Merchant Credit Card Processing

We offer accounts directly to Merchants

Almost any type of business must acquire a merchant account because of its many benefits to the business and the added convenience to both the merchant and the customers. But not all businesses can aquire an 'ordinary' merchant account through their local banks. They may be qualified, but with a 'high risk' business what they need is a 'high risk' merchant account. If a retailer can't acquire a high risk merchant account from his local bank, he can try other alternatives such as setting up an 'online' merchant account instead.

What is a high risk merchant account?

A high risk merchant account is a type of account that is specifically for businesses that are associated in high risk dealings. Once these types of businesses get a high risk merchant account, they would be able to accept credit card payments from their customers. Kinds of businesses that need a high risk merchant account are businesses that have high volumes of sales or chargebacks, with a money-back guarantee policy or high dissatisfaction rate from customers.

Below are specific businesses that usually fall in the 'High Risk' category:

• Adoption Services
• Adult Materials/Pornography
• Animals (mail order)
• Attorneys - Bankruptcy
• Audiotext (800 and 900 Numbers)
• Bail Bonds
• Buying/Shopping Clubs
• Calling Cards/Phone Cards
• Cell Phone Airtime
• Check Cashing Services
• Coin Dealers
• Collection Agencies
• Coupon/Gift Certificates
• Credit Card Protection Services
• Cruise Lines
• Dating or Escort Services
• Dating/Matchmaking (e-commerce)
• Door to Door Sales
• Employment Agencies
• Electronic Cigarettes (non-continuity)
• Freight Forwarding
• Fulfillment House
• Gambling/Fantasy Leagues
• Horoscopes/Fortune Telling/Psychics
• Illegal Products
• In Home Computer Hardware/Software Sales or Service
• Import/Export
• Infomercials
• Investor Services/Opportunities/Clubs
• Lottery/Raffles
• Male/Female Enhancements (creams, pills, etc)
• Membership Clubs/Organizations
• Modeling Agencies
• Nutritional Supplements/Vitamins/Herbals/Pseudo-Pharmaceuticals
• Online Auctions/Online Malls
• Prize Giveaways
• Products with Unreasonable Guarantees/ Gimmicky Products
• Real Estate Seminars
• Seminars (MOTO and e-commerce)
• Software Downloads
• Sports Forecasting
• Stamp Dealers
• Talent Agencies
• Telemarketing Services (inbound and outbound)
• Telephony Services (calling cards, long distance, etc)
• Tenant Screening Services
• Ticket Sales
• Timeshares
• Travel Agencies/Tours/Clubs/Charters (booking UNDER 3 months out)
• Used Car Dealers
• Warranty Programs
• Weight Loss Centers
• Wire Transfer/Currency Services
• Airlines
• Credit Repair Services
• eCommerce Continuity (usually comes in vitamins, nutricueticals, e-cigarettes)
• Future Fulfillment (over 3 months)
• Debt Restructuring / consulting
• Mortgage Brokers/Reduction Services/Refinancing
• Multi-level Marketing/Pyramid
• Non-FDA Approved Supplements

Setting up a high risk merchant account

High risk businesses may have a hard time finding a merchant account provider for their business' credit card processing needs. That is because most banks or other financial institutions are now careful of giving merchant services to businesses. This is due to the high risks of frauds from credit cards or other problems that involve in high risk deals. Merchant account providers may have to look at the length of time the applicant is engaging in the business, including his chargeback history. If an applicant has very low chargebacks and has been in the business for a long time, the provider would likely give the applicant a merchant account. It will also take several weeks for a high risk merchant account to be approved.

Setting up a high risk merchant account may be a bit costly than an ordinary merchant account simply because it has higher rates in credit card processing. Rates or fees vary though from one provider to another. The good part is that high risk merchant account providers don't require their applicants to give an initial security deposit for their accounts.

Benefits of a high risk merchant account include acceptance of almost all types of major credit cards from customers, a 24/7 customer support, real-time credit card processing, multicurrency transactions, and the holder may have some chances for tax benefits. If a retailer would not be able to acquire high risk merchant account in any domestic bank or account provider, the vendor may have to opt for an 'online' high risk merchant account or a third party card processor.