It’s practically not possible for online shopping merchants to operate without receiving payments from credit or debit cards. Before you can accept “plastic,” you have to use a payment processor who acts as a liaison between you, banks, and credit card networks. Many financial service providers do business exclusively with low-risk merchants, who they consider as a low risk investment. That means businesses considered high-risk will have a limited selection of potential payment services to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.

Make sure you ask about all other fees upfront as well: Fixed transaction fees – are they charged for declined transactions as well, are there any contract cancellation fees, minimum monthly invoice, how much is the setup fee and if it has to be paid upfront, is there any additional annual and monthly fee, how much will you be charged for every statement and bank wire, and very importantly what are the chargeback, retreival and refund fees. You may know that you will get your funds but you also need to know when exactly. Every credit card processing provider and acquiring bank will have different remittance turnaround times. It mainly depends on your risk category and the type of merchant account setup – for example, a direct MID setup where acquirer is paying you directly means less time because there’s no need for funds to reach the Processor company first and then be forwarded to your bank account.

Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving high risk business types. This includes CBD and Kratom businesses. The company’s products and services include point-of-sale solutions, mobile phone swipers, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances. PaymentCloud provides a dedicated account rep to all new merchants for the life of the account. The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchant’s business type and processing history.

High risk moto merchant account in 2019. This is a hot topic as more countries open up to new products. High-risk merchant accounts are a group of finance services that offers businesses to accept card payments from clients. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face limited options in processors, plus higher fees and strong binding contracts. Being labeled as high-risk sounds terrible. But in some cases, it can be your best option. We have been discussing about multiple properties of the high-risk merchant account business for many months and have almost sure touched on most, if not all, of the most deciding issues. Here are some more guides on best high risk merchant account. Read extra details at High risk merchant account instant approval.

Focusing primarily on high-risk e-commerce businesses, eMerchantBroker claims they approve 99% of all account applications. The company has a positive reputation for transparent customer service and reliable support. We did transactions on all of the high risk credit card processors, to be able to compare and a very good pick is iPayTotal. They cover all business types, have a huge experience in the field, fast customer support and low fees.

Standard terminal leases run for four years and are noncancelable, meaning you’ll have to buy out the remaining months of your lease if you close your account. Note that some providers offer a “free” terminal with your account. Be wary of this and read the fine print. While this offer might work out if you only need one terminal, you’ll often end up paying a higher monthly account fee (i.e., the terminal isn’t really free), and you could also be locked into a long-term contract with a hefty early termination fee. Don’t accept a magstripe-only card reader!

iPayTotal can help you in understanding and create your high-risk merchant account and guide you through the underwriting procedure followed by the bank while onboarding an application. Regardless of whether you require a start-up merchant solution, a subscription account, a pharmacy merchant account, a travel merchant account or set up an offshore merchant account, iPayTotal can help you set up with lowest rates and no hassles for your high-risk businesses.

IPAYTOTAL LTD
Company Address: 60 Windsor Avenue London, England SW19 2RR
Company Website: https://ipaytotal.com/.
Support Email: support@ipaytotal.com
UK Tel:+44 800 776 5988
US Tel:+1 845 215 4017
Company # 11357725