In addition to the categories mentioned above, businesses in certain industries, may also be listed as high risk merchants with most payment processors. These high risk industries include:
Of course, even if you’re in one of the high risk industries identified above or you’ve been identified as a high-risk merchant for some other reason, you still need a merchant services provider.
Not just any merchant services provider will do, either. You need to take your time, explore your options, and look for a high risk merchant services provider that will best benefit your business by dealing fairly with you. Unfortunately, some payment processors and merchant service providers engage in predatory practices. Investigate the company you’re considering partnering with as thoroughly as they investigate you to determine suitability for a high risk merchant account.
Negotiate, if there’s any wiggle room to do so, for shorter terms, lower fees, and smaller reserve requirements. You may not be able to get all the concessions you seek, but you might be able to work a little extra breathing room into the equation for the sake of your business.
At the end of the day, BankCard Services is here to help businesses like yours grow. BankCard Services can help high risk businesses get approved for merchant accounts when many others cannot. Plus, we don’t just get you approved. We work with you to make sure you stay approved, by matching you with services that are willing to work with you as a high risk business. We have a 98.7 percent approval rate for helping high risk businesses like yours get the merchant services you need.
Whether you’re involved in a high risk industry or have other reasons for being identified as such, we believe we have the right service, the right knowledge, and the right tools to help you grow your business. Contact us today to learn more about the many services we have to offer high risk businesses.