adult payment processor are needed to accept and process payments made using credit cards issued by companies like Visa and Mastercard. Financial services providers that offer merchant accounts to other businesses can be held responsible for how their clients use those assets.
A merchant account provider whose clients regularly post fraudulent payments or become the targets of chargebacks can have its own access to the payment card networks revoked. As
stripe merchant account , most make an effort to work only with the businesses they deem to be the least risky.
There are also some companies, though, that specialize in providing merchant accounts and related services to businesses which might not normally qualify. High Risk Merchant Accounts can be extremely useful, but typically come with some downsides, as well.
google payments merchant account for Companies Engaged in Supposedly Risky Types of Business
Just what counts as a high-risk client varies a fair amount from one merchant account provider to the next. Some financial services companies are more open-minded than others and will allow a wider range of businesses to open merchant accounts.
In practice, though, there are also some general kinds of businesses that almost always need to make use of high risk merchant accounts, instead. Some of those that most often fall into this group today are:
Vape shops. E-cigarettes that allow for the "vaping" of nicotine-laden liquids are both popular and generally legal for adults to buy, possess, and use. Many financial institutions, however, have taken a standoffish stance with regard to the industry and viewing vaping equipment retailers, by default, with suspicion. As a result, many refuse outright to open merchant accounts for vape shops, regardless of the particular details. In many cases today, only by looking for a provider who specifically serves high-risk clients will a vaping equipment supplier become able to accept credit card payments.
CBD sellers. The substance cannabidiol, or CBD, is minimally psychoactive and mostly considered legal to posses and use. Since CBD is derived from cannabis, though, many financial services companies have remained reluctant to deal with clients that sell it. Once again, CBD retailers often find that only merchant account providers who approve high-risk businesses will work with them, in general.
Many More Types of Businesses Can Benefit From High-Risk Options
Most vaping retailers, CBD sellers, and other types of putatively high-risk businesses actually strive to do everything by the rules. Although it can be more difficult for such a company to open a merchant account, there are now plenty of options worth considering.