Do I Need a High Risk Merchant Account?
Any merchant who wishes to allow their customers to pay with a credit card needs a merchant account. However, some merchants may be classified as “high-risk,” and this can make finding a credit card processing company who will take your business difficult. If this is true, you need a high risk merchant account.
Businesses that have increased risks of fraud, a high turnover rate or a high credit rate may be considered high risk. Some examples of companies that may be considered as high-risk include, but are not limited to:
- E-commerce sites
- Adult entertainment
- Tobacco/cigarette products (such as ecigarettes)
- Health and weight loss products
- Online dating