Top-5 payment gateways for high-risk business

Top-5 payment gateways for high-risk business

On a lookout for a payment gateway? Can’t wait to open a high-risk merchant account? Well, this can be a tough task for business owners. Payment service providers are very selective when it comes to credit card processing for high-risk companies.

Nevertheless, high-risk businesses are booming. RollingStone reports that the CBD market share will reach $22 billion in 2022. And that’s only in the U.S. Statista predicts the gambling market to compass $94 billion in 2024. Dating companies’ revenue will amount to $1,968 million in 2023. All of these are high-risk businesses. However, they struggle while finding an appropriate payment gateway.

High-risk merchants are those that sell products considered as high risk or work in such type of industry. In doubt, if your business type is high risk? Then read this guide from our Glossary.

The most significant pain points of high-risk merchants

Since you represent one of the companies labeled high risk, you know the main “pains.” Most commonly:

  • It is hard to place the high-risk businesses
  • Payment service providers demand high pricing, especially for newly branded high-risk businesses
  • Payment service providers are afraid of the potential level of high chargebacks and fraud

In this article, we have prepared a list of five payment service providers that gladly take you on board. Of course, you might not get instant approval. However, credit card processing will be possible for you. So, before choosing a payment gateway, compare the features they have. Make sure that the PSP solves the accompanying pains.

Top five payment service providers for opening a high-risk merchant account

1. iPayTotal

credit card processing

For starters, we’ll look at iPayTotal, a London-registered company that caters for the high-risk merchants’ needs. The company values a customer-oriented approach. So, iPayTotal claims to work the extra mile to ensure businesses’ security and provide top-class support.

  • Fees. The company states to have competitive market fees.
  • Industries. iPayTotal works with Forex, gaming, CBD, bitcoin, replica, online pharmacy, and travel merchants.
  • Fraud & chargeback prevention. In-house management tools.
  • Security. PCI DSS Level 1 compliance.
  • GEOs. Built-in international distribution.
  • Payment methods. Visa, MasterCard, JCB, Qiwi Wallet + alternative methods.

2. PayKings

payment gateway

PayKings is a St.Petersburg-registered PSP that specializes in accounts for the high-risk merchants. The company offers advanced high-risk merchant services. Thanks to them, clients can easily trace single transactions, as well as batch totals.

  • Fees. 1% + cards’ brand interchange fees.
  • Industries. PayKings works with adult, vape & e-cigarettes, dating, pawn shops, travel, firearms, nutraceuticals, debt collection merchants.
  • Fraud & chargeback prevention. Partners with iSpyFraud.
  • Security. PCI DSS Level 1 compliance.
  • GEOs. Provides international merchant services.
  • Payment methods. American Express, VISA, Discover, MasterCard, Diners Club International, gift & loyalty cards, and signature debit cards.

3. PaySpacelv

instant approval

PaySpacelv is a Riga-registered PSP. Pick it when on the lookout for a high-risk merchant account. The company focuses on providing tailored solutions and features to satisfy businesses’ needs. Moreover, PaySpacelv has highly effective technical service. As a result, merchants can skyrocket their sales.

  • Fees. Start at 1.2%.
  • Industries. PaySpacelv works with cryptocurrency, dating, skill games, nutraceuticals, forex, PC support, essay, hosting, astrology, gambling, VPN, marketing services, and advertising merchants.
  • Fraud & chargeback prevention. The company has its own chargeback & prevention software.
  • Security. PCI DSS Level 1 compliance.
  • GEOs. 130+ countries.
  • Payment methods. Visa, MasterCard, AmEx, Discover, and much more payment methods + alternative payment methods (Klarna, SEPA, iDEAL, Qiwi, Webmoney, prepaid cards, bank transfer, etc.)

4. RISK Payments

payment service providers

RISK Payments is a Tempa-based high-risk payment processor. The company’s motto is “One size doesn’t fit all.” As a result, RISK Payments offers flexible solutions when it comes to opening a high-risk merchant account.

  • Fees. Start at 2.49%.
  • Industries. RISK Payments works with collections, nutrition supplements, travel & tours, direct selling, online pharmacy, telemedicine, and merchants from other industries.
  • Fraud & chargeback prevention. It provides automated anti-fraud protocols.
  • Security. PCI DSS compliant.
  • GEOs. Provides international merchant services.
  • Payment methods. Visa, Amex, MasterCard, UnionPay International + other major credit cards.

5. Twispay

payment processing companies

Last but no least, Twispay is a Bucharest-based payment provider that processes high-risk businesses. The company’s priority is providing a top-notch customization experience. Therefore, the merchant gets a perfect fit for its needs.

  • Fees. Start at 3.5%.
  • Industries. Twispay works with travel, gambling & betting, crypto exchange merchants.
  • Fraud & chargeback prevention. Fraud Monitoring and Alert System.
  • Security. PCI DSS Level 1 compliance.
  • GEOs. European Economic Area (aka EEA) and Switzerland.
  • Payment methods. Twispay processes the most common payment methods.


The credit card processing for the high-risk merchants may be complicated. However, the list of five proven payment service providers makes their lives easier.

Firstly, stick to the provider that fits your needs and has expertise in your industry. Make sure the pricing is fair (for example, PaySpacelv offers a transparent fee structure).

Secondly, remember that fraud & chargeback prevention is your top priority. As a result, the PSP must have such a solution. For instance, PaySpacelv has its trustful fraud & chargeback prevention software. Consequently, all suspicious activity is under control. Most importantly, the liability won’t lay on the third party.

Thirdly, to help you reach a wider audience, the PSP needs to have an international presence. Besides, it should offer as many payment methods as possible. Thanks to a vast choice of traditional and alternative payment methods and global coverage, PaySpacelv stands out from other PSPs.

Finally, it’s time to hear from you! What are the main “pains” you face? Leave a comment and let’s see how we can solve them.