Any business dealing online must have a merchant account to accept payment, typically by debit or credit cards. These accounts are allotted between a bank and a payment facility company, also known as a payment processor.
High risk merchant account
Every bank and merchant provider will look at an applicant’s nature of business and evaluate the risk of charge backs. Certain businesses that have a potentially higher risk of fraud and frequent charge back incidents are often rejected by standard merchant providers. Merchants may then opt for having a high risk merchant account.
Some industries that may require high risk merchant services

• Adult industries, e.g. dating, gaming
• Travel and vacation
• Pharmacy
• Multilevel marketing
• Credit repair
• healthcare programs e.g. nutrition products, diet programs
• E-cigarette
• Collection agency
• Offshore business
• Computer software
• Advertising services
• Forex

What other factors categorize a business as high risk?

• New start-up with a fresh credit record, so it is hard for merchant providers to evaluate the risk.
• Unprofitable business, an ability to continue the business is a big concern.
• Over-expectations with low financial resources, e.g. application to process $5,000,000 of payments with only $50,000 in the bank.

How can AwePay help?
We believe high risk businesses also deserve a fair chance to accept payment online. Our merchant account specialists are familiar with the rules and standard processing procedures, and can help your business properly present an application to the bank for approval.