High Risk

Best High Risk Credit Card Processing Companies 2022

Best high risk credit card processing companies for the year 2022
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Josh Phelps
October 25, 2022


Finding the best high risk credit card processing companies is no simple task. With multiple companies offering different benefits and prices, it can be difficult to choose one that’s a perfect fit for your business. In this article we discuss what makes the top company for each business vertical, and which features they come with.

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Best Credit Card Processor For High Risk

If you are in a high risk vertical, you’ll need a credit card processor with experience in your industry. Each payment processor has their own specialties, and for some that means boarding accounts where others cannot. Industries like adult, CBD, and nutraceutical payment processing can have a difficult time selecting the best payment provider.

Maintaining an open merchant account is everything when it comes to choosing a processor that will work for you. Some processing companies will approve your file, but shut it down later if it violates their Terms and Conditions. For example, if you sell adult products on Shopify, they don’t allow you to use their Shopify Payments platform. If you are able to sign up, they can drop you while your ecommerce store is open for business. This can result in lost revenue and poor brand loyalty.

Lowest Fee Payment Processing Company

If you want to get the lowest fees possible from your payment processing company, you’ll have to have significant processing volume. In other words, the more money you make in revenue, the lower you can negotiate your rate. This is because payment processors want to hedge risk for each account, and your company’s risk decreases with time and transaction volume.

The older your company is the more likely you can reduce your processing fees . If you have been with your payment processor for multiple years, then be sure to leverage that relationship to your benefit. As a merchant, your goal should be more sales and greater profit margins. Getting the lowest fee for your merchant account is essential to your financial growth.

Top Credit Card Processing Features

  1. Fast Onboarding – Some companies have instant approvals that can expedite the account process. Others have underwriting processes that are more specific. Work with a company that can get you approved quickly so you don’t have to wait around for banks to review your application.
  2. Customer Service – A quality customer service department can make an immense difference in your experience. They can assist you with any difficulties you may experience and even give you tips on how to keep your payment processing in good standing with your provider.
  3. Payment Gateway – A payment gateway is the tool that runs the transactions on your website. For brick-and-mortar business, you may recognize this as your payment terminal. Each gateway is equipped with its own technology and provides a different user experience. Find one that’s easy to use and made for your type of business.
  4. Additional Tools – From fraud prevention to fighting chargebacks. Every good payment processing has the ability to connect you to the resources that will help your business.

Best Rates for High Risk Processing

If you’re paying for high risk processing, you know the rates come with a premium. This is because of the added risks involved on the bank’s end that gets charged back to the merchant. Nonetheless, there is no baseline rate or standard fee. Moreover, all rates for any company you use are negotiable.

The rate you’re paying depends on the type of company you’re running and how much you make. A startup in CBD that may only process $5,000 a month in transactions will likely pay more fees than a large travel company who processes $1,000,000 a month. Be sure to talk with your representative and learn what fees you will be charged for the business you have. It’s best to compare companies and bring quotes to the table for comparison.

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Josh Phelps is an experienced sales professional with eight years of expertise, including four years in payment processing. Throughout his career, Josh has successfully secured approvals for thousands of businesses, demonstrating his skill in navigating and optimizing the payment processing landscape.


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