Best High-Risk Merchant Account Service Providers

It can be a challenging task for companies in “high-risk” industries to secure a dependable payment processor. Whether you operate an online gaming site, a subscription service, a CBD store, or a travel company, banks and traditional processors often brand your business as risky due to factors such as chargebacks, fraud, regulatory issues, or fluctuations in value. This is where high-risk merchant account providers come in. These providers focus on providing tailored stacks that enable higher-risk merchants to accept credit card and digital payments securely.

In this blog, we will list a few high-risk merchant account service providers and discuss about essential information.

What Is a High-Risk Merchant Account?

A high risk merchant account is a specific type of merchant account designed for businesses deemed to be high risk in an industry that by nature presents elevated risks. These are the types of businesses that normal banks or processors can’t support, so you will need to partner with an industry-specific provider. Industries often considered high-risk include:

• Travel and hospitality services.
• Online gambling and gaming.
• CBD, nutraceuticals, and supplements.
• Adult entertainment.
• E-cigarettes and vape products.
• Tech support and SaaS with recurring billing.

Commonly, these businesses experience an elevated chargeback ratios, increased regulatory requirements, and greater susceptibility to online fraud. Providers of high-risk merchant accounts appreciate these challenges and develop specific solutions to address them.

Why Do Businesses Need a High-Risk Merchant Account?

There are many reasons why high-risk businesses require these niche-specific accounts:

1. Secure Payment Processing: So they don’t have to worry about accepting credit cards, debit cards, or digital wallets.
2. Chargeback Management: Chargeback management is offered in many high risk services.
3. Global Reach: Several of the high-risk processors we list allow you to transact in other countries or internationally.
4. Compliance Support: They can help guide industry-specific compliance.
5. Fraud Prevention: Integrated fraud detection tools protects both the merchant and consumers.

Many high-risk businesses would not be able to function optimally but for such providers.

Key Features to Look for in a High-Risk Merchant Account Provider

But before we get to the list of providers, we should define what exactly makes a provider one to trust. Here are some things to look for.:

• Chargeback mitigation programs.
• Multi-currency and global payment support.
• Customizable payment gateways.
• Integration with eCommerce platforms.
• Robust reporting and analytics dashboards.
• Customer services are available 24/7 to resolve issues quickly.

Best High-Risk Merchant Account Service Providers

Here we detail the most reliable and popular high-risk merchant account service providers in the industry:

1. Host Merchant Services

Host Merchant Services is a proven leader in the high-risk payment processing space, offering customized solutions designed for businesses across a wide spectrum of high-risk industries. From CBD and supplements to online gaming, adult content, and travel agencies, the company provides secure, flexible, and transparent payment processing tailored to meet the needs of challenging markets.

Key Features:

• Specialized high-risk merchant accounts across diverse industries.
• Advanced fraud prevention and proactive chargeback management.
• Assistance with card brand compliance and reduced reserve requirements.
• Transparent pricing with no hidden fees or restrictive contracts.
• Seamless integration with eCommerce platforms and business software.
• Dedicated support team focused on stability, growth, and merchant success.

2. PayKings

PayKings is a trusted leader in high-risk payment processing. The company specializes in serving businesses ranging from CBD vendors to subscription box services, among many other high-risk industries.

Key Features:

• Tailored solutions for high-risk industries.
• Wide network of acquiring banks.
• Chargeback prevention and fraud protection tools.
• Integration with major eCommerce platforms like Shopify, WooCommerce, and Magento.

3. eMerchantBroker (EMB)

Another excellent provider of high-risk merchant services is eMerchantBroker (EMB). They are well known for their all-inclusive chargeback prevention packages as well as their quick on-boarding system for high risk businesses.

Key Features:

• Chargeback mitigation through tools like Chargeback Shield.
• International merchant account options.
• Flexible payment gateway integrations.
• There is wide support for high-risk industries such as nutraceuticals, travel, and online gaming.

4. PaymentCloud

PaymentCloud specializes in pairing businesses with the right acquiring banks, ensuring approvals for even the most difficult-to-place merchants. They are often praised for their customer support and seamless onboarding process.

Key Features:

• Strong fraud detection tools.
• Dedicated account managers for personalized service.
• Integration with POS systems and eCommerce platforms.
• Support for both low-risk and high-risk businesses.

5. Durango Merchant Services

Durango Merchant Services is widely regarded for providing dependable high-risk merchant accounts and specializes in worldwide ecommerce. They also serve many global businesses who require the ability to support payments in multiple currencies.

Key Features:

• Support for international and offshore accounts.
• Multi-currency processing.
• PCI-compliant payment gateways.
• Fraud detection and prevention tools.

6. Soar Payments

Soar Payments offer high-risk merchant account customized for industries such as guns, nutraceuticals, and e-commerce companies. They provide quick integration and a variety of integrations for seamless performance.

Key Features:

• Specializes in challenging high-risk industries.
• Secure payment gateway with fraud prevention.
• Chargeback mitigation programs.
• Seamless integration with third-party software.

7. Instabill

Instabill has been in business for many years, specializing in offering offshore and international high-risk merchant accounts. They’re best for businesses with overseas customers who require international payment processing.

Key Features:

• Offshore and international accounts.
• Multi-currency support.
• PCI DSS-compliant payment gateways.
• Strong fraud protection features.

8. SMB Global

SMB Global places a strong emphasis on the international high-risk side of merchant accounts, making it a potentially good option for businesses with global reach. They are renowned for their personalized client onboarding.

Key Features:

• Offshore and global payment processing.
• Multi-currency payment support.
• Advanced fraud and chargeback prevention.
• Dedicated account managers.

9. iPayTotal

The next high-risk merchant account on the list is iPayTotal’s solution, which is tailor-made for sectors like gaming, Forex, and adult entertainment, providing specifically designed solutions for some of the highest risk industries.

Key Features:

• Coverage for extremely high-risk industries.
• Fraud prevention and chargeback mitigation.
• Multi-currency support with offshore banking options.
• Tailored payment gateways for niche industries.

10. High Risk Pay

High Risk Pay is a specialized service for high risk merchants only. They are famous for fast account approvals and their secure payment gateways.

Key Features:

• Focus on high-risk businesses.
• Quick application and approval process.
• Reliable fraud prevention tools.
• Integration with multiple payment platforms.

How to Choose the Right High-Risk Merchant Account Provider?

With countless providers out there, how you can find the best one for your business? Consider these factors:

1. Industry Expertise: Make sure that the vendor specializes in your industry.
2. Global Reach: If you plan to expand internationally, consider a provider that offers multi-currency and offshore account capabilities.
3. Fraud Protection: Robust anti-fraud capabilities are imperative for merchants that are at high risk.
4. Integration: Ensure it works with your e-commerce platform or POS system.
5. Customer Support: Around-the-clock support is essential in high-risk industries.

Conclusion

In high-risk industries, choosing the right or switching to the right payment processor is not just something you must do — it’s a strategic decision. There are many companies that couldn’t accept customers’ money, grow, or keep their doors open without a high-risk merchant account. Though each high-risk merchant account provider have different strengths, one thing they all have in common is the power to allow high-risk merchants to safely and confidently do business in today’s digital age.

Picking the right provider boils down to your industry, your global needs, and your risk appetite. With the right provider, businesses can flourish.

FAQs on High-Risk Merchant Account Providers

1. What is a high-risk merchant account?

It’s a type of merchant account tailored for businesses in industries with higher chargeback, fraud, or regulatory risks.

2. Why can’t high-risk businesses use regular merchant accounts?Banks and processors avoid them because of the potential for losses. High-risk providers are experts at controling these risks.

3. What industries need high-risk merchant accounts?

Industries like travel, gaming, CBD, adult entertainment, nutraceuticals, firearms, and e-cigarettes.

4. Do high-risk merchant account providers work internationally?

Yes, many providers offer offshore accounts and multi-currency support for global businesses.

5. How do high-risk providers help with chargebacks?

They use fraud detection tools, monitoring systems, and chargeback mitigation programs to reduce losses.