In a recent interview with CardRates.com, High Risk Pay’s Chief Operating Officer, Eyal Marmareli, shed light on the challenges high-risk merchants face and how specialized payment processors can turn these challenges into opportunities.
Traditional financial institutions often shy away from businesses they label as “high-risk” or impose excessive fees and restrictive terms that can stifle growth. “Many financial institutions are risk-averse, which can make life difficult for high-risk businesses seeking a payment processor,” Marmareli explained. This aversion stems from a lack of understanding and an unwillingness to accommodate industries outside the conventional mold.
High Risk Pay distinguishes itself by offering tailored payment processing solutions that align with the unique needs of high-risk industries like travel, IT Support, nutraceuticals, and more. “We provide payment processing solutions to merchants of all risk levels,” Marmareli emphasized. This gives businesses access to competitive rates and services designed to handle higher instances of payment disputes and fraud.
Marmareli also highlighted the importance of exceptional customer service and in-depth industry knowledge when working with high-risk businesses. “Our exceptional customer service and in-depth knowledge of high-risk industries help businesses save time and money,” he noted. High Risk Pay’s team of transaction specialists provides personalized support, ensuring that even businesses with bad credit or those in so-called “sin” industries can secure steady income streams. Their high-risk payment gateways offer instant transaction approvals, minimizing risk and increasing revenue potential.
For high-risk businesses, traditional banks can feel like a roadblock rather than a partner. High Risk Pay, on the other hand, understands that high-risk merchant accounts aren’t a liability—they’re an opportunity. According to Marmareli, “We take a different approach. Rather than shying away from high-risk industries, we work to find solutions that benefit both the merchant and the payment processor.”