Although the Internet opens the doors for every type of online business, when it comes to getting approved for a merchant account, it’s not always a walk in the park. A merchant selling online must have a merchant account to process credit cards and other methods of payment. Many ecommerce payment processors have lists of industries and businesses that they generally will not service and refer to these applicants as “High Risk” merchants.
So what do you do if you are considered a “High Risk” Merchant having trouble getting approved by a payment processor? Today we’ll go deeper into what qualifies as a high risk merchant and how these online businesses can get approved for an account and start selling online!
Who is considered a “high risk” merchant?
The following reasons are why a business may fall under high risk classification:
- Businesses that are not registered with local regulatory agencies
- Companies that sell products considered to be high risk: downloadable software, e-cigarettes, gaming, ticketing, health related, etc.
- Businesses that are susceptible to fraud including small companies with very low sales that are unable to afford fraud screen tools
What’s the best payment solution for high risk merchants?
Thanks to Alliance Processing, PrestaShop merchants that fall under the high risk classification can now start accepting payments on their online store. As an experienced leader in high risk global merchant transaction, Alliance Processing offers unique processing relationships that merchants would not be able to access by going directly to the bank.
Some of the key benefits of working with Alliance Processing:
- Same day/highest approval rates
- Placement of high risk merchants
- Free payment gateway
- In-house customer support
- Onshore and offshore solutions
- Accepts secure payments worldwide for all major credit cards and ACH/e-checks
- Free module available native in your software or on PrestaShop’s Official Marketplace
Alliance Processing is recognized in the industry for being an affordable merchant solution for online businesses. To top it off, if you sign up with Alliance Processing you’ll receive a $75 credit towards your first statement!
Take advantage of a processor that truly understands high risk processing today!