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When choosing a high-risk merchant account provider, there are several factors to take into consideration. The pricing, the contracts, the customer support, and of course the company specialisation. All of these come into play when selecting the appropriate high-risk payment provider for your business.
We have eased this process for you, and looking into the various fields, narrowed it down to the top 5 high-risk merchant account providers of 2020.
1. IpayTotal
With almost 200 reviews on Trustpilot, and an average rating of 4.4 out of 5, IpayTotal graces our list with ease. This UK-based company will assist you in creating your high-risk merchant account, providing you with customised solutions for your credit card processing.
What you can look forward to:
- Accepts businesses that many high-risk providers would turn down
- Free terminal, no setup fees for many types of business and impressive fees for high-risk accounts
2. lnstabill
A well-known and reliable company, lnstabill has a reputation of really looking after their customers. They have been in the business for well over 15 years and has a client base that all seem very satisfied with their services. They offer merchant services for E-commerce businesses, POS businesses, and mobile businesses.
What you can look forward to:
- Tailored service packages for different types of high-risk businesses: adult, ecommerce startups, gambling, travel merchants, etc.
- Generally approves even the riskiest of businesses.
- Good reputation among its customers, low number of complaints.
3. Octapay
Specialising in Cryptocurrency, Forex trading and Online gaming and casinos, Octapay are the leaders in these high-risk sectors. If your company belongs to one of these industries, we sincerely suggest you have a look at them. With great reviews from existing clients, they look to have a bright future ahead.
What you can look forward to:
- Fair pricing and contract terms
- Dedicated customer service and personal account manager
- Fast underwriting and application process
4. Pay Kings
Paykings are high-risk merchant account specialists, and even the riskiest ventures can usually get an account set up with this popular company. They also boast pre-approval in as little as 6 hours. Although Ts&Cs apply, this is certainly boast-worthy
What you can look forward to:
- Placement of non-traditional merchants
- Speedy approval time
- Good customer support
5. Payment Cloud
In business since 2010, Payment Cloud has a great standing in the high-risk payment processing industry. The very high acceptance rate for their high-risk clients is one of the reasons that Payment Cloud has a growing band of partners able to speak to their top-notch service offerings.
What you can look forward to:
- No account setup fee
- Free credit card terminal
With all of these great companies out there, your choice should be that much simpler. And remember, get quotes and be comfortable with your payment provider. They are, after all, your financial connection to your clients.
