99% of High-Risk Merchants Get Approved with FinZeo
Finally, high-risk merchants get preferred treatment. We specialize in providing cutting-edge merchant processing technology tailored specifically for high-risk merchants. Our advanced payment processing technology and 99% approval rate makes us a great partner for your merchant processing needs.
What is a High-Risk Merchant Account?
It's important to note that the criteria for designating a business as a high-risk merchant can vary among banks, ISO’s and payment processors. Being classified as high-risk may result in higher processing fees, reserves, and more stringent underwriting requirements with one bank and fewer requirements with another. As a Payfac we have multiple banking partners. This allows us to setup high-risk merchants with better merchant processing accounts with lower fee’s.
Top 7 Reasons a Business Need a High-Risk Merchant Account
High Chargeback Rate
If a business has a history of excessive chargebacks (disputed transactions initiated by customers), this can lead to being unfairly labeled as high-risk. FinZeo provides it’s customers with technology to help stop Chargebacks before they become a problem.
Recurring Billing
Subscription-based businesses with recurring billing models are often viewed as high-risk because of the increased likelihood of chargebacks and customer disputes over billing practices. FinZeo’s billing platform can automatically send payment reminders, process payments and send payment receipts to your customers to help eliminate this risk to your business.
New or Startup Businesses
New businesses without an established track record may be seen as high risk since there is limited historical data to assess their financial stability and customer behavior.
Industry Type
Some merchants are considered high-risk because of the products they sell, such as adult entertainment, online gambling, CBD products, and telemarketing. Different business types can be considered high-risk due to legal and regulatory complexities, reputational risks, and a higher likelihood of chargebacks. It’s important to know that different banks, Payfac’s and ISO’s have different underwriting which means if you have been labeled a high-risk merchant that’s not necessarily true and you should look into other payment processing options.
Selling High Risk Products or Services
Businesses offering products or services associated with a higher likelihood of disputes or legal issues, such as pharmaceuticals, weight loss supplements, or debt consolidation services, are often categorized as high risk.
Poor Credit History
Merchants with a low credit score or a history of financial difficulties may be perceived as higher risk because of concerns about their ability to manage financial obligations.
High Average Ticket Size
Merchants with high-value transactions are considered riskier because any chargebacks or fraud incidents can result in significant financial losses.
Why Choose Us for High-Risk Merchant Processing?
Extensive High-Risk Industry Experience
With years of experience working with high-risk businesses, we understand the unique challenges and requirements of your industry. Our in-depth knowledge allows us to offer customized solutions that address your specific needs, ensuring smooth and efficient payment processing.
Advanced Risk Management Solutions
We know that risk management is crucial for high-risk businesses. Our state-of-the-art risk management tools and fraud prevention systems are designed to mitigate risks and protect your business from fraudulent activities. Rest assured, your transactions will be handled with the utmost security.
High Approval Rates
We take pride in our impressive approval rates for high-risk merchants. Our streamlined application and approval process, coupled with our expertise in high-risk industries, enable us to provide a high acceptance rate for businesses like yours. Say goodbye to the frustration of getting declined and hello to seamless payment processing.
Customized Solutions
We understand that each high-risk business is unique. That's why we offer tailor-made solutions that align with your specific industry requirements and business model. Our team of experts will work closely with you to design a payment processing strategy that maximizes your profitability and enhances customer satisfaction.
Customer-Friendly Payment Methods
We know the importance of offering convenient payment options to your customers. That's why our solutions include a range of customer-friendly payment methods, such as ACH, credit & debit cards, text-to-pay, email payment links, integrated API's, and customer portals. Simplify the purchasing experience and increase customer loyalty with our diverse payment options.
Transparent Pricing and Competitive Rates
We believe in transparency when it comes to pricing. Our straightforward fee structure ensures that you know exactly what you're paying for, with no hidden charges or surprises. Moreover, our rates are highly competitive, allowing you to maximize your profits without compromising on service quality.
Dedicated Customer Support
Your satisfaction is our top priority. Our friendly and knowledgeable customer support team is available to assist you every step of the way. Whether you have questions, need technical support, or require assistance with your account, we're here to provide prompt and reliable assistance.
Why compare high-risk merchant accounts?
It is important to make sure you have the right merchant account partner. Some businesses may be categorized as high-risk at one processor but not at another. This wrong categorization causes hirer processing fee’s to be charged. Some processors and ISO’s are additional middlemen between you and the bank which increases your overall merchant processing fee's
Contact Us
To learn more about our high-risk merchant processing solutions and how we can help your business thrive. Let's embark on a successful partnership that unlocks the full potential of your business.