HIGH-RISK SHOPIFY MERCHANT ACCOUNTS
Shopify is one of the most popular payment processing systems, and low-risk merchants can now use Shopify’s internal payment gateway, Shopify Payments, to accept and manage transactions. However, if you’re a high-risk merchant, you might be denied using Shopify Payments with your high-risk merchant account.
As a high-risk merchant, you’ll need to rely on a third-party payment provider for your Shopify account — which may be the best payment method for Shopify anyway. Keep reading to learn more about what classifies a high-risk merchant account, what Shopify’s payment gateway involves and what to do if Shopify Payments doesn’t support your industry.
WHAT ARE HIGH-RISK MERCHANT ACCOUNTS?
A merchant account enables businesses to accept credit card payments virtually or in person. These accounts are categorized into two types of accounts, low risk and high risk. The latter is for businesses with a higher likelihood of . While some industries are naturally at higher risk than others, businesses can gain high-risk status because of their internal financial history.
