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In the credit card processing world, some business types and industries are considered ?risky.? These businesses are often turned down by merchant account providers, as they feel that the high risk industry is just too difficult to work with. Aliant is proud to be a high risk merchant account provider that specializes in exactly what these companies need.
Generally, high risk industries are those with high chargeback rates, lots of fraud, or ones that are heavily regulated. Some examples of high risk industries are e-cigarettes, gambling, telecom, firearms, travel services, electronics, event tickets, dating websites, adult entertainment, direct marketing, nutraceuticals, web software development, international business, and furniture and jewelry online.
One thing to understand is that while one provider might consider you high risk, another may not. It all depends on their risk department (underwriting) guidelines, as some are stricter than others.
One misconception about high risk credit card processing is that it?s related to the business owner?s credit score. The truth is that some businesses are considered high risk because of the industry that they?re in- not the owner?s personal credit score. If your business is in an industry that is known for increased chargebacks or fraud, prepare to be placed in the high risk category.
While a business owner?s personal credit score is considered when opening a merchant account for a new business, it is not the primary consideration for businesses deemed high risk. If you are told that your business is high risk, do not take it personally.
While some credit card processors turn down merchants in high risk industries, we work with a broad network of financial approval networks to provide assurances in accepting them. We can provide flexible terms and conditions enabling you to run your business effectively while monitoring fraud and chargebacks, and assisting in keeping your costs down.
What is a High-Risk Merchant Account?
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