HighRiskPay pitches itself as a lifeline for merchants who can't get approved elsewhere. But before jumping in, it's worth knowing what you're actually signing up for. From contract terms to chargeback handling, here's what to expect when using Highriskpay as your payment processor.
What HighRiskPay Offers
HighRiskPay provides merchant accounts specifically for high-risk businesses. That includes industries like:
- CBD and vape products
- Online dating services
- Nutraceuticals and supplements
- Debt collection
- Adult entertainment
- Tech support
They claim to accept businesses that traditional providers often reject. Their site highlights fast approvals, fraud protection, and integrations with major platforms like Authorize.net. But the real picture is a bit more complicated.
What to Watch Out For
Here are a few things to check carefully before applying with HighRiskPay:
1. Contract Length and Cancellation
HighRiskPay typically locks merchants into long-term contracts. Some have reported three-year terms with automatic renewals and early termination fees. Always read the fine print and ask about any cancellation charges before signing anything.
2. Pricing Isn't Always Clear
Rates vary depending on the type of business, but many merchants report paying higher-than-average fees. Some have seen processing rates above 5% plus high per-transaction fees. Be prepared to negotiate or request a full fee breakdown upfront.
3. Rolling Reserves May Be Applied
If your business type is considered high risk or has a history of chargebacks, HighRiskPay may place a rolling reserve on your account. This means they'll hold a percentage of your sales for a set period, which can impact your cash flow.
4. Customer Support May Be Limited
Some merchants report issues with support, especially when it comes to disputes or account holds. Email responses may take days, and phone support isn't always helpful. That can be a problem if you need fast help with a frozen account or a flagged transaction.
5. Dispute Handling Isn't Their Strongest Point
Chargebacks are common in high-risk industries, and how a provider manages them matters. HighRiskPay doesn't offer much hands-on help for dispute resolution. If you're constantly dealing with chargebacks, you'll likely need separate software or a partner to handle those cases properly.
Conclusion: Read the Fine Print First
HighRiskPay can be an option if your business has already been rejected by traditional processors, but it shouldn't be your first stop. Make sure you understand the contract terms, fee structure, and reserve policies before moving forward. And if you're in an industry where chargebacks are frequent, don't rely on your processor alone to protect you.
FAQ: Using HighRiskPay as a Processor
Does HighRiskPay work with international merchants?
HighRiskPay mainly focuses on U.S. businesses. Some international merchants may be accepted, but it depends on the country and industry type.
How fast can I get approved?
They advertise approvals in 24 hours, but this can vary depending on your business documents, industry, and risk level.
Are there setup or monthly fees?
Yes, some merchants report setup fees and monthly service charges. Always ask for a full pricing sheet before signing up.
Does Highriskpay integrate with Shopify or WooCommerce?
It may require a payment gateway like Authorize.net, which can then connect to platforms like Shopify or WooCommerce. It's not a direct plug-and-play option in most cases.
Can I negotiate better rates with Highriskpay?
Possibly. Some merchants have had success negotiating lower rates based on volume or payment history. It's worth asking.
What's the typical reserve hold time?
If applied, rolling reserves are usually held for 90–180 days. The exact percentage and duration depend on your risk profile.
Chargebacks Draining Your Revenue?
If you're using a high-risk processor like HighRiskPay, you're already working with tighter margins. Let Chargeblast help you reduce chargeback rates before they become a threat to your merchant account. We catch disputes before they escalate and help you stay below monitoring thresholds.
