High Risk Merchant Account at highriskpay.com: Detailed Guide

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In today’s era, people prefer to remain cashless. For businesses to expand, it is important to accept credit and debit cards as a means of payment. However, businesses are considered riskier by older merchant account providers. If one finds themselves in this situation, a high risk merchant account at highriskpay.com is the right choice. Well the purpose of this blog is to tell you everything you need to know about high risk trader accounts, including what they are, how they are determined, and what to expect when using them.

Introduced Highriskpay.com

One of the fastest growing companies in the credit card industry, High Risk Pay has been growing steadily since 1997. It specializes in providing merchant accounts and High Risk Merchant Account at highriskpay.com. Its aim is to provide customer satisfaction and become a reliable provider. It has an extensive nationwide network that runs through processing banks to merchant accounts with an efficient credit card processing service. Their rates are low which makes it easier for customers to maintain their business in good condition.

This high risk merchant account is designed for businesses considered high risk. Such businesses are more likely to suffer chargebacks, fraud or other financial risk factors. High-risk businesses need such accounts to be able to accept credit and debit card payments.

How To Open A Merchant Account?

How To Open A Merchant Account
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There are some steps that helps to open a merchant account:

  1. Obtain a business license: To open highriskpay.com a merchant account, you need to prove that your business is completely legitimate. To create a merchant account, it is first necessary to obtain a valid trading license.
  2. Open a business bank account: Once you have a business license, you will need a business bank account. Through this bank account your merchant account provider will deposit your credit card sales and remove any fees. Most businesses prefer to open a business bank account at a local bank, because local banks offer a level of convenience and customer service that cannot be compared with online accounts. To link a business bank account, you need to provide your EIN (Employer Identification Number) and your business license.
  3. Assess your needs: You need to decide which credit cards you want to take action on. Do you want American Express cards or MasterCard and Visa? Next, you’ll also need to consider how you’d like to make credit card payments. Do you need a personalized solution for processing payments in your brick-and-mortar store? Or how will your customers pay you—will you provide a customer payments portal where customers can pay invoices? If you plan to expand your business in the next few years and have additional payment requirements, be sure to factor them into your plan.
  4. Compare Providers: Once you’re completely sure of what your business needs, start assessing merchant account providers for the best fit.
  5. Complete an Application: Once the comparison of merchant account providers is complete and one has been selected, an application is filled out. Detailed information about the business is to be filled for this application, hence it is important to have all the necessary documents. This requires some documents which are as follows–Business commencement date, Contact info, Authorized signatory information, Bank account & Routing number, Tax ID, Estimated processing quantity in dollars.
  6. Deposit for underwriting: Opening a merchant account is risky for both the account owner and the acquiring bank. Therefore, the provider underwrites and evaluates your business before accepting you. They tend to be high risk businesses, fraudulent, or businesses that have not been operating for a long time. If your business is established and in good standing, you will complete the underwriting process without any problems. However, those with new business struggle to get past the underwriting stage, as account providers and banks are less likely to accept the risk of new business.
  7. Receive approval and start processing: Depending on the account provider, it takes about a week to open a merchant account. Once your business is approved, you can have your customers pay by credit card.

Why is a High Risk Merchant Account Importance For Business?

Many businesses have a seamless merchant account to handle debit card and credit card payments from their customers. Highriskpay.com has everything they need through merchant service providers who know the modules of working with businesses. These high-risk merchant accounts are essential for a wide range of industries, such as travel, telemarketers, e-cigarettes, debt collectors, and businesses that require regular payments.
High-risk instant merchant accounts help businesses take credit and debit card payments instantly from consumers for online sales and secure payment gateways. They help companies sell more, delight customers, and prevent fraud.

Reason to Choose High Risk Merchant Account at highriskpay.com service provider

  1. Expertise in high risk: They provide high risk merchant accounts for all types of business in high risk categories.
  2. 99% approval: High Risk Pay approves 99% of high risk merchant applicants.
  3. Guaranteed Quick Approval: High Risk Merchant Account at highriskpay.com believes that time is money. Assign us yours and we’ll make sure to make it worth it! Apply today and get into business tomorrow.

Which factors determine if a trader is high risk?

Some business industries that inherently carry higher risk are automatically labeled as high-risk businesses. Below are examples of some high-risk industries, which are as follows –

  • CBD (Cannabidiol), E-Cigarettes and Vapes
  • Stun Guns and Tasers
  • credit repair
  • Multi Level Marketing (MLM)
  • Adult Products/Services
  • Pawn shops
  • Supplements & Nutraceuticals
  • Technical support
  • Search engine optimization (SEO) services


Some businesses have inherent risks. “High Risk Merchant Account at highriskpay.com” varies from merchant and processor to merchant and processor. Another important thing, there are many payment processors that can be easily accessed but the merchant may run the risk of being out of touch at any time.


Q.1 How do high-risk merchant accounts differ from regular accounts?

Ans. High-risk merchant accounts differ from regular accounts in several ways such as longer application processes, higher payment processing fees, cash reserve requirements, volume caps in credit card processing, higher chargeback fees, and additional requirements depending on the business type.

Q.2 What steps can businesses take if they are classified as high risk?

Ans. A business that is a high-risk business must ensure that it maintains healthy valuation levels, strives to minimize chargebacks, discloses all deficiency information during the application process, prepares its financial documents and gets paid for the default.

Q.3 How to get Merchant Id?

Ans. Merchant ID is a unique identifier associated with a business in a payment processing system, and it allows transactions to be tracked and managed. To obtain a merchant ID (Merchant Identification Number or MID), a merchant account has to be opened with the acquiring bank. Your MID is issued automatically once you are accepted for a merchant account.

Q.4 Why should we choose HIghRiskPay.com as our High Risk Payment Processor?

Ans. Choosing it as your high risk payment processor can be beneficial In terms of security, solutions, and customer services.

Q.5 Who Needs a Merchant Account?

Ans. Merchant accounts are necessary for e-commerce sites, restaurants, and retail stores. But, businesses of all sizes, which want to accept the card payments, including non profit, healthcare, service based business would need a merchant account. 

Q.6 Why do businesses need a High risk merchant account ?

Ans. There are various reasons due to which businesses need a high risk merchant account. It includes, the business might sell products online, it might be at a reputational risk according to the bank, or the businesses sell their service with recurring billing models. 

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