High-Risk Processor has been in business since 1995, carrying with it decades of experience in payment processing. It has an extensive network of over 25 partners in the fields of domestic banking, offshore banking, card processing, check processing, and ACH processing. This allows it to cater to businesses with different payment methods. The company’s services are available to all types of industries.
For more information on High-Risk Processor, below is a complete review of its merchant account services and rates.
As evident in its company name, High-Risk Processor specializes in high-risk merchants. It provides these businesses with high-risk merchant accounts for their credit card processing needs. It also provides solutions for ACH and checks payments. Businesses can open multiple merchant accounts with no volume limits.
Application is quick and seamless. A form is available online, after which the company will customize services and rates for your business needs. The approval process usually takes three to four days. However, submitting a form will not obligate you to continue with the company. You can simply request a proposal before making your decision.
Below is a list of High-Risk Processor’s services, as seen on its website.
High-Risk Processor allows merchants to accept credit card payments from major networks, such as:
The company also allows merchants to accept check payments from their customers via phone or online. The Automated Clearing House (ACH) network streamlines the entire billing process. That said, merchants can expect funding from check payments within 48 hours.
High-Risk Processor provides merchants with the necessary software and terminals needed to process payments. As mentioned on its FAQ page, merchants can either rent or buy them from the company. This is worth noting, as some competitors offer these for free. The payment technology offered includes:
For eCommerce businesses, the above-mentioned payment methods will be integrated into your shopping cart through the company’s E-Processing Network. However, there is no mention of which shopping carts are compatible with the company’s system. Instead, it asks merchants to directly contact them to find out.
High-Risk Processor offers international merchant accounts to businesses operating globally. They can accept payments in over 160 currencies, including USD, Euros, British pounds, and more.
The company gives merchants the option to include 3D secure processing. This ensures the safe and secure processing of credit card transactions. It is particularly helpful for high-risk merchants prone to fraudulent activities.
Bounced checks are a common occurrence among businesses, especially those in high-risk industries. As a solution, High Risk Processor provides check recovery services. Merchants can recover payments from bounced checks up to six months old. The company will handle the entire processing, which saves merchants from the hassle of calling up customers.
The company provides 24/7 customer service for merchants. You may reach out for technical issues, payment questions, and the like.
High-Risk Processor does not mention its pricing scheme online, similar to many other high-risk merchant account companies. It prefers to provide customized rates depending on the merchant’s business type and needs. However, it goes on to mention its promise of cost-effective and competitive rates.
As mentioned on its website, High-Risk Processor is open to working with many high-risk industries, including the following.
In addition to the specific industries mentioned above, High-Risk Processor encourages other high-risk industries to seek its services, as it has a 99% approval rate. It mentions the following general categories that are often considered high-risk by traditional banks and processors.
High-Risk Processor offers limited information on its topline services for merchants. However, it does highlight specific solutions for the following industries.
The company offers special high-risk merchant accounts for tobacco companies. This includes credit card and checks processing services that are compliant with NACHA guidelines. Multi-currency payments are accepted as well. Low rates and fast funding are guaranteed.
Merchant accounts are available for businesses selling online apparel like clothing, footwear, accessories, jewelry, and bags. The company will set up a system to accept credit cards and check payments through a website, phone, or mail. This service extends to international customers paying in different currencies.
Apart from the usual merchant services offered above, High-Risk Processor highlights real-time transactions as a benefit for credit repair companies. It also mentions a virtual terminal for multiple users to accept phone and mail payments.
High-Risk Processor offers recurring billing schemes for subscription businesses. The company has a partnership with NMI payment gateway, which allows merchants to process payments based on a scheduled collection. Moreover, it offers chargeback prevention tools to protect the merchant in such cases.
The company claims to have a long track record with companies in the adult industry. They can avail of the payment processing services mentioned above. However, the company does not work with businesses offering adult themes like incest, bestiality, child pornography, hypnosis, and violence.
These are just some of the many dedicated merchant accounts High-Risk Processor offers. For a more detailed list of services per industry, you can visit the website.
High-Risk Processor does not have any rating from Google or other independent review sites. Its website does not include merchant testimonials either. That said, its main source of credibility is its 25 years of experience in the industry.
High-Risk Processor aims to help all types of industries with their payment processing needs. Although it is backed by decades of experience, its website contains limited information on the exact services it offers. It is best to contact the company directly to discuss how it can help your business.
