Industries

Businesses need a high risk merchant account for many reasons, but those reasons are not always intuitive. If any of the descriptions below fit your business or the product or services it sells, you may be considered high risk.

• You are in an industry that involves sensitive subject matter. Industries that involve adult content are often deemed to be high risk, regardless of how risqué the products or services you offer may be.
• Your industry is highly regulated. If some or all of the items you sell or promote are highly regulated, you could need a high risk account to process customer payments. Businesses that involve e-cigarettes, nutraceuticals, tobacco, alcohol — even cigar shops — often fall into this category.
• Your transactions are not routine. Credit repair businesses, time-share sales, payday lenders, travel, warranty services and even vacation rental businesses may all require high risk credit card processing services due to issues such as the high risk of chargebacks or cancellations, the handling of sensitive data and/or high transaction value.
• Many of your sales are global, or your business is based overseas. If a high volume of your transactions are made with less common forms of currency, or if your business is based in Russia, Eastern Europe, Panama or the British Virgin Islands, your legitimacy may be harder to verify and your transactional risk hard to assess.
• Most of your sales are not in person. Transactions conducted by phone, fax or online may require a high risk account because the identification of the purchaser and the cardholder/accountholder cannot be verified as it can be during an in-person transaction.
• Your business is new. If your business is just getting started, your lack of a verified financial history may necessitate a high risk account.
• Your credit history could be better. If your business has experienced financial instability or issues managing debt, your business may require a high risk account.

Our experts are well versed in designing merchant solutions that cater to the unique needs of businesses that need high risk payment processing. The Performance Card Service team will work directly with your business to perform an in-depth analysis of the payment solutions and merchant services that deliver the stability your business needs to manage its risk exposure, while giving customers the payment tools they need to purchase.

If you’ve been unable to find a merchant services provider because of the nature of your business, or you simply want to consult with an expert to understand the best ways to leverage a high risk payment gateway for your business, contact us today.

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