Someone who sells cupcakes will tell you that finding a payment processor was one of the easiest things in the world. But if you sell CBD products or you have an online casino, that won’t be the case for you. The vast majority of regular payment processors will flat-out reject you before you even get a chance to explain that your business is legit.
But that doesn’t mean you won’t be able to process payments. All you have to do is find a high-risk merchant account provider.
There’s a good deal of them out there, but not all of them are good. You’re in the right place, though, because this article lists the best ones available.
Top High-Risk Merchant Account Providers
| PROVIDER | BEST FOR | RATING |
| Adaptiv Payments | Broad coverage across high-risk industries | 4,9/5 |
| Durango Merchant Services | International and offshore processing | 4,8/5 |
| Host Merchant Services | Flexible setups for payments | 4,7/5 |
| PayKings | Support for chargebacks and offshore accounts | 4,6/5 |
| TailoredPay | High-risk merchants that need a lot of integrations | 4,5/5 |
| PaymentCloud | Businesses that want more hands-on support | 4,4/5 |
| SoarPay | High-risk businesses in the U.S. | 4,3/5 |
As you can see, Adaptiv Payments takes the top spot, and the reason for that is simple – it’s the most well-rounded option.
Durango Merchant Services is a close second, and you’ll want to look into this one if you do a lot of your business internationally. To be fair, Host Merchant Services is also a good option for international businesses.
PayKings focuses more on offshore accounts and chargebacks, while TailoredPay is an option that will stand out to those who want a provider that can integrate their services with a lot of platforms.
The list ends with PaymentCloud and SoarPay, both of which work best for businesses based in the U.S.
How the Providers Compare
| PROVIDER | HIGH-RISK COVERAGE | INTERNATIONAL PROCESSING | TOOLS FOR FRAUD AND CHARGEBACKS |
| Adaptiv Payments | Many high-risk industries | Yes, and that includes processing in multiple currencies | Filters for preventing fraud, tools for disputes and chargeback alerts |
| Durango Merchant Services | High risk businesses and ones that are hard to place | Yes, including merchant accounts | Fraud controls, tools for preventing chargebacks, 3D Secure 2.0 |
| Host Merchant Services | High-risk and regulated industries | Yes, with processing in multiple currencies and offshore accounts | Monitoring in real time, fraud detection, tools for managing chargebacks, 3D Secure 2.0 |
| PayKings | High-risk industries and businesses in the ‘difficult to plac’ category | Yes, including offshore accounts. Settlements are currently in USD | Protection against fraud, alerts in real time, support for disputes, representment for chargebacks |
| TailoredPay | More than 10 high-risk industries covered | Offshore and cross-border processing | Fraud detection powered by AI, tools for monitoring and mitigating chargebacks |
| PaymentCloud | Wide range of high-risk industries | Yes | Fraud prevention, chargeback management |
| SoarPay | More than 50 high-risk and regulated industries | Limited (only qualifying businesses based in the U.S.) | AVS, CVV, and built-in fraud filters |
If you’re looking into payment services for challenging industries, Adaptiv Payments is your best bet, at least as of right now. And you can use their services for more than just regular card payments because they offer ACH, virtual terminals, recurring billing, e-commerce integrations, and, of course, international processing, as well as processing in multiple currencies.
According to Adaptiv, they have more than 20 domestic and international banking partners, which means they have plenty of options to potentially place an account.
The not-so-ideal thing about them is that you can’t simply go on their website and look at prices because they tailor them to the specific business, but truth be told, that definitely makes more sense than having one standard processing rate.
Pros
- They work with a lot of high-risk industries
- Support for international and multi-currency processing
- They offer ACH, recurring billing, virtual terminals, etc.
- Included monitoring for fraud and tools for managing chargebacks
Cons
- You can’t find out the price unless you contact them first
Pricing and Other Details on Adaptiv Payments
| DECIDING FACTOR | DETAILS |
| Processing rates | Depends on the account and underwriting. None listed publicly |
| Setup fees | No |
| Application | Online, takes less than 5 minutes |
| Approval | Preliminary approval can be done in as little as 24-48 hours |
| Funding | 24-48 hours |
| International processing | Multiple currencies supported, available solutions for international merchants |
| Support | 24/7 |
What to Check Before You Choose a Provider
Here’s a quick checklist to go through to find which payment processing provider best suits the needs of your business:
Do They Work With Your Industry?
If you’re interested in a provider, check if your business is eligible before you do anything else.
What Will You Pay?
There are providers who advertise their rates, but you probably won’t be paying just that. More often than not, there are fees tacked on to the rate you see.
What Happens When You Get Chargebacks?
Look at the tools. If you see that a provider offers tools for chargebacks, that’s a good sign because they might help you reduce losses and make disputes easier to handle.
FAQ
What makes a business high-risk?
That label gets slapped on because of the industry you’re in, the number of chargebacks you have, if you have recurring payments, if you have large transactions, if you have international customers, etc. In short, a lot of modern businesses are high-risk.
Are High-Risk Merchant Accounts More Expensive?
They usually are, but the numbers depend on the specifics of your business.
How Long Will You Wait for Approval?
Paperwork and your risk profile decide that. It might be a few days, or it might be longer if underwriting needs some extra documents.
