The annoying thing when it comes to high-risk payment processing is that ‘high risk’ can mean too many things. It really depends on who you ask. You could find one provider that’s totally fine with what you do, while another one hardly lets you finish the sentence before they tell you ‘no.’ In any case, finding a processor should feel like shopping around, but actually, it usually ends up feeling like you’re trying to get past a gatekeeper.
So, what do you do? How do you find someone who’s willing to process your payments, as ‘high-risk’ as they are? It’sprobably not smart to go with the cheapest option, but if you go with someone more expensive, how can you be sure they’re worth your money?
Sit back and read on.
First Look at Best High Risk Merchant Account Providers
There’s no single payment provider that’s the best for everyone, but the table below will give you an idea of who might work for you. Of course, we’ll get into the details a little bit later, too.
| PROVIDER | BEST FOR | RATING |
| Adaptiv Payments | Best overall | 4.8/5 |
| Soar Payments | Best for broad high-risk industry coverage | 4.6/5 |
| PaymentCloud | Best for flexible underwriting | 4.5/5 |
| PayKings | Best for businesses that are difficult to place | 4.4/5 |
| Durango Merchant Services | Best for international and complicated accounts | 4.3/5 |
The reason why Adaptiv is in the first place is that their services are built around high-risk merchants instead of being just a category on the side.
They offer both domestic and international processing, payment options in multiple currencies, tools for fraud and chargebacks, and services for all kinds of businesses in high-risk industries.
Soar Payments is another great option, especially if you have an e-commerce business. PaymentCloud, on the other hand, is very flexible. In fact, they’re known for working with merchants that need more flexibility during approval. PayKings is all about businesses that traditional processors usually reject, and Durango is best for complex high-risk accounts.
Best High Risk Merchant Accounts – Quick Comparison
| PROVIDER | HIGH-RISK COVERAGE | INTERNATIONAL PROCESSING | FRAUD AND CHARGEBACK TOOLS |
| Adaptiv Payments | More than 20 industries | Yes | Yes |
| Soar Payments | Broad high-risk coverage | Yes | Built-in filters to detect fraud |
| PaymentCloud | Broad high-risk coverage | Yes | Yes |
| PayKings | High-risk and hard-to-place businesses | Yes | Yes |
| Durango Merchant Services | High-risk and complex accounts | Yes | Yes |
​If your business is in the high-risk category, then you don’t have the luxury other businesses do of choosing among plenty of payment processors. The provider you choose has to be able to handle more than just basic card payments, which is why Adaptiv Payments ranks so highly. They work with more than 20 high-risk industries, and since they offer both domestic and international merchant accounts, you get a pretty broad reach compared to many other processors.
Also, they cover a lot of issues that usually go hand in hand with high-risk processing (fraud detection, virtual terminals, e-commerce integrations, chargeback management, processing in several currencies, crypto, etc.).
Pros
- They work with more than 20 high-risk industries
- International processing
- Processing in several currencies
- Tools for fraud and chargeback
Cons
- Pricing isn’t listed in a simple and standardized format
Pricing and Important Details on Adaptiv Payments
As far as the rate goes, you won’t find it on their website. You may not like that, but it actually makes sense because the price depends on your business, on how many payments you take, on your history of chargebacks, the industry you’re in, and so on. Basically, a lot goes into calculating the price.
| DECIDING FACTOR | WHAT YOU SHOULD KNOW |
| Pricing | Custom |
| Underwriting | They look at factors like chargeback history, history of transactions, business model, and any supporting documents |
| Approval time | Some applications are approved in 3-5 business days, but others (more complicated ones) take longer |
| Funding | Usually within 24-48 hours |
| Processing limits | If you have a high-volume account, the limit is determined during underwriting |
| Documentation | Depends on the account, but can include bank statements, processing statements, and business documents |
How to Choose the Options That Fit You Best
Still not sure what to pick? This’ll help.
If You’ve Been Turned Down Before
PaymentCloud is likely to work best because they work with many types of high-risk businesses, and they use case-by-case underwriting.
If You Have Issues With Chargebacks
If disputes are a concern of yours, you’ll probably be happy with PayKing. Their services are created especially for those types of problems.
If You Sell Internationally
Adaptiv Payments, hands down. They offer international processing plus support for many currencies.
If You Have a Setup That’s More Complicated Than Most
Durango is a good option in this case, especially if you sell internationally and/or your business model is somewhat unusual.
FAQ
Why would my business be considered high risk?
That usually happens if you have a lot of chargebacks, if you work in a specific type of industry, if you sell internationally, if you have recurring payments, or if your business model is simply too complicated for regular banks.
Do I have to pay more for processing?
That might happen, yes. High-risk accounts can have higher fees.
How fast can I get approved?
It depends. You might wait only a few days, but if your business is hard to place or you have to submit a lot of documentation, it could take longer.
