High Risk Merchant Account | Best High-Risk Merchant Account - 5starprocessing
What Is a High Risk Merchant Account?
High-risk industries are industries that are prone to fraudulent sales and chargebacks.
These industries need merchant account where you can accept payments.
It can be used by these businesses to process credit card transactions.
Why High Risk Merchant Account is Important?
A high-risk merchant account is very important to receive payments.
Additionally, companies that have over $20,000 in sales per month, average credit card sales of $500 or more, or a business that has a bad credit history may also need a merchant account.
Also, merchant account may have higher fees and different terms than a traditional merchant account as well.
Thereafter, there is no need to worry if you fall into these categories, as there are still plenty of excellent merchant providers available.
Which Industries Need High Risk Account?
Companies that experience a high number of chargebacks and fraudulent sales are at high risk.
These include eCommerce sites, events, travel, internet services, and more.
Below is a list of industries that are always at high risk.
The list is not completed and many other industries are prone to chargebacks and will require a merchant account.
If you’re not sure about your industry, you can contact 5 Star Processing to learn more about high-risk merchant accounts.
Collection agencies, bankruptcy lawyers, financial consulting
Gambling, online gaming, fantasy sports websites
Vape shops, drug paraphernalia, adult shops
Health and wellness, get rich books, life coaching
ISP services, VoIP services, SEO Services
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