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Finix
Best for Larger high-risk businesses
Payment processing fees
In-person: 0% + $0.08
Online: 0% + $0.15
Online: 0% + $0.15
Plus interchange
Monthly fee
$250
and up; NerdWallet readers pay $79.
on Finix's website
Pros
- No long-term contracts.
- Subscription model can help high-volume businesses save money.
- Transparent fee breakdowns.
- Each business gets a dedicated implementation manager.
Cons
- POS hardware is limited to readers and handheld terminals.
- Lacks direct accounting software integrations.
- Monthly fee is steep for most small businesses.
Finix’s monthly fees are expensive ($250+), but the cost could be worth it for larger small businesses that fall into the high-risk category. For normal-risk businesses, Finix becomes cost-effective when they process $25,000 to $30,000 per month. That threshold may be lower for high-risk businesses, since they have fewer choices available to them.
On top of transparent interchange-plus rates, Finix offers custom payout schedules and robust customer support. You can communicate with representatives on Slack or consult your own dedicated account manager. Emergency support is available around the clock.
I also appreciate how Finix advertises its high-risk processing services. For example, one of its FAQs asks whether high-risk businesses can get instant account approval. Instead of teasing “quick” approvals, Finix says “no.” It clarifies that high-risk merchant underwriting is complicated and often takes up to seven days. The page also includes helpful tips for keeping your account in good standing.
Pros
- No long-term contracts.
- Subscription model can help high-volume businesses save money.
- Transparent fee breakdowns.
- Each business gets a dedicated implementation manager.
Cons
- POS hardware is limited to readers and handheld terminals.
- Lacks direct accounting software integrations.
- Monthly fee is steep for most small businesses.
Finix’s monthly fees are expensive ($250+), but the cost could be worth it for larger small businesses that fall into the high-risk category. For normal-risk businesses, Finix becomes cost-effective when they process $25,000 to $30,000 per month. That threshold may be lower for high-risk businesses, since they have fewer choices available to them.
On top of transparent interchange-plus rates, Finix offers custom payout schedules and robust customer support. You can communicate with representatives on Slack or consult your own dedicated account manager. Emergency support is available around the clock.
I also appreciate how Finix advertises its high-risk processing services. For example, one of its FAQs asks whether high-risk businesses can get instant account approval. Instead of teasing “quick” approvals, Finix says “no.” It clarifies that high-risk merchant underwriting is complicated and often takes up to seven days. The page also includes helpful tips for keeping your account in good standing.
Payline
Best for Third-party software integrations
Payment processing fees
In-person: 0.35% + $0.10
Online: 0.5% + $0.20
Online: 0.5% + $0.20
Plus interchange
Monthly fee
N/A
Quote-based.
Pros
- No long-term contracts or cancellation fees.
- No PCI compliance fees.
- Compatible with multiple POS terminal providers, including Clover.
Cons
- Must contact Payline for information on hardware costs and monthly fees.
One of Payline’s strengths is its variety of third-party software integrations. It syncs with multiple shopping carts and POS systems, in addition to all versions of QuickBooks for accounting. Some payment processors don’t let you use POS systems from other providers. And Finix doesn’t have built-in accounting integrations.
In addition to its integrations, Payline offers a one-month free trial. This alone shouldn’t sway your decision. But it can be helpful if you want to test Payline out before committing.
Pros
- No long-term contracts or cancellation fees.
- No PCI compliance fees.
- Compatible with multiple POS terminal providers, including Clover.
Cons
- Must contact Payline for information on hardware costs and monthly fees.
One of Payline’s strengths is its variety of third-party software integrations. It syncs with multiple shopping carts and POS systems, in addition to all versions of QuickBooks for accounting. Some payment processors don’t let you use POS systems from other providers. And Finix doesn’t have built-in accounting integrations.
In addition to its integrations, Payline offers a one-month free trial. This alone shouldn’t sway your decision. But it can be helpful if you want to test Payline out before committing.
Host Merchant Services
Best for Locking in processing rates
Payment processing fees
0.25% + $0.10
And interchange for retail businesses.
Monthly fee
$15
Pros
- No PCI compliance, setup or termination fees.
- No long-term contracts.
- New merchants may qualify for free equipment.
- 24/7 support.
Cons
- No direct integrations with QuickBooks for accounting.
- Accepting online payments involves additional monthly fee.
It’s not unusual for payment processors to hike up their processing rates every few years or so. You won’t get that with Host Merchant Services. Once it gives you a rate, it’s locked in for the lifetime of your account. This is a big plus and something you don’t usually see with competitors. It also helps you better predict costs as your business grows.
In addition to low-risk businesses, Host Merchant Services works with a large variety of high-risk industries. The list includes airlines, adult content, bail bonds, CBD, gambling, nutraceuticals, sports betting, travel agencies and web design, just to name a few.
Pros
- No PCI compliance, setup or termination fees.
- No long-term contracts.
- New merchants may qualify for free equipment.
- 24/7 support.
Cons
- No direct integrations with QuickBooks for accounting.
- Accepting online payments involves additional monthly fee.
It’s not unusual for payment processors to hike up their processing rates every few years or so. You won’t get that with Host Merchant Services. Once it gives you a rate, it’s locked in for the lifetime of your account. This is a big plus and something you don’t usually see with competitors. It also helps you better predict costs as your business grows.
In addition to low-risk businesses, Host Merchant Services works with a large variety of high-risk industries. The list includes airlines, adult content, bail bonds, CBD, gambling, nutraceuticals, sports betting, travel agencies and web design, just to name a few.
PayKings
Best for Dedicated high-risk processor
Payment processing fees
0.8% + $0.10
to 1.10% plus $0.25, plus interchange.
Monthly fee
N/A
Quote-based
Pros
- Works with businesses on the MATCH list.
- The Growth plan and up includes a dedicated account manager.
- No setup fees.
Cons
- Charges termination fees.
- Charges undisclosed monthly fees.
- Customer support is limited to email in the Starter plan.
I’m wary of processors that tout approval in as little as 24 hours — which PayKings does. In-depth underwriting actually benefits high-risk businesses. Of course, you can’t always wait a week or more for an account. That’s especially true if your processor has shut down or frozen your account and you need to take payments ASAP.
If that’s you, PayKings is worth a look. It’s been around for more than a decade, offers dedicated account managers and has largely positive online sentiment. Importantly, it also works with businesses on the MATCH list. Other big names in the high-risk space, like PaymentCloud, largely don’t.
Beyond that, unlike many dedicated high-risk options, PayKings is upfront about where its rates start. It’s also transparent about requiring reserves, having contracts and charging termination fees. None of those policies are ideal. But they’re often the price of doing business with these types of providers. Make sure those terms fit your business before signing up.
Pros
- Works with businesses on the MATCH list.
- The Growth plan and up includes a dedicated account manager.
- No setup fees.
Cons
- Charges termination fees.
- Charges undisclosed monthly fees.
- Customer support is limited to email in the Starter plan.
I’m wary of processors that tout approval in as little as 24 hours — which PayKings does. In-depth underwriting actually benefits high-risk businesses. Of course, you can’t always wait a week or more for an account. That’s especially true if your processor has shut down or frozen your account and you need to take payments ASAP.
If that’s you, PayKings is worth a look. It’s been around for more than a decade, offers dedicated account managers and has largely positive online sentiment. Importantly, it also works with businesses on the MATCH list. Other big names in the high-risk space, like PaymentCloud, largely don’t.
Beyond that, unlike many dedicated high-risk options, PayKings is upfront about where its rates start. It’s also transparent about requiring reserves, having contracts and charging termination fees. None of those policies are ideal. But they’re often the price of doing business with these types of providers. Make sure those terms fit your business before signing up.
Jump to
How we selected the best high-risk payment processors
What makes a business high risk?
How do high-risk options differ from other merchant accounts?
What is the MATCH list?
How do you get off the MATCH list?
How to keep a high-risk merchant account from getting shut down
How do chargebacks work for high-risk merchants?
How to choose the best high-risk payment processor for your business
Update: We previously recommended National Processing for its dedicated account managers, but its website is no longer active. It originally redirected readers to a new product called pmtbox. That redirect is no longer in place as of September 2026, though pmtbox remains active.
Table of contents
How we selected the best high-risk payment processors
High-risk businesses have fewer payment processing options than other companies. That makes them especially vulnerable to predatory processors that charge too much. To figure out how to spot these companies and vet high-risk payment processors in general, I reached out to two industry experts:
- Scott Talbott, executive vice president of the Electronic Transactions Association.
- James Huber, managing partner at Global Legal, a payments litigation law firm.
I learned that the companies that market themselves solely as high-risk processors aren’t always the best options. These processors often advertise quick or instant approvals — and that isn’t necessarily a good thing. Longer and more complex underwriting processes are preferable, because they give the processor a better idea of how a high-risk business actually works.
That said, not all businesses can afford to put operations on hold for a week or more. Realistically, some businesses will need a quick approval process. And companies that advertise themselves as high-risk processors often deliver on that.
So, I didn’t rule out those processors completely. Instead, I did research to figure out which ones (high risk or otherwise) are worth your time. I chose options that meet most of the following criteria:
- Have a clear strategy for addressing chargebacks and fraud.
- List payment processing rates on their website.
- Skip the long-term contracts. (This is admittedly hard to find with dedicated high-risk processors.)
The list of providers above isn’t exhaustive. Huber says plenty of other processors quietly work with high-risk businesses and don’t advertise it.
So if you have your eyes on a processor that’s not on this list, don’t hesitate to reach out to them and ask if they can help your business. Just make sure they’re not a payment aggregator, like Square or Stripe. High-risk businesses need a dedicated merchant account provider instead.
What makes a business high risk?
A processor or bank might label a business as “high risk” due to frequent chargebacks, unusually large transactions or a poor credit score.
Here are some other common reasons a business may fall into that category:
- There’s a greater risk of fraud in your industry (often because you mostly accept card-not-present transactions).
- You sell internationally.
- You sell items that are highly regulated.
- Your industry carries high legal risk.
- You work in a new or emerging industry.
- Your business is high-volume and/or deals with expensive transactions.
- Accounting and tax preparation.
- Adult products or services.
- Automotive parts and accessories.
- Bail bonds.
- Cigarettes and tobacco.
- Collections.
- Computer software.
- Credit repair.
- Dating services.
- Debt consolidation.
- Diet and weight loss programs.
- Digital downloads.
- Document preparation.
- Dropshipping.
- Electronics.
- Extended warranties.
- Fantasy sports.
- Financial services.
- Firearms and firearms accessories.
- Free trials.
- Furniture.
- Highly regulated industries, including cannabis.
- Hunting and outdoor equipment.
- Jet charter.
- Legal services.
- Mail-order transactions.
- Multilevel marketing.
- Nonprofit.
- Nutraceuticals and supplements.
- Online gaming and casinos.
- Pawn shops.
- Precious metals and coins.
- Property.
- Search engine optimization, or SEO, and search engine marketing, or SEM, services.
- Self storage.
- Smoking accessories.
- Software as a service, or SaaS, companies.
- Tasers and stun guns.
- Tech support.
- Travel and vacations.
- Vape and e-cigarettes.
- Web design.
How do high-risk options differ from other merchant accounts?
High-risk businesses’ merchant accounts often face increased scrutiny and limitations. Here are the main characteristics that set high-risk accounts apart from others:
- Lengthier application process. If you need a standard small-business account, a payment aggregator like Square or Stripe might approve you in minutes or less. These companies don’t work with high-risk businesses, though. The application process for high-risk accounts can and should take more time — often longer than a week.
- Higher processing fees. Processors may charge you more than they do for low-risk small businesses. But Talbott says there isn’t a single benchmark rate. Instead, rates vary depending on your industry, chargeback history and sales volume, among other factors.
- Cash reserve requirements. The payment processor might hold on to some of your business's cash as a hedge. These requirements look different depending on the processor. The most important thing is that you understand how your cash reserve works and how it could impact your cash flow. Here are some examples of different cash reserve types:
- Capped reserve. The payment processor withholds a percentage of each transaction until the balance reaches a certain level. At that point, the contributions stop, and the reserve remains until needed. For example, a processor might hold 10% of your sales until they add up to half your monthly processing limit.
- Rolling reserve. The payment processor sets aside a percentage of every completed transaction each month. You receive the funds later on a rolling basis. If, for example, you're on a six-month rolling basis, you'll receive your balance from January in July. In August, you'll receive your balance from February, and so on.
- Upfront reserve. You send your processor a set upfront amount. This becomes the reserve. Or, the processor will withhold money from sales until you reach the set amount.
- Volume caps. Your processor might limit how many transactions you complete each month. They may also put a cap on sales volume.
- Additional technical requirements. If you sell age-restricted products, for example, you might have to use tools to make sure you're not selling to underage customers.
High-risk accounts require contracts, which should spell out specific terms for you. You can negotiate these items (more on that here). If you complete a high volume of transactions, you have even more leverage.
What is the MATCH list?
MATCH stands for Member Alert to Control High-Risk Merchants. It’s Mastercard’s database of businesses that have supposedly violated merchant agreements or experienced high levels of fraud and/or chargebacks.
Businesses can still get a merchant account if they’re on the MATCH list. But they'll have far fewer options.
This is a huge penalty. But surprisingly, it doesn’t always take that much for a bank or processor to add a business to the list. Sometimes, these institutions place otherwise low-risk businesses on it, because they’re not sure what to make of certain transactions.
For example, this may happen with payment aggregators, like Square and Stripe, because they don’t make you go through a rigorous underwriting process, Huber says. That means they don’t have a solid grasp of how your business works. So when an unusual transaction shows up, they might recommend you get placed on the MATCH list. This is their way of “playing it safe” just in case that transaction is fraudulent.
Other businesses on the MATCH list may have legitimately messed up. For example, they might need to work on their order fulfillment process or better address customers’ concerns. That said, getting MATCH listed doesn’t give them much room to fix these issues or learn from their mistakes.
How do you get off the MATCH list?
Start by figuring out who put you on the MATCH list. Huber suggests sending an email to Mastercard. Use the address matchbusinessowner@mastercard.com. It should get back to you with an answer, along with a specific violation code.
From there, work on fixing whatever issue landed you on the MATCH list. That could mean addressing your high chargeback rate, becoming PCI compliant or taking stronger fraud prevention measures.
After that, appeal your MATCH placement with the entity that put you there. The list of reasons for potential removal is small. It’s only:
- The entity determines it placed you on the list in error.
- You’ve addressed an underlying PCI compliance issue.
There may be nuance as to what counts as an “error.” A payments litigation firm with experience getting businesses off the MATCH list may help in that instance. Regardless, make sure you have documentation to prove you’ve resolved the issue at hand.
MATCH entries expire after five years. So if your appeal fails, you’ll at least be automatically removed at that point.
How to keep a high-risk merchant account from getting shut down
There’s a set of best practices for staying off the MATCH list. Here are the key steps, according to Talbott:
- Always maintain PCI compliance.
- Closely monitor chargebacks.
- Come up with a strategy to address high chargeback rates before they become a bigger issue.
- Be honest about your business during the underwriting process.
- Let your processor know ahead of time if you’re expecting any changes in products or sales activity.
- Keep a paper trail to prove you’ve addressed chargebacks, issued refunds and fulfilled customers’ orders.
How do chargebacks work for high-risk merchants?
A chargeback happens when a customer goes to their bank instead of your business to dispute a charge. It could be because an item’s description on your website was inaccurate. Or maybe the customer never received their package. Unfortunately, some people initiate chargebacks because they simply don’t want to go through the return process.
Complex businesses often face higher chargeback risk than your typical operation. So it’s important to make sure your payment processor has an established strategy for dealing with and minimizing chargebacks. This often entails fraud prevention and dispute resolution tools.
Chargebacks are never a good thing, but the fact they cost extra makes the situation worse. Here’s what each of the providers listed above charges per dispute (from least to most):
- Host Merchant Services: $15.
- Payline Data: $25.
- Finix: $30.
I reached out to each provider to make sure their standard chargeback fees apply to high-risk businesses as well. I was able to confirm with all companies except Host Merchant Services, which hasn’t responded. I’ll update accordingly if I hear back. But that's definitely a question to ask Host Merchant Services if you're considering them, especially considering their relatively low chargeback fees.
How to choose the best high-risk payment processor for your business
To find the best high-risk processor for your business, follow these steps:
1. Suss out the processor’s application process and marketing language
Promises of “instant approvals” are tempting when you’re shopping around for a high-risk processor. But making speed your top priority now may lead to problems later.
Processors often freeze businesses’ merchant accounts because they don’t take enough time to understand a company’s operation. Long approval processes can be cumbersome, but they ultimately work in your favor.
You want the processor to truly understand what types of transactions your business deals with. This ultimately reduces your chances of being placed on the MATCH list.
2. Watch for red flags
The high-risk space has bad actors, but these processors aren’t predatory by default. The key is to do your homework — even if you have limited options or need an account right away.
To help avoid surprises:
- Know the companies you’re working with. Check how long the processor has been in business and look for state court records about the company and its leadership. Some providers act as middlemen. In that case, do the same research for the bank/processor they’ll sign you up with.
- Get answers about all costs. Talk to a rep at any company you consider. Ask for a complete breakdown of all fees and reserve requirements. Confirm if and how those costs can change. Make sure it matches what’s in the contract.
- Understand the contract itself. Determine its length and what happens if you cancel. Are there termination fees? Will you be stuck paying for terminals or other equipment? Does the contract auto-renew?
One last thing to be aware of: Processing applications sometimes double as contracts. So check before you click. Always review a complete agreement before applying.
3. Prioritize the processor’s risk-management strategy over pricing
“High-risk merchants should evaluate the processor's risk-management practices just as carefully as its price,” Talbott said via email.
For example, he added, ask processors what triggers high risk alerts and how they handle it. When your account gets flagged, you want your processor to give you a chance to fix the issue before freezing funds.
To gauge how well a processor actually understands your industry, have a conversation with a sales representative. Come prepared with questions like:
- How many other businesses in your industry do they work with?
- Exactly how do they respond to fraud and chargebacks?
- Do they notify you via email immediately in such instances?
- Do they have additional fraud and chargeback prevention tools should you need them?
4. That said, don’t be afraid to negotiate pricing
Each of the processors listed above use interchange-plus processing as opposed to a flat-rate model. This gives you the flexibility to negotiate markups based on your sales volume, industry and transaction history. The worst thing the processor can say is no.
For example, you might start by mentioning your previous processing rates if they were lower. If you have the time, you may gather multiple quotes from different companies too. Or look into the volume discounts competitors offer. See if the processor will try to beat those rates and discounts or at least match them.
5. Ask about policies regarding account freezes and cash reserves
Talbott says high-risk processors should be transparent about these rules. If they aren’t published on the provider’s website, ask a representative for their policies in writing.
They should be upfront about what causes an account freeze and whether they require cash reserves. If the processor does require cash reserves, make sure you understand exactly how much. That way you aren’t caught off guard when reserve requirements disrupt cash flow.
6. Confirm software integrations
Ideally, your processor exchanges information with your POS system and sends data to your accounting software. This helps you avoid manual data entry and ensure your sales reports are accurate.
Methodology
NerdWallet independently reviews payment processing companies before determining our top picks. We collect the data for our software ratings from products’ public-facing websites and from company representatives. Our editorial team reviews information on a regular basis for consistency and accuracy.
We also periodically update our scoring system to reflect changing industry norms and business needs. For instance, in 2026, we dropped the “free trials” category from our rubric. Payment processing systems can be time-consuming to set up. Testing out multiple products isn’t an ideal approach. Instead, we recommend taking cost and features into consideration.
NerdWallet’s ratings of payment processing providers reward companies whose products and services are priced well and work in a variety of payment scenarios, among other criteria.
Ratings are based on weighted averages of scores in several categories, including overall cost, hardware and software options, system capabilities, customer service, contract requirements and integrations. Learn more about how we rate payment processing providers.
These ratings are a guide, but fees, hardware, software and contract requirements can vary widely from business to business and provider to provider. We encourage you to shop around and compare several providers.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
