A WooCommerce high risk payment gateway is a payment processing tool for ecommerce merchants in the high risk space. If you sell items such as cbd, adult products, or firearms, the custom WooCommerce gateway allows them to accept credit card transactions online.
The high risk gateway installs on the backend of your site as a seamless integration. The difficulty is finding one that works within your unique vertical. Many types of websites are deemed high risk because they offer adult products or other mature items like firearms or smoking accessories.
WooCommerce comes equipped with many options for accepting credit card payments. However, many of the large payment providers don’t allow you to sell certain types of products using their payment gateway. Be sure to read the Terms and Conditions of each processing option they offer.
WooCommerce Payments is their in-house payment provider. Like Shopify Payments for example, they extended their platform tools to include a credit card processor they can manage. This allows them to monitor and have full control of transactions on your website. The benefit is that you can get quickly approved, however, you risk getting shut down if they audit your high risk store.
Like many other payment processors, WooCommerce underwrites your merchant account according to their standards. Even if they approve you immediately, they may close your account later on if it’s inconsistent with their regulations. For example, they look towards high risk payment partners to onboard CBD product sites. But what other types of businesses are considered high risk?
Take a look at the list below to find out the types of industries that WooCommerce labels high risk. If you run a business in one of these verticals, be sure to reach out to a payment gateway provider who can get you approved:
WooCommerce works with a number of reputable payment processors like Stripe, Paypal, Square and others. Each of them have their own payment gateway and online checkout interface which exchanges funds after purchases. A business owner can shop for the payment gateway they want by going to WooCommerces payment gateways extension page for online payments.
It’s important to note that the top credit card processors for WooCommerce are not high risk merchant account providers. Also known as aggregate merchant accounts, these companies pool payments together in order to hedge risk. This allows them to instantly approve a high risk merchant account, but unfortunately they can close it later on after they audit your websites.
WooCommerce is a shopping cart platform that helps new companies easily build websites. Like Shopify, WooCommerce comes with a full-spectrum of tools and features to help new business owners create their online store. From creating product pages to checking out of your cart with a merchant account integration, WooCommerce has it all.