High-Risk Merchant Account at Highriskpay.com: A Complete Guide

Getting a high-risk merchant account to accept online payments is challenging but critical for ecommerce success. Highriskpay.com understands this firsthand with over 20 years of experience specializing in affordable and fast-approved merchant accounts for high-risk industries without traditional bank support. Their ability to tap into an extensive global network of specialized payment partners enables customized solutions for virtually any business type or online sale model to start taking debit/credit cards right away. By leveraging Highriskpay’s scalable technology, protection tools, and dedicated account management, even the most plagued “high-risk” merchant can safely expand into new markets while avoiding punitive fees and being ahead of the competition.

What is a high-risk merchant account?

A high-risk merchant account is a specialized financial service that enables businesses with higher risk factors to accept online payments. These industries tend to have elevated risks of fraud, chargebacks, or legal issues.

Why do you need one?

High-risk businesses often need help to get approved for payment processing or face higher fees and strict account limitations from traditional processors. A high-risk merchant account provides easy approvals, competitive rates, and customized solutions.

How can Highriskpay.com help you?

Highriskpay.com has over 20 years of experience providing high-risk merchant accounts. We offer fast approvals, low fees, chargeback prevention tools, and 24/7 support to thousands of online businesses globally.

What is a High-Risk Merchant Account?

A high-risk merchant account functions like a standard merchant account but is tailored for industries classified as high-risk by banks and processors due to factors like:

• Higher fraud and chargeback rates
• Increased risk of legal issues or compliance violations
• Strict governmental regulations

Some common high-risk industries include:

• Adult entertainment
• CBD and hemp
• Cryptocurrency
• Debt collection services
• Essay writing services
• Firearms and weapons
• High ticket sales
• Multi-level marketing
• Nutraceuticals
• Online gaming and gambling
• Online pharmacies
• Travel and ticketing

Many traditional credit card processors avoid high-risk industries because of the potential fraud, chargebacks, and non-compliance costs. As a result, high-risk businesses need help to get approved for payment processing or face unfavorable account terms.

A high-risk merchant account helps bridge this gap by connecting these businesses with specialized banks and processors that understand their unique needs and risks.

Why Do You Need a High-Risk Merchant Account?

Access businesses need help to accept payments and grow to be able to access merchant services. The consequences of not having a high-risk merchant account include:

• Lost sales and customers from lack of payment options
• Cash flow issues from an over-reliance on checks, wire transfers, or crypto payments
• Difficulty marketing and expanding globally due to payment processing limitations

On the other hand, the wrong merchant account can seriously impact operations and profitability. Watch out for providers that:

• Charge expensive monthly fees or account minimums
• Impose low monthly processing volume caps
• Require lengthy holding periods on funds
• Enforce high rolling reserves
• Provide poor customer service and support

The proper high-risk merchant account provides the payment flexibility and reliability needed to operate smoothly. Benefits include:

• Fast and easy application approvals
• High approval rates for all business types
• Access to domestic and international payment processing
• No hidden account fees or monthly minimums
• Funding is available within 24-48 hours
• Dedicated account management

How Can Highriskpay.com Help You?

Founded in 1997, Highriskpay.com understands the payment processing challenges facing today’s online businesses. We’ve helped thousands of merchants across hundreds of high-risk industries get approved for payment solutions quickly and affordably.

As an established direct processor, we work directly with a vast network of domestic and offshore banks and processors. This enables us to find customized solutions for any business model or risk profile. Additional benefits include:

99% Approval Rates

Our extensive backend resources allow us to approve 99% of applicants within one business day, regardless of credit history or processing volume. New businesses are welcome.

Low Cost Processing

We offer straightforward pricing with transaction fees starting at 2.9% and no unnecessary monthly payments. Higher discounts are available for high-volume merchants.

$0 Application & Setup Fees

Applying for a merchant account through Highriskpay.com is 100% free for all business types with no obligation. Account setup and integration support are always complimentary.

Fast Funding

Access to multiple top-tier domestic and international banking partners allows us to offer 24-48-hour funding on approved transactions.

Chargeback Prevention Tools

We provide powerful chargeback mitigation tools like Merchant Source Detect (MSD), Velocity Filters, and Address Verification Service (AVS) alongside our proprietary Orbital Savings technology to stop unwanted chargebacks before they happen.

Responsive Support You Can Trust

Our U.S.-based support team is available for consultation seven days a week via phone, email, and live chat. Our expertise spans multiple industries and decades.

How to Apply at Highriskpay.com

Applying for a high-risk merchant account only takes a few minutes at Highriskpay.com. Follow these steps:

1. Visit Highriskpay.com and click “Get Started”
2. Select your business type and fill out the online application
3. Provide your contact information, business details, and processing history
4. Complete identity verification if prompted
5. Wait for an immediate decision on your application by email
6. Login to your account dashboard to view approval details

One of our dedicated risk analysts reviews every submission by hand to match applicants with the perfect payment solution from our extensive network of global banking partners.

We’ll contact you directly if additional information is required to process your application swiftly and smoothly.

Requirements and Documents for a High-Risk Merchant Account

While required credentials can vary between industries, these are the most common:

• Federal tax ID documents like an EIN confirmation letter
• Filled out bank change form and voided business check
• Business processing statements from the last 3-6 months
• Other documents as needed (business licenses, articles of incorporation, etc.)

We collect this information to confirm your identity and assess your financial, operational, and risk management processes during underwriting.

Strong applicants convey:

• Product and service legitimacy
• Advertising and marketing compliance
• Established protocols for security, dispute resolution, and customer service
• Low to moderate chargeback ratios below 2%

Submitting thorough documentation upfront helps facilitate quicker approvals and better terms.

What are the fees for a High-Risk Merchant Account at Highriskpay.com?

Unlike other providers, Highriskpay.com does not inflate baseline fees with random add-ons to drive up costs. Our pricing is transparent with no hidden monthly fees and predictable per-transaction charges, including:

• Interchange-Plus Pricing – Cost per transaction starts as low as 2.9% plus $0.25 per settled transaction
• Interchange fees (wholesale processing costs set by card brands)
• Small per transaction processing fee
• $25 chargeback protection fee (if needed)
• No Gateway Fees – Includes free payment gateway valued at $10-25 Monthly
• No PCI Compliance Fees – Includes free tools to simplify secure compliance
• No Monthly Minimums – There are no mandatory minimum processing volumes
• Low Initial Reserves – Typically 0% – 5% released after six months

Final transaction rates depend on card type, average order value, and more. Qualified higher-volume merchants also receive custom-tiered pricing.

How to Integrate Your High-Risk Merchant Account with Your Website or Shopping Cart

Integrating your high-risk merchant account offers multiple options for accepting payments through:

1. A Payment Gateway – Requires some development work to install. It sits between your online cart and processor to manage transactions securely. Offers extensive tools for analysis and reconciliation.
2. A Hosted Payment Page – No coding necessary. The processor creates a customizable order page on their secure servers to capture payments. Seamlessly redirects customers back to your website after checkout.

For detailed integration guides and tutorials covering platforms like WooCommerce, Shopify, Magneto, Wix, and more, visit our Support Center or speak to an Integration Specialist.

Key Steps Include:

• Activating your payment gateway/page through our provider portal
• Installing necessary API keys and credentials
• Customizing any branding, fields, and preferences
• Running test transactions to confirm everything is working

Let your Account Manager know if you need help selecting the ideal integration solution for your site, shopping cart, or billing management software.

Managing Your High-Risk Merchant Account Account Management

Your online merchant account dashboard offers robust tools to organize vital account details in one centralized hub. Access and monitor:

• Processing activity in real-time
• Payment reconciliation
• Financial reporting
• Gateway and system configuration
• Support ticket creation
• Special account alerts and notifications

Run reports on metrics like top referring URLs, sales by payment method, average order values, and more. Export the raw data to plug into other business intelligence tools.

Save time balancing your books with detailed transaction histories and batch reporting. Configure rules and schedules for critical account alerts sent to your inbox, like large deposits or blocked international orders.

You can also connect to customer service software like Zendesk for a complete 360-degree view of your financial and support operations in one dashboard.

Preventing and Reducing Chargebacks on Your High-Risk Merchant Account

Chargebacks tap directly into your bank account as processors withdraw the reversed transaction amounts plus hefty fines. Too many also lead the bank to close your account.

Common triggers include:

1. Failed delivery of products/services
2. Fraudulent transactions
3. Errors in processing

Implement these chargeback prevention best practices:

• Provide Exceptional Customer Experiences
  • Invest in quality products, clear communication, and fair policies
• Reduce Confusion and Disputes
  • Confirm order details at checkout and set proper expectations for fulfillment
• Follow Security Best Practices
  • Maintain compliant and secure payment processing protocols
• Leverage Technology
  • Use tools for customer authentication, duplicate order detection, and blocking known chargeback sources
• Monitor Performance Continuously
  • Track dispute ratios KPIs monthly to catch issues early

Highriskpay.com also offers proprietary Orbital Savings technology to stop unwanted chargebacks before they reach the bank using predictive analytics.

How to Resolve Disputes and Refunds with Your High-Risk Merchant Account

Despite best efforts, unhappy customers can still request refunds or file disputes. Our integrated Dispute Resolution System helps you handle them smoothly via:

1. Real-Time Chargeback Alerts – Initiate refunds before the bank claws back money.
2. Powerful Representment Tools – Submit documentation to challenge illegitimate chargebacks.
3. Dedicated Analyst Support – Experts help assemble compelling evidence to protect your funds.

Practical strategies for avoidance and recovery include:

• Post Clear, Accurate Business Policies
  • Reduce assumptions at checkout. Be transparent on shipping, returns, etc.
• Resolve Issues Directly When Possible
  • Offer refunds through your merchant account before it becomes a chargeback.
• Only Dispute Valid Cases
  • Conserve resources and avoid penalties. Don’t fight losing battles.
• Prepare a Chargeback Strategy
  • Document internal policies and have resources ready for compelling representation.

Taking a customer-centric approach focused on education and service quality helps dramatically. Leverage your merchant account tools and expertise for seamless resolutions when disputes arise.

Growing Your Business with a High-Risk Merchant Account

A high-risk merchant account delivers the payment stability and flexibility needed to drive growth by:

Expanding Your Market Reach

• Accept payments from nearly all countries and card brands
• Tap into lucrative opportunities that other providers prohibit

Increasing checkout conversion

• Offer preferred local payment methods
• Reduce failure points with tokens, digital wallets, and 1-click payments

Improving operational efficiency

• Automate reconciliation with smart terminals and recurring billing
• Get reporting insights not available from traditional processors

Attracting More Customers

• Build trust by displaying prominent card brand logos
• Confidently drive payment volume, knowing your account can handle it

Maximize the potential with targeted upgrades like:

• International payment processing in 100+ currencies
• POS and mobile card reader bundle for trade shows or pop-ups
• Recurring billing for subscription models and memberships
• New site integrations and custom front-end payment form builds

Contact your dedicated account manager to explore customized solutions perfectly aligned with your growth roadmap.

Contacting Customer Support and Account Management at Highriskpay.com

Highly trained payments experts are available via:

Phone – Call (800) 956-1277 whenever assistance is needed.

Email: Reach out to support@highriskpay.com for general inquiries or sales@highriskpay.com to discuss new solutions.

Chat: Chat live on our website with specialized agents.

Help Portal: Search our extensive knowledge for self-service troubleshooting.

Social Media: Engage with us @Highriskpay on Facebook, Twitter, Instagram and LinkedIn.

Your dedicated account manager proactively monitors activity to suggest optimizations and provide guidance tailored to your operations. Identify improvement areas through periodic account reviews.

We know payments, compliance, underwriting, technology integrations, and more. Leverage decades of experience supporting online merchants anytime a question pops up!

Canceling or Switching Your High-Risk Merchant Account at Highriskpay.com

We strive for long-term partnerships but understand when business needs change. To cancel or change providers, simply:

1. Please notify us of your requested cancellation or migration date by phone or email. This allows us to reconnect any outstanding issues ahead of closing the account.
2. Process any pending refunds or settlements before the termination date.
3. Return or purchase leased equipment like credit card terminals to avoid final fees.
4. Please fill out our cancellation form, available directly within the merchant portal.
5. Cut off account access to retire passwords, gateway credentials, and access keys. Remove any integrations or payment portal codes from websites.

Accounts canceled within the first six months may carry a $350 early termination fee. We can provide documentation detailing the status of your invoice upon request. Those with an outstanding balance must settle it directly using the contact info on the final statement.

Thank you for choosing Highriskpay.com! Let us know if you have any other questions about canceling or switching providers.

Conclusion

Getting approved for reliable and affordable payment processing continues to challenge online merchants across higher-risk sectors. Yet the need for merchant accounts spells long-term viability and growth trouble.

Highriskpay.com offers customized high-risk merchant account solutions approved 99% of the time, featuring transparent pricing and stellar 24/7 support. Our expertise stems from over 20 years of experience helping businesses securely sell products and services online.

Learn more about accepting payments quickly with top-tier fraud protection tools and responsive customer service tailored to your niche industry needs. Contact our team today to start growing your business faster with payment flexibility you can depend on!

Frequently Asked Questions

Do you support online pharmacies or other specific industries?

• Highriskpay.com harbors deep expertise around key verticals like online pharmacies, nutraceuticals, CBD, cryptocurrency, and telemedicine. Comprehensive solutions cater to each industry’s unique needs and chargeback risks.

What information is required to get approved?

We streamline requirements to make the process as simple as possible:

• Personal info – Legal names, ownership details, contact info
•  Business details – Entity documentation, website URLs, processing volume, etc.
•  Bank statements – 3 months of business statements
•  Existing processing statements – If currently accepting cards

With this info ready, we can expedite underwriting and approvals.

How long does approval take?

• Our application takes just 20-30 minutes. Then, within one week, we complete preliminary underwriting. After submitting due diligence docs, accounts usually activate within 2-4 weeks. Approval times depend on the complexity of diligence requirements.

What payment documentation is needed?

Required documents include:

• Voided business check
•  Bank letter listing business name and full account details
•  Valid government-issued ID for each owner/officer
•  Additional entity documents depending on corporate structure

We provide a detailed checklist after the application outlining precisely what to submit.

Can startups or businesses without credit get approved?

• Absolutely. We specialize in helping early-stage merchants launch card acceptance securely. Personal credit scores do not restrict approvals. All applications receive in-depth individual review.

What tools help avoid chargebacks and stay compliant?

Highriskpay.com proactively protects merchants with the following:

• Sophisticated pattern recognition to catch fraud before it happens
•  Robust chargeback monitoring, alerts, and representations
•  Guidance configuring compliant checkout flows
•  Access to cybersecurity and tokenization

The right combination of human expertise and intelligent technology drives low-friction growth.

Do you offer integrated solutions beyond card processing?

• Yes! Highriskpay.com operates as an accurate payments facilitator with everything from merchant accounts to payment gateway services to global disbursements accessible within unified platforms. Dynamic solutions grow alongside clients.