Best High-Risk Merchant Account Service Providers In The USA (2024)

To start a business in the industry and do the sale, you need a high-risk merchant account! Are you looking for the best high-risk merchant account for your business?

High-risk merchant accounts are required for businesses that are considered high-risk for credit card processing. These accounts have different contract terms and pricing than low-risk accounts. However, finding a reliable high-risk payment processor can be a challenge.

In this blog post, I am telling you what a high-risk merchant account is, why you need one, and the best high-risk merchant account service providers for your business based on our research analysis.

High-Risk Merchant Account Service Providers in 2024

That’s why we’ve compiled a list of the best high-risk merchant services in the USA. These service providers understand the unique needs of high-risk businesses and offer honest, friendly, and transparent services. With our list, you can easily find a high-risk merchant account that fits the needs of your business.

Here are the best high-risk merchant account service providers with a review. It fulfills the needs of your business that are most used in the USA.

PaymentCloud: For Effortless Payment Processing with Free Credit Card Terminal
Host Merchant Services: Electronic payment processing services to merchants
Soar Payments: Best options for United States-based businesses
SMB Global: International trusted merchants’ solutions
Durango Merchant Services: Secure Low-Risk & High-Risk Merchant Accounts
Corepay: Best for instant approval of merchant account
National Processing: People-first Payment Processing
Easy Pay Direct: Best for the fastest safest payments

Explore the leading high-risk merchant account service providers in the USA, offering secure and tailored solutions for businesses with unique payment processing needs.

#1–PaymentCloud:

PaymentCloud is the fastest merchant account service provider for customer use. It is a ‌choice for high-risk industries like doing high-volume monthly sales. With this account, you can accept different types of payments in your business via credit cards, online, or mobile options, ACH and eCheck.

#2–Host Merchant Services:

With Host Merchant Services , you build the scalability and reliability service with this merchant service. HMS offers high-risk merchant e-commerce services to high-risk businesses like E-cigarettes, Airlines, pawnshops, and offshore businesses. It is an electronic payment processing service for merchants.

HostMerchant services provide high-risk merchant services to all businesses.

This credit card processing is designed for mobile payments, e-commerce, EMV terminals, or point of scale. These merchant services build a strong relationship. HMS is great for high-risk businesses that process $10,000 or more in sales each month.

Accept credit and debit card payments
Fantastic customer service
Processed through a POS, terminal, or mobile device.
Credit/debit card processing with or without a POS.
No cancellation fees

#3–Soar Payments:

Soar Payments provides high-risk merchant accounts for hard-to-place & non-traditional businesses. It accepts retail, mobile, virtual terminal, or ecommerce payments. Soar Payments has consistently offered high-risk merchant accounts. Services to businesses across many industries. You choose retail merchant accounts that will have you accepting credit and debit cards faster and for less. Soar mid and high-risk merchant accounts are streamlined for eCommerce businesses. Soar Payments offer merchant accounts, ACH, eCheck, payment gateway, and related payment technology. Soar payments make integration easy with shopping cart and payment gateway platforms.

Decreased risk of fraud and chargebacks
Special customization for phone
Retail credit card processing has the lowest cost

Soar Payments provides merchant services for a wide range of industries, including:

Antiques & Collectibles

Apparel & Clothing

Bad Credit

Cannabis Support Businesses

Catering

CBD Oil & CBD Products

#4–SMB Global:

SMB Global is payment solutions for all types of merchant accounts, both domestic and international. SMB Global accept is a ACH platform that helps you optimize your processing while providing flexible payment options for your customers and giving you peace of mind. It leverages our 15 trusted banking relationships to help you get a merchant account with the lowest rates and faster approval and deposit times compared to other processors.

SMB Global expertise and knowledge to support and assist multiple industries

Travel
Debt consolidation
Auto transport
Furniture
E-cigarettes and tobacco
Nutraceuticals/Herbal supplements

Here are the benefits of SMB Global.

Competitive Pricing
High ticket support
Free Equipment options
Fraud monitoring tools and chargeback prevention

SMB Global increases the volume processing maximum by 3 to 6 months, processing with low chargeback ratios, steadily increasing volume, and consistent transaction sizes will allow you to be reviewed for an increase in your monthly limit.

#5–Durango Merchant Services:

Durango Merchant Services is different. It secures high-risk merchant accounts for your clients. Integration with all the most popular shopping carts. It accepts payments like Accept Visa, MasterCard, Discover, American Express, Diners Club, China UnionPay, and JCB, plus Google and Apple Pay.

Durango Merchant Services Gateway integrates with more than. 150 third-party shopping carts for merchants who need a fully featured, turnkey shopping cart out of the box.

Fast approvals
Decades of experience
Dedicated account managers
Free fraud reduction training and tools
Transparent pricing

What is a High-Risk Merchant Account?

A high-risk merchant account is just a merchant account for a business classified as being in a “high-risk” category.

Why do you need a high-risk merchant account?

Different service providers have different ideas of what “high-risk” means, but typically, these are businesses with a higher risk of chargebacks, frauds, or defaulting on loans. Businesses selling items or services with questionable legality or running a business with a non-traditional business model such as multi-level marketing also qualify as high-risk.

A few examples of high-risk industries include adult services and adult content distribution, cannabis sales, firearm sales, real estate and timeshare services, casinos and gambling, discount health and medical care services, supplement sales, and any higher-than-average ticket sales.

Benefits Of Using A High-Risk Merchant Account

A high-risk merchant account is a specialized type of account designed for businesses that are considered high-risk due to factors such as industry type, high chargeback rates, or a history of financial instability.

While the use of high-risk merchant accounts may come with higher fees and stricter terms, there are several benefits for businesses in need of these accounts:

Acceptance of High-Risk Businesses
Global Expansion
Reduced Chargeback Impact
Flexible Payment Processing
Quick Approval and Setup
Specialized Risk Management
Dedicated Support
Higher Transaction Volumes

Top-selling High-Risk Merchant Accounts

Here’s a comparison table of some top-selling High-Risk Merchant Account Service Providers based on the information you provided:

Service Provider	Key Features	Pros	Cons
PaymentCloud	– Electronic payment processing services for merchants Suitable for large, high-risk businesses	– Effortless payment processing with a free credit card terminal catering to high-risk merchants	– Transparent fee structure Contactless payments and invoicing for real user reviews
Host Merchant Services	– Focused on U.S.-based businesses High-risk expertise	– Ideal for large high-risk businesses Robust features for payment processing	– Electronic payment processing services for merchants Suitable for large, high-risk businesses
Soar Payments	– Transparent fee structure Contactless payments and invoicing for real user reviews	– Limited information on specific features and pricing that may not cater to all business types	– Limited information on international solutions Pricing details not explicitly mentioned
SMB Global	– Trusted merchant solutions for international markets	– Best options for United States-based businesses tailored services for high-risk merchants	– Specific features and pricing not detailed May not be ideal for U.S.-based businesses
Durango Merchant Services	– Secure low-risk & high-risk merchant accounts Specialized for highest-risk businesses	– Expertise in handling high-risk accounts Security-focused approach	– Speedy Payment Processing Emphasis on safety and security
Corepay	– Instant approval of merchant accounts	– Detailed features and pricing not provided may not suit all high-risk scenarios	– Limited information on specific features and pricing that may not cater to all business types
National Processing	– People-first payment processing	– Customer-centric approach Focus on user experience	– Specific features and pricing not outlined Limited information on high-risk specialization
Easy Pay Direct	– Fastest and safest payments	– Speedy payment processing Emphasis on safety and security	– Speedy Payment Processing Emphasis on safety and security

Conclusions:

After reading this post, you find the best high-risk merchant account service provider.

Choose the best high-risk online merchant account then tell us about its experience.

FAQs

Obtaining a high-risk merchant account involves seeking out specialized vendors, such as those mentioned earlier. Typically, you can complete an online application, although some vendors may require physical paperwork. Approval odds hinge on various factors, including your industry, location, and credit score.

To facilitate the acceptance of credit and debit card payments, a merchant account acts as a vital intermediary. It efficiently channels funds from your customer’s bank accounts and deposits them into your business bank account.