Do you need High Risk Payment Processing Solutions?

If you’re about to start a small business, or are already running one, chances are that you need a high risk payment processing solution. 

Every business needs to process payments from its revenue, and in today’s world, it’s unlikely that you can just limit yourself to cash transactions. Debit and credit cards are used by everyone, both for in-person and online purchases. Especially credit cards are used by consumers and businesses alike. 

But when it comes to small and even medium-sized businesses, finding a suitable payment processing solution often proves to be difficult. Regardless of the industry that you’re in, many banks won’t take a new or even growing small business on as a payment solutions customer because they deem them to be high risk. 

Are you in an industry that requires high risk payment processing?

On top of that, many industries are categorized by banks and mainstream payment processors (PayPal, Stripe, Venmo) as high risk. 

They may not seem all that risky to other people, but typically these industries have a higher credit card chargeback ratio than what the banks have decided “the norm” to be (which is extremely low). 

And if your business falls into that category, getting a payment gateway and a merchant account becomes even harder. 

Mainstream payment processors typically follow the same guidelines as banks, and don’t let you open a merchant account if you declare your high risk business. 

If you do get around this somehow, you might be able to use such a service for a while, but it comes at a great risk to you and your business – these services can shut your account down with no warning, and immediately cut of your cash flow. 

To add insult to injury, they can even freeze your funds until you’ve been cleared of any wrongdoings (such as credit card fraud), which can sometimes take weeks. Losing revenue and access to a chunk of your cash reserves this way can quickly kill any business, even if it was successful before this happened. 

What to do to secure your business and its cash flow

Rather than trying your luck with the banks that are likely to reject your application out of hand, or playing roulette with services like PayPal, you need to get a high risk merchant account. 

This will ensure that you have stable high risk payment processing and can sleep soundly at night, knowing that when you wake up, your customers will still be able to buy from you and your revenue will keep flowing in. 

5 Star Processing can handle your high risk payment processing

Our high risk payment processing solutions come with the expertise of working with high risk industries. We have chosen to specialize in this area, and have customers ranging from guns & ammo stores, gaming and adult entertainment, to lending and credit repair.

Our staff is uniquely qualified to guide you to the best high risk payment processing solutions for your business, and can get you started quickly. 

On top of that, we guarantee that we will provide you with the lowest fees and rates in the industry.

Call us today for more information

If you have questions, about high risk payment processing in general or specific to your business, please call us now at (888) 253 9692 or send us an email to [email protected]. 

We can answer any of your questions, and if you feel ready, even get you started on your application for a high risk merchant account and payment gateway.