Best High Risk Merchant Account that won't reject

Acquiring a good merchant account when your business is deemed "high risk" seems like a pipe dream. Conventional payment processors will reject solicitations outright without reason, infuriating business owners and preventing them from accepting credit card payments. At Trinity Consultings, we have assisted scores of the best high risk merchant account in securing payment solutions that actually accept their applications and facilitate their business growth.

Understanding High Risk Classification

Prior to discussing solutions, let's look at why some businesses are considered high risk. Payment processors consider such factors as industry type, chargeback ratios, credit history, volume of processing, and average ticket size. Examples of industries typically considered high risk are hemp, entertainment, nutraceuticals, debt collection, travel services, gaming, firearms, and subscription services.

High risk classification does not imply that your business is illegitimate—it simply implies that average processors consider your business more at risk for chargebacks, fraud, or compliance issues.

Best High Risk Merchant Account Providers

Trinity Consultings

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Durango Merchant Services

Durango is known for their industry expertise and more than 95% approval rates for authorized high risk merchants. They specialize in nutraceuticals, and e-commerce vendors with difficult processing records. They take pride in having an underwriting staff that uses a consultative approach, collaborating with sellers to obtain accounts for long-term success. Rates normally are between 3.5% and 6% based on the industry and risk parameters.

MerchantBroker (EMB)

EMB specializes in processing businesses that others shy away from. They process more than 170 high-risk verticals and approve the vast majority within one business day. Their advantage is offshore processing capacity and multiple banking relationships for account liquidity. EMB offers free consultation services to get your application perfect before submitting.

PaymentCloud

They are known for their clear rates and exceptional customer service, PaymentCloud is a high-risk e-commerce merchant expert. Aggressive rates start at 3.95%, and committed account representatives are on hand who comprehend the unique demands of high-risk company. Their technology platform includes advanced fraud protection and chargeback management features.

Key Features to Look For

Multiple Banking Relationships

The best high risk processors have over one acquiring bank to hold onto. Redundancy protects your business in the event a bank terminates high risk programs. Redundancy also provides backup processing during holiday sales.

Industry Expertise

Choose processors that have experience with your specific industry's challenges and compliance requirements. Industry experience translates to better underwriting decisions, accurate reserve settings, and ongoing support.

Transparent Pricing

Steer clear of processors who charge surprise fees or undefined pricing models. Real high risk processors share full rate sheets and detail all charges initially. While higher-risk processing is more expensive than standard accounts, pricing must be competitive and open as well.

Chargeback Protection Programs

High risk merchant Accounts require strong chargeback prevention and management capabilities. Seek out processors that offer real-time fraud detection, chargeback alerts, and representment capabilities to reduce disputes and their related fees.

Application Strategy for Success

Prepare Detailed Documentation

High risk applications require detailed documentation. Collect business licenses, financial reports, processing history, website shots, and compliance certificates. Detailed documentation signifies professionalism and reduces approval timelines.

Be Frank About Your Business Model

Honesty during the application process is essential. Processors will notice any exclusions during underwriting, which will result in automatic rejection. Explain your business model, customer acquisition methods, and refund policies openly.

Point Out Favorable Aspects

Highlight any conditions that improve your risk profile, including robust cash flow, low chargeback ratios, settled customer base, or compliance certification. They can counterbalance negative industry prospects.

Working with Trinity Consultings

Trinity Consultings utilizes its high quality links with the best high risk merchant account processors to guarantee that you receive the highest possible approval. Our consulting service entails:

• Risk analysis and processor matching

• Application improvement and document checking

• Rate negotiation on your behalf

• Ongoing account management and customer service

We recognize that payment processing is a cornerstone of your business success. Our team works with high intensity to create solutions that not only approve your application but also bring the stability and functionality your business needs to succeed.

Don't let payment processing issues hold your business back. There is a suitable high-risk merchant account provider for your business—it's simply finding the correct one through solid preparation, strategic submission, and professional consultation.

Ready to accept secure payment processing? Call Trinity Consultings today and reap the benefits of a free consultation and let us lead you to a high-risk merchant account that won't decline your business.