High-Risk Merchant Accounts EXPLAINED: What to Do If Your Business Is Considered High-Risk

Having trouble getting approved for a merchant account? ✅ 🏦 Has your ability to accept credit cards been taken away? 💳 🚫 Well, not to worry. Your business might just be classified as high-risk📈. If that's the case, then you may need a high-risk merchant account.

A high-risk merchant account is a special type of merchant account for businesses that are considered high-risk, so that they can accept credit card payments. In the eyes of a payment processor, businesses are considered high-risk if they have an increased chance of financial exposure linked to their industry. Because financial institutions aim to reduce their liability, they often deny services to high-risk merchants, leaving them without the ability to process payments.

There are a few factors that may cause your business
to be labeled as high-risk. Let me give you some examples:

1. Highly regulated industries
such as adult CBD and firearms can pose compliance, reputational and monetary risk
to financial institutions.
2. Business types
with future delivery such as ticket sales, travel and subscriptions
are considered high risk because of their increased
likelihood of chargebacks.
3. And finally,
your credit worthiness. Banks
rely on your credit history to give them a snapshot
of your financial integrity. This helps to ensure
that they won't be held liable
for your financial difficulties.

Continue watching to learn more about what a high-risk business is and how you can get started processing payments with a high-risk merchant account!

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Apply for high-risk merchant services with ☁️PaymentCloud☁️ ➡️ https://paymentcloudinc.com/high-risk...

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Additional Resources
What Makes a Business High Risk? ➡️ https://paymentcloudinc.com/blog/high...
What Is a High-Risk Merchant Account & How Does It Work? ➡️ https://paymentcloudinc.com/blog/what...
High-Risk Merchant Account Fees & Rates: Merchant Guide ➡️ https://paymentcloudinc.com/blog/high...
What Is a High-Risk Transaction? ➡️ https://paymentcloudinc.com/blog/high...
List of High-Risk Merchant Category Codes ➡️ https://paymentcloudinc.com/blog/high...
What Is a Chargeback? The Ultimate Guide ➡️ https://paymentcloudinc.com/blog/char...
What Is Credit Card Fraud and How to Prevent it ➡️ https://paymentcloudinc.com/blog/cred...

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Chapters
0:00 Intro
0:20 What Is a High-Risk Business?
0:42 What Makes a Business High-Risk?
1:19 Can You Avoid Being Labeled High-Risk?
1:38 What Is a High-Risk Merchant Account?
2:36 High-Risk vs Standard Merchant Accounts
3:52 How to Get a High-Risk Merchant Account

#highriskbusiness #highriskmerchantaccount #highrisk #highriskindustries #highriskpaymentprocessing

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