The processing rates are 2. Best High-Risk Credit Card Processors for Shopify. Free rate review and analysis. Like most high-risk merchant account providers, PaymentCloud is not a direct processor. Shopify High Risk Payment Processing. At E-Commerce 4 IM, we specialize in helping high-risk businesses with their credit card processing needs. Some high risk credit card processing specialists have started to offer workarounds that enable merchants to accept credit cards through domestic merchant accounts. The Problems For High-Risk Merchants. The merchant account provider will approve your application if you fall into its low-risk category. High Risk Payment Gateways. Go to the top. These processors manage transactions for companies that may face higher levels of chargebacks or fraud. Customers are not charged any late fees, interest, or other fees on Affirm’s standard 4-installment loans. It’s good to know and most importantly, you’ll need this info when seeking for a new merchant account. While these accounts provide valuable services,. In 2020, the number of shoppers that shopped through Shopify increased by 52% from 2019. Basically, a merchant ID is a specific code assigned to you when you get your merchant account from an acquiring bank or processor. Some providers offer processing fee discounts for high-volume businesses. In terms of pricing, Square has the edge over Shopify under most scenarios. MOTO (phone / mail),. Choose a Merchant Account Provider Whose Fees and Functionality Are Transparent. These businesses often operate in industries that, for various reasons, carry a higher level of risk. Gather the necessary documentation. or at least merchant registered its. They are custom suited for businesses that have higher risks associated with them. However, you’ll run a lower risk of account freezes and holds. The key distinction in between a devoted account and an. I have two businesses that need to accept credit and debit cards. The Ecwid Ecommerce Shopping Cart WordPress plugin has the highest number of active downloads, at more than 30,000, with an impressive average of 4. They are custom suited for businesses. Both WooCommerce and WordPress are built on an open-source foundation. The company uses a process called "scrubbing" to review your documents during the application process, improving your chances of getting approved for a merchant account with one of its partner banks. This represents a whopping 29% of all online businesses in the U. Here’s a rundown of. 1. High-risk businesses frequently struggle to get approved for a merchant account, often due to abnormally high chargeback rates. , including those in the CBD industry. As a merchant, you will also have to pay an admin fee to Shopify, called a chargeback fee. Our picks for the best free merchant accounts include Square, Chase, Stripe, PayPal, and more. High Risk Merchant Services is a merchant account that enables businesses in the high-risk category to accept credit and debit card payments from customers. The high-risk merchants always have difficulties in their accounts such as: The high-risk businesses will hard to place; It is a high cost for the payment service processors especially when you are newcomers; The processors will be cautious in providing the merchant’s accounts. January 12, 2022. (Even low-risk businesses can wait up to 1-2 business days for approval. PaymentCloud as a Shopify High-Risk Payment Processor. Solutions. Shopify might be a great, simplified platform to create and host an online store. 3% to 3. For some, this is because Shopify Payments is unavailable in their country. A high-risk merchant account is a type of bank account designed for businesses considered high-risk by financial institutions. Level 2 processing is built-in, with no additional monthly fees. In the Overview section of the Google sales channel, select Manage products. With an aggregate high risk merchant account, the funds from a transaction are sent out to the processor, like Shopify. Some examples of high Why We Chose PaymentCloud For CBD Payment Processing. For starters, they provide a higher level of. Worldpay is a unique Shopify payment gateway best-known for offering a range of secure payment services to companies of all sizes. We take pride in our A+ BBB rating and 99% approval rate for high. Shopify high-risk processing and Authorize. Learn how you can still integrate NMI with Shopify. Apply Now. Should you be working in what lots of merchant accounts deem a “high-risk industry,” such as an eCommerce business, there will be a likelihood that you have a high chargeback or. By having a high risk merchant account on Shopify, you can ensure that your business and customers are protected when conducting online transactions. Security Features: BAMS uses tokenization and encryption to protect your account, and it’s available for free with all accounts. Please give me a call if we can be of further assistance @ 1-877 493-4622. Reply. Mobile Payment Processing. Merchant services should support your business, not drain it with excessive fees. Reading Time: 8 minutes Shopify is the home to over 2 million active businesses in 2023. 79%. When you are classified as a high-risk business through Shopify’s standards, the only way for you to. Both WooCommerce and WordPress are built on an open-source foundation. Get Accepted for a merchant account via our easy online application with the leader in merchant accounts for. National ACH specializes in offering high-risk merchant accounts to process ACH, e-checks, debit cards, and credit cards. 00 for offshore high-risk clients. Best for online and international sellers: Durango Merchant Services. This could either be in the form of transaction volume or add-ons. High-risk merchant accounts offer a range of benefits to merchants who use Shopify as their platform of choice. European Merchant Services (UK) Limited offers a range of services that support businesses to grow and succeed in an ever-changing world, especially as we all are starting to emerge from the pandemic. To get a Shopify CBD merchant account, you’ll have to go through a three-step process: CBD Merchant Account Application Process. These processors manage transactions for companies that may face higher levels of chargebacks or fraud. 1 Regulated products, like CBD, and Shopify. Accept card payments with a merchant account (or Shopify Payments)Strict guidelines and low thresholds of risk tolerance mean that Shopify can drop your merchant account and freeze your funds at any time without warning. 207. NMI’s Advanced Transaction Routing Interface (ATRI) is a solid tool for businesses with multiple merchant accounts. In other cases, Shopify has revoked payment services because the business was deemed “high-risk. Shopify considers a business high-risk if it operates in a high-risk industry or has a higher likelihood of chargebacks, fraud, or other financial risks. Online Coaching Merchant Accounts for Shopify. Net payment gateway integrated with a high-risk merchant account specifically approved and underwritten for a specific product category or marketing method that most merchant account providers generally prohibit. High risk accounts willingly take on risk and aide merchants in minimizing it. also makes its own rules and can make any modifications they deem necessary without your authorization. Fulfilling high risk orders can result in a higher number of chargebacks and that can result in disabling payment processing and removal from Shopify Payments. How to apply for a CBD merchant Account To get a Shopify CBD account, you’ll have to go through three. High Risk Pay offers high-risk merchant accounts and payment gateway solutions to businesses from all verticals. Accepts domestic & international cannabis merchants. Don’t get us wrong, Shopify Payments is an excellent payment processor. On the upside, several high-risk merchant account providers specialize in working with businesses in the CBD industry. A Shopify order can be defined as high-risk if any of the transaction (via transaction monitoring tools) or user data raises red flags. Net: high-risk payment gateways and merchant account recommendations A+ rated and BBB accredited – Tasker Payment Gateways LLC helps website owners sell regulated products online using high-risk friendly Authorize. , payment gateways specifically for gambling), or indirect. Finally, select Start Verification. PaymentCloud Top Rated E-Commerce Merchant Services . Consider a merchant account if any of the following apply: Your established business has particular needs. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks. Consider the terms when you. Authorize. The term payment gateway refers to software that interfaces with your shopping cart and a merchant account is a banking relationship that connects to that payment gateway and processes. And you may also be required to pay more processing charges, directly. Examples of high-risk products include firearms, tobacco products, adult content, and CBD products. Getting the right Shopify-friendly high-risk payment processor can be simple. Fast Approvals. Accept card payments with a merchant account (or Shopify Payments)Shopify has the authority to close any high-risk merchant account that uses Shopify Payments to accept payments from customers. The 6 Best Credit Repair Merchant Accounts. Here are just a few excellent high-risk merchant account providers to help you start your search off right: Focusing primarily on high-risk e-commerce businesses, eMerchantBroker claims they approve 99% of all account applications. Flagship Merchant Services: Best. 00% + $0. Visa, MasterCard, AMEX & Discover Card accepted from your customers. - Provides full service merchant accounts for high risk and non-high risk merchants. The WooCommerce plugin for WordPress is a great way to process credit cards for online adult toy sales. We'll help you accept high-risk payments safely, reliably, and efficiently on Shopify. Some examples of high. If your business tips into high-risk areas or focuses on prohibited lanes, a traditional merchant account is a better alternative. Rely on the Instabill team to get you a high. Flat-rate pricing. Online payment processors fall into two categories: With direct processors (a. ATRI multi-merchant account balancing feature for high risk merchants. If you’re a merchant on Shopify or thinking about starting an online store with them, you’ll be pleased to know Shopify offers fraud analysis tools that help ecommerce businesses spot red flags. Try Shopify free for 3 days, no credit card required. A high-risk payment gateway is a specialized service that enables businesses in high-risk industries to accept online payments. Looking for a high-risk merchant account for your online coaching business? Get approved and set up with a merchant account and gateway that works! Call: 1 800 570 1347. The Ecwid Ecommerce Shopping Cart WordPress plugin has the highest number of active downloads, at more than 30,000, with an impressive average of 4. Stripe: Best for owners of multiple businesses and brands. These risks include high chargeback rates, brand conflicts, and regulatory concerns. Login to your Shopify store's admin. No matter the type of business or industry, our cutting-edge credit card processing solutions ensure you will have the most up-to-date technology and solutions for your customers. 1 We have seen this movie before. Here are a few reasons we stand out: High-risk. High Risk Merchant Account LLC 915 Folly Rd #49, Charleston, SC 29412 (877) 493-4622. Leaders Merchant Services: Best for Established Businesses 4. Load balance your MID’s depending on price points, volume, or the custom criteria of your choice. Your rates will depend on a few factors, including your program options, your business size, and your business risk profile. 4. High Risk Merchant Services is a merchant account that enables businesses in the high-risk category to accept credit and debit card payments from customers. Cancellation fees are waived. Corepay. Here are four of the best providers of eCommerce merchant accounts, including Square, Stripe, and Payment Cloud. Plus, you’ll never be charged a setup fee or application fee. High Risk Merchant Account Shopify. High-risk businesses typically operate in industries that are prone to chargebacks, fraud, and legal and regulatory complications, such as online gambling, adult entertainment, nutraceuticals, and e-cigarettes. Easy Pay Direct: provides full service merchant accounts for both high risk and non-high risk merchants. Part of how we achieve this is by offering various high-risk merchant services. A merchant account is a type of business bank account that allows businesses to process electronic payments such as debit and credit cards. MCC codes indicate the types of products or services that you offer to consumers. We have listed the top providers of marijuana merchant accounts below. High Risk Merchant Accounts with Shopify. Select Bank Account and enter your information. Per standard industry practice, payment. If you are applying for a higher risk merchant account, be sure to read your contract thoroughly. Net gateway also needs to connect with a high-risk merchant account on the back-end. Square Invoices: Best for new small businesses. Offers debit & cryptocurrency payments. . Review high-risk orders to avoid potential chargebacks. Words like high-risk payment gateway and high-risk merchant account are often used interchangeably, but there is a real difference between the two. [footnote]BuiltWith. BankCardUSA reached out to work with us but the whole process is a drag like pulling teeth to get a response out of them, which is strange, given they reached out to us. S. This offer does not apply to high risk merchant types or merchants with poor credit. I know these services work because we have hundreds of 'live' websites selling CBD right now. Specializes in high-risk merchant accounts. High-risk payment gateways, tips & recommendations 207. The core of that is that we understand your business model. Your Shopify based store is open for business, you photographed your merchandise, wrote the marketing copy, designed the website, learned the advanced technology. 6. Cardpay Solutions makes accepting. The Tap & Chip Card Reader sells for $49, which is a good price for a simple, user-friendly card reader that accepts tap and chip payments. 3. Their state-of-the-art, unique features help you ensure customer satisfaction after you’ve collected payment and include perks like fraud prevention tools, advanced payment gateways, 100+ integrations, merchant funding,. Stax: Best for avoiding transaction fees. Hide and republish products based on inventory level. Some companies specialize in high-risk merchant accounts. Each Certified Payment Specialists have “been there and done that” hundreds - or thousands of times. Solutions. 7% for in-person transactions. If you are a new high-risk merchant with questions about integrating with Shopify contact us anytime. High risk merchant accounts are a unique category of online payment processing. Visit Site. One benefit of purchasing equipment directly from Shopify is that Shopify offers 24/7 support for that hardware and risk-free 30-day returns. Shopify merchants have access to its fraud analysis tool. What is a High Risk Merchant Account? Merchant Accounts for businesses are classified as risky for many reasons, including brand new business, poor credit history, operates in a high risk industry, processes a high volume of transactions or high ticket transaction values. High-risk merchant account. Mar 6, 2023 2 minute Read. High-risk merchant accounts offer a range of benefits to merchants who use Shopify as their platform of choice. A high risk business doesn't necessarily mean that you have a high chargeback rate itself, but that historically speaking the nature of the business itself does. 6. 30 per transaction, though that amount can vary. First, they will look at all your basic information, including the business name, contact information, and business. The provider may approve riskier applications but at a higher fee. High Risk Merchant Account LLC 915 Folly Rd #49, Charleston, SC 29412 (877) 493-4622 Shopify POS has everything you need to sell in person, backed by everything you need to sell online. We think most small businesses will find a great fit in this list. Historically, merchants in high-risk categories have had few options for payments. High-risk payment gateways, tips & recommendations. Customers provide their credit card info, and then the payment gateway passes the information between the selling business, the customer’s bank, and the seller’s bank, either approving or declining transactions along. These risks include high chargeback rates, brand conflicts, and regulatory concerns. Next Day Funding for AMEX / Discover. Shopify, the aggregate high risk merchant account processor. The 6 Best Credit Repair Merchant Accounts. Online shoplifters often use fake phone numbers to make a transaction. 0. The 7 Best High-Risk Merchant Account Providers. Read our Review. Merchant services should support your business, not drain it with excessive fees. S. High risk businesses can set up a PayPal account and process transactions right away. Key Components: 1. Rolling Reserve of 5%-10% required for 180 days; Offer a Direct EU Merchant Account. That means PayKings will service companies in industries that many other payment services shy away from. Drawbacks of High-Risk Merchant Accounts. For example, we offer merchant account set-up assistance, chargeback mitigation, and credit card processing to many different high-risk businesses. Terminals. Best one-stop shop: First Card Payments. Merchant services allow you to get paid quickly and securely as a retailer. From the TikTok sales channel, click Set Up Now to create paid ads on TikTok. The best credit repair merchant accounts are able to accommodate high-risk transactions at a fair price with reasonable contract terms. Offering secure payments at your dispensary is essential. Overview. Many of these payment processors are actually aggregators that collect merchant accounts and put them under their own merchant ID—things like PayPal, Square, or Shopify Payments (which is. Read our Review. 10 Simple Account Security Tips Every Merchant Should Know (2023) If you’re someone who locks your door and then double-checks it before leaving home,. Shopify. Of course, if you’re looking for high-risk merchant accounts please let us know. The NMI ATRI feature permits automated routing based on the product name, merchant account, risk category, sale amount, or even based on a percentage of gross sales. A competitive payment processing fee for a standard retail small-business account might be 2. Square. As for the cost of payment processing on this device, that depends on your Shopify plan. 20 cents per transaction. Why Shopify Users Need a High-Risk Merchant Account When you are classified as a high-risk business through Shopify’s standards, the only way for you to be permitted to operate on the site is to secure a high-risk merchant. As a high-risk business, this is particularly important. The pros of a high-risk merchant account for Shopify. FREE Account Set-Up. 3D Secure. We have helped hundreds of entrepreneurs thrive and would love to. Luckily Shopify has an excellent in-built fraud detection system that ranks orders as low, medium, and high risk. The best crypto payment gateways provide convenient interfaces for accepting multiple types of cryptocurrencies, flexible settlement options, and low fees. Other Payment ProvidersWe offer high-risk merchant, Chargeback, Merchant services, ACH, POS & More. A rolling reserve that can be held for up to 180 days (or longer in some cases) after account closure. Normally, suspicious orders are flagged with an exclamation mark beside the order number. Card-absent payments have never been easier with Bankful’s intuitive gateway. Stripe. net: Best for fraud prevention. Track pre-order purchases and kick off marketing campaigns. We can provide merchant accounts that are tailored to your specific high-risk product types. If you still have questions regarding what we can do for you, give us a call at 1-888-548-5649 so you can converse with one of our merchant account managers. ”. Any high-risk merchant account will cost significantly more than a comparable low-risk one. Reading Time: 7 minutes In an age where eCommerce businesses are becoming easier to start up and turn a profit, payment processing is a necessary piece of the puzzle in order to drive revenue. Your SSN or Employer Identification Number. High-Risk Processor, CBD Consultant, Merchant Processor, & Shopify Partner 8,473 Views 0 Likes Report. Payment Cloud: A high-risk payment processor with over a decade of experience and 24/7 customer support. Shopify doesn’t offer high risk payment processing directly, but it does integrate with third-party companies that can provide you the solutions you need. Compare the top merchant account providers and see which one could be best or your business. High Risk Pay has got you covered. If. High risk merchants who choose to process with instant approval companies may have their account shut down which can lead to lost revenue. - No early termination fee even for high risk businesses. A high-risk merchant account will accept the risk and allow you to process. Brick-and-Mortar Retail Saleswhat we offer. Add a high-risk Authorize. Stax: Best for Larger Businesses 2. Remember, you will need a high-risk payment gateway/merchant account combo to make any of these solutions work – we can help. In response to. Automate your product review process. The Shopify Payments service (“Shopify Payments” or the “Payments Services”) is a: (i) payment account boarding; (ii) payment underwriting; and, (iii) payment data transmission service that helps you integrate with a payment processor (the “Processor”), as described more fully in this Agreement. The company offers payment processing services for more than 170. Third-party processor. Next Day Funding for Visa / MasterCard. Transfers: You’ll be able to transfer money in and out of your account and pay bills online using your Shopify Balance account number and routing number. That means PayKings will service companies in industries that many other payment services shy away from. - Applying for multiple merchant accounts can be seen as a risk and may cause decline - Be honest with merchant account providers upfront. Net connects to is also high-risk too, though. I dont sell crypto or deal with any crypto. Ecwid Ecommerce Shopping Cart and high-risk e-commerce. In order to make the payment processing high-risk-friendly, you need to connect it with a high-risk merchant account on the back-end. Square doesn’t work with high-risk merchants—merchants declared by a credit card company to be at particular risk of fraud or of experiencing a high volume of returns. Durango Merchant Services earns a coveted overall score of 5 out of 5 stars. All it takes is securing a High-Risk Merchant Account for Shopify, which our team can guide you towards doing. Volume spikes and chargebacks happen, but with a high-risk merchant account, you are in a much better position to continue to accept payments steadily. With this solution, you can sell products online, but you’ll also have the option to accept payments offline, over the phone, and more. Net account can be a fantastic pipe and glass site builder. The application process for high-risk payment processing can be time-consuming and require extra effort. They are custom suited for businesses that have higher risks associated with them. 6 Existing businesses appear to be grandfathered. Payment gateways enable the capability for credit card and digital payment processing. 5 High-risk merchants are left confused and fearful. Corepay's emphasis on eCommerce makes it a particularly good choice for online-only businesses. Please give me a call if we can be of further assistance @ 1-877 493-4622. The best credit repair merchant accounts are able to accommodate high-risk transactions at a fair price with reasonable contract terms. Cons: $99 account setup fee, 3-year contract with an automatic renewal clause. a. Nyah started Tower Payments with one goal: to be an alternative to the expensive. 30 per transaction, although that fee can vary (depending on business size, risk profile, and program options). Get access to deeply-discounted interchange rates to keep your payment processing costs as low as possible. The merchant account provider will approve your application if you fall into its low-risk category. Powered by machine learning. Another. This is because high-risk merchant accounts are set up to handle the naturally occurring challenges high-risk businesses experience. Shopify is not a high risk payment processor. If you have too many unfulfilled orders,. If you’re a merchant on Shopify or thinking about starting an online store with them, you’ll be pleased to know Shopify offers fraud analysis tools that help ecommerce businesses spot red flags. The best high risk Shopify merchant. Can I Really Accept Credit Card Payments Without A Merchant Account? Yes, you can accept payments online and in person without a merchant account. An acquirer uses the MCC code to identify prohibited business types as well as measure risk before signing a merchant up for services. 99% + $0. There are no application or setup fees when signing up for an account. Payline Data: Best for medical businesses, educational services, and nonprofits. BigCommerce offers extensive support to CBD businesses, including access to a choice of over 65 third-party. Bitcoin merchants are considered to have a high risk. Your deposits are FDIC-insured up to the legal maximum of $250,000. Acceptance Visa / MasterCard / American Express etc. Here is the profile of six of the best high-risk payment processors in the eCommerce industry today. The charging dock will cost you an additional $40. From high-risk merchant accounts to payment gateways, we will help you get the stability and reassurance you need to grow your business and get the most. Net payment gateway with GoDaddy too. The company has a positive reputation for transparent customer service and reliable support. The merchant account provider will approve your application if you fall into its low-risk category. Our commitment to beating competitor rates, dedicated customer service, and thorough rate review. With the exception of processors catering to high-risk industry, they also offer month-to-month billing. High-risk merchant accounts underwritten by People’s Trust; Clover terminals and POS systems; Various payment gateway options (Authorize. Net here. Coinbase Commerce: Best For Integrations. Third-party payment processors make it easy for your business to complete transactions and manage funds. Approximately one in three online businesses use Shopify to power their stores. This doesnt make any sense. Stores that use most third-party payment processors and are on the Shopify, Advanced Shopify, or Shopify Plus plan. Authorize. Debt Collection Business Benefits: Through our processing partners, we can also offer debt collection businesses the following additional benefits: Expert in underwriting. But for high-risk merchant accounts, Shopify may not be the best option for collecting payments. Some providers offer processing fee discounts for high-volume businesses. As discussed in the previous section of this guide, using a third-party payment processor instead of an aggregator offers a range of benefits, including. High-risk merchant accounts often provide access to a broader spectrum of payment methods, allowing you to cater to a more. List the top 5 high-risk payment processors for Shopify merchants. Durango’s customer support also far exceeds the often-inadequate norms of the payments industry. ” meaning Member Alert to Control High Risk Merchants—a database that records data on canceled merchant accounts’ Begin searching for a new. Shopify merchants have access to its fraud analysis tool. billing options for subscription-based businesses or seamless integration with popular e-commerce platforms like Shopify or WooCommerce. A high-risk merchant account can help businesses that are considered high risk to accept payments smoothly and securely. Amazon Pay. The provider may approve riskier applications but at a higher fee. A third-party hardware vendor may not provide those same protections. Online payment gateways are cloud-based software while in person retail gateway's are often included in POS systems. 3. Unfortunately, CBD’s legal standing and regulatory requirements give CBD businesses a high-risk categorization, limiting the capability of CBD merchants to. From here you. PaymentCloud is a registered ISO/MSP of BMO Harris Bank, Chesapeake Bank, Esquire Bank, Merrick. Hardware: Quote-based. See moreGetting a high-risk merchant account with Shopify Check if your business is eligible. HRMA-LLC's High Risk Payment Gateway will conveniently integrate with your Shopify Store and bank approval should be a snap. We have more than a decade of experience assisting Shopify website owners with high-risk credit card processing. The provider may approve riskier applications but at a higher fee. Shopify is a favorite among high-risk business owners. Obtaining a high risk merchant account is easy with High Risk Buddy. Shopify Payments was created by Shopify and is thus. ⁹High-risk merchant accounts differ from low-risk accounts in the following ways: Almost always a full-service merchant account (PSPs typically don’t accept high-risk businesses) Extensive underwriting process required before account approval; Might be underwritten by an offshore bank or processor; Typically require a long-term contractGateway Funnel Pros can help. It is important to select a reliable company like Merchant Stronghold, which has close relationships with bank sponsors and will provide you with payment processing. not. Some Related Blogs So the USA currently seems like the most difficult place for a high risk merchant to obtain an account. High-risk specialist with anti-fraud and anti-chargeback protections. Providers serving the high-risk community can often set you up with specialized ACH processing services that come with advanced anti-fraud and chargeback protection features. donnanobugs. cartridgeworldc. Most importantly, you must have a Bank of America business checking account to obtain a merchant account through BAMS. To get a high-risk merchant account with Shopify, you must find a third-party merchant services provider to handle the backend of your payment processing. Your CBD payment processor must be able to share out high-risk transactions. It uses machine learning, big data, and expert reviews to identify fraudulent transactions happening through your ecommerce store. And then are deposited into the merchant’s checking account. Fraud protection features at Shopify; Feature Availability Description; Fraud analysis: Stores that use Shopify Payments. Search for: Home. Shopify has a list of prohibited and restricted businesses, including certain. Leverage Shopify’s fraud detection and analysis tools. Stripe: Best for omnichannel businesses. Everyday basic payment facilitators and companies like Stripe, PayPal, Square, Shopify, etc. Here their processing company will collect important information. Payment Depot: Best for no percentage markup. Here are the best credit repair merchant accounts from providers like Soar Payments, Host Merchant Services, PayKings. That means no money in, no money out, and no customers. Shopify: Best for. The best high-risk merchant account providers offer honest sales practices, a transparent onboarding process, personalized customer service, fair contract terms, and reasonable rates and fees. High risk payment processor. 98% Approval Rating. "Shopify Usage Statistics". In fact, we think Square, Novo, Live Oak, Bluevine, NorthOne, Mercury, Axos, Bank of America, LendingClub, and Grasshopper have the best all-around business bank accounts available. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. Call the phone number the customer issued. Fraud analysis Shopify’s fraud analysis helps you identify orders that could be fraudulent. A high-risk business is considered likely to fail financially by card processors and banks.