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Who Needs a High-Risk Merchant Account?

by theskfeed

Who Needs a High-Risk Merchant Account

Are you planning to start an e-commerce website to accept payments for your high-risk business? It is impossible to start accepting payments if you do not have a high-risk merchant account. Merchant accounts are needed for a company to process credit card payments.

Let us understand how high-risk payment processing works:

What are high-risk merchant accounts?

A business is considered high risk if the acquiring bank categorise your business in a high risk category. There are several factors that determine a high-risk business. The main factors that determine a high-risk merchant are due to the high potential of chargebacks, industry reputation, fraud, etc. For example, the adult industry is considered high-risk due to reputation of the industry and the high potential of chargebacks.

Such businesses need to apply for a high-risk merchant account.

How to get a high-risk merchant account?

Obtaining a merchant account could be a lengthy and frustrating process due to the volume of paperwork you require to go over. High-risk payment providers need proper paperwork in order to approve a merchant account.

You need to apply for a high-risk merchant account online. Fill in the application form. You need a reliable merchant account processor such as iPayTotal. With iPaytotal application process is simple.

High-risk merchant account providers tie-up with various acquiring banks to provide an account to the merchant. Once your business is approved by the acquiring bank you can start accepting payments.

High-Risk Merchant Account

Do I require to pay a massive amount of money before I get a merchant account?

Sadly, yes. Because it is a high-risk business, providers may impose high fees. But few providers won’t need you to spend a high application price, but beware because they may impose higher rates instead.

How do I get paid?

Every transaction will get processed through your merchant account. So you may not get your funds settled instantly. It might take 3 weeks until the amount gets settled in your account.

How long will it take to get my merchant account approved?

Based on the documents you provide to your merchant providers, your application may get approved immediately within a day or it might take a month. As long as documentation is perfect there is a high chance that your account will get approved quicker.


If you are looking to process payment for your business contact iPaytotal now..

Visit https://ipaytotal.com/. Email us at [email protected] or call us at +44 800 5988.

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1 comment

Human July 29, 2020 - 3:21 am



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