At Performance Card Service, we recognize that merchant services are critical to all types of businesses. Our information systems are designed to empower businesses that require a high-risk merchant account, and can support customer-facing functions such as high risk-credit card processing. Our experts have years of experience offering merchant services solutions to business owners who fall into high-risk categories.
Is My Business Considered High-Risk?
There are many reasons businesses may need a high-risk merchant account, but which ones fall into that category and why isn’t always intuitive. If 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 may be inherently considered high-risk, regardless of how risqué the products or services you offer may be.
- Your industry is highly regulated. If the items you sell or promote are subject to legal matters and regulatory standards, you could need a high-risk merchant account to process customer payments. Businesses that involve e-cigarettes, nutraceuticals, tobacco, alcohol — even cigar shops — may fall into this category.
- Your business involves money. 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 both the transaction amount and the sensitive data that accompanies the product.
- 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 your business is based in Russia, Eastern Europe, Panama or the British Virgin Islands, your legitimacy may be harder to verify.
- A high volume of your sales is not in person. Transactions that take place by phone, fax or online may require a high-risk merchant account because the identification of the purchaser and the cardholder/accountholder cannot be verified as it is during an in-person transaction.
- Your business is new. If your business is just getting started, your lack of verified financial history may demand a high-risk merchant account
- Your credit history could be better. If your business has had some financial instability or issues managing credit, a less-than-stable credit history may deem your business as a candidate for a high-risk merchant account.
Here are some of the verticals we specialize in assisting:
- Adult Content and Products
- Bad Credit
- Business Opportunity
- Collection Agencies
- Continuity/Free Trial
- Credit Repair
- Debt Consolidation
- E-Cigarette and E-Juice
- Escort Services
- Financial Services
- Firearm Dealers
- Gentlemen’s Clubs
Our experts are well versed in designing merchant solutions that cater to the unique needs of businesses that need a high-risk merchant account. 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 merchant account for your business, contact us today.
Ready to Apply for a Merchant Account?