Apply For A Merchant Account

Making the choice between an aggregate vs a high risk merchant account comes down to one important factor, the industry your business operates in. If you are in a vertical listed below, it’s likely aggregate providers will drop your account even if they approve it initially. Here are some key high risk verticals to help you distinguish which provider to choose: 

• Adult – Any company in the adult space has age regulations and may even have unique forms of two way payment such as rewarding streamers for their entertainment. If you run an adult site like Onlyfans, you’ll need a payment processor that is experienced in the space. 
• Bad Credit – If you have bad credit or run a credit repair service, then there’s an inherent risk for banks. It may be the case that customer’s struggle to make payments or chargebacks occur at higher rates. Custom payment processing is your choice for a sustainable merchant account.
• CBD – CBD, hemp, Delta blends or any alternative products such as Kratom all need high risk payment processors to accept credit cards through an ecommerce shop.
• Firearms – Needless to say there is some risk for big-named brands to associate themselves with firearm sales. They don’t want to undertake a reputational risk and diminish their value. As such high risk processors cater to this vertical 
• Nutraceuticals – Ingestibles, vitamins, supplements and any type of weight loss or growth enhancers are all in a unique place because they fall outside of FDA regulations. Be sure not to make medical claims about your product and ask your merchant account provider about the terminology that the banking entity approves of.