High-Risk Merchant Account
If you’re looking to add more payment options for your European customers, you’ve probably come across a variety of payment services and products that could drive your business growth. While you want to start with a well-serviced merchant account, not every European merchant acquiring bank and merchant account service provider might be willing to accept you as a merchant due to the high risks inherent to the nature of your business.
Don’t fret, you’ve come to the right place – high-risk businesses have a bigger chance of getting a merchant account in Europe compared to non-European countries and our team is more than happy to support you in this journey.
For now, read on to learn about the reasons a merchant might be labelled as high-risk, which merchant account service providers are prepared to offer and maintain a high-risk merchant account and how to open one.
Merchant account service providers and merchant account acquiring banks regularly evaluate the level of risks pertaining to new and existing merchants. If your business currently falls within the category of high-risk or low-risk merchants, you should note that in the future the risk status can change if your business evolves (e.g. expands and starts accepting international payments).
If the risk increases, you can be required to take appropriate action (e.g. to set a reserve of funds or provide more information). Your merchant account might be closed if your provider doesn’t cater to high-risk merchants or if the risk associated with your business is too high.