Top 5 High Risk Merchants that Need Payment Processing
Payment Processing for High Risk Merchants
Many businesses often don’t even realize that they are a high risk merchant 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 Signature Payments to provide them with high risk credit card processing.
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High Risk Merchant List Industries
1. Nutraceutical Merchant Accounts
First, on the high risk merchant list is nutraceuticals. Signature Payments 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 Signature Payments. 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, Signature Payments 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, Signature Payments 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 Signature Payments, 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.
It can be a challenge to find a suitable adult merchant account for your adult business because it is considered high risk. However, with an adult merchant account from Signature Payments, you can qualify for an account with one of our domestic or international acquiring banking partners at a competitive rate. Whatever form of entertainment your business offers, Signature Payments likely has a solution for you. We can get you processing payments in as little as 3 business days.
3. Vape and E-Cig Merchant Accounts
Third is vape and e-cigarettes. Signature Payments 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 Signature Payments, 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.
E-Cigarettes and Vapes are considered to be high risk in the online merchant account world. As a result, credit card processing solutions can be difficult to find. The vaping industry has propelled into a billion-dollar industry because of demand. Expand your market share with an online presence. Signature Payments has multiple options and makes it simple to obtain a vape merchant account in as little as 48 hours.
4. Subscription Box Payment Processing
If your company has subscription billing, then you’re a contender for the high risk merchant list. Not to worry, when you need a company to process payments for a high risk subscription box merchant account, Signature Payments 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 Signature Payments, 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.
Are you having trouble finding a reasonable subscription box merchant account for your ecommerce website? Subscription boxes are considered to be high risk in the online merchant account world because they often use recurring billing methods. So credit card processing solutions can be difficult to find. The subscription box industry is growing fast. Expand your market share with an online presence. Signature Payments has multiple options for you and makes it easy to obtain a subscription box merchant account.
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:
- Airlines and Booking
- Auto Warranties
- Background Checks
- Bad Credit
- Business Consulting
- Business Opportunities
- CBD Oil
- Coins and Collectibles
- Continuity Billing
- Credit Monitoring
- Credit Repair
- Debt Collections
- Fantasy Sports
- Gentleman’s Clubs
- Government Grants
- Health and Beauty
- Hight-Ticket Coaching
- Male Enhancement
- Online Gaming
- Pawn Shops
- Pay-Day Lenders
- Skin and Hair Care
- Subscription Boxes
- Web Design and SEO