What are some reputable 'high risk' merchant account providers? [closed]

I am in the planning process of starting my own travel agency business. I periodically will have to charge client's credit cards for hotel upgrades, flight class upgrades, taxes etc. I thought I would be able to use Chase bank's paymentech / orbital system, but they do not offer payment processing for travel businesses. Does anyone have recommendations or use a particular company?

P.S. I do not anticipate processing many payments the first year as it will take time to build up clientele.

Best Answer

Paypal.

They accept travel related businesses, offer functionality to accept cards in person (swipe devices), virtual terminal to process phone orders and an API to handle website transactions. Transferring funds from your Paypal account to your bank account is fairly quick. And they have a debit card which can be used to pay hotels and such, rather than always wiring payments. They are also good at assisting with disputing questionable chargebacks.

We have used them for a number of years now without incident (though I am sure some horror stories will appear shortly in the comments ;-)

Of course now that I answered, this question may well be closed, as it doesn't really fall into the guidelines of TSE.

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Quick Answer about "What are some reputable 'high risk' merchant account providers? [closed]"

The Best High-Risk Merchant Accounts of 2022.
PaymentCloud.
Host Merchant Services.
Durango Merchant Services.
SMB Global.
Soar Payments.
Forbes Advisor Ratings.
Methodology.

What is considered a high-risk merchant account?

Merchants may be considered high-risk if they have a high volume of transactions or have a high average transaction rate. If a merchant processes over $20,000 in payments per month, or has an average transaction of $500 or more, they may be classified as high-risk.

Why was my merchant account closed?

Too many chargebacks is likely the most common reason for account closure. You should always aim to keep your chargeback rate below 1 percent if possible. We have many blog posts about chargebacks, what they are and how to avoid them, but if you are struggling with chargebacks, we invite you to contact us.

How do I get a high-risk merchant account?

To get a high-risk merchant account, you need to fill out an application online. Of course, to accept card payments you also need to find a reliable high-risk payment processor. The process of applying for a high-risk merchant account is short and simple.

What companies are high-risk?

What Is A High-Risk Business? A high-risk business is one that card processors and banks consider likely to financially fail. Credit card processors and financial institutions designate a business as high-risk if it operates in a financially risky industry that's prone to high chargeback rates.

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