6 Best High-Risk Merchant Accounts for Small Businesses

Top High-Risk Merchant Services

Ever since the dawn of the Internet, it’s been a tricky experience for merchants to accept credit cards and ensure online security for their businesses. They have to make sure that their platforms and online stores are secure enough to avoid risking their customers’ credit card details.

However, when you use a high-risk merchant account, you can offer your customers a simpler and hassle-free shopping experience without the threat of losing those credit card details.

High-risk merchant services use advanced risk techniques such as tokenization and token storage, which allow you to separate the customer’s credit card details from your business’s database. So instead of storing your customers’ credit card numbers in your database, you store tokens they’ll use to enter their card details.

These services also allow you to store your customer’s credit card details safely and effectively. If you use the account to accept cards from more than one country, you can store the customers’ credit card details separately for each country.

In other words, the service allows you to separate consumer wallet information from your business. It’s important that you use one of the best high-risk merchant accounts that provides you with customizable services that are capable of meeting your needs.

What Are High-Risk Merchants?

If you own, manage, or manage and operate a small business, it’s important to have a merchant account that’s not only secure but also meets your everyday business needs. Fortunately, there’s a wide range of merchant accounts for businesses, including traditional merchant accounts (Visa, Master Card, etc.) and even high-risk merchant accounts.

A high-risk merchant account is one that’s specifically tailored to target high-risk businesses, including ancillary designers, entertainers, animal groomers, risk takers, and others. As of January 2017, there are more than 40 high-risk merchant accounts available to small businesses.

Regardless of what you’re doing, or even whether your business operates online or offline, we saw that all high-risk merchant accounts are secure, which is important because they can all be used to accept payment for goods and services online or offline. Our panel of experts here at Small Business Experts have also gone as far as to say that they are among the most user-friendly high-risk merchant accounts available today. If you’re looking for an account that’s secure and user-friendly, keep reading.

What Is a High-risk Merchant Account?

High risk merchant accounts are ones that have a higher level of risk associated with them for the merchant as well as the bank processing the transactions. For example, some merchants have applications that process pre-authorizations against their account. These have a higher level of risk compared to those merchants who don’t use pre-authorizations.

Another example is those merchants who use a CNP merchant account. CNP merchant accounts have a higher level of risk as they are usually used to chargeback or dispute other merchant accounts.

While the level of risk differs between merchants and banks, it is better to go with banks that have a better history of decreasing the level of these types of risks.

We have compiled a list of 6 high-risk merchant account examples that can be safely used by small businesses:

FX Spot Merchant Account from OC Payments

The FX Spot merchant account is specifically designed for spot trading. Spot trading is a type of trading where investors buy and resell an asset at a set price. The FX Spot merchant account allows cryptocurrency traders to purchase, sell, and trade Bitcoin, Litecoin, and other supported cryptocurrencies.

How We Evaluated High-Risk Merchant Accounts

30% of Overall Score

The 30% point gets weighted a little more heavily (2.5 in the overall point scale). The reason is that this attribute has to do with a merchant’s ability to accept low-risk forms of payment. Small businesses that process high-risk payments may be able to manage that risk with great success. But smaller businesses may offer a product or service that’s more susceptible to fraud. In those cases, it is a helpful earner to be able to accept the different forms of payment that are available at lower risk than credit card payments.

20% of Overall Score

Your business can’t grow if it doesn’t have customers. But before you can even open your doors, you need to collect information about your company and your customers. First and foremost you’ll need a phone number, but you’ll also want to pick up your optional fax number and an email address. Before you start reaching out to customers, you’ll want to make sure that you have a means of tracking the status of each of your contacts. Some high-risk merchants, such as custom CPA companies and tax prep companies.

As you can imagine, the biggest threat to a tax preparer or accountant is the IRS showing up on their doorstep. Credit card companies have a much more limited ability to come after you; but even so, they might be a risky choice for high-risk businesses.

30% of Overall Score

20% of Overall Score

PaymentCloud

Payment processing is one of the most important parts of any online business. In addition to having the right technology to accept payments from your customers, the most basic element of an effective payment system is a merchant account.

A merchant account is a type of bank account that is fully integrated with your store’s online payment system. It’s an account that lets you accept credit and debit cards as well as store credit cards for automatic billing.

While we understand that opening a bank account can be a bit intimidating, the good news is that we’re ready to help you find a merchant account that’s right for you, whether it’s for your personal business or your professional photography business.

First, let’s find out the basic types of merchant accounts.

Merchant Accounts

Full Service Merchant Account

A full-service merchant account has everything you need to accept credit and debit card payments. This means that you’ll be able to accept credit and debit cards as well as store cards – all with the convenience of an online payment system. Furthermore, this type of merchant account is also used for processing international transactions.

PROS

A merchant account is essential for online payments. If you’re new to the world of e-commerce, you may worry that you’re at a competitive disadvantage and will need to set up an account without the help. But you’re not alone “ a vast majority of merchants do it themselves, and many people use third-party services instead (and that’s okay, too).

If you’re just starting out and can’t muster the resources to set up your own account yet, there are some great options you can consider.

CONS

WHAT IS CONSOLIDATED BILLING?

Consolidated billing is the process by which two or more companies provide payment services for a merchant. Typically, consolidating means that more than one vendor is handling the same merchant’s payment processing.

When one vendor does not stand behind its customers, it’s a good idea to talk to the other company involved to see what it can do to help.

HOW WILL MY BUSINESS BENEFIT?

One company may not have enough capital to offer the higher fees and payment term you need, and the other company may charge more than you are willing to pay.

If two companies are able to work together as a team, each can offer the best deal available.

For an example, say you have an active credit card processing account with one company and a merchant account with another company. Instead of declining one transaction, the system automatically sends a copy of the declined transaction to the other company. Once the other company has verified that the declined transaction was fraudulent, it can override the transaction and take the payment processing forward again. The merchant is then credited the funds.

This can be helpful when processing a payment, because a single transaction can be turned around quickly and the merchant credited with the funds quickly.

PaymentCloud Pricing

Merchant services like Payment Cloud allow to take received payments in your e-commerce via checkout, and effectively make it more convenient for both you and your customers. You can choose different payment gateways, depending on the type of business you have.

Merchant account providers like Visa and MasterCard do not provide you with their offerings in a single payment gateway. You have to choose from a variety of options. This can be confusing for the merchant who does not know which options are best for him and his business. Visa and MasterCard offer a variety of payment verification methods, such as Visa Checkout and iDEAL. However, they might not be suitable for every business.

It might not be a good option to apply for a merchant account in high-risk industries like gambling or drugs. Therefore, merchant account providers such as Payment Cloud give you access to various alternatives in different payment gateways.

PaymentCloud Features

The following are some of the features of PaymentCloud:

P2P Transaction

P2P Transactions allow two parties to split a transaction into parts, divide the fee within each party, and send the merchant money electronically almost instantly. The entire transaction is settled in a short amount of time because PaymentCloud takes care of converting the foreign currency and making sure that the transaction is cleared properly.

Online Dispute Resolution

Online Dispute Resolution allows merchants to file disputes against credit cards or debit cards. Merchants can utilize this feature to resolve billing or shipping issues as well as to get their money back should a transaction be declined.

Point of Sale

Point of Sale gives you the ability to use a combination of software, analytics, and a merchant account platform to work with customers and manage day-to-day business tasks. The software will track customer preferences, location, and shopping behavior.

Chargebacks & Fraud Protection

The chargesback policies and fraud protection shields merchants from fraudulent charges. Chargebacks enable merchants to undo any transaction that has been charged back.

Direct Debit

The direct debit feature of PaymentCloud allows merchants to give customers a fixed credit to utilize at any time. It can be used for paying bills, paying any expenses online, or other businesses that accept credit cards.

PaymentCloud Compatible Industries

Durango

Durango Bank…the seventh largest bank in the country…offers a variety of valuable service offerings for small local businesses.

The bank…founded in 1897…currently services 1.5 million customers and operates more than 500 branches in the Southwest and Western United States.

Durango Bank offers a full line of financial products to its consumers, including checking, savings, certificates of deposit, IRA, and online banking. It is committed to providing credit and payment services for small businesses, including merchant and ACH processing.

Among the many services Durango provides are merchant financing, merchant settlement, ACH processing, debit card services, gift card services, and business deposit coinsurance.

PROS

If you’re just starting out and can’t muster the resources to set up your own account yet, there are some great options you can consider.

CONS

WHAT IS CONSOLIDATED BILLING?

When one vendor does not stand behind its customers, it’s a good idea to talk to the other company involved to see what it can do to help.

HOW WILL MY BUSINESS BENEFIT?

One company may not have enough capital to offer the higher fees and payment term you need, and the other company may charge more than you are willing to pay.

If two companies are able to work together as a team, each can offer the best deal available.

This can be helpful when processing a payment, because a single transaction can be turned around quickly and the merchant credited with the funds quickly.

Durango Pricing

Durango’s pricing schedule is straightforward and suitable for most small businesses. So you get a discount on most shared hosting and you pay for the services only when you use them. This is why Durango is the right option for small businesses that don’t need more than a single dedicated server or virtual server or require a dedicated server with a large memory.

Furthermore, a Durango master plan gives you access to unlimited email accounts, unlimited disk space, unlimited banners, and unlimited users. These are all standard features available in most other web hosts.

The only downside to Durango pricing is that it doesn’t have an option for unlimited domains. But if you’re a small business with a single domain, then you don’t need that feature.

However, if your business requires you to have multiple websites, then you need to go with a managed hosting plan.

Durango Features

A merchant account is an account from a bank, specifically designed to work with merchants on their website. These accounts are available in a variety of designs that have been optimized for different industries. Merchants with heavy e-commerce traffic may want the merchant account with a PCI Compliant offering. Merchants with low to medium internet traffic may choose a standard offering. DurangoCommerce has worked with several popular merchant account providers to create a merchant account optimized for the specific industry it services.

Customers

Where the customer comes into contact with the merchant account provider, the value of the products or services, and the frequency of the contact all play into effective consumer-facing marketing. The PCI Compliant merchant account offers access to a global consumer base, and the standard offering offers access to the local consumer and small business base. Providers

The number of locations a provider has determines the number of merchant accounts they can service and the quality of the support they can provide. Large providers are able to specialize in certain industries, including industry driven PCI Compliant optimized merchant accounts. Processing Speed

A low processing speed can limit the number of transactions a merchant can complete each second, which affects the number of transactions a visitor will complete a site. The standard offering is average processing speed.

Speed

Determines the transaction speed of a website and supports targeted marketing. The standard offering is average transaction speed.

Durango Compatible and Prohibited Industries

Durango is a high-risk merchant account that is compatible with the most credit-worthy buyers, including those who have trade accounts. Merchants can’t have any type of restrictions if they want to work with Durango. This is because there are no limitations on the industries that they can work with, so merchants will be able to get involved in the following high-risk industries:

Real estate
Construction
Phone accessory sales and sales of telecommunications equipment
Equipment rental
Military sales
Pawn services
Certain mining activities
Certain mortgage activities

If you have a trade account, the following are allowed:

Retailers
Insurance services
Payment services
Certain financial services

The reason that Durango is affiliated with high-risk merchants is because many of their customers are in high-risk industries.

Host Merchant Services

Is the most comprehensive merchant account provider. We offer our small business clients competitive pricing, market-leading convenience, a wide spectrum of payment options, and a 24/7 service response. Our Merchant Account Service includes:

Low Processing Fees
Dedicated Account Managers
Available for All Types of Transactions
Secure Gateway Solution
Customer Billing
Transparency of Fees
24/7 Customer Service

PROS

If you’re just starting out and can’t muster the resources to set up your own account yet, there are some great options you can consider.

CONS

WHAT IS CONSOLIDATED BILLING?

When one vendor does not stand behind its customers, it’s a good idea to talk to the other company involved to see what it can do to help.

HOW WILL MY BUSINESS BENEFIT?

One company may not have enough capital to offer the higher fees and payment term you need, and the other company may charge more than you are willing to pay.

If two companies are able to work together as a team, each can offer the best deal available.

This can be helpful when processing a payment, because a single transaction can be turned around quickly and the merchant credited with the funds quickly.

Host Merchant Services Pricing

Merchant services provide backup and security for business customers. They make the electronic process of accepting payment quick and reliable for all of us.

By sharing merchant services pricing and information, we’re not recommending any one merchant service over another. Your best bet is to thoroughly research and determine your needs before committing.

Looking for a reliable merchant services provider? Read this overview of services to understand job basics as well as current job offerings and see what is best for you.

Host Merchant Services Features

When you’re starting a new business, you need to take the time to evaluate your needs and the risks involved. While you may feel that you’re taking a low-risk approach by keeping your money in a bank account, the truth is that, if you suffer a loss in your business, you’ll have to factor in fees, penalties, and associated fees when declaring your income and paying your taxes.

Here’s Why You Need a Merchant Account
Merchants are required by law to handle any money that they receive on electronic transfers. They’re required to maintain accurate records of any transactions, and store those records for a minimum of 3 years.

As these laws become more and more strict, the potential risks increase. Large banks are often unwilling to open a merchant account to smaller businesses who don’t have the money or bank volume to take the risk. Startups and solo indie entrepreneurs go through a lot of work just to set up their businesses, and it’s high time we get our priorities straight and take a deeper look at the risks of doing business without a merchant account.

Host Merchant Services Compatible Industries

High-Risk Merchants

Not all merchant accounts support all businesses or all types of products and services. In fact, several of the best merchant accounts fit precisely the needs of high-risk merchants….

Although there are a wide range of merchant accounts available, not all merchants need to utilize a third-party payment processing service. In this post, I’m sharing the 6 best merchant accounts that cater to high-risk merchants.

Best High-Risk Merchant Accounts

Merchant Account 1: Amex

This merchant account was designed for high-risk merchants, but it’s also the best overall choice from a features perspective. Here are some of the highlights:

No monthly fees
Unlimited processor transactions per month
Accepts the widest variety of online and mobile payments, including PayPal, Stripe and CyberSource
Accepts a wide variety of high-risk merchant types such as travel agent and online auction services
Accommodates both Hosted POS and Hybrid POS Solutions
Accepts major credit cards (Visa, MasterCard, Discover and American Express)
Can be used with your own merchant account number or a reseller account
Provides live customer service for help and inquiries

SMB Global

SMB Global provides excellent merchant solutions for small business owners. We reviewed their "basic" merchant account and decided to take the leap into the fees with this tiers service.

In our case, we are running a webstore that requires a large number of payments aggregated to maximize discounts. The base fee is very competitive and the bonus structure is good, although the per month fee is high for a single payment processor.

Overall, this is a great merchant solution for most businesses.

PROS

If you’re just starting out and can’t muster the resources to set up your own account yet, there are some great options you can consider.

CONS

WHAT IS CONSOLIDATED BILLING?

When one vendor does not stand behind its customers, it’s a good idea to talk to the other company involved to see what it can do to help.

HOW WILL MY BUSINESS BENEFIT?

One company may not have enough capital to offer the higher fees and payment term you need, and the other company may charge more than you are willing to pay.

If two companies are able to work together as a team, each can offer the best deal available.

This can be helpful when processing a payment, because a single transaction can be turned around quickly and the merchant credited with the funds quickly.

SMB Global Pricing

A Discounted Rate for Merchant Accounts

In today’s world, businesses need to be in touch with global markets, enabling them to offer their products and services to customers in both their home countries and other international locations.

However, businesses going global always face a problem: they don’t have sufficient capital to move their business operations into a foreign country.

This is where major players like SMB Global come in. Although these organizations are not banks, they are ready to lend you the funds required to go global, as long as you are a legitimate merchant.

However, all big business plans have their own logistics, so it comes as no surprise that SMB Global’s rates and permissions vary from one business and one business location to another.

Know More about SMB Global Login Here>>>

However, for small and medium-sized enterprises that wish to expand into overseas marketplaces, SMB Global provides a cash advance option to help them facilitate payment processing in areas where the prevailing country’s credit card system is not accepted.

With the introduction of credit cards, postal savings, and automated teller machines, SMB Global introduced its own payment processing system known as the Smart Biz Card to help customers directly access these payment opportunities.

SMB Global Features

There is a high risk of chargebacks for average buyers, so it’s important to have enough resources with a high-risk merchant account. Merchants can suffer loss of revenue and facing business to business accounts will almost guarantee high risk.

However, if you own a market research business, your business requires higher risk merchant accounts because the medium is mostly a small business, business model, sell products and services online and have a nice appearance that create a high risk performance.

Furthermore, a high risk merchant account will be able to fulfill your needs for a longer time, can save a lot of money the additional cost of monitoring and help you achieve timely cash flows.

In addition, it provides additional insurance for your business, using an advanced POS software such as Agile POS (compatible with Windows, Linux and Mac) will reduce your business risks and enjoy an attractive feature of hassle-free transactions, so it is also suitable for businesses that deal with a large number of cash and bank transactions.

Below, we describe 6 merchant accounts, MSB Global, Fidelity Pay, Sam’s Club SMB, Paypal with Global Branded Account, eFunds Business and Republic Bank’s SME, for small and medium businesses that require higher risk.

Avoid high risk merchants, it is the key to the success of your business!

SMB Global Chargeback Prevention

SMB Global Chargebacks are becoming a common method of fraud on open accounts. Merchants who regularly accept credit card payments through online transactions are at a high risk.

This is caused by their method of taking payments, where the buyer may buy a product when not completely satisfied. In this case, the buyer may report the transaction as a non-delivery and an unauthorized transfer of funds.

The result is a chargeback through the credit card payment provider and the loss of income for your store.

Furthermore, even with high risk merchant accounts offering chargeback protection, they are unable to avoid some of the risks.

These are the six best high risk merchant accounts for small businesses.

Armed with Capital

Armed with Capital (ABC) is a merchant service provider that offers high risk acceptance, form filler, and custom declaration services. There are two payment method acceptance levels … one for companies that accept debit card payments and one for companies that only accept credit card payments.

The focus is on accepting payments through credit cards and online transactions. The transactions are run through both server-to-server and online payment gateways, which makes it simple to stay up-to-date on payments and track customers’ history.

The best thing about this merchant service provider is that it offers free reports and statements for the customers who completed a minimum volume of purchases.

SMB Global Compatible Industries

Under the present economic, innovation, social and political conditions, SMBs must be imaginative to succeed, with the competitive edge. Being innovative and adaptive is viable only if you think out-of-the-box and consider emerging risks. Therefore, it is indispensable for SMBs to explore the new economy and latest technology, not only to capture the market, but to protect the assets of the business.

SMBs could not feel satisfied with traditional banking, preferring or instead of the banking services offered by the conventional, SMBs prefer to take the banking services from different vendors such as PayPal. PayPal is a high-risk merchant account provider that provide SMBs worldwide with a popular payment solution.

Soar Payments

Skrill payment is offering new accounts for the small merchants with controlling difficulties for the acceptance of a high risk payment system.The easy management is chosen to handle with these small business.

The technology used in processing the payments is electronic cash or credit card system. The merchants need not pay any fee for the processing of the transactions. The processing of the payments is easy and convenient

It is supported by the genuine payment system and top security company. The customers answer with the mobile terminal and pin number.

Cloud Computing

It accommodate any kind of form of payment e.g different types of financial transactions. The customers are secured with affordable and quick customer services.

It is convenient for the companies that wants to deal for multiple payment types.

Turbine, Moneegro and GCash.

Merchant banks are the processing companies who worked for the transaction.

They Meet the Requirement of the Businesses Which Demands for Quick Transaction and Customer Support

The merchants can use their available balance to purchase their goods according to the credits.

It can be denominated in an equivalent amount of local currency in more than 150 countries.

The customer support services are better and got information of the time when the transaction will be made.

PROS

If you’re just starting out and can’t muster the resources to set up your own account yet, there are some great options you can consider.

CONS

WHAT IS CONSOLIDATED BILLING?

When one vendor does not stand behind its customers, it’s a good idea to talk to the other company involved to see what it can do to help.

HOW WILL MY BUSINESS BENEFIT?

One company may not have enough capital to offer the higher fees and payment term you need, and the other company may charge more than you are willing to pay.

If two companies are able to work together as a team, each can offer the best deal available.

This can be helpful when processing a payment, because a single transaction can be turned around quickly and the merchant credited with the funds quickly.

Soar Payments Pricing

Soar Payments is a company that provides competitive merchant account pricing for businesses looking to accept credit cards. There are a few benefits you can gain from using their services, starting with the product and technical support. With Soar, you never have to guess at the fees you’re charged, thanks to their transparent pricing.

The service also comes with very fast transaction speeds, fast credit card swiping, simultaneous machine support, and reimbursed fees.

You don’t have to pay a fee to receive direct deposit, and there are no monthly minimums for your processing volume.

The account enables you to accept both MasterCard and VISA, and the service is available for both online and brick and mortar operations.

Other features include a free PCI compliance kit, free American Express support, an online business builder, free EMV support, many payout options, and no monthly fees.

Soar Payments Features

We support various online payment networks that allow users of our merchant service to accept payments from any of their customers in any of the currencies they have in their electronic funds transfer solutions.

3-D Secure and VCC

Set up a VCC or submit payment information via a 3-D secure token (which is a chip and PIN solution).

Embrace a Global Customer Base

Our services cater to businesses all over the world … in fact, we support over 200 countries/territories from over 30 currencies.

Process Daily Payments

Process all online payments in the same day if they’re approved, while your customers get to see your payment history the same day.

Collect Dropped Tickets

Collect all payments in one merchant account – whether through POS systems, drop-off points or online payments – from any type of customer.

Easily Increase Processing Limits

Choose a merchant service with a flexible processing limit that can be increased when demand rises.

Soar Payments Compatible and Prohibited Industries

S-Biz is another premier solution provider that serves Merchant Account providers in a variety of industries. With over 300 processing platforms, over 600 different business types and over 55 different payment approaches to choose from, soaring to any height will not be as simple as it seems.

The restrictions vary from account plans to processing platforms to service providers. Depending on an account plan, you will be restricted to a particular area of expertise that will better suit your industry. With thousands of processing platforms, the platform of choice will depend on the processing platforms that offer the services you require.

Regardless, it is best to start with a checklist and know exactly what kind of Merchant Account you want.

If you are planning to purchase a merchant account solution, the first thing you need to check is whether the merchant account you intend to purchase is compatible with your industry and the kind of business you hold. Carefully check your business and industry first before signing up to any service.

While it could be tempting to scale on your first flight attempt, it is better instead to be safe than sorry. And the best way to guarantee your success is to avoid a crashing landing. Let your homework be your personal flying instructor.

eMerchant Broker

To run your business well, you need a merchant broker that will help you grow your business and stay profitable. You’ll need to look at all the different options and you’ll need to know exactly what you’re paying for and what’s included with each service.

A merchant account is a specialized program for business that allows you to accept credit card and debit card transactions on your website, app, and other online transactions. It also allows your customers to pay for goods and services through your business in the form of a credit card or a debit card.

It’s always best to consider eMerchant Brokerages (merchant account specialists) as an integral part of your business.

If you’re starting a business and you’re just looking for what you need to get you up and running, you can find the information you need online. You’ll just have to schedule a call for an account setup if the merchant account specialist (the merchant broker) is your go-to resource for all account setup and questions.

If the merchant account is an expert in that field or if the merchant account helps you build your brand, then it is important to work with the merchant account provider to build your business the right way.

PROS

If you’re just starting out and can’t muster the resources to set up your own account yet, there are some great options you can consider.

CONS

WHAT IS CONSOLIDATED BILLING?

When one vendor does not stand behind its customers, it’s a good idea to talk to the other company involved to see what it can do to help.

HOW WILL MY BUSINESS BENEFIT?

One company may not have enough capital to offer the higher fees and payment term you need, and the other company may charge more than you are willing to pay.

If two companies are able to work together as a team, each can offer the best deal available.

This can be helpful when processing a payment, because a single transaction can be turned around quickly and the merchant credited with the funds quickly.

eMerchantBroker Pricing

EMerchantBroker will help you become more profitable and manage your inventory with ease. By providing your business with the tools to manage your inventory, you will have more time to focus on running your business and scaling your success. These tools will help save you time and money so that you are fully focused on your business.

Knowing how to create a good merchant account is a good skill to have for your business. This information is quickly changing due to new technology. It is so important to understand how you can manage your payments and inventory through the use of a good web payment provider. By being prepared and staying on top of this trend and becoming familiar with the best website payment providers and how you can afford them with your business, you too can benefit and gain comfort when managing your payment and inventory processes.

If you are just starting and don’t know which merchant account provider will the best fit for your small business, you can start with the basic options available for free and from there step up to the more advanced options as your business grows.

eMerchantBroker Features

eMerchantBroker CBD Merchant Accounts

If you’re a small business owner who wants a high risk merchant account for your online store, eMerchantBroker’s merchant account offers the best ecommerce rates.

To get an approval for a high risk merchant account, your company needs to have a solid credit history and history of working with financial institutions. However, there are some businesses that don’t meet these requirements. Some businesses might not have a history of working with financial institutions because they’ve been only recently started, and some businesses might have a credit history that’s not as solid as they thought.

But don’t worry … you can still qualify for a high risk merchant account through eMerchantBroker’s merchant account. eMerchantBroker’s high risk merchant account is ideal for you if:

Your company is just starting up.

You have a previous history of working with financial institutions.

You have a credit score of 700 or higher.

Yes, eMerchantBroker’s high risk merchant account is ideal for even large and established companies, small businesses and even startups. Most companies with a history of working with financial institutions are still eligible to get high risk merchant accounts.

eMerchantBroker Approved and Prohibited Industries

EBay, Etsy and other online marketplaces are great for many small businesses. One of the many ways to make selling on these sites more lucrative and profitable is to qualify for the right merchant account. Different small businesses operate with different selling methods and operate in different industries, which is why a variety of merchants account programs are available to allow easier processing of a merchant’s custom payment services.

The following is a list of eMerchantBroker’s approved and prohibited industries and the case by case types of merchant accounts for each industry. This list is provided for informational gain only and does not constitute a solicitation to apply for a merchant account, nor is it intended for use as a resource for determining the suitability of a merchant account for your small business.

Bottom Line

6 Best Merchant Accounts to Manage Risk

Merchant services offer a wide range of payment processing options designed for businesses of all different shapes and sizes, ranging from small local merchants to huge international merchants.

Building your own high-risk merchant account is an option for growing businesses that want to accept credit and debit cards, and might even want to consider accepting online payments, money transfers and international payments.

Building a merchant account is complicated and involves a great deal of technical knowledge. You’ll also need to work with your accounting person to understand the business line and how the merchant account works. It’s an investment of time and materials. However, there are some compelling reasons to consider building your own merchant account instead of using a third-party service.

Building your own merchant account helps you maintain control of your data. You’ll also be able to refine the systems in place to support your business and restrict any sort of unauthorized or fraudulant use of your credit card processing.

Using your own merchant account, you’ll also have the flexibility to develop a payment system that best matches your business needs. You’ll be able to customize the merchant account to link up to the tools, services and integrations you use in your business and make it work seamlessly. Finally, building your own merchant accounts will save you money.