High Risk Merchant Accounts for Online Business

So you’re just starting an online business and need the ability to take credit cards to process customers’ payments. Setting up a small business with merchant account services should be a simple task, right?  Not if you’re ‘high risk’.

Credit card processing providers are very careful when deciding which online businesses they will approve for merchant accounts. How do they chose who will be approved and declined? That part is the simple part. It’s all about risk.

That is why some of the major online payment processors set up just about any type of business, only to close the account a short time later.

Merchant account providers bear a certain amount of risk every time they process credit card transactions on behalf of a business. Credit card processors mitigate this risk by charging rates and fees specific to each business type. Of course a business owner’s personal credit has an impact on whether a business is viewed as higher risk by processing banks, but some businesses are automatically deemed high-risk based on the products or services they are selling.

It’s obvious that certain industries like pharmaceutical and adult services are immediately classified as high risk and may face more scrutiny when trying to get approved for high risk merchant accounts. In other industries, it’s all about charge backs.

There is always a chance that a customer, for whatever reason, may choose to dispute or even charge back a transaction. And as far as the credit card providers are concerned, in the merchant account industry the customer is always right. Businesses in industries like PC tech support, travel, and debt collection generally have higher charge back ratio.

Some industries are classified as high-risk for no apparent reason. This is the case with businesses selling products like dietary & nutritional supplements or electronic cigarettes. Getting set up with merchant account services for these industries can be difficult. Even more so with bad credit or no credit card processing history.

Fortunately, there are credit card processing companies that gladly process credit card transactions for businesses that fall into the high risk category.

At The Transaction Group (TTG), we have relationships with these processors. For over a decade, we have specialized in helping businesses throughout the world set up merchant account services. With our network of banking partners both in the United States and offshore we are able to get the best rates and deliver approvals faster than most other credit card processing companies.

If you have been declined for a merchant account because you were told online business is high risk, allow TTG to help.

Not only do we offer merchant accounts, we can also quickly set your business up with all the tools necessary for your online store, such as the credit card payment gateway and online shopping cart system.

Our all-in-one ecommerce solution is ideal for all new online businesses, including high risk merchants. All parts of the system are secure and compatible, ensuring a smooth checkout process for your customers, regardless of where they are located throughout the world.

To learn more about our credit card processing solutions, call us today. We’re always happy to answer any merchant account questions, especially for high risk merchants who typically face added scrutiny by other credit card processors.

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Need immediate assistance? Complete this form or call us today at 888-383-8056.

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Are you shopping for a better rate? Let us save you money!

Most merchants are unaware that interchange rates are adjusted as much as 2x per year. Over the course of several years, those adjustments can hike up a merchant’s rate and cost the merchant thousands in processing fees. Contact us via the form above, or call us today at 888-383-8056. Chances are, we can save you up to 25% over your existing rates and fees!

Why do businesses choose to work with The Transaction Group? 

  • We aim for 100% customer satisfaction. We understand that the customer comes first. At the end of the day, if the customer is not happy, we’re not happy.
  • We offer a FREE rate analysis to every business. In most cases, we can save a business up to 25% on existing rates and fees. But if we can’t beat a customer’s rate, we’re upfront from the start. We don’t waste the customer’s time.
  • We are reliable and always available. If a customer has any concerns, we’re available even after business hours. We’ll address any issues immediately.
  • We don’t believe in one-size-fits-all.We provide solutions based on the specific requirements of each and every business. What’s best for one small business may not work for another.
  • We have a fast & easy setup process. In most cases, we offer a fast and easy approval and set up. While some high risk businesses can have longer underwriting times, we keep the customer informed throughout the process and work for fast approvals.
  • We have solutions for every business type. From low-risk card-present credit card processing solutions to payment processing solutions for high risk e-commerce stores, we’ve got it all.

Let’s Work Together.

At The Transaction Group, customer satisfaction is our priority. Allow us to show you what we can do for you.

Let’s Work Together.

At The Transaction Group, customer satisfaction is our priority. Allow us to show you what we can do for you.

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