Payment Processing for High Risk Merchants
Many businesses often don't even realize that they are a high risk merchant, such as those requiring a credit repair merchant account, until something goes wrong. As a result, their payment processing account gets frozen for insufficient funds.
Even worse, the chargebacks start stacking up and the account is completely shut down. The merchant is then left wondering how to get themselves out of a high risk processing predicament they didn't even see coming.
High Risk Merchant List
If you want to know if your business is on the high risk merchant list, then you'll want to check the main industries below. There are significantly more regulations to follow for companies listed there. Restrictions limit access to resources that would be available to low risk businesses. As a result, there are far more hoops to jump through before acquiring proper payment processing.
We've seen regulation crackdowns in several industries more recently than ever. Here are the top 5 high risk merchants that are mostly likely to process high risk payments. These businesses need a trusted company like PayKings to provide them with high risk credit card processing.
High Risk Merchant List Industries, including ecommerce merchant account providers
1. Nutraceutical Merchant Accounts
First, on the high risk merchant list is nutraceuticals. PayKings leads the industry for payments companies that are considered to be a nutraceutical merchant account.
So how do you go about getting a high risk merchant account for your nutraceutical business? It's a relatively simple process. First, choose a merchant account payment processor provider. You need to select a reputable company. Therefore, use one who has direct relationships with bank sponsors that can provide you with payment processing like PayKings. In short, you need a high risk merchant account provider to be successful.
As a result, nutraceutical merchants often have trouble finding online credit card processing because of potentially high chargebacks and continuity billing models. However, most banks consider nutraceutical merchants too much of a risk. For example, PayKings understands the unique needs of the nutraceutical industry and has multiple domestic and international options to keep your business sustainable.
2. Adult Industry Merchant Accounts
Coming in at number two on the high risk merchant list is adult. When it comes to the adult entertainment industry, PayKings leads the way as a trusted high risk adult merchant account provider.
Getting a high risk merchant account for your adult entertainment business isn't an impossible task. Without knowing where to start, it can seem overwhelming. It is especially difficult if you weren't previously aware that your business was considered to be high risk. Therefore, it is time to choose a merchant account payment processor.
You need to choose a reputable company like PayKings, who has direct relationships with bank sponsors that can provide you with payment processing. Therefore, the most important element is understanding that you need a high risk merchant account provider to be successful in your industry.
3. Vape and E-Cig Merchant Accounts
Third is vape and eciggarates. PayKings pride themselves on being the #1 payments company in the industry of high risk vape and E-Cig merchant accounts. With regulations on payment processing getting more strict, you will need a solution you can rely on.
Have you been faced with the tough task of finding a payments processing solution due to the crack down on vape and E-Cig sales? Have no fear about getting a high risk merchant account for your vape or E-Cig business. First, choose a high risk processing merchant account provider. You need to choose a reputable company like PayKings, who has direct relationships with bank sponsors that can provide you with payment processing. Bottom line: you need a high risk merchant account provider to be successful in your industry.
4. Subscription Box Payment Processing
If your company has subscription billing, then you're a contender for the high risk merchant list and might need a subscription merchant account. Not to worry, when you need a company to process payments for a high risk subscription box merchant account, PayKings has you covered.
How do you obtain a high risk merchant processor for your subscription box business? Good question. The process begins with choosing a merchant account payment processor. Consequently, you need to choose a reputable company like PayKings, who has direct relationships with bank sponsors that can provide you with payment processing. You need a high risk merchant account provider for financial stability in your company.
5. Firearms Merchant Accounts
Firearms merchant accounts need reliable and experienced payments companies. However, they need to be high risk firearms merchant account providers. PayKings takes the lead and provides a complete solution for all your payment needs.
Above all, the first step to getting a high risk merchant account for your firearms business is choosing a good merchant payment processor. You need to choose a reputable company like PayKings because they have direct relationships with bank sponsors that can provide you with payment processing.
Businesses Categorized as High Risk Merchant
When your business is categorized as a high risk merchant it can be difficult to know where to get the high risk merchant services. This is important because you need to successfully receive debit card and credit card purchases. If you're unsure if your business is considered low or high risk, refer to this high risk merchant list for industries that require customized payment processors:
- Adult
- Airlines and Booking
- Auto Warranties
- Background Checks
- Bad Credit
- Business Consulting
- Business Opportunities
- CBD Oil
- Coins and Collectibles
- Continuity Billing
- Credit Monitoring
- Credit Repair
- Dating
- Debt Collections
- Fantasy Sports
- Firearms
- Gentleman's Clubs
- Government Grants
- Health and Beauty
- High-Ticket Coaching
- Male Enhancement
- Memberships
- Marketing
- Nutraceuticals
- Online Gaming
- Pawn Shops
- Pay-Day Lenders
- Skin and Hair Care
- Subscription Boxes
- Travel
- Vape
- Web Design and SEO