What is considered a high risk merchant?

Merchants may be considered high-risk if they have a high volume of transactions or have a high average transaction rate. If a merchant processes over $20,000 in payments per month, or has an average transaction of $500 or more, they may be classified as high-risk.

How do I get a high risk merchant account?

To get a high-risk merchant account, you need to fill out an application online. Of course, to accept card payments you also need to find a reliable high-risk payment processor. The process of applying for a high-risk merchant account is short and simple.

How much does a high risk merchant account cost?

You can expect to pay on average ~$100 per month for a high risk merchant account, on top of a $500 credit card merchant fee to Visa and MasterCard, EACH, on top of potential sign up or start up credit card processing fees.

What businesses are involved in high risk?

The most common high risk businesses include (but are not limited to): Online Gambling, Online Gaming, and Casinos. Sports Booking. Travel and Advanced Booking.

What business names are high risk?

High-Risk Industries

  • Casinos or online gaming.
  • Prepaid debit cards.
  • Calling cards and VoIP providers.
  • Pharmaceuticals and online drug providers.
  • Tobacco/E-cigarettes/cannabis products.
  • Telemarketing sales.
  • Adult entertainment and dating services.
  • Airlines, accommodations, and ticketing agents.

Is it difficult to get a merchant account?

The reality is that it is much easier to get a merchant account today than it ever has been. In fact, the requirements in order to establish a merchant account are quite easy to satisfy. Although some businesses choose to incorporate, many of our customers register their business as a sole proprietorship.

Is Square a high risk merchant?

Any one of these issues can get your business labeled as a high-risk merchant, and that’s difficult when you need to accept credit card payments. If you landed on this page wondering, “can I use Paypal, Stripe, Venmo, or Square as a high-risk merchant,” the simple as is no.

Who owns paycloud?

Shawn Silver
PaymentCloud got its start in 2015 with just 3 members, a garage, and a mission. Shawn Silver, the CEO and visionary, had an idea to start a merchant services company that would not only support any business type but also leads with low rates and a personalized touch.

What is high-risk payment gateway?

For example, a high-risk payment gateway allows customers to submit their credit card information and then safely pass the sensitive financial data from the customer, the business, the company, and the bank.

Is a PayPal business account the same as a merchant account?

PayPal is a financial services company that accepts payment from customers online and in person. A merchant account is a business bank account that lets you collect and process credit card payments from patrons.