The GBO team will be happy to assist you to open your business bank account throughout our wide network of banks, payment processors and financial institutions

 

High Risk Merchant Account – With a merchant account the account holder receives a bundle of payment processing services including the necessary hardware and software for accepting card transactions. When a customer makes an online purchase from the merchant’s website – the payment gateway facilitates the accepting of the payment details and fraud checks – the funds arrive in the merchant account and when the payment is approved by the payment gateway they are sent to the merchant’s business bank account at an acquiring bank. Merchants have no control over a merchant account, it is simply a holding place for funds until the transaction is approved.

Please contact us for opening merchant account in Europe

WhatsApp or Telegram us: +972504938469, email us: [email protected]

     

    High Risk Merchant Account Providers

    There are no strong guidelines for categorizing which account providers offer better services than their competition. The nature of the market is highly specialized, so that the offering is geared specifically towards the type of activity that is being offered by the customer. Although all are treated as high risk by the conventional banking services, there are in fact many differences between them and most of the merchant account providers we list below have specialized their offerings toward just a few sectors of the broader market.

     

    It’s also important to distinguish between high-risk companies and high-risk activities. High risk companies are ones that have a bad credit history, or perhaps have not been in business for long enough to have established sufficient history of good banking practice. Such companies are labeled by banks as high risk regardless of the type of business that they engage in. On the other hand, some types of business activities are labeled by the banks as high risk, even though the operating company may be sound, well managed and stable. These activities typically disturb the smooth automatic flow of transaction processing by the banks and so they cost the banks more that the fees they can collect. Examples are “high volume – low value” where hundreds of thousands of transactions have to be processed every hour or day, but the money value is very low, so that the fees the banks are collecting (based on value, not volume) are too small to justify the strain. Another example would be a service that generates too many cancellations and recalls (such as airline bookings), which may require some manual effort in order to credit the funds back into the purchaser’s credit card or bank account, additional customer complaints and enquiries etc.

    When choosing a good high risk merchant account provider, take into account whether they are familiar with the type of business you run, so that you can negotiate for appropriate fee levels.

     

    When assessing the degree of safety and reliability of the account providers listed below, we have tried to take into account as many relevant factors as possible, such as the age of the company, the range of services offered, any information we can gather about reliability and stability. However, we do not in any way endorse these companies or the offered services.

    Best high risk merchant account in Europe

    Intergiro

    Headquarters in the Sweden, Stockholm

    Provides for: card acquiring services for all sized businesses in the EEA region. With a unique bundled package that includes a merchant account and business account, Intergiro provides faster settlements, and quick access to working capital.

     

    Caters for: gambling, gaming (both online gaming merchant accounts and online gaming payment gateways); cryptocurrency (enables cryptocurrency exchanges to accept payments on their websites through credit and debit cards. eCommerce card processing, international wire transfers and debit cards.

     

    Competitive advantages claimed: same day settlements, instant spending with your debit card, unified platform to manage both merchant and business account, high acceptance rate, and fast onboarding

    ccNetPay

    Located in UK

     

    Provides for: UK and EU merchants requiring payment gateways to accept credit card payments through their websites or through Virtual Terminal. Retail & Mainstream; eCommerce; High Volume Merchants; Mail Order / Phone Order; Domestic & International Sales; Subscription Based & Multi-Currency Sales

     

    Caters for: adult (digital content, downloads, subscriptions, escort, webcam, chat & dating); Gaming (gambling, online casino, sportsbook/betting, bingo, lottery & clubs, games of skill); Herbal (nutraceuticals, diet pills, vitamins, fitness & food supplements);

     

    Competitive advantages claimed: Located in UK means no Brexit issues.

    iPayTotal

    Headquarters in the UK, with operations in United States and Estonia

     

    Provides for: customized solutions for credit card processing.

     

    Caters for: forex; gaming (both online gaming merchant accounts and online gaming payment gateways); cryptocurrency (enables cryptocurrency exchanges and traders to accept payments on their websites through credit and debit cards. Caters for for crypto exchanges, ICOs and wallets.); adult content. offers virtual bank account Europe for online businesses.

     

    Competitive advantages claimed: Located in UK means no Brexit issues;
    Developed its own white-label gateway solution with advanced payment technologies.
    Has established relationships with international banking institutions to provide IBAN and SWIFT banking solutions.

    PurePay

    Located in London UK; Stockholm, Sweden

     

    Provides for: credit card transactions for small businesses in UK and EU, multiple payment gateways for recurring payments, payment links and buttons, hosted payment and server-to-server

     

    Caters for: CBD processing, MPOS and POS processing, cryptocurrency processing, eCommerce processing.

     

    Competitive advantages claimed: Located in UK means no Brexit issues.

    EUPaymentz

    Offices located in Serbia

    Provides for: Gaming, forex, cryptocurrency, prepaid cards, bank wires

     

    Caters for: forex, gaming, cryptocurrency, dating, medical marijuana, pharmacy, replica, prepaid debit- cards, money & wire transfer

    High Risk Pay

    Located for business mainly in USA and Canada

    Provides for: range of international and offshore merchant accounts.

     

    Caters for: eCommerce, travel, eCigarette, startups and adult sectors.

     

    Competitive advantages claimed: BBB rating A+, CPO rating A
    Operating since 1997.

    EU Payments

    Located in Serbia.

     

    Provides for: gaming merchant, forex, cryptocurrency, dating, medical marijuana, pharmacy and replica merchant accounts; international wire transfers and prepaid debit cards.

    European Merchant Accounts

    Located in Riga, Latvia and Milan, Italy since 2015.

     

    Provides for: credit card transactions.

     

    Caters for: online gambling (Poker, Casino, Lottery); Online financial services (Loans, Debt services, forex, Binary Options); Adult entertainment; Online alcohol and tobacco shops; Online booking services (concerts/events, travels, hotels); Luxury (jewelry, fashion, beauty, watches); Affiliate marketing; Multilevel marketing (MLM) and Startups

    International Bank Services (IBS)

    Competitive advantages claimed: BBB and CPO rating A+

    Headquartered in UK (London) since 2011.

     

    Provides for: merchants in UK, Russia, Germany, France, Italy, Spain, Ukraine, Poland, Romania, Netherlands, Belgium, Greece, Sweden, Austria, Switzerland, Norway and Ireland

     

    Caters for: online pharmacies, gaming and casino websites, sports books, electronic money, imitation products, bio-technology.

     

    Competitive advantages claimed: Offers some advantage for UK companies since it has no complications coming from Brexit.

    Host Merchant Services

    Located in USA with European services.

     

    Provides for: eCommerce business for offshore and international merchant accounts. Partners with a range of offshore acquiring banks.

     

    Caters for: High risk and high volume merchant accounts, lenient business legislation.

     

    Services include: Debt collection, adult novelties/ toys, E-cigarettes, E-Liquid, airlines, loan modification, some travel & timeshares, gambling and casinos, modeling agencies, pawn & vape shops, real estate, SEO services, vitamin and supplement sales

    MerchACT

    Headquarters in US, offering Europe-wide merchant account services

     

    Provides for: secure payment gateway, simple API integration for major platforms, and flexible underwriting and risk management with relationships with numerous merchant banks.

     

    Caters for: dating sites, health supplements and airline booking.

     

    Competitive advantages claimed: Working for almost 15 years, specializing in card-not-present industry

    RISK Payments

    US based high-risk payment processor that offers flexible solutions for payment processing for high risk, high volume or hard to board merchants.

     

    Competitive advantages claimed: No application, setup, cancellation or early termination fees; Low rates for high risk processing;
    Fraud protection and transaction monitoring;
    Round the world bank relationships;
    Multiple global currencies accepted.

    PayKings

    International payment provider located in Russia, for the high risk industries providing B2B solutions for e-commerce companies, online retail businesses, and high-risk companies.

     

    Competitive advantages claimed: Complies with PCI DSS certification for high-level of data security.

     

    Caters for MOTO transactions; Level 1, Level 2, Level 3 credit cards processing methods determined by information required to process transaction;
    Recurring payments;
    Chargebacks management.

    iPayTotal

    UK based company that caters for high-risk merchants.

     

    Specializes in credit-card setup.

     

    Competitive advantages claimed: Provides international payment gateway, an international merchant account, a high-risk payment solutions, subscription accounts for gaming business, a pharmacy and travel merchant account, or setting up of an offshore merchant account;
    Is not a Payment Processing Company.

     

    Acts as sales partner for multiple national and international payment processing companies and acquiring banks;
    Located in UK means no Brexit issues;
    Assists merchants in finding payment solutions and setting businesses up to accept all major credit cards and alternative payments.

    Authorize.net

    Allows merchants to accept credit card payments on the site using checks and contactless methods.

     

    Competitive advantages claimed: Advanced fraud detection and prevention with customizable parameters including IP tracking, verification of transaction data, blacklisting of scammers, etc.

     

    Full-scale fraud and chargeback prevention tools like advanced anti-fraud solutions, unique system to predict and decrease chargebacks and fraudulent activities, uses third-party services and signals for more precise results across the system and professional case-to-case dispute management;
    A “buy” button allowing submission of an order that can be configured manually or use ready-made code;
    Customers can be invoiced by email, set up mailings and receive automatic notifications;
    Customers can customize recurring payments and connect the service of automatic updating of customer bank card data;
    Integration is possible using API, Hosted Payment Page, Virtual Terminal and plugins for all popular CMS.

    PaySpacelv

    Latvia registered PSP that focuses on providing tailored solutions and features

     

    Competitive advantages claimed: Compliant with PCI DSS level 1 certification and assists merchants to become compliant with the standard;
    Offers both 3D and non-3D-secure transactions;
    Can help company with the registration and account opening processes;
    Offers a wide range of payment methods, including all major credit card brands worldwide, a number of alternative payment methods and global payment processing and automated billing solutions.

    Twispay

    Bucharest-based payment provider that specializes in high-risk businesses.

     

    Competitive advantages claimed: Instant Payments through Payment Links;
    Set of tools enabling start of processing payments immediately;
    Secure payment gateway powered by a API, easy to integrate and developer friendly;
    PCI DSS compliant platform connecting to payment providers or acquirers throughout Europe;
    User friendly transaction dashboard giving a complete overview of all important performance indicators;
    Real-time view over data – number of orders/transactions/live revenue monitoring;
    Allows for customization and templating;
    Certified by the National Bank of Romania;
    Governed and regulated by European law enforced by the National Bank;
    Principal member of Mastercard.

    PaySpace

    Working for more than 10 years offering all types of payment processing features. Suitable for medium to large businesses, startups and companies that are looking for a high risk payment provider.

     

    Competitive advantages claimed: Smart recurring billing;
    Has up to 90% of chargeback cases resolved in merchants’ favor;
    Withdrawals can be made on a card of any bank in the world;
    Chargeback and fraud prevention solutions
    advanced reports and notifications;
    Multiple alternative payment methods allowing customers to choose;
    Dynamic currency conversion including bitcoin.

    Payssion

    International payment service provider, founded in 2013.

     

    Competitive advantages claimed: No chargeback risks when using alternative payment methods;
    Covers over 200 local payment methods;
    Multicurrency;
    Withdrawal any time via bank transfer;
    Mobile and SMS payments

    PayOp

    Works for various business types. Offers payment processing services in more than 170 countries. Operating since 2016.

     

    Competitive advantages claimed: PCI DSS level 1 compliant;
    Preinstalled fraud prevention software;
    Multiple payment methods;
    Withdrawal via PayPal, Qiwi, SEPA transfer, bank transfers, Visa/Mastercard, wallets, SWIFT, ACH;
    Able to accept payments for businesses that do not have a website;
    Can be connected within one business day using API, Hosted Payment Page, Server to Server;
    Currency conversion in real time.

    Securion

    Located in three main offices: in Switzerland, Spain and Poland.

     

    Caters for: B2B recurring products/services and subscription-based shopping; eCommerce products; educational courses; High-Risk (online gaming, travel, booking and tickets, dating, adult content, regulated forex, regulated online casinos, high risk merchant banks.

     

    Excludes: Outbound-telemarketing, multi-level marketing money transfer, drugs and related, alcohol products, tobacco products, health & wellness products, eCigarettes, nutraceuticals.

     

    Competitive advantages claimed: Experience in payments, FinTech, AdTech and IT.

    High Risk Merchant Account:

    All online businesses need a merchant account in order to accept online card payments. If banks refuse to give them a regular merchant account, then the company can apply for a high risk merchant account. High risk merchant accounts perform the same function as a regular merchant account but because the bank is taking a higher risk they impose higher fees and charges as well as stricter contract conditions. With high risk merchant accounts, the bank may use risk management strategies like a rolling reserve, to protect the bank and the merchant from potential losses.

     

    Offshore High Risk Merchant Account Providers

    An offshore merchant bank account is one established for eCommerce companies in a non-resident country. Internet businesses with offshore merchant accounts can process payments made on their websites. Many ecommerce businesses, particularly those in high risk industries, find it difficult to open a merchant bank account in their country of residence. European banks tend to be conservative and apprehensive about opening accounts for internet businesses which often cannot produce the necessary documentation or proof of transaction history. The European banks inevitably label internet companies in certain high risk industries as high risk companies and are not interested in giving them an account. This can leave companies with no choice but to open an offshore merchant account. Offshore banks tend to be more lenient and discrete about accounts transferring funds across the globe. Offshore merchant accounts also enjoy the low tax in offshore jurisdictions. Ecommerce companies that often opt for offshore merchant accounts include gaming sites, electronic cash, travel website, biotechnology, adult entertainment, sportsbooks and online drugstores.

     

    A high risk merchant account is a type of payment processing service that is designed for businesses that are considered to be at a higher risk for credit card chargebacks, fraud, or other financial issues. These businesses may include online gambling, adult entertainment, multi-level marketing, pharmaceuticals, and other industries that are considered high risk due to the nature of their products or services.

    There are a number of merchant account providers that specialize in providing high risk merchant accounts to businesses that may have difficulty obtaining traditional merchant services. These providers typically charge higher fees and may have stricter underwriting requirements compared to traditional merchant account providers. However, they can also provide valuable support and assistance to businesses that are struggling to find payment processing solutions due to their high risk status.

    Some examples of high risk merchant account providers include Durango Merchant Services, EMB, and High Risk Solutions. It’s important to carefully research and compare different providers to find the one that best meets your business’s needs and budget.

     

    For businesses that are deemed to be high risk for a variety of reasons, such as having a high number of chargebacks, operating in a high risk industry, or having a bad credit history, a high risk merchant account is a type of credit card processing account is reserved. Online gambling, adult entertainment, timeshare resale, and travel agencies are a few examples of high risk sectors that could be taken into account for high risk merchant accounts in Europe. Other elements that could be taken into account when deciding if a company is high risk include its size, credit history, and the kinds of goods or services it provides.

     

    Which companies or industries considered to be high risk?

    Several different elements can affect whether a business or sector is regarded as high risk. The following are some of the more typical ones:

    1. High number of chargebacks: A high percentage of chargebacks, or cases when a client rejects a charge on their credit card and requests a refund, may be a sign that the business is more vulnerable to fraud or other financial hazards.
    2. Working in a high risk industry: Due to the nature of the goods or services they provide, the potential for fraud, or other financial concerns, several industries are deemed high risk by banks and other financial institutions. The resale of timeshares, adult entertainment, and internet gambling are a few examples of high risk sectors.
    3. Poor credit history: Financial institutions may view a company with a poor credit history as a higher risk due to the likelihood that it would default on loans or other financial obligations.
    4. High ticket items: Due to the possibility of fraud or chargebacks, businesses that sell high price items, such as luxury goods or expensive technology, may be thought of as carrying a higher risk.
    5. New or startup companies: Due to their lack of experience and potential for financial instability, new or startup companies may be viewed as carrying a higher risk.
    6. Business operations abroad: Due to the increased complexity and risk of fraud, companies that offer goods or services to clients in different countries may be deemed to be at higher risk.
    7. Gaming and gambling industries.

     

    How high risk payment gateway works?

    A sort of online payment processing service called a high risk payment gateway is created expressly to manage transactions from high risk merchants. Similar to other payment gateways, these ones enable retailers to take credit cards and other forms of electronic payment from their clients.

     

    The payment gateway handles a transaction when a customer makes a purchase on a merchant’s website and gets in touch with the customer’s bank to confirm the payment. The funds are sent from the customer’s account to the merchant’s account, less any fees or charges, if the payment is approved.

     

    A high risk payment gateway differs significantly from a standard payment gateway in that it is frequently more expensive due to the higher risk of fraud or chargebacks. High risk payment gateways could also have more stringent underwriting standards and ask for more information or paperwork from merchants in order to set up their accounts.

     

    What are the best merchant account providers in Europe?

    In Europe, there are numerous different merchant account providers who supply businesses with a variety of credit card processing and other payment services. Among the most well-known suppliers are:

    • Worldpay: Worldpay is a global provider of payment processing services. It provides a number of payment options, such as point-of-sale systems, e-commerce solutions, and credit card processing.
    • Adyen: Adyen is a provider of payment solutions, including point-of-sale systems, mobile payments, and credit card processing.
    • Stripe: Stripe is an online payment processing business that provides a variety of payment services, such as processing credit cards, accepting payments via mobile devices, and issuing invoices.
    • PayPal: PayPal is a well-known online payment processing business that provides a variety of payment services, such as processing credit cards, accepting payments via mobile devices, and issuing invoices.
    • Sage Pay: Sage Pay is a provider of payment processing services, including credit card processing, e-commerce solutions, and point-of-sale systems.
    • To select the one that best satisfies the requirements of your company, it is crucial to investigate and contrast several merchant account providers. When selecting a supplier, you should take into account elements like costs, client satisfaction, and the kinds of payment services provided.

     

    Due to the higher risks involved in processing payments for high risk firms, high risk merchant account providers may demand higher fees. Chargebacks are more likely to occur with high risk organizations, and these can be expensive for the merchant account provider. High risk firms can also need more compliance and fraud protection measures, which could raise the fees for the merchant account provider. In order to provide services to a high risk firm, the merchant account provider may need to assume additional financial risk, which could result in higher fees.

     

    Depending on a number of variables, including the type of business, the volume of transactions, and the degree of risk involved, the fees charged by merchant account providers can vary significantly. The following are some typical fees that merchant account providers may impose:

    1. Account setup costs: These are upfront costs associated with opening a new merchant account.
    2. Fees on a monthly basis: Many merchant account providers impose a fee on a monthly basis.
    3. Every time a consumer uses their credit or debit card to make a purchase, transaction fees are levied.
    4. Fees for processing chargebacks: If a consumer demands a refund after contesting a charge, the merchant account provider may levied a fee.
    5. Fees for fraud protection: In order to help stop illegal transactions, some merchant account providers may charge extra fees for fraud protection services.
    6. In order to locate the most affordable solution for your company, it’s critical to thoroughly evaluate the costs that a merchant account provider is charging and take into account how they compare to the prices charged by other providers.

    Do you Need a High Risk Merchant Account in Europe?

    If you have tried to open a European merchant account or take on a payment gateway for your online business and been rejected, then a high risk merchant account could be your answer. Most banks and payments providers today tend to reject new online businesses in high risk industries. These merchant account providers don’t want to take on new clients just to find that money comes into the company’s account and straight out again through chargebacks or refunds. This could put them in danger of penalties from their regulators and could even lead to the loss of their banking license.

    Is there Such a Thing as a Guaranteed Business Bank Accounts for High Risk Businesses?

    There are no guaranteed business bank accounts for businesses involved in high risk activities. It is not so simple t open business bank account to gaming company. The parameters that determine whether a business is considered high risk plus KYC and AML procedures may make it impossible for a business to find a bank willing to accept them as a customer. It is at the bank’s discretion and banks cannot divulge a customer’s risk assessment to the customer. With no guaranteed business bank account high risk businesses will often find offshore merchant accounts more easily obtained.

    Best High Risk Merchant Bank Accounts in Europe for eCommerce?

    Lucky for high risk internet companies there are excellent banks and financial institutions that provide high risk merchant accounts as well as payment gateways, payment processors, EMIs and merchant banks that are accustomed to working with high risk online companies. However, this comes with high rates and fees and stringent contract conditions. Some banks target high risk businesses that are desperate to be approved for a merchant account and deliberately offer them a high risk merchant account at exorbitant fees and conditions. This makes it difficult to find the right financial service provider for your company. Although it may take you longer to find the right high risk merchant account providers and you will have to agree to higher rates and fees you don’t need to settle for bad service or a bank that treats you with disdain.

    Why are there High Risk Merchant Accounts for Some Businesses?

    Each bank has policies that determine which business industries are considered too much of a risk to take on as customers. A business may be rejected by one bank but accepted by another, depending on the individual bank’s policy. Businesses classed as high risk can be refused a regular merchant account and have no choice but to open a high risk merchant account in order to facilitate accepting card payments on their website. The factors determining whether a business is high risk or not are often in flux and businesses that were considered low risk one year may find themselves considered high risk the next and need to find a specialized card processor.

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