The 3 Best Resources for High Risk Merchant Accounts
March 6, 2022

Have you just been told that your business is categorized as a high-risk merchant? If it’s your first time hearing that term, you’re probably wondering what that means for your business.

In its essence, being a high risk merchant means that your line of business or the industry that you’re in is more prone to chargebacks than your regular companies.

Although this has nothing to do with your reputation, being a high-risk merchant makes it more difficult for you to find a reliable merchant provider that could offer you a high-risk merchant account.

To make things a little easier, we’ve compiled the three best merchant account providers that offer good rates and excellent services:

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Soar Payments

Although this company only covers businesses in the United States, it is one of the best merchant providers out there for its wide range of solutions for clients, especially high-risk merchants.

Soar Payments is based in Houston, Texas, and has been in business since 2015 where it specializes in high-risk businesses where they work with more than one dozen banks and processors to place high-risk clients. They can even arrange an offshore account if you need it for your business.

Soar Payments focuses on e-commerce services where it uses USAePay, Authorize.Net, and NMI payment gateways that easily integrate with most online shopping carts.

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It also integrates with ChargebackArmour, a system that offers automated chargeback prevention and response that will help high-risk merchants lower their chargeback rates.

Durango Merchant Services

Founded in 1999, Durango Merchant Services has always specialized in high-risk merchant accounts and it has built a reputation for its fair rates, excellent customer service, and honesty. The company headquartered in Durango, Colorado offers different PIN pads, terminals, and mobile card swipers and it also has the iProcess app and EMV-compliant Bluetooth readers.

If you’re an e-commerce business, Durango has the Durango Pay gateway that supports and processes payments for a wide variety of online shopping carts.

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It also has recurring billing and an Authorize.Net emulator that allows you to interface with any shopping cart. The only downside to using Durango Merchant Services is that it can charge early termination fees in some instances.

First Card Payments

First Card Payments is a high risk merchant account provider out of Florida and Texas that offers merchant accounts to businesses that fall into that category. What makes FCP so special is the company’s discount and approach.

The company offers a competitive rate where they promise to beat competitors by offering 25% lower than competitor prices. Those rates are always welcome in a time where every penny counts.

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Additionally, the company takes an interesting approach to merchant processing services. The company actually offers everything in house. SEO marketing, Call centers, payment gateway creating, Authorize.net, merchant account services, and more. They aren’t just providing services they are providing real partnership level options to all their clients. It’s one-stop shop deal.

PaymentCloud

Finally, there’s PaymentCloud, which is deemed the best merchant provider today. Founded in 2010 and headquartered in Sherman Oaks, California, PaymentCloud offers a suite of services for high-risk merchants where it has a strong network of third-party processors and banks to help you get approved for a high-risk merchant account.

In fact, it has one of the highest success rates in the business for high-risk merchants and it will help you set up your account without charging you for it.

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When you work with PaymentCloud, you’ll get a free EMV-compliant terminal with your account that you can use for as long as you are with the merchant provider.

It also has Authorize.Net as its payment gateway but it is compatible with other gateways as well. The company also has a solid reputation and doesn’t have a BBB profile, which means that it’s reliable and honest.

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