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The #1 High Risk Payment Processor

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.

“High Risk” is an industry term, and it’s important to note that there are many fantastic businesses which would be given this designation by a bank or credit card processor. While there are unique factors that go into how the industry views any business, in general there are three big factors for the “high risk” designation:

  1. The business may have greater chargeback risks due to the nature of processing or industry. Typically any business with a chargeback ratio of over 1% enters a “high risk” category.
  2. The business may operate in unique, new, or legally regulated industries which fewer processing banks want to underwrite. Uncertainty creates risk for banks, and so if the industry is very new, or has developing regulation, this designation will typically apply.
  3. The business may accept a high percentage of transactions over the phone or via mail which is considered higher risk than in person transactions. If the card and cardholder are not present with the merchant at the time of the transaction, the risk of fraud is greater. As such, this can cause businesses primarily accepting payments this way to be considered in a higher risk category.

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Retail Payments

Retail businesses can choose from a traditional credit card terminal, wireless, or point of sale system. Whatever you choose, our retail merchant accounts will have you accepting credit and debit cards faster, and for less.

Mobile Payments

Want “on the go” mid or high risk credit card processing? Our mobile pay options are for you. Choose between iPad or mobile phone credit card swipers, compatible with both iPhone and Android devices.

Virtual Terminal Payments

Accepting payments over the phone, mail or typed in on your laptop  is easy with our virtual terminal merchant accounts.  No equipment needed. Just log in to your virtual terminal, and type in the customer’s credit card.

Virtual Terminal Payments

Accepting payments over the phone, mail or typed in on your laptop  is easy with our virtual terminal merchant accounts.  No equipment needed. Just log in to your virtual terminal, and type in the customer’s credit card.

The Payments & Fintech Podcast

The latest happenings in the worlds of payments and fintech impact all kinds of businesses and industries. If you want to offer your customers the best experience around payments, or just want to learn about financial services that could help your business… PayPod: The Payments And Fintech Podcast has you covered!

Each episode, you’ll hear an interview directly with a leader from the payments and fintech industries. We talk with fintech entrepreneurs, security experts, mobile developers, eCommerce pros, and more…

From credit card processing to bitcoin… from retail POS systems to cutting edge digital payments tech… merchant accounts and mobile checkout… we cover it all!