About Robert Tomar
High Risk Merchant Solutions, a merchant account provider, specializes in high-risk transactions. This company can process all major credit cards including MasterCard and Visa. Although its website doesn’t disclose the exact rates. The rates are dependent on the type and processing history of the business.
High-risk industries include those that are regulated by government agencies. These include adult entertainment, nutraceuticals and firearms. These include online dating websites and debt collectors. These merchants have never been able to open a merchant account at a traditional bank, or any other payment processing company. These merchant accounts are offered by a number of high-risk providers, which are designed to help these types of businesses.
Some payment processing companies might refuse to provide services to certain business types due to their business model, payment history or personal financial information. Your customers may turn to the competition if this happens. It is important to work with a company that specializes in high-risk accounts. These services are available to all types of merchants from online retailers to those in regulated industries.
These companies charge higher fees for high-risk merchants than the average merchant. They might also need to have cash reserves. High-risk merchants may have to be ready to pay more for transaction and processing fees than usual. High-risk merchants should be honest and open with their financial institution.