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How Does A High-Risk Merchant Account Offer Convenient & Easy Payment Processing Solutions to Merchants?

Purchase habits are changing, and as a result, the payments industry is undergoing massive changes. Digital payments were in their infancy ten years ago.

A high-risk merchant account has more value and traction today. This puts merchants into the responsibility to make their transactions securer and safer.

Today, cash usage has declined, and the COVID-19 pandemic demonstrated that electronic payments are more convenient, faster, and, in some cases, the only option.

Consumers spent 861.12 billion dollars with US merchants in 2020. Whether your company is brand new or has been in operation for decades, it must accept as many forms of payment as possible.

Cryptocurrencies, PayPal, Apple Pay, and Amazon Pay, are some of the more popular alternatives to traditional payment methods. Making sure customers can pay with their preferred method keeps them in your store and away from competitors.

Furthermore, an online store component is essential even if your company has traditionally been brick-and-mortar focused. PayCly will make online payment processing possible for your business.

How A High-Risk Merchant Account Is A Fruitful Solution For Merchants?

Users for high-risk merchant account in the United States saw a 44 per cent increase in sales in 2020. And that figure is expected to rise again in 2021.

image for doing business with a high-risk merchant account

One appealing aspect of eCommerce businesses is that they start with little capital. And become highly profitable in a short time.

eCommerce merchants may be necessitating the use of a high-risk merchant account.

This may come as a surprise at first, as you may not consider an online business to be high-risk. There are a few reasons why eCommerce is a high-risk venture. And we will look into these reasons in details later.

You must have an eCommerce merchant account to accept credit cards as payment for your online businesses. eCommerce merchants will continue to grow exponentially in the coming years as online shopping becomes more popular and convenient.

Working with a payment processing provider can greatly benefit your eCommerce business because you will require dependable payment processing solutions and secure platforms.

How To Apply For A High-Risk Merchant Account With Paycly?

Filling out an application and speaking with the payment service provider you want to partner with is all it takes to apply for payment processing solutions.

image for doing merchant business

When you apply for and are pre-approved for a high-risk merchant account with PayCly, you will be assigned an account manager who understands your business.

We strive to make the process as simple as possible and will answer any questions you may have about your account at any time. We will determine the status of your eCommerce merchant account and whether you qualify for a high-risk or low-risk merchant account.

You will need the following when applying for a high-risk merchant account:

  • Incorporation certificate
  • Certificate of ownership
  • History of processing for six months
  • Financial and business history/records
  • A copy of the driver’s licence/passport and a utility bill from someone who owns 15% or more of the company
  • A fully compliant website
  • Cancelled or void cheques/proof of bank accounts
  • Volume per month
  • The average ticket cost

Prior credit card processing history, including chargeback/fraud performance, can help you determine which type of account you require and which solutions are best for your business.

The more information you provide us when applying for your payment processing account, the faster the process will be. Our goal is to have your account running and accept payments as soon as possible, usually within 24 hours.

Our High-Risk Payment Processing Solutions approves eCommerce merchant accounts in 24-72 hours.

  • Possible waiver in the application fees.
  • Possible waiver in the setup fees.
  • Possible waiver in the annual fees.
  • Risk reduction with order insight and our partner product, as well as traditional chargeback alerts
  • Increasing approval ratios
  • Low-risk rates start at $99 per month and $.05 per transaction, while high-risk rates begin at a blended 2.95 per cent.

How Can Paycly Be Beneficial If You Are A High-Risk Business?

PayCly understands how important digital payments are to the success of eCommerce businesses. Successful online businesses must provide a variety of secure payment options.

image for ecommerce business with high-risk merchant account and digital payments

PayCly offers highly competitive rates and exceptional payment processing solutions whether you are new to the business world and want to start processing payments or are an established eCommerce merchant.

Businesses can accept payments using a merchant account. A PayCly account ensures transparency and top-tier security/processing solutions for your company.

At PayCly, we strongly advise comparing the rates and services of various payment service providers to ensure you make the best decision for your eCommerce business.

Not all payment processors are created equal, and it is in the merchant’s best interest to ensure they have found the right fit.

PayCly has a PCI-Level one secure payment gateway that is constantly monitored and tested for optimal security.


Consumers are becoming more reliant on online shopping platforms, and a recent study predicts that by 2040, 95 per cent of all purchases will be made online.

Ecommerce offers limitless opportunities for businesses, especially as we continue to shift away from traditional brick-and-mortar retailing and toward online shopping.

Payment solutions that are both quick and secure are essential for online businesses. Furthermore, eCommerce businesses must track their transactions and issue refunds to customers as soon as possible.

If your High-Risk merchant account has been pre-approved, no technical skills are required for integration. Our eCommerce payment gateway supports a full payment system, including recurring billing. PayCly makes integration as simple as possible by using an API.

What do you think?

Written by shipi j


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