High-Risk Payment Processing

A merchant account is a type of bank account that allows a business to accept and process payments, usually from credit and debit cards. It acts as a middle step between the customer's payment and the business's bank account.

Merchant accounts are typically set up through a payment processor or merchant services provider and are essential for businesses that want to accept non-cash payments—whether in-person, online, or by phone.

Payment processing involves several steps to securely transfer funds from your customer to your business account:

1. The customer makes a payment using a card or using another payment method (online or in-person).
2. The payment is processed through a payment gateway and verified by the payment processor.
3. The funds are temporarily held in the merchant account while the transaction is verified.
4. Once approved, the money is transferred to the business's regular bank account (typically within 1-3 business days).

A payment processor and a merchant account work together but serve different roles in handling card payments. A payment processor is the company that handles the technical side of the transaction. It communicates between the customer's bank, the merchant acquiring bank, and the card networks (like Visa or Mastercard) to authorize and process payments.

A merchant account is a holding account where the money from card transactions is temporarily deposited before it's transferred to your business bank account. In short: The payment processor moves the money, and the merchant account holds the money.

A merchant account and a business bank account are both essential for running a business, but they serve different purposes. A merchant account is used specifically to accept credit and debit card payments from customers. Funds from card transactions are first deposited here before being transferred to your business bank account.

A business bank account is your company's main financial account. It's where you manage business income, expenses, payroll, and transfers—just like a personal checking account, but for business use.

Credit card processing provides a wide range of benefits that can help expand your business and operate more efficiently. One of the biggest advantages is the potential for increased sales. By accepting credit cards, businesses offer customers a convenient and familiar way to pay, which can lead to higher conversion rates and larger average purchases.

Another key benefit is improved cash flow. Credit card payments are processed quickly—often within one to two business days—so businesses receive their funds faster than with checks or invoicing. This steady stream of income makes it easier to manage operating costs and plan for growth.

Credit card processing also adds to customer convenience. Most consumers prefer to pay with payment cards, especially for online purchases or quick in-store transactions. Offering this option enhances the customer experience and encourages repeat business.

Additionally, accepting credit cards boosts your business's credibility. It signals professionalism and reliability, especially when customers see that you support major card brands like Visa and Mastercard. Many shoppers associate card acceptance with trustworthy and established businesses.

Security is another major benefit. Reputable payment processors offer encryption, tokenization, and fraud detection tools that help protect sensitive information during transactions. This added layer of security protects both your customers and your business from fraud and data breaches.

Finally, digital credit card payments simplify record keeping. Transactions are automatically tracked and logged, making it easier to manage your books, monitor cash flow, and do your accounting in preparation for tax season.

Utilizing Zen Payments for your financial transactions also comes with the benefit of being PCI DSS (Payment Card Industry Data Security Standard) compliant. Our credit card processing software helps to ensure your ability to securely process credit cards online or through our point of sale payment terminals.

A merchant gateway, more commonly known as a payment gateway, is technology that securely transmits a customer's payment information from your website, app, or point-of-sale system to the payment processor or acquiring bank. This part of a payment system acts as a bridge between your business and the financial institutions involved in the transaction and is necessary for a business to accept payments.

A business bank account is your company's main financial account. It's where you manage business income, expenses, payroll, and transfers—just like a personal checking account, but for business use.

A merchant gateway is essential for secure online and digital payment processing, and it's a key component of accepting credit cards or digital wallets in e-commerce.

A payment gateway is the technology that securely captures and transmits a customer's payment data (like credit card information) from your website, app, or point-of-sale system to the payment processor. It encrypts data, checks for fraud, and confirms whether the transaction was approved or declined. Think of it as the digital bridge between your business and the payment network that helps to prevent credit card fraud.

The payment processor is the company that moves the transaction data between your business, the customer's bank (issuing bank), and the card networks (like Visa or Mastercard). It handles authorization, settlement, and funding. The processor makes sure the transaction goes through and that the money ends up in the right place.

A merchant account is a specialized bank account where the money from credit and debit card sales is temporarily held before being transferred to your business's main bank account. Without a merchant account, you wouldn't have a place to receive card payments.

Sign up for a merchant account with Zen Payments today to receive access to some of the industry's best built-in payment processing tools, which includes features for sending invoices, subscription billing, and other forms of automation to ensure your revenue keeps flowing. You'll also receive fantastic customer service from our customer support team who is second to none in their commitment to equip you with the ability to collect payments from your customers. Reach out to Zen Payments at any time for help with getting your site set up with payment processing solutions.

Merchant service fees are the costs a business pays to be able to accept credit and debit card payments. These fees are charged by your payment processor, your merchant account provider, and sometimes the card networks like Visa or Mastercard.

The fees usually include a few parts. First, there's an interchange fee, which is often a small percentage of each sale (around 0.5 - 1.8%) plus a flat rate amount (usually between 10 to 30 cents per transaction). The interchange fee is what a merchant's bank pays to the card holder's bank for processing a card transaction.

Transaction fees are what merchants pay. The price of these fees are usually the interchange fee that your merchant services provider pays for plus a markup for the secure and prompt transfer of funds facilitated by the merchant account provider. There may also be monthly fees required to keep the account open or to be able to access certain tools and support.

Additionally, if a customer disputes a charge, you may have to pay a chargeback fee, and there are sometimes PCI compliance fees to make sure your business is following security standards.

Lastly, if you decide to break your contract with your online payment processing company by terminating your merchant account you may be required to pay a termination fee.

Zen Payments offers different rates based on the size and needs of your business. Often the more transaction processing your business requires the better rate you can secure. Keep in mind that if you're a high risk business you may have higher transaction fees due to the increased risk of chargebacks and fraud common in your industry. Never fear as Zen Payments is one of the best high risk payment processors in the industry we can offer you some of the best rates in the industry. Since each business is unique we customize our payment processing fees for each company. Fill out our form today to find out how we can help you save on merchant account fees.

Zen Payments offers a wide array of payment options for your customers including:

• Credit Cards
• Debit Cards
• Direct Debit
• ACH Transfers
• Bank Transfers
• Digital Wallets (Google Pay, Apple Pay, etc.)
• eChecks

Zen Payments offers the ability for your customers to pay over the internet from a desktop, through a mobile app, and in person with our payment gateway services. Zen Payments mobile payment software is designed for easy use on mobile devices for customer satisfaction Whether customers are accessing our mobile payment portal with an ios, android, or other type of device, our mobile interface is designed for an easy user experience and reliable payment processing. We also offer point of sale gateways similar to square readers and other pos terminals that accept credit cards and debit cards. Zen Payments also boasts easy integration with a number of popular websites such as shopify, wordpress, and more.

We work with businesses in all types of industries. Below are a list of some of the industries and types of merchants we frequently work with:

• Accounting
• B2B
• CBD
• Collection Agencies
• Coaching
• Contractors
• Credit Repair
• Cryptocurrency
• Finance (Personal Finance, Corporate Finance, Public Finance)
• Fintech
• Firearms
• Franchises
• Gaming
• HIPAA
• High Volume
• Law Firms
• Marketing
• MLMs
• Non-Profit
• Pharmacies
• Property Management
• Restaurants
• Nutraceuticals
• Online Dating
• Retail
• SEO
• SEM
• Sports Betting
• Subscription
• Tech Support
• Telemedicine
• Travel
• Vape & E-Cigarettes