High Risk Merchant Accounts | Soar Payments Online Application

The #1 High Risk Payment Processor

An Overview

High Risk Merchant Accounts

Many businesses selling products or services need to be able to accept payments from customers through non-cash methods such as credit cards, ACH, and eCheck. A merchant account is necessary for these types of methods.

Unfortunately, some banks and credit card processors consider certain businesses and industries to be “high risk”, and are unwilling to provide them with merchant services.

Fortunately, Soar Payments has consistently offered high risk merchant account services to businesses across many industries since our company founding. We value the services and products sold by all types of companies, and can offer merchant accounts without the terminations or payout freezes that have can affect high risk merchants with companies like PayPal, Square, Stripe or Intuit Quickbooks.

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Frequently Asked Questions

Here are common questions specific to high risk merchant accounts:

Want more information? Click here to read our extended list of our FAQ.

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Types Of High Risk Merchant Accounts

Soar Payments offers a full-spectrum of merchant accounts to businesses that are considered high risk by banks and credit card processors. These include:

Retail Payments

A retail merchant account allows your company to accept face-to-face credit and debit transactions via a traditional credit card machine or point of sale system.

This type of merchant account best suited for a traditional storefront retail setting with a reliable wired internet connection. Retail credit card processing has the lowest cost, because of its lower risk of fraud or chargebacks.

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Mobile Payments

A mobile merchant account enables your business to accept face-to-face payments via an attachment that plus into your mobile phone, iPhone, or iPad.

Ideal for merchants who sell outside a traditional storefront, such as those retailers who sell at conventions, outdoor events, or even in home visits. This type does not require a wired internet connection. Mobile merchant accounts are typically priced similarly to retail as the rates of fraud and chargebacks are relatively low.

Virtual Terminal Payments

Commonly called a payment gateway merchant account, a virtual terminal allows you to accept payments over the phone, via mail order, or typed into a special website via your computer (without any outside equipment).

High risk payment gateway accounts are best suited for businesses who primarily want to accept orders over the phone. Due to increased risk of fraud and chargebacks, Soar Pay offers fraud protection technology to protect the business with these accounts.

eCommerce Payments

Want to sell your products or services online? You’ll need an eCommerce merchant account with an integrated payment gateway.

Our high risk eCommerce merchant accounts integrate with most major shopping cart and payment gateway platforms, making setup on your website simple. Due to the increased risk of fraud and chargebacks on eCommerce sales, Soar Payments offers integrated fraud protection technology.

The Payments & Fintech Podcast : Industry Spotlight

Combating Chargeback Fraud with Ron Hynes

Chargeback fraud, and Card Not Present (CNP) fraud present ongoing challenges for many merchants, particularly those in eCommerce or industries considered “high risk” by processors and banks. In fact, greater chargeback fraud challenges is why some banks consider certain industries to be high-risk.

On this podcast episode we take a look at how to combat chargeback fraud with the help of our guest Ron Hynes, CEO of Vesta.

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Our podcast explores the fast-changing world of payments and fintech through interviews with thought leaders around the world. From credit card processing to bitcoin, and digital banks to finance software… we cover it all!