High Risk Merchant Accounts for Your High Risk Needs

If you are a new business owner, then it is majorly possible that you are finding it confusing to find the perfect credit card processing company. The possibilities of the confusion increase if you have never come across the term ‘Merchant Account’ earlier in your life. You may come across a number of Merchant Account service providers who offer same type of services, but that is not the reality, in reality each service provider is unique in its own kind. Some specialize in High risk business while some specialize in low risk.

Do not worry about the confusions as the following whole blog is written to help you seek answers for your queries related to a High Risk Merchant Account for your high risk business.

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What are the businesses included under High Risk category?

Businesses like Fantasy Sports, Debt Collections, Firearms, Memberships and subscriptions, Online Dating, Marketing, etc are some of the business included in the High Risk Business category.

What makes my Business a high risk?

There are lot of points taken into consideration for the classification of a business. A business is considered high risk because of following points:

Reputational Risks, High Ticket Size Chargeback’s, Bad Credit score, Recurring Bill Designs, Industry rules and regulations, etc.

What are the benefits of High Risk Merchant Account for my High Risk Business?

Having a High Risk Merchant Account benefits in a multiple ways for a high risk business. Some of the common benefits of High Risk Merchant Account for a High Risk Business are:

1. Low rate of account being frozen then in the aggregate service providers.

2. Long Term Processing Safety.

3. High possibility of Excessive Chargeback.

4. You can continue earning more through various methods of online transactions.

5. The risk to theft and fraud is reduced with a proportional rise in security.

6. Expansion of business won’t be a problem as the earning opportunities become limitless.

Our final suggestion to you is that, please do a proper research for a reputed Merchant Account Service provider and don’t just stick to the first one that comes in your way.

Why is CBD Merchant Account considered High Risk?

The merchant account used in the CBD Oil industry for online payments and transactions is the CBD Merchant Account. The Cannabidiol (CBD) is classified as High Risk Merchant Account. It is very much annoying to accept online payments through debit and credit cards for the CBD business because of its high risk classification.

Now the question arises is that why a business like CBD is considered high risk? There are various reasons that result in the High Risk classification of CBD business.

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The most basic reason is that CBD being manufactured from the hemp plant. The scarcity of CBD also accounts for the classification of the CBD business. The CBD merchants are finding it difficult to get approval for the merchant account.

The High Risk classification of the CBD business also depends on the aspects like low discounts, the size of the business, High chargeback ratio, etc. a business also falls into high-risk category depending on the guidelines of the financial institutions and if the business satisfies the requirements of the institutions. The CBD business is more prone to fraud and duplicity which also pushes the CBD business into the high Risk category. The consumption of CBD products in the US is only allowed on legal prescriptions. These are a few reasons for the High Risk classification of CBD business.

It is very necessary to turn towards a reputed Merchant account provider, for the solution of your High Risk CBD business problems so that you are able to perform credit and debit card processing. The CBD merchants have every right to get information about the best High Risk Merchant Account Services provider with a genuine history.

High Risk Merchant Account Solutions for Online Gambling & Betting Companies

The online gambling and betting industry is undoubtedly one of the biggest and most lucrative markets in the world. Despite the various legal and societal stigmas attached to it, businesses in the industry continue to thrive and grow.

The rapidly growing online and betting market is anticipated to reach a staggering $94.4 billion by 2024 globally showing no signs of slowing down at all. No wonder then new merchants are trying to enter the market and take advantage of the benefits it offers.

Keeping that in mind, new as well as existing betting merchants need to understand the growing demands of their customers as well as the market in general. And on top of their priority should be changing the way payments are received.

Especially, as a merchant operating online business, integrating secure payment gateway to accept credit/debit card safely of your players should be your top concern.

Apply for a Instant Approval High Risk Merchant Account

How to obtain High risk merchant account solutions for Online Gambling & Betting?

Online gambling and betting are risky business ventures which makes securing a good merchant account provider a bit tricky and difficulty.

It can be often challenging for betting merchants since the industry comes under the high risk umbrella tag due to market perception and high chargebacks making it important for the business to work with the right kind of merchant accout provider.

If you are wondering what options do you have as a betting merchant, do not fret! Due to the increasing market demand and lucrative business opportunity, many reputed merchant account processors have come up to offer quality high risk merchant account solutions for online gambling and betting businesses.

Now, increase your business revenue and expand your business beyond your reach by employing a range of payment methods that will help your business establish in new markets and also reducing currency conversion rates too.

A player needs real-time and a quick way to process transactions. High risk merchant account for online gambling and betting will fine tune your payment process and help in customer loyalty as well as conversion.

With quality high risk merchant account solutions, a merchant can easily and smoothly process high volume transactions without any delay during important competitions or major meets.

Most importantly, online fraud prevention tools equipped with high risk merchant account solutions will ensure player safety by reducing frauds and chargebacks.