What Is a High-Risk Merchant Account?
- High-risk industries are industries that are prone to fraudulent sales and chargebacks.
- These industries need high-risk merchant account where you can accept payments.
- A high-risk merchant account can be used by these businesses to process credit card transactions.
Why High Risk Merchant Account is Important?
A high-risk merchant account is very important to receive payments.
Companies that have over $20,000 in sales per month, average credit card sales of $500 or more, or a business that has a bad credit history may also need a high-risk merchant account.
A high-risk merchant account may have higher fees and different terms than a traditional merchant account as well.
Don’t worry if you fall into these categories, as there are still plenty of excellent merchant providers available.