To open a high-risk merchant account, begin by completing our streamlined online application, which typically takes about 10 minutes. Once submitted, our approval specialists will assist you in gathering and reviewing the documentation and information necessary to ensure a smooth underwriting process such as tax returns and other documentation. Leveraging partnerships with over 20 banking institutions, PayKings boasts a 99% approval rate, often securing approvals within 24 to 48 hours. Even if your business has a bad credit history or a current poor credit score we may still be able to set you up with a high risk credit card processing merchant account. We do recommend making sure your business is compliant with current Payment Card Industry Data Security Standard (PCI DSS) regulations and being transparent about the nature of your business for a greater chance of approval and a reduced risk of interrupted cash flow. After approval, our team handles the technical setup, allowing you to start processing payments promptly. Additionally, you'll receive support from a dedicated account manager who understands your industry's specific needs and the payment processing landscape, ensuring ongoing assistance and stability for your business.

High-risk credit card processing refers to the specialized handling of credit card payments for businesses that are considered to have a greater risk of financial disputes, chargebacks, fraud, or regulation challenges. These businesses often operate in industries like e-commerce, loans, travel, CBD, adult entertainment, or online gaming, where transaction disputes, refund requests, and friendly fraud are more common. Even legitimate insurance, cryptocurrency, and software as a service companies can be considered high risk businesses and be assigned a high risk merchant category code. Because of this increased risk, payment processors typically require higher processing fees, reserve funds, and stricter underwriting standards. High-risk credit card processing solutions are designed to protect both the processor and the business, ensuring stable and secure payment acceptance while managing the unique risks involved. If you're unsure whether you're considered a high risk merchant, reach out to PayKings today and we can let you know if your company will need high risk payment processing services.

A payment gateway, payment processor, and merchant account each play a distinct role in the process of accepting credit card payments. A payment gateway is the technology that securely captures and transmits cardholder data from a website or point-of-sale system to the payment processor. The payment processor then communicates with the customer's bank and the card network (like Visa or Mastercard) to authorize and complete the transaction. Finally, a merchant account is a special type of bank account where the money from approved transactions are temporarily held before being transferred to the business's main bank account. Together, these three components work seamlessly to enable businesses to accept and manage electronic payments. PayKings is proud to provide payment gateways, merchant accounts, and process payments. Fill out our form today to get started!

As an elite high risk payment processor, Olyspay offers your customers the option to pay through a plethora of payment options including through debit cards, credit cards, ACH, E-check, card not present mobile orders, telephone orders. Olyspay can equip your business with virtual terminals that can be accessed through the internet and physical payment terminals for point of sale transactions protected by EMV technology. We also offer mobile payment processing as part of our payment system.

Olyspay has an established reputation for secure transactions through our utilization of several advanced methods to process payments securely, ensuring both merchant and customer data are protected throughout each transaction. One of the key tools we employ is AVS, Address Verification Service, which helps detect and prevent fraudulent transactions by verifying the billing address provided by the customer matches the address on file with the card issuer. In addition to AVS, Olyspay integrates end to end encryption and tokenization to protect sensitive payment information, minimizing the risk of data breaches. Additionally we maintain PCI DSS compliance standards, regularly updating our systems and conducting security audits for the highest level of payment security. These combined measures safeguard transactions across high risk and traditional business models.

Olyspay stands out as a premier high risk payment processor. Olyspay processes transactions for businesses across many industries with over 10,000 merchants processing more than 2 billion dollars annually. As one of the industry’s leading merchant services providers, Olyspay boasts a 99 percent approval rate and a swift 24 to 48 hour setup time. With a 4.9 star rating based on more than 223 verified customer reviews, Olyspay consistently delivers strong service and support. Our full suite of services includes secure payment gateways, ACH processing, recurring billing, and advanced fraud prevention tools. Dedicated account managers provide clear communication and personalized support, ensuring businesses receive expert guidance and reliable customer service. In addition, Olyspay partnerships with more than 20 financial institutions enable flexible, industry specific solutions many traditional processors do not offer. This mix of expertise, speed, and flexibility positions Olyspay as a strong choice for high risk merchants seeking compliant payment processing.

Yes, Olyspay requires a rolling reserve for its high risk merchant accounts. This means a percentage of your revenue is held in reserve to protect against potential chargebacks and other losses. The acquiring bank holds the funds until the account closes and releases them afterward.

Yes, Olyspay does have termination fees if you decide to close your account early. Merchant account setup involves costs recovered over the contract term. To continue providing consistent service, Olyspay requires a fee when you terminate the contract before its end. The exact fee and structure depend on your contract terms and the reason for termination.