5 Things To Look Out For While Choosing High-Risk Payment Processor

5 Things To Keep In Mind Before Choosing High-Risk Payment Processor

If you’re looking for a high-risk payment processor, you should understand that not all vendors are reliable. As a high-risk business, the risk associated with maintaining and running your account will be tracked and rigorously regulated.

So, if we want to put it differently, you will get less than ideal conditions and probably more expensive pricing on your account. At the same time, not many processors are willing to work with high-risk businesses. This can make it challenging to find a reliable payment processor. But it’s not impossible. Here are the five things to look out for during your search.


Look for quality account security features.

High-risk merchant accounts are known for often being insecure. Having a more expensive pricing model doesn’t mean that your business should be exposed to even greater risk. Look for a high risk payment processor to ensure your financial health and secure business funds.

Generally speaking, find vendors with security features such as 3D secure payment gateways. This feature protects every individual transaction. On the other hand, the payment processor should also provide SSL encryption. SSL boosts security, but it makes customers trust you more.

Also, ask how the payment and customer data will be stored and whether the vendor uses the PCI-DSS standard.

Shorter Contract Length

When you’re looking at different payment processing offers, the chances are that you will notice that a lot of them require long-term contracts. You never know how your business or market will change in the future.

What works for you now might be completely obsolete for your business in the future. On the other hand, some vendors will offer to add a renewal clause that might surprise you. The best option is to find a contract that obligates you to use their services for 12 months.

There are even companies that offer monthly subscriptions. Generally speaking, try to get a “trial period” to see how something works before committing.

Custom Solutions

Each business has unique needs, and you need to find a merchant account that can accommodate them. It all depends on what kind of an online sales process you have. For example, stores that say expensive trinkets might rely more on larger orders.

On the other hand, some companies offer their services as subscriptions with higher chargebacks. You want the payment process adjusted to your dynamic needs while streamlining the whole checkout process.

Check how the account is set up, including what the monthly minimums are, is there a cancellation option, what are the chargeback fees, and how the gateway works.

Check for multiple similar offers.

One of the reasons many high-risk accounts have such poor conditions is that businesses don’t take the time to find better options. It’s imperative to do your research when looking for a payment processor, especially with high-risk businesses.

Payment processing services are often really flexible in pricing and added features. However, you won’t have the leverage to negotiate terms unless you’ve found another similar payment processing service with some advantages.

Even if you aren’t able to reduce the price or get better terms, you may still be able to find better offers out there. Check out online reviews, see what current customers are saying, and see how many businesses use a particular service.

Know the marketing tactics

Know the marketing tactics

All industries have their fair share of misleading marketing tactics that might lead business owners into a situation where they don’t want to be. It’s essential to learn a couple of things to avoid getting tricked into deciding without even understanding what it will mean for your business in the long run.

First of all, be wary of suspiciously low processing fees. If they look too good to be true, that’s because they are. In other words, the service provider has probably added several hidden fees you are currently unaware of but will become aware of once you start paying them.

We mentioned earlier about hidden auto-renewal clauses, so keep an eye on that too. On the other hand, avoid leasing credit card terminals as leasing costs are much higher. In the end, check all the clauses related to canceling your contract and when they apply.


These are the five essentials you should be considering when looking for high-risk payment processing services. Take your time, explore various resources, and think about different offers to make the best decision possible. Check out top tech blogs for more.

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