Looking for high risk business processing? You’ve come to the right place. As a processor that works with a lot of merchants that have been labeled “high risk”, we have a solid reputation for helping businesses like yours limit chargebacks and stop fraud in its tracks. You may be wondering, however, why it is that you need high risk business processing. Allow us to explain.
Why You May Need High Risk Business Processing
You’re in an industry that faces a lot of chargebacks.
A merchant account may be labeled “high risk” if your business is in an industry that experiences a high amount of chargebacks or fraud. Some of these industries include tech support, credit repair, and travel.
Your products and services require a lot of legal regulation.
Many high risk processing merchants have to go through a legal process to run their business; most notably, businesses in the industry categories of medical marijuana, gun sales, or eCigs. These industries require a lot of paperwork that must be completed to verify the business’s legitimacy to sell their products and services so that it is clear that they are operating their business in a safe and legal manner.
You have a history of bad credit.
It’s not impossible to run a business if you have a history of bad credit, but it does make you a candidate for high risk processing. The payments industry needs to be completely sure that boarding your business won’t hurt the banks, but, over time, if your credit score improves, it is possible to lose the label of “high risk”.
Remember: if you’ve been labeled “high risk”, it doesn’t mean your business is on a bad track. Payline wants all merchants to succeed in their business and we offer you the tools to help you thrive. If you need high risk processing and you’re feeling overwhelmed, contact Payline today to get you on the right track for running your business.It is important to note we do not board high-risk merchants onto our Wells Fargo platform.