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High Risk Merchant Accounts

What types of businesses are considered high risk merchant account?

Trial offers and continuity billing are typically regarded as high risk sales types in the credit card industry. Other types of businesses are coin dealers, financial counseling, ammunition sales, nutritional supplements and travel among others.

Why are these businesses high risk merchant accounts?

This is because of the higher-than-average frequency of chargebacks among subscribers. For this reason, your business may find it challenging to open a merchant account through a conventional credit card processor. Luckily, there are a number of merchant account suppliers that specialize in high risk business types. These companies may be able to approve you to accept credit cards online, in person, by phone, and by mail. Although it’s common for high risk merchant accounts to charge higher fees and impose lower deposit limits, there are benefits to using a high risk merchant account provider.