High Risk Merchant Account at Highriskpay.com: A Complete Guide Overview

4 min readNov 3, 2023

Finding a high risk merchant account can be challenging for businesses considered high risk by traditional banks and payment processors. However, high risk merchant services providers like Highriskpay.com specialize in providing merchant accounts to High Risk Merchant Account at Highriskpay.com industries. This guide will provide an overview of their services and what to expect when getting a high risk merchant account through Highriskpay.com.

What is a High Risk Merchant Account?

A high risk merchant account allows businesses in certain industries, like CBD, nutraceuticals, and adult entertainment, to accept credit card payments. These industries are considered high risk due to higher rates of customer disputes and chargebacks.

Because of the increased risk, traditional banks and payment processors often avoid providing merchant services to these businesses. That’s where high risk payment processors like Highriskpay.com come in — they work with a network of domestic and offshore banks to provide merchant accounts specifically tailored for high risk businesses.

Benefits of Choosing Highriskpay.com

Here are some of the key benefits Highriskpay.com offers for high risk businesses in need of payment processing:

Specializes in High risk merchant highriskpay.com
Quick account setup and approval
Access to various domestic and offshore banks
Competitive rates for processing volume
Chargeback management tools
Merchant account allowed for CBD and other high risk products
Dedicated account manager

Essentially, Highriskpay.com does the legwork to secure high risk merchant services through their relationships with various banks. This makes it fast and simple for businesses to get approved for the payment processing they need.

What to Expect When Applying for an Account

The application process with Highriskpay.com is straightforward. Here’s an overview of what to expect:

Step 1) Fill out the online application with details about your business — website, projected processing volume, average ticket size, etc. Pro tip: be as accurate as possible, as understating volume could lead to frozen funds later.

Step 2) Highriskpay.com reviews the application and addresses any questions or concerns about the business model and processing history.

Step 3) You complete required documents like the merchant agreement and provide business licenses, articles of incorporation, etc.

Step 4) Underwriting review and approval. This involves verifying business legitimacy and evaluating risk factors.

Step 5) Once approved, you receive account credentials and equipment if needed.

Step 6) Start processing payments! Highriskpay.com provides support to ensure smooth onboarding.

The approval timeline is usually between 2–4 weeks depending on underwriting review and bank requirements. Highriskpay.com’s team will keep you updated on status during the application process.

Pricing and Fees

Pricing for a high risk merchant account is based on several factors like average transaction size, monthly volume, and the risk level of the business model. Here are some standard applicable fees:

Account setup fee — one time fee to establish merchant account, around $500 — $600
Monthly minimum fee — maintenance fee applied regardless of processing volume, usually around $100
Payment gateway fee — covers cost of payment gateway to process transactions, around 2.9% + $0.30 per transaction
Discount rate — this is the main processing fee based on risk level and sales volume, likely 2.5% — 3.5%

There may also be additional fees like chargeback fees, account termination fees, and fees for manual underwriting. Highriskpay.com provides full pricing transparency upfront. They offer interchange-plus pricing, meaning wholesale cost of processing plus a fixed markup.

Top Industries Served

Highriskpay.com specializes in securing high risk merchant accounts for businesses across many different industries, including:

CBD merchants — providing CBD oils, edibles, topicals, etc.
Nutraceuticals — supplements, vitamins, health products
Adult entertainment — adult video, toys, dating services
Online gambling — sportsbooks, poker, betting sites
Online pharmaceuticals — telemedicine, prescription services
Other high risk — bail bonds, collections agencies, car/boat financing

Their underwriting experience across these industries makes the application and approval process much smoother.

Why Choose Highriskpay.com for High Risk Processing?

To summarize, here are the key reasons to choose Highriskpay.com for your high risk merchant account needs:

Simple application process with fast approval timelines
Access to offshore banks when domestic banks reject
Competitive pricing tailored to your processing volume
Support chargeback mitigation and fraud prevention
Compliance experience with high risk products like CBD
Won’t suddenly shutdown your account like traditional processors

As industry veterans since 2006, Highriskpay.com has the experience, tools, and relationships to get your high risk business approved for credit card processing quickly and reliably. They provide ongoing support, chargeback management, and fair rates to establish a long-term partnership. If you need flexible merchant services to handle payments for your high risk products or services, Highriskpay.com is an excellent choice.