What is a “High Risk Merchant Account?”
High risk merchants are those businesses which fall outside conventional categories, have an increased risk of fraud, a high turnover rate, or a high credit rate.
If you’re in a “high risk” category, you may have a hard time being approved for credit card processing, and many merchant processors may decline you when you apply for merchant credit card service accounts.
We don’t want you to lose potential sales because you can’t accept credit cards! A high risk merchant account from EPS is specifically created to allow you to compete, win customers, and confidently accept credit cards for your goods and/or services.
What kinds of businesses are considered “high risk?”
The business types listed below are examples of business categories that could be considered to be high risk. Not all businesses in every category are automatically high risk.
- Online dating services
- Multi-level marketing
- Health and beauty
- Adult entertainment
- Nutraceuticals
- Travel-related
- Business opportunities
- Tobacco / cigarettes
Does getting a High Risk Merchant Account take longer?
Most high risk accounts that work with EPS get pre-approval within 72 hours and are accepting credit cards in eight to fourteen days after applying. We even have relationships in place to help high risk merchants who can’t get accepted by a US domestic bank.
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EPS Quick-Notes
- Being in a high-risk business category might not mean that your particular business is considered high-risk
- Likewise, if your business doesn’t fit into one of the categories listed here, your business could still be considered high-risk.
- While we offer high risk merchant accounts, we can’t guarantee that every business will be approved (even though we would love to).
- To know for sure, call us.