Best High Risk Merchant Account with Instant Approval

May 30, 2019

High risk merchants are often automatically disqualified for processing accounts for a variety of reasons. Most often though, the goods or services that they’re selling are the very reason that the merchant is considered high risk. Those that aren’t denied processing accounts are subjected to high risk merchant fees, which are often exorbitant, or long approval times while the bank/payment processor performs necessary background checks to set up a merchant account.

At PayDiverse, working with high risk merchants is our specialty. We offer fast account approvals and quick account set-ups. Upon instant approval, merchants are set up to process payments within 48 hours. We work with business owners in a variety of high risk industries including (but certainly not limited to):

  • Adult novelties and entertainment
  • Business consulting
  • CBD & Hemp
  • Collection agencies
  • Debt consolidation
  • Diet plans and weight loss
  • Fortune tellers
  • Hair restoration
  • Identity theft protection
  • Magazine subsciptions
  • Matchmaking
  • Multi-level marketing
  • Online pharmacies
  • Nutraceuticals
  • Software downloads
  • Tech support
  • Ticket brokers
  • Timeshares
  • Weapons


Why Apply for a High Risk Merchant Account

As mentioned earlier, there are many cases where merchants are unable to obtain instant approval credit card processing services for their business. This is usually because their business has been deemed high risk, either as a result of the industry that they operate within, or for other reasons that may include their business or personal credit history, a history of high chargeback ratios, longer chargeback liability periods or having their business named on the Terminated Merchant File (TMF) list.


What to Look for in a High Risk Merchant Services Provider

When searching for a high risk merchant services provider, it’s important to look for more than just credit card processing services. Finding a provider that protects your best interests as a merchant is vital. Key features to seek in a merchant services account include the ability to process payments across multiple supporting banks, high-quality fraud prevention, chargeback protection measures and 24-hour instant support and account access, whether that’s provided online or over the telephone.

High risk merchant fees can be expensive, so it’s also wise to make sure that you understand precisely what you’ll be charged for and how much you’ll be charged. Ask if the fees are charged as a percentage or a flat fee per transaction and make sure the fee is reasonable. Additionally, check your contract for hidden monthly or annual charges and additional fees that may be charged for chargebacks or declined transactions.


How PayDiverse Serves High Risk Merchants

At PayDiverse, we provide more than just fast approvals and quick set-up times. Our network of more than 40 U.S. and offshore high risk merchant account providers understand the inner workings of high risk industries and business practices and are ready and willing to provide credit card processing services to our clients.

We look out for our clients’ best interests with a multitude of account features such as multi-bank processing, real-time chargeback alerts, iSpy Fraud Prevention software that’s integrated into our payment gateway and 24-hour account support. We provide convenient features including a secure merchant portal where our clients can access reports and account details, as well as ACH/e-check processing, pinless debit and processing solutions for mobile, ecommerce and bricks and mortar retail stores.

To apply for a high risk merchant account with fast approval, complete our easy, secure online application.

Diverse Payment Processing is Smart Processing

Fill out our free and quick merchant account application and let us match you with many banks that want your business.