g. This symbol indicates that your products or services offering is restricted. Processes less than $20,000 monthly. Require a high risk registration. Online transactions are the foundation of every online business. When a skill gaming merchant is tied to this code, it results in tighter geographical restrictions, lower conversion rates, and higher payment processing fees for Visa, Mastercard, and other leading credit card companies. Many banks are now working on plans to help customers restrict their spending on gambling, offering gambling blocking solutions, with some banks allowing customers to 'turn off' payments to certain types of retailer, including. When you begin your payment processing with us,. We accept 98% of all merchants, ranging from big to small businesses. PayKings | 1,049 followers on LinkedIn. According to grandviewresearch, the online gambling market size was quoted at USD 57. A high-risk merchant is a label given to a business by a payment processor. In these additional terms regarding Gaming and Gambling Services, the following capitalised terms. Our innovative SaaS solution empowers your business to efficiently manage your merchant applications and enhance your operations that drive growth. Every transaction is encrypted and easily monitored, whether your customers are making a trade among themselves or making a purchase. Merchants that are compliant with the Visa Rules and operate regulated and licensed trading platforms may continue to transact under MCC 6211—Security Brokers / Dealers. Higher transaction fees: Transaction fees for high risk merchant accounts are not cheap. E-Gaming Merchant Accounts. We can assist with merchant accounts and payment gateways. High-Risk Merchant Accounts face several unique challenges, including: 1. . As discussed in the previous section of this guide, using a third-party payment processor instead of an aggregator offers a range of benefits, including cheaper high-risk. Online gambling; Jewellery; Legal services; If you’re a merchant operating in one of the above industries, chances are high you’ll need to secure the services of a merchant account that specialises in catering to risky businesses. With more than 20 years of industry experience, we specialize in offering. Bogus “gadget” websites are putting merchant acquirers at risk for card network fines and assessments. Chargeback Management Guidelines for Visa Merchants is a comprehensive manual for all businesses that accept Visa transactions. Gaming Solutions. Authenticating users and providing a quality customer experience are vital to prevent fraud and chargeback abuse. Manage Cashflow and Capital Treasury and Risk Management Modernize treasury and optimize the balance sheetJuly 17, 2023. Not all merchants are created equal. 3. Let’s get one thing straight, being considered a high-risk merchant (or what we like to refer to as higher risk) isn’t always a bad thing. If you still have questions regarding what we can do for you, give us a call at 1-888-548-5649 so you can converse with one of our merchant account managers. For our top picks, explore Expert Market’s guide to the best high risk merchant accounts in 2023. These fees are quite high compared to some other providers, but you can be approved for your merchant account in around 48 hours. Get expert assistance from LicensingAid. High-risk merchant fees: Most credit card processors do not approve high-risk merchants for an account, such as those that belong to the gambling industry. By helping with transaction management and fighting online fraud, merchants can reduce the time and money spent on these problems. Yet there are many processors who will charge you fairly for their merchant services. For them, monitoring isn’t an option but a legal obligation. 9% +0. You need to have a way of accepting credit card payments in real-time from your customers all over the world. . A #gambling_merchant_account is a type of account that caters specifically to businesses operating within the online gambling industry. online gambling include the design and use of different risk-management strategies tailored to the different classes of risk that are associated with Internet gambling. What is a high-risk merchant account? A high-risk account is a specialized banking solution for businesses operating in industries deemed high-risk due to legal, financial, or regulatory complexities. If you own a business, you understand the value of having a dependable payment processing solution. The high risk merchant distinction has so many variables to it. What we need to do is look at ways to manage this risk rather than remove it entirely. [email protected] Login; Mid Management; Schedule Consultation;. There are high risk merchant accounts and procedures that high risk businesses can employ in order to manage chargebacks. Supported industries: Firearms, vape shops, real estate, gambling. Its purpose is to facilitate deposits, payments, payouts, and. Receiving a high-risk MCC leads to higher fees and limitations on merchant accounts. With the latest technology, speedy transactions, simpler refunds to players, we can program any relatable comfort for your. Fraudsters use other people’s cards, which may work but incur chargeback fees. Part of the Problem. Fortunately, EMB’s application process is quick and easy. ,An online survey was administered to a sample of GBSs resulting in 64 completed surveys. For them, monitoring isn’t an option but a legal obligation. A merchant is considered high-risk from the viewpoint of a credit card payment processor or acquiring bank. International accounts for online casinos, sportsbooks and skill games Online gambling merchant accounts are a great way for online casinos, sportsbooks and games of skill to maximize. List of High-Risk MCC Codes. According to Statista, the global media and entertainment market is. Instabill: It supports many high-risk businesses except those that. As e-gaming operations are considered high risk they are often rejected by banks and instead owners have to work with a high risk payment processor that is familiar with the gaming industry and already provides gaming merchant services. Studies on identical twins also show that genetic factors may contribute more to the risk of developing gambling disorder than environmental factors (like adverse childhood experiences). The company focuses on providing tailored solutions and features to satisfy businesses’ needs. PaymentCloud, based in Woodland Hills, California, is one of the best merchant service providers you can rely on. Task 1: complete the quick quiz. High-risk merchant accounts attract more stringent conditionalities than regular merchant accounts and are more expensive to manage. This report is based on a survey of MRC and non-MRC merchants from around the globe, who were asked about their eCommerce fraud. io's Merchant Application Management Software as a Service (SaaS) to optimize and simplify your business operations. We are impressed by EveryMatrix’s gaming portfolio and its ability to integrate with our. 000 euros. But as mentioned, online gambling companies and other business entities like eCommerce, subscription-based services, forex, and exchanges also fall under the high-risk category. Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving high risk business types. Each merchant service provider received a rating based on over 50 data points. With an increasing rise in the popularity of online gambling, you may be considering opening a business of your own in the industry. However, the number of High-risk Merchants account providers for online gambling is limited, and it can be difficult to find one that can deliver reliably. MCC. Positive future business projections. Beyond industry risks, this industry sees higher levels of fraud and. For MasterCard and Visa, gambling and gaming merchants are both considered high risk merchants not only due to their potential for fraud and chargebacks, but also due to the legality of the service they provide. They look at many factors, including the ticket size of a typical sales transaction. A high-risk merchant account is often necessary for companies dealing in industries that carry a high potential for fraud and charge backs. But when it comes to high volume eCommerce websites, the risks up, and one can see that succeeding without careful financial management is a pipedream. S. By addressing the unique challenges faced by high-risk merchants, Cricpayz has become a trusted partner, enabling businesses to transact securely and efficiently. If your business sells expensive, high-ticket items, you are most likely in the high-risk category. Meanwhile, eCommerce merchants may encounter termination until they verify their identity and address. Specialized industry focuses: High-risk payment gateways may specialize in providing specific businesses deemed high-risk, such as online gambling, adult entertainment, or medicines. These fees are quite high compared to some other providers, but you can be approved for your merchant account in around 48 hours. . Chargebacks Prevented. Get a secure payment processing solution in as little as 24 hours. That MCC regulates video game establishments and arcades. Online gambling/gaming merchant accounts are very similar to fantasy sports merchant accounts because risk and skill are involved in both. The reason is that these companies get. The hardest part for online casinos is obtaining online gambling merchant accounts for credit card processing. Gaming is booming industry…. Stripe’s prohibited businesses can thrive with the support of a high-risk MSP like GetPayment. Payday loans (check cashing) Mortgage loans and refinancing (check cashing) Money orders. The gaming and gambling industry is considered a high-risk sector for money laundering due to the high volume of financial transactions involved and the potential for anonymity and lack of transparency. Dharma’s processing rate for high-risk businesses is interchange rate + 1. Skill gaming merchants should aim to secure an MCC7994 code. The global gambling market is worth billions of dollars, and with the rise of online gambling, the industry has become even more vulnerable to. The gambling and gaming sectors are classified as high-risk industries. , online casinos, sportsbooks, and lottery providers). Each merchant service provider received a rating based on over 50 data points. services (often. Learn who needs high-risk merchant accounts, what the main differences between high-risk and low-risk merchants are, the benefits of holding an offshore merchant account, and how to open a high-risk merchant account. When selecting a high-risk merchant account for your online gambling business, there are several key factors to consider: Industry Expertise. PayKings is leading the industry of payment processing, especially for high risk merchants. To discuss your payment management needs with one of our expert advisors. Dealers and / or payment providers should always carry out a detailed fraud management. Even US based businesses operating internationally. A high risk merchant poses more of a financial risk to the processing company. With a high average sale amount, the more “risk” there is to the processor in the event of charge backs. 75%, and you’ll also pay around €950 in annual bank fees, a setup fee of €100, and a monthly fee of €20. GBO offers assistance with finding and matching bank account for gambling business, payment processing solutions and merchant accounts specifically tailored for offshore gaming companies. A framework for prudently managing relationships with third-party payment processors was communicated in the FDIC’s 2008 Guidance on Payment Processor Relationships. Current legal and regulatory landscape. 54 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11. The terms of the contract may vary from provider to provider, but at the core of the agreement, they are covering their bases. It means that the KYM procedure involves best practices from both the KYC and KYB procedures to ensure the merchant onboarding process is smooth and efficient. (b) there is a change in our gaming and gambling sector risk policy where we, in our reasonable discretion, determine that our relationship with your business as a gaming and/or gambling sector merchant represents increased risk of loss or liability to us. Stripe. Encryption Support Organizations (ESO) Performs cryptographic key management services to support clients' ATM programs or to deploy Merchant Category Code. Also, if you do business in the EU. The global gambling market is worth billions of dollars, and with the rise of online gambling, the industry has become even more vulnerable to. Continuously establishing the context, identifying, analysing, evaluating and treating risks are the fundaments of risk management. Host Merchant Services: Best for large high-risk businesses. There will always be some level. 805. How High-Risk Merchants Can Navigate the Compliance Maze. For more information, please contact us at 800. states that allow such: New Jersey, Nevada and Delaware. Some degree of friction in the customer experience is necessary to deter online gaming fraud. 9% of total transactions. e-merchants and payment facilitators which provide a good degree of anonymity c. 2. High risk merchant account providers in the UK will consider your application more favorably if you can provide a detailed business plan. The definition of “high-risk” is that there might be loss of money, chances of money laundering, users’ data theft, etc. The main difference between online gambling and casino businesses and other businesses such as brick-and-mortar retail stores is how risky these businesses are to acquirers. Both banks and their regulators have been focusing on the issue of high-risk merchants with differing points of view as to how to deal with them. Increase customer acceptance rates, identify problem gamblers and prevent bonus abuse with multi-channel solutions for fraud and risk management, player authentication, payments and automation. Online Gaming – A Merchant Account for a High Risk Gaming Business | September 2, 2023. A high-risk merchant is a label given to a business by a payment processor. High-risk merchants are generally more susceptible to fraud, insolvency or other liabilities, or connected to an. (2) However, these companies find credit card processing services to be crucial to their. clothes, shoes, kitchenware, food. While merchants are typically corporate entities, they can be natural persons as well. MCC 6211. However, if you operate in a high-risk industry, such as online gambling or adult entertainment, obtaining a merchant account can be challenging. A framework for prudently managing relationships with third-party payment processors was communicated in the FDIC’s 2008 Guidance on Payment Processor Relationships. We accept 98% of all merchants, ranging from big to small businesses. 1. 1. Gambling marketing influences gambling perceptions and interpretations of gambling and minimizes the risks. Factors which increase an account’s risk. With the strengths in placing high-risk businesses, this PaymentCloud brought the high-risk merchants a lot of benefits such as a network of third-party processors. Outbound Telemarketing (card-absent) MCC 5968. As a high risk merchant account provider, oftentimes we receive inquiries from merchants who have been placed on MATCH, the Member Alert To Control High Risk Merchants file (also known as the Terminated Merchants File, or TMF). Minimum registration fee of 500 Euros (Depending on high-risk business type) Rolling reserves of between 5 and 10% withheld for a six month period or more. People could always find things that are new and might be more interesting to them after a while. When a skill gaming merchant is tied to this code, it results in tighter geographical restrictions, lower conversion rates, and higher payment processing fees for Visa, Mastercard, and other leading credit card companies. EPIC Risk Management is a problem gambling awareness and harm minimization organization in the UK and the US. Merchant Category Codes (MCCs) are issued by credit card companies to indicate what goods or services a business offers. Losing money you’ve earned shouldn’t be the cost of doing business. Merchants that present a financial risk to the payment processor are assigned a high-risk MCC. This includes the emotional and mental impact of gambling, such as addiction, anxiety, and depression. Local payment methods. A high-risk merchant account is a business account or merchant account that allows the business to accept online payments though they are considered to be of high risk nature by the banks and credit card processors. Settlement may be weekly. Its dedicated gambling team will work with you to help increase player conversion rates, while tailoring a risk screening process to the unique needs of your business . eMerchant Broker: Best for High Approval Rate. The solution contains a catalogue of video games, financial aggregators, and casino management tools. High Risk Merchant Account LLC 915 Folly Road, Suite 49, Charleston SC 29412. The subsets contain 1-year of customer. Another crucial thing to consider is that not all financial institutions work with offline and online businesses specializing in casinos, betting, gambling, etc. If the. EMB offers merchant account services with low fees, increased savings, and 24/7 customer support. Risk and Compliance Monitor exposure and ensure compliance. But before we dive into the issue, let’s start from the basics and define the payment gateway. WebPays is a complete pack of high-risk payment processing that has all high-risk payment solutions. If Stripe labeled you as a high-risk merchant, below are common reasons why: Offering digital. Stax: Best for avoiding transaction fees. 0 M+. There is no standard definition of what is “higher risk” but some business categories which typically fall into that classification are online gambling, tobacco. 7995 – Betting, including Lottery Tickets, Casino Gaming Chips, Off-Track Betting, Wagers at Race Tracks and games of chance to win prizes of monetary value. The gaming business, also known as online gambling, has over the years become a crucial part of a well-organized and profitable gambling industry. Adult entertainment. 9% this year. You can load balancing by diverting. When checking sources of funds/wealth for casino AML compliance, casinos must analyze whether a player displays behavioral patterns associated with problem gambling. Every industry has its own market leaders when it comes to merchant accounts. Policy Administration and Workflow Automate and streamline operations. A mobile merchant account is a type of payment processing account that allows businesses to accept payments from customers using their mobile devices. 20. Internet businesses with offshore. Navigating Compliance Challenges. High-risk merchants are often associated with businesses that have a high level of exposure to lawsuits, other legal actions, fraud, chargebacks and higher transaction sizes. Continuously establishing the context, identifying, analysing, evaluating and treating risks are the fundaments of risk management. This will ultimately make it harder for a merchant to apply for a high risk merchant account, given their negative credit history. A comprehensive 360-degree dispute and chargeback management solutions for merchants and payment processors. General characteristics of a low risk merchant account. MCC 6211. EMB also helps many high-risk and new merchants who were rejected by other processors. G2 analysts have seen a recent increase in illegal gambling sites laundering their transactions. In today's competitive business landscape, offering customers multiple payment options is crucial. Verified by Visa is the card network-branded deployment of 3-D Secure technology. Increase customer acceptance rates, identify problem gamblers and prevent bonus abuse with multi-channel solutions for fraud and risk management, player authentication, payments and automation. 95% for every transaction compared to 0. It acts as legal permission to accept credit card payments online. Venmo is a great cash-swapping app, and you could even ask customers to use Venmo for payments. Those serious about acquiring gambling merchants need to take it seriously. Different high-risk businesses have different MCCs that match their products or services; for example, online gambling has an MCC of 7995, while adult entertainment has an MCC of 5967. A high-risk merchant account operates as a specialized business account for high-risk businesses. Casinos and gambling providers who have a loyalty program or CMS tracking gambling. This includes identification, investigation, and enforcement activities related to. Our TMF or MATCH list merchant accounts allow you to get back to receiving credit card and eCheck payments - without exorbitant fees or excessive scrutiny. Some common types of high-risk industries include: Adult entertainment. Easy Pay Direct specializes in high-risk industries and has experience working with gaming businesses . Warning signs of fraudulent sites. marketing to locals in joint campaigns with local. November 14, 2021. PayPal prohibits the following activities, even where the specific activity is lawful and/or isn’t legally defined as gambling, unless the transactions are associated with an approved merchant. The first is because it brings together elements of risk inherent in gambling, but also in excessive social media use. Those serious about acquiring gambling merchants need to take it seriously. Acquiring gambling merchants is not something any acquirer can dabble with in the corner of their portfolio. The company’s products and services for gambling businesses include multiple currency support, offshore banking partners, an online payment gateway, shopping cart integration, and fraud protection. • The Gambling Commission is consulting on whether it should ask gambling merchants to carry out affordability checks to assess whether consumers can afford. ; 1 The Merchant of Venice is one of Shakespeare’s plays in which gambling features most prominently. Derivatives merchants – watch out for opportunities. Additionally, a business owner who has bad credit, an unsatisfactory credit card processing history, low cash flow levels or higher sales volumes may be viewed as a high. They accept 160 major currencies and most major credit cards. In simple terms, high-risk businesses are merchants who are perceived to be at a greater risk of financial. you can look for a merchant service provider that allows high-risk merchants, but expect to. However, that processing fee can inflate to well over 1. Verified by Visa (VbV) is an advanced security feature from Visa that helps authenticate purchasers as authorized cardholders. Posted May 1, 2023. Higher fees: Due to the increased risk, banks and payment processors often charge higher fees for these accounts. Psychological Risk: In addition to financial risk, online gaming also comes with a certain level of psychological risk. Since its inception in 2020, Cricpayz has emerged as a pioneering payment solution provider, catering to high-risk merchants in India. But when it comes to high volume eCommerce websites, the risks up, and one can see that succeeding without careful financial management is a pipedream. Online gambling websites must obtain a reliable credit card processing solution for their business to thrive. Thanks in no small part to the pandemic driven lockdowns of 2021, the gambling and gaming sectors experienced a boom in business as consumers flocked to betting platforms and online casinos. Outbound Telemarketing (card-absent) MCC 5968. net Or call 888-5-PAYNET today. A high-risk industry is defined by its likelihood to introduce more operational, regulatory, and reputational risk exposure. 5967 – Direct Marketing – Inbound Teleservices Merchant. (IP) Violations Illegal or Miscoded Gambling Online Sale of Tobacco Products Rogue Cyberlocker Merchants Prohibited Adult Content 4. Lottery, betting and gambling. Credit card companies (VISA, Mastercard, etc. “High-risk” merchant accounts cater to businesses that are typically considered more prone to financial risk by banks and payment processors, including. 5 Financial. An acquirer makes money by offering merchant accounts to businesses, allowing them to accept credit cards. You may use it for online and brick-and-mortar companies to handle all debit, credit, and prepaid card transactions. American Express considers a business more likely to have a high chargeback ratio to be a “high-risk merchant. An offshore merchant account is a type of bank account specifically designed for businesses outside their home country. Best for online and international sellers: Durango Merchant Services. Higher risk products typically provide players with the opportunity for fast-paced, repetitive and chance-based games which are available 24 hours a day. PayPal prohibits the following activities, even where the specific activity is lawful and/or isn’t legally defined as gambling, unless the transactions are associated with an approved merchant. Based in Lindon, Utah, National Processing is a high risk merchant account provider that is capable of serving international gambling merchants. Self-exclusion fraud: offering players the opportunity to mark themselves as problem gamblers is a legal requirement. That simplifies online transactions in a variety of currencies. Paydoo: It supports merchants in cryptocurrency, travel and hospitality, forex, binary, gaming, ecommerce, and most other high-risk ventures. When your business has been labeled a high-risk merchant account, you will almost always pay higher. There has been a sudden surge in alternate payment methods,. An online gambling merchant account is specifically used for vendors that operate in the high-risk industry of gambling. HighRiskPay. Continuously establishing the context, identifying, analysing, evaluating and treating risks are the fundaments of risk. Host Merchant Services: Best for Interchange-Plus Pricing. 1. Gspay. 2 Merchant Risk 10 Questionable or Unsound Business Practices High-Brand Risk Merchants Sellers Involved in Fraud or Illicit Activity 4. International businesses selling their services and products within the US. High-risk merchant category refers to the industries or types of businesses considered to have a higher level of risk by financial institutions, payment processors, and acquiring banks. CCBill. Online Payments, A high-risk merchant account is a payment processing account for businesses with an increased risk of chargebacks. Cybersource, 2021 Global Fraud Report. With specialization and years of experience in working with all types of high-risk merchants, we give you the best experience. Many gambling payment processors tend to charge unusual fees from the merchants coming from this particular industry. One key area where they differ is their willingness to accept risk. With Instabill, that’s a thing of the past. Banks and payment processors. PaySpacelv is a Riga-registered PSP. With this article we describe the transaction log file and provide two filtered subsets of the data. This refers to both pay ins and payouts. These can all be flags for a high risk merchant account. As a merchant A business that accepts credit cards for goods or services. By offering alternative payment options, casinos can cater to the diverse preferences of their players and provide a seamless deposit and withdrawal experience. With G2 MCC Check you can. Though getting a gambling merchant account is a challenge, it is not out of the question. How To Apply For A High Risk Merchant Account. Getting the best high-risk merchant account is the most significant requirement for your business to start taking online payments. Credit card associations have set up rules dictating merchants in specific high-risk MCC codes to pre-register with these associations to ensure monitoring of risks. In response, researchers and operators have worked with big data to develop risk-identification models to identify indicators of problem. Membership or subscription-based. A merchant is considered high-risk from the viewpoint of a credit card payment processor or acquiring bank. Learn about online gaming merchant accounts, top high risk payment processors, and expert tips to keep your igaming business running smoothly. The company has an excellent reputation for honesty, fair rates, and great customer service. Additionally, you will receive a detailed fee schedule for all your transactions. Payment Gateways: Secure Solutions for Your Business. We aim to take the problem out of. If your merchant is switching things up, you need to know about it. The process is easy, so you can focus on more important things. 8 minutes. Manage Cashflow and Capital. Typical reasons for this label is that your account is considered to be at a higher risk of fraud, chargebacks, or a high number of returns. Navigating the challenges of high-risk merchant accounts can be daunting for business owners, but partnering with a provider like Axcess Merchant Services can make the process more manageable. Financial institutions typically screen merchants through the MATCH list to verify whether they have a history of poor business activities or have ever had their ability to process payments revoked. 01332 477 85301274 649 89301274 649 89501274 649. August 6, 2021. 50% + $0. 300+ payment providers . Finding the right merchant account can be a challenge for online gambling companies. Some of them are:. High-integrity Risk Financial Trading Platforms (card-absent) MCC 5966. As long as your business has a monthly processing volume of at least $50,000 per month, we can help you get. Last updated or reviewed on June 21, 2023. Businesses operating in financially risky industries, such as the gambling, adult entertainment, cannabis, and international shipping industries, may be prone to high chargeback rates and labeled as high-risk businesses by card processors and financial. Certain sorts of organisations and sectors are typically deemed high-risk by banking institutions when applying for a merchant account. The main reason these credit policies differ is due to the processor’s ability to. net is a payment gateway company that provides payment processing options for businesses, especially small and independently-owned businesses. Best for businesses that want a wide variety of terminals and POS systems. PayPal is especially strict with these services due to state regulations on gambling. This is a mistake. e. 7995 – Betting, including Lottery Tickets, Casino Gaming Chips, Off-Track Betting, Wagers at Race Tracks and games of chance to win prizes of monetary value. 6. eMerchant Authority’s Online Gaming Merchant Options. Payment industry professionals that represented organizations such as, the US Food and Drug Administration (FDA), National Association of Boards of. Gamblers Anonymous offers 12-step support meetings for people with a gambling problem, while Gam-Anon offers support for the problem gambler's family members. net payment gateway. Risk management in gambling can prevent unbudgeted expenses and the loss of reputation, fight against cyber-attacks and money laundering. Many companies consider this to be having a merchant account. Integration. This designation may. Opt for a high-risk merchant account that deploys robust fraud detection and prevention mechanisms, including real-time monitoring, identity verification, and effective chargeback management to reduce your own risk. Gaming Solutions. Insurers – beware. The risk factor involved in gambling merchant accounts is high, as a lot of money is at risk in this business. advocate and industry-leading provider of managed-risk merchant A business that accepts credit cards for goods or services. High-Integrity Risk Merchant Tier. The company has a positive reputation for transparent customer service and reliable support. Bogus “gadget” websites are putting merchant acquirers at risk for card network fines and assessments. Large Average Ticket Size. 4 Transaction Laundering 14 4. Gambling and fantasy sports fall under this umbrella. So, If you are planning on operating an online casino or gaming platform, accepting credit cards online is a must. Merchant Category Code. It is vital to make sure all other aspects of your business are beyond reproach. Managing High-Risk Merchants. Most online casino payment gateways make it attainable to receive payments by credit/debit card, cryptocurrency, digital wallets, and net banking. Onboarding. A high-risk merchant account is a specific type of payment processing account that is required for certain businesses. However, firearms merchants are also classified as high-risk and obtaining an online firearms merchant account is extremely difficult. SGC has addressed this risk by adopting a proactive system. Stripe. A high-risk merchant account is a label your payment processor has given your business.