If your business lies in the “high-risk” category, you may struggle to find a reliable high-risk merchant account . But who confirms that a business comes in the high-risk category? And what parameters confirm the risk? In this blog, we’ll help you to understand all this and many more things. So, you can find the right payment processor for your business requirements. What is a High-risk Merchant Account? Businesses that are labeled as high-risk will require a high-risk merchant account to receive debit/credit card payments. A high-risk business has a high ratio of chargebacks or frauds and some other characteristics. But there is no central authority in the payments industry that analyzes the risk parameters associated with a business. Whereas, every bank and high-risk payment processor has its parameters. Some payment processors mention upfront that they don’t cater to some industries. Others will hardly observe detailed information about a business to a certain risk, and
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