It may be difficult to find processors for high risk businesses. Many large merchant account providers will refuse such transactions so this limits the options that are available. With so few available processors, merchants often sign up with the first available provider, without even considering whether they are getting everything that they need. Later on, this can be frustrating as you learn that there are certain restrictions and shortfalls to your services. Before signing up with a processor it is important to research and ensure that there will be no frightening fees in the future.
To find a processor that is flexible and would be a benefit to your company, you need to consider all your options and shortlist the ones that may be beneficial to your business. Ensure that your chosen processor has a good reputation and that they are known for offering fair prices and quality support.
Below is a list of a few of the best processors out there:
- Payment Cloud – They are known for fast approvals and are based in California. Payment Cloud specializes in serving high risk businesses like CBD and Kratom businesses. Their services include:
- Point-of-sale solution
- Mobile phone swipe
- An online payment gateway and virtual terminal
- EMV-compatible terminals
- Merchant cash advances
Payment Cloud provides your company with a dedicated account rep to all new merchants for the life of the account. They have not received any negative complaints on consumer forums, and they customize their pricing according to each merchant’s business type and processing history. This means that you will be getting service that is specific to your business needs.
Some of their industries include: Adult, Airlines and Jet Charters, Bad Credit, Bail Bonds, CBD, Kratom, Cigars, Pipes, Tobaccos, Collection Agency and Credit Repair.
- eMerchant Broker – This company is based in Los Angeles and they primarily focus on high risk e-commerce businesses. Some of their high risk services include chargeback dispute resolution, an online payment gateway and ACH processing. They have managed to maintain a low complaint rate and they offer custom pricing depending on your business needs. Some of the industries that they service includes: Adult Merchant Accounts, Airlines and Jet Charters, Bad Credit, Bail Bonds, Cigars and Pipes, Collection Agency, Credit Repair, Debt Consolidation and Diet Programs.
- Host Merchant Services – They are based in Newark and are well-suited for mist business types. Some of their products include point-of-sale solutions, online marketing tools and online payment gateways. They have only received positive feedback and reviews thus far and their customer service is something to be praised. Some of their industries include: Web Hosting and Telecom, SEO, Events and Tickets, Furniture, E-books, Electronics, High Ticket, Vape Shops, Drop Shippers, Glass/Head Shops, Pawn Shops and Real Estate.
- Card Z3N – they were founded in 2018 and are based in Las Vegas. They serve both standard risk and high risk merchant sectors. The company offers many retail and e-commerce solutions for most business types such as adult, auto parts, electronics and e-cigarettes. They have not received any complaints and they offer custom pricing to all their merchants.
- High Risk Holdings – They primarily focus on offshore merchant accounts for card-not-present merchants serving both domestic and offshore e-commerce businesses. They have a complaint-free record and have been in business since 2008.
- High risk pay – They have been active since 2007 and are focused on High Risk merchants. The company offers point-of-sale equipment, ACH processing, and chargeback prevention to all of its merchants. High Risk Pay service industries in the fields of e-commerce, travel, e-cigarette, startup, bad credit, international, high volume, and adult merchants. They have received very few complaints during their existence and they off custom pricing to all merchants.
The options are available if you are looking for a merchant, so there is no need to settle unless you are 100% happy with the services that are offered.
