If you’re a business owner, especially if you operate in the financial world, you already know that there are certain types of services and products that are deemed high risk. But what does this mean, exactly? Well, this article is here to provide you with an overview of the high risk merchant list and what it means for your business.
High Risk Merchant List
High risk merchant lists contain information about accounts that have been closed by credit card processors due to high charge backs or violations of card brand rules [[1](https://stripe.com/docs/disputes/match)]. Companies in specialized industries, such as travel, adult entertainment, online gaming, gambling, e-commerce, and credit repair services, are much more likely to be categorized as a high-risk business and be added to one of these lists.
If you’re a business operating in a high-risk category, there are still several options for accepting payments, but you’ll need a high-risk merchant account [[2](https://www.forbes.com/advisor/business/best-high-risk-merchant-account-providers/)]. By choosing a reputable provider, you can start processing payments quickly without the need for expensive merchant services or rates.
To make your search easier, here’s a list of the top high risk merchant account providers [[3](https://www.cardpaymentoptions.com/credit-card-processing/best-high-risk/)]:
- PayPal’s Working Capital
- Square’s Cash App Merchant Account
- Shopify Payments
- E-Commerce Merchant Services
- HighRisk Gateways
- Durango Merchant Services
It’s important to check the terms and conditions for each provider before signing on to ensure that their services will work for your business. Some providers may only allow certain types of transactions, while others will require higher fees or additional paperwork.
If you’re a business owner, it’s important to be familiar with the high risk merchant list. Doing your research to make sure you’re in compliance will help to ensure that you have smooth transactions down the line. So make sure you take a minute to brush up and be sure that you’re up to date with the list.