Finding a PSP for high-risk businesses is a hard task. View our list of the best solutions
Financial institutions divide industries into low-risk and high-risk ones. They estimate which ones are more likely to fail. For example, industries like alcohol, adult content and gambling are usually considered high risk because they’re subject to regulations that frequently change. However, other industries that depend on technology development such as cryptocurrencies, media, apps, etc. might be seen as risky too because revenue isn’t always guaranteed.
Finding a PSP for those businesses is a hard task. We prepared a list of the top payment service providers for the high-risk enterprises for all those concerned.
10 best PSPs for high-risks
- Ikajo International. This global payment processor with 16+ years of professional experience operates in more than 150 countries. Ikajo offers a fully integrated payment platform for e-commerce, flexible solutions to Forex brokers, a sustainable growth foundation for cryptocurrency merchants, hybrid payment models suitable for cross-platform merchants, tailor-made payment solutions for data-hosting companies, alternative payment methods for retailers, a multi-platform payment infrastructure for the gaming industry, dispute management, fraud protection solutions, and many more. Its payment gateway is also a backbone to numerous external payment service providers and ISOs.
- iPayTotal works with Forex, gaming, CBD, bitcoin, replica, online pharmacy, and travel merchants. The company can assist you in creating a high-risk merchant account or an IBAN account and guide you through banking underwriting procedures during the onboarding process. Their online payment gateway is an independent cloud payment platform for PSP /ISO and merchants. The platform is PCI DSS Level 1 certified. iPayTotal also offers the offshore company incorporation services, prepaid cards, processing crypto transactions, reporting tools, and integrated real-time fraud prevention system.
- PaySpacelv. This Riga-registered PSP offers three different integration options including HPP, API, and MoTo to satisfy high-risk business needs. The company works with cryptocurrency, dating, skill games, nutraceuticals, forex, PC support, essay, hosting, astrology, gambling, VPN, marketing services, and advertising merchants. The clients can keep track of real-time sales volume and business performance with a detailed customizable reporting system. Automated recurring billing, Virtual Terminal for MoTo transactions, and intelligent payment routing facilitate frictionless transaction flow and fast payouts. Chargeback and fraud prevention software is built-in.
- PayKings. The PSP provides low to high-risk merchant accounts for B2B, eCommerce or retail. Their offshore merchant account services offer multi-currency acceptance, cross-border acquiring, and placement of non-traditional merchants. PayKings works with adult, vape & e-cigarettes, dating, pawnshops, travel, firearms, nutraceuticals, debt collection merchants. It partners with iSpyFraud for fraud & chargeback prevention.
- PaymentCloud, headquartered in California, specializes in placing high-risk businesses, relying on a network of third-party processors and acquiring banks to get you approved for an account. For retail merchants, it provides a free-to-use EMV-compliant terminal and a free virtual terminal in package with each account. PaymentCloud offers Authorize.Net as its payment gateway, although its system is compatible with other third-party gateways as well. the industries supported include Adult, Airlines & Jet Charters, Bad Credit, Bail Bonds, Cigars & Tobacco, Debt Consolidation, Diet Programs, Document Preparation, Educational Seminars, Electronic Cigarette/Vape, Electronics, Firearms, Moving & Transport, MLM & Biz Ops, Nutraceutical, Online Ecommerce, Software & E-books, Saas, Tech Support and many more.
- Durango Merchant Services has an excellent reputation for honesty, fair rates, and great customer service and support. Durango supports eCommerce through its proprietary Durango Pay gateway which also features an Authorize.Net emulator. For mPOS, Durango offers the iProcess app (which can be used with both iOS and Android devices) as well as EMV-compliant Bluetooth readers. The company works with a variety of third-party processors, hence, their rates and fees will vary tremendously, depending on which processor Durango sets you up with.
- RISK Payments. They offer an aggressive merchant acceptance policy, personalized industry consultation, flexible merchant account solutions – domestic or offshore – and can reduce liability to yield greater rewards. The company works with collections, nutrition supplements, travel & tours, direct selling, online pharmacy, telemedicine, and merchants from other industries. RISK Payments dedicate great attention to omnichannel solutions, personal assistance, and anti-fraud protocols. The company is a DBA of PPI, a registered ISO of Wells Fargo Bank, N.A., Concord, CA and a registered ISO/MSP of Esquire Bank, Garden City, NY.
- Host Merchant Services may not specialize exclusively in high-risk accounts, but its website lists several high-risk business categories including Adult, Life Coaching, Electronic cigarettes, Gambling and casinos, Modeling agencies, Vitamin and supplement sales, etc. It uses TSYS as its back-end processor while offering interchange-plus-only pricing and a full range of products and services. Therefore, many businesses trust HMS with their payment processing. Along with third-party gateways and solutions, the company has developed a range of proprietary products. Their payment gateway called Transaction Express features a free virtual terminal and supports additional services, such as tokenization or encryption of customer data, ACH services/recurrent billing, check imaging, wireless processing, batch processing, and multi-location networking. HMS proprietary POS system optimized for the hospitality industry is called Bonsai. Bonsai was designed to compete with upmarket POS systems, incorporating a high degree of support, customization, and automation but at a lower cost.
- Twispay is a financial institution that offers online payment processing and acquiring services governed and regulated by European law enforced by the National Bank of Romania. It provides an extended array of payment module integrations for e-commerce platforms, travel, gambling & betting, crypto exchange merchants. It operates in the European Economic Area (aka EEA) and Switzerland and is PCI DSS Level 1 compliant. Their convenient transaction dashboard gives you a complete overview of all important performance indicators. The checkout is highly-customized. The corporate state-of-the-art Fraud Monitoring and Alert System employs fraud detection algorithms, 24/7 monitoring and other tools such as smart scoring, automatic thresholds and blacklisting.
- Soar Payments offers a small selection of terminals, the MaxxPay POS system and the MaxxPay Mini wireless terminal for retail merchants. The company is mostly focused on eCommerce services. To complement the Authorize.Net and USAePay gateways, it also offers the NMI payment gateway, which can integrate with most of the more popular online shopping carts. The gateway also integrates with ChargebackArmour, which is an automated chargeback prevention and response program that will be particularly appealing to high-risk merchants. When you submit your application, you’ll get an instant price quote to DocuSign without tiresome offline paperwork, faxes, and waiting. The company specializes in mid- and high-risk merchants from industries such as Fantasy Sports, Firearms & Ammunition, Precious Metals, Vape / eCig / eJuice, etc.