gateway system. This integration allows businesses to securely process online transactions. It's essential that the payment gateway is compatible with high-risk accounts to ensure seamless transaction processing, fraud prevention, and data security.

How to Navigate High Risk Merchant Account Regulations and Compliance?

Navigating regulations and compliance for high-risk merchant accounts entails staying informed about the laws and standards that govern these transactions. Businesses must collaborate with their account providers to ensure adherence to industry regulations, such as PCI DSS compliance for card security. Regularly updating security measures and maintaining transparency in business practices are also critical for remaining compliant.

Are There Specific Industries That Benefit Most from High Risk Merchant Accounts?

Certain industries are considered high risk due to higher chargebacks, and fraud. Industries like Adult Entertainment, gaming and gambling, travel and tourism, health and wellness, and tech support. High risk merchant account provider offers tailored services and risk management strategies for smooth operation in these sectors.

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