Merchant Services For High Risk Businesses

What Does It Mean To Be A High Risk Business When It Comes To Merchant Services (Payment Processing)?

By now, you’ve probably heard the term “high risk” in the merchant service industry. Possibly you’ve heard it from a previous merchant service provider who shut you down, or maybe you’re a new business struggling to get approved elsewhere – but what does it really mean to be a high risk merchant, and why is it so hard to get approved for high risk merchant services and credit card processing?

 

The term high risk is mostly self-explanatory, but, in the banking and processing world, it’s a little more complicated. Merchant service providers (MSP) work with partnering banks to provide their card processing services to businesses.

 

A high risk merchant account provider works with merchants to submit their applications to the bank and assist with pushing through any documents and negotiating for an approval. Typically, this can be a rather simple task with rates and fees being the only point of contention. However, when stepping into the world of high risk merchant accounts, everything changes.

 

What Is Considered A High Risk Business?

When it comes to high risk, banks always have the final say; they are the ones who determine whether a business will be labeled as high risk and can deny anyone they see unfit. A good high risk merchant account provider will fight to the bitter end with their bank to get your account approved. If you’re working with someone who isn’t giving it everything they have, it’s time to find another provider. Business types can be deemed risky by the banks for a variety of reasons, such as:

Questionable Products or Services

Elevated Chargeback Risks

Delayed Delivery from Time of Purchase

Industries Deemed Distasteful

Poor Financials or Credit

 

Many credit card processing providers claim to be experts in dealing with high risk businesses, but the reality is most MSPs only deal with one bank. This means their bank might accept one or two high risk industries, but, if you fall outside of those few, you may be declined without any further chances of approval. The high risk merchant account industry is notorious for these one-trick ponies and can end up wasting weeks of your time stringing you along when their bank doesn’t actually support your business type.

 

Main Goes Big Merchant Services For Your High Risk Merchant Account

At Main Goes Big, we make it our goal to ensure that your business can process credit card payments with a high risk merchant account. We partner directly with numerous banks, specializing in hundreds of different high risk industry types; all in efforts to get you legitimate approvals and processing solutions. We can support industries considered by some to be “too high risk to approve”, thus enabling your business to be approved for a high risk merchant account.

 

We believe your business deserves a chance to prove itself and process payments like any other business can. Get your high risk merchant account with our quick approvals and award winning service. Now is the time your merchant service provider helped fight for you!

 

How To Get A High Risk Merchant Account

 

Step 1: Getting Approved For A High Risk Merchant Account

Starting the approval process is fast and simple. Contact us via our Contact Form or by phone at (844) 700-0137 to speak with one of our high risk merchant service specialists. Your dedicated high risk merchant account manager will work one on one with you to find the best solution and rate at one of our many direct banking partners. They will guide you along the process of meeting compliance standards, gathering the necessary documents and fight to negotiate any rigorous bank requirements.

Step 2: Setting Up Your New High Risk Payment Gateway

Now that you’re finally approved, we will assist with integrating your new high risk merchant account with one of our many available payment gateways. If you choose to do so, you can switch gateways or continue using your existing gateway and equipment. Depending on the bank you are approved at, some restrictions may apply with gateways and equipment. Ask your high risk processing manager for more details on what works best for you.

 

Chargeback Mitigation & Account Monitoring

You’re finally processing credit cards and collecting payments. The vital goal has been completed, but it doesn’t mean the end of our award-winning customer service. Main Goes Big Merchant Services offers fully customized account monitoring and chargeback mitigation tools to keep your hard earned, brand new merchant account up and running. All too often, at other merchant service providers, we hear from merchants that they get approved and shut down within the same week. Stay on track, stay protected.

  

What Makes Main Goes Big Merchant Services The Go-To Solution For High Risk Merchant Accounts?

Chances are, operating within the high risk area, this isn’t your first rodeo with merchant services. You have probably dealt with a different provider at some point or another. With so many merchant service providers in the marketplace, all promising the same things, what makes Main Goes Big Merchant Services different? Experience, Dedication, Connections & Solutions.

 

The key to success when pursuing a high risk merchant account is; Persistent Efforts of a Knowledgeable Expert with The Proper Banking Connections. Learn more about Main Goes Big Merchant Services Here. 

High Risk Industry Examples:

• Airlines & Jet Charters Merchant Services
  
• Alcohol Merchant Services
  
• Liquor Merchant Services
  
• Bail Bonds Merchant Services
  
• Tobacco Merchant Services
  
• Credit Repair Merchant Services
  
• Debt Collections Merchant Services
  
• Debt Consolidation Merchant Services
  
• E-Cigarette & Vape Merchant Services
  
• E-Commerce Merchant Services
  
• Fantasy Sports Merchant Services
  
• Furniture Retailers Merchant Services
  
• Glassware & Bongs Merchant Services
  
• Gun & Ammo Retailers Merchant Services
  
• Marijuana Services Merchant Services
  
• Multi-Level Marketing Merchant Services
  
• Supplements & Nutra Merchant Services
  
• Online Dating Services Merchant Services
  
• Online Casinos/Games Merchant Services
  
• Student Loan Relief Merchant Services
  
• Subscription/Recurring Merchant Services
  
• Timeshare Litigation Merchant Services
  
• Travel & Tours Merchant Services
  
• Trial & Free Offers Merchant Services