We Approve High Risk Merchant Accounts

Signature Payments has been providing high-risk merchant accounts to businesses for over 20 years. As experts in the high-risk space, we have a team of in-house specialists to help you get your high-risk merchant account approved.

Understanding High Risk

What is a High-Risk Merchant Account?

Businesses that are more prone to chargebacks are generally considered higher risk. There are many factors that drive this risk and certain industries tend to have a greater propensity for chargebacks. As a result, there are additional rules and requirements, many of which are established by the Card Associations (Visa and MasterCard) and/or by the Member Banks associated to these business types.

This often makes it challenging for merchants to find a payment processor and to get approved for a “high-risk” merchant account. Signature Payments is one of the few payment companies that specialize in providing merchant accounts to businesses in “high-risk” verticals such as: adultalcohol and tobaccofire armsbail bonds and more. In fact, we have been providing high-risk merchant accounts to businesses for almost 25 years. Throughout that time, we have gained extensive experience and invested a tremendous amount of resources into developing proprietary systems, processes, and bank relationships that allow us to approve and support high-risk merchants.

What Makes a Merchant Account High Risk?

Defining a high-risk merchant takes more than simply selecting an industry and classifying all the businesses in it as a higher risk. From a payment processing standpoint, there are several factors that might put businesses in a special risk category, and industry is only one part of the equation. Specifically, businesses may be classified high-risk by a merchant service provider if the business model involves a higher likelihood of:

  • Fraud
  • Chargebacks
  • Recurring billing
  • Different currencies

Each of these factors can make payment processing more complicated or costly, especially in the case of fraud or chargebacks. In addition, business owners with bad credit or a limited credit history may also be labeled high risk, even if their business isn’t in a high-risk industry. If your business falls into one or more of these categories, it’s important to know that you have options. Signature Payments is here to help.

We serve industries that operate in the high risk space, including (but not limited to) alcohol/tobacco, firearms, online dating, digital goods and subscriptions, bail bondsgamblingtravel, adult, telemedicine, and seminar/coaching.

What Separates Signature Payments From Other High-Risk Service Providers?

Since 1997, we have been helping businesses stay current with the latest payment processing requirements of their clients. Technology changes quickly, and you want to make sure that your business can continue to meet customers where they are. By contracting with Signature Payments, you can get an expert team that is here to help you set up your system quickly, take payments seamlessly, and ensure that you are ready for whatever lies ahead. Since we treat our customers with respect, you will know from the first step that we can handle your concerns efficiently and effectively.

What Distinguishes a Merchant Account for High Risk?

A merchant account for a high-risk business tends to be more difficult to obtain, and it typically costs more to maintain. As a rule, you can expect higher fees for opening an account, processing payments, handling chargebacks and terminating your contract early. In many cases, you’ll need to sign a longer contract and keep a larger cash reserve. You may also face stricter limits on your transaction size.

As a benefit, you may get the ability to process payments coming from anywhere in the world, with the same convenient point-of-sale and on-the-go processing solutions that other businesses have. Many companies don’t have an account that allows them to handle payments from international customers. For high-risk payment solutions providers such as Signature Payments, it’s one of our best features.

What Benefits Does Signature Payments Offer for High-Risk Clients?

If you are wondering how you can keep up with the needs of your customers and ensure that the payments keep rolling in according to plan, you may be pleasantly surprised by the benefits of our high-risk merchant account services. At Signature Payments, we treat each application as a unique opportunity to help a business grow and thrive.

We recognize that businesses need secure payment processing options and that their needs vary significantly based on size, products and services, and service area. We aim to make our processes simple, easy to understand and customizable. We provide solutions that allow you to take payments anywhere, use software that works with systems you already have, and monitor your business in real-time. When you need assistance, we’re on hand to help you get back on track.

Ready to Accept Payments Anytime, Anywhere?

Why Choose Signature Payments?

With Signature Payments You Get…

Easy Sign-Up

Our application can be accessed online for quick and easy completion in just a few minutes.

Fast Approvals

Our application review process is quick and easy so you can begin accepting payments in no time.

No Hidden Fees

Our team will work hard to get your account approved at the lowest possible rates with no hidden fees or extras.

Flexible Solutions

We partner with multiple banks and offer domestic and offshore solutions for the flexibility you need.

Frequently Asked Questions

Common Questions About Our High Risk Merchant Accounts

How do I know if I’m a high-risk business?

High-risk businesses involve certain industries with a higher rate of chargebacks, fraud, monthly billing and international payments. You may also fall into this category if you have bad credit or other factors.

What is a high-risk payment gateway?

A high-risk payment gateway is a method for high-risk businesses to accept credit card payments. Usually, you integrate the system with your website so that you can take payments in the forms that your merchant service provider offers. Payment gateways can be classified by a service provider as high risk or low risk, depending on the merchant.

What distinguishes a high-risk merchant service provider?

A service provider for high-risk merchants is typically willing to accept a higher degree of risk, usually in the form of higher fees and stricter contract requirements. In exchange, you get a reliable high-risk credit card processing system and tools to keep your business thriving.

Do you accept applications from all high-risk industries?

We accept applications from many high-risk industries, including memberships, firearms, eBooks, dating, adult, coaching, digital goods and telemedicine. If your industry isn’t on this list, contact us for more information.

How do you handle fees?

We charge different fees for service, some of which support our service and others that are required by the bank issuing the credit card. You will likely have a monthly minimum fee to start and processing fees, as well as interchange fees. You can view your fees in your monthly statement provided by Signature Payments.

How do I apply for a merchant account?

You can fill out a convenient form on our website to apply for a merchant account. We may request additional information and documentation while reviewing your application, to determine if you meet our requirements.

Can I apply for a merchant account with a new business?

Startups are often classified as high-risk based on their industry, but that doesn’t mean you cannot qualify for a merchant account. With our extensive experience in the industry, we can often approve applications that other providers would decline.

Do I need a U.S. address to apply?

Although we can help your business accept online payments from virtually anywhere, your business does need a U.S. address and an account with a U.S. bank in order to qualify.

Do I need to be a formal business to apply?

In many cases, a business license is a requirement for our team to approve your application. In certain instances, sole proprietors may be able to qualify with personal bank accounts.

Will you check my credit during my application?

Checking your credit is one part of the application process, although it is not the only deciding factor. Along with your credit, we consider your business type, history and other elements to determine your qualifications.

Do you need bank statements to approve my application?

We review business bank statements as part of our application review process. If your business is new or you haven’t accepted payments before, we are happy to talk with you about alternative forms of verification.

What if I have bad credit?

Bad credit often gives you fewer options and higher fees when you sign a contract with a merchant service provider. Although we cannot guarantee approval in all cases, we will consider applicants with imperfect credit.

Do I need a website to apply for a merchant account?

In order to offer products and services for sale in an eCommerce arrangement, you will need a website. Our solutions are meant to integrate seamlessly with other software or hardware that you use to maintain a shopping cart, handle point-of-sale transactions and more.

What payments can I accept?

As a service provider offering flexible solutions, our payment processing options run the gamut, including credit cards from the most popular networks, checks, debit cards and more.

Why should I sign up with Signature Payments?

Signature Payments has nearly 25 years of experience, which has helped us build a long list of partnerships in the banking industry. This allows us to offer comprehensive payment solutions to a broader range of clients.