INT + 0. PaymentCloud: Best for high-risk businesses. 6 position in our Best Credit Card Processing Companies of 2023 rating. It is the acquirer’s responsibility to monitor a merchant’s compliance and ensure that High-Risk Merchant Account vs. If a business is at a higher risk of fraud or chargebacks or falls into specific sectors, such as subscription eCommerce, it must obtain a high-risk merchant account to accept card payments. For more information, visit the Host Merchant Services website or call (888) 727-4538. Depending on which kind of credit card your customer uses, the cost of processing varies. Standardized fees so you’re never surprised by a higher-than-usual cost. 95% for normal merchant accounts. High-risk Merchant Account Vs. Unlock the Benefits of a Low-Risk Merchant Account for Seamless Transactions. When it comes to low risk merchant accounts, typically the reoccurring monthly fees are low or minimal, but that is not the case with a high risk credit card processing merchant account. For a more detailed list of. Unsurprisingly, their business indeed sells fireworks, which are associated with higher risk. On the other hand, high-risk merchant accounts deal with high-risk items like cannabis, tobacco, firearms, airplane tickets, virtual currencies, and pharmaceuticals. Stax by Fattmerchant. Fastest payouts: Chase Payment Solutions. 3 Signing up for NMI: 2 types of website owners. Merchant services include payment processing, merchant and business bank accounts and point-of-sale solutions. Merchant One’s competitive rates range from 0. Wave: Best For Independent Contractors. Helcim is a fantastic choice for small businesses looking for low rates and no monthly subscription fees. Get a free card swiper from Square at no cost when you create a free account. High-risk businesses are typically those that are new, have a history of credit problems, or operate in an industry that is considered controversial or. If your business is primarily online and accepting payments at any given time, having round-the-clock support and easy setup ensures minimal downtime and a fast response to any issue. Even high-risk merchant processors have specializations. A high-risk merchant account is a business account or merchant account that allows the business to accept online payments though they are considered to be of high risk nature by the banks and credit card processors. PaymentCloud: Best For High-Risk eCommerce. Our selection criteria evaluate cost, transparency, contract requirements, and features. PAYARC: Best ACH Processor for Recurring Billing Management 3. You’ll probably face a higher fee to set up your merchant account, and then. However, the company specializes in serving the high-risk community, accepting a very wide variety of industries that ordinarily struggle to get approved for credit card processing. Claims made by payment processors to “pre-approve” or “instantly approve” high-risk merchants within 24-48 hours are very misleading. These risk tiers help Visa and payment processors determine the level of monitoring and oversight required for each merchant. However, firearms merchants are also classified as high-risk and obtaining an online firearms merchant account is extremely difficult. Subscription-based companies that. Many companies consider this to be having a merchant account. You already have a merchant account and only need the NMI gateway. With regulations on payment processing getting more strict, you will need a solution you can rely on. Worldwide vaping sales reached $15. 30. Offshore bank accounts offer benefits such as lower taxes, increased privacy, and expanded global reach. , cannabis or. It has chargeback prevention features (including an auto-response feature to fight chargebacks quickly) and two popular payment gateway options—and each. PayPal – Best for a pay-as-you-go pricing structure. High-risk merchant accounts are necessary for merchants to process credit cards when deemed at high risk for chargebacks and fraud. 55% for. Be prepared for a site inspection; this is often times required by high risk processors. - Accepts wide variety of high risk industries. Businesses that need a regular cash flow can request same-day funding for no extra fee. High-risk merchant. Some are top-rated third-party processors suitable for low-risk businesses, though we also included a couple traditional merchant account options that offer same-day approval. If it can’t, it’ll pay you $500. - No early termination fee even for high risk businesses. Our risk department is in place to determine risk levels on merchant accounts. This can range anywhere from 20 to 40 Bps (basis points) to around 3%). But, if you choose a low-risk processor, then you have many. within seemingly “low-risk” MCCs. PaymentCloud is a merchant services provider. These risks could range from a high likelihood of chargebacks and fraud to legal. Low-risk merchants also. One payment platform. 2 days ago · Its monthly fee is $0, and it stays that way with no hidden costs or fees. Clover offers credit card processing services on a subscription basis, with fees ranging from $9. This label is often due to the. After successfully applying for a merchant account, you will be assigned a Merchant ID (MID). Merchant account providers like banks and third-party payment processing companies typically set higher fees and stricter limits for high-risk businesses as a way to protect themselves in case of. Helcim: Best For Growing Businesses. low-risk merchant accounts have become an essential topic as various factors can determine your risk level as a. This payment service provider makes high-risk merchant accounts accessible to businesses considered high-risk, like tobacco and e-cigarette sellers, credit repair companies, online liquor stores, and more. PaymentCloud: Best for high-risk businesses. In the event that you’re considered a high-risk merchant, you’ll have to pay a premium. Add to this the chance of facing a chargeback review, which might cost as much as. 8. High-risk merchants, as stated earlier, are the ones the payment processors consider risky and more prone to fraud. Transaction types: In-person, recurring and online payments. High-risk businesses are also more likely to have returns, refunds, and chargebacks. The usual process involves approaching a payment processor and applying for a. Most providers publish a. PaymentCloud – Surcharging. Leap Payments Agent/ISO program is specifically designed around getting your high risk merchants approved and keeping them open for the long run. They’ll review. Average transaction of less than $500. Merchants can easily make the mistake of choosing a low-risk processing option as they are very convenient, easy to get up and running, and great for low-risk processing. The greater volume simply. We won’t penalize you for being profitable, and we will help maintain your account stability. Every payment gateway will have its own measurement criteria to determine whether a merchant falls in the category of high-risk or low-risk. Our combined 30 years of experience allows us to confidently offer a distinguished service, with both integrity and great value. net is a payment gateway company that provides payment processing options for businesses, especially small and independently-owned businesses. When it comes to low risk merchant accounts, typically the reoccurring monthly fees are low or minimal, but that is not the case with a high risk credit card processing merchant account. 3/5 based on more than 15 reviews. If you have. 1. Visit Site. These businesses often operate in industries that, for various reasons, carry a higher level of risk. Just as importantly, the criteria that determines what low-risk is needs to be addressed. A merchant account is a contract between a company and a financial institution that allows the company to accept. These credit card payment processors offer merchant services with reasonable costs, accessibility, transparency, and good overall value. High Risk Merchant Solutions lists rate quotes “as low as” 2. Square will allow these companies to use their service and offer steady rates. National Merchants Association. : Best for invoicing Paysafe : Best for businesses in high-risk industries PayPal : Best for digital payments Merchant One : Best for companie with less-than. Your high-risk merchant account is different from a regular one in many. Low-Risk Merchant Account There are a few differences between a low-risk merchant and a high-risk merchant in the eyes of a. Our payment gateway services give you access to information regarding your merchant account solutions. You may have an interchange-plus scenario where the. Low-Risk Merchant: High-Risk Merchant: Average monthly sales volume: Less than $20,000: Over $20,000: Average credit card transaction:. Some of the most common businesses the platform specializes in include health and beauty, fantasy sports, financial and legal services, firearms, travel, tobacco and vape, SaaS, and. HMS was originally a traditional merchant account provider that equips low-risk businesses with payment processor systems. Low risk or high risk — every business can benefit from a merchant account in Spain. With reliable customer service and a user-friendly platform, your merchant services provider becomes a partner. The other way that payment processing services hedge against risk is to require high-risk merchants to maintain. Shift Processing Reputation and Reviews. In other cases, processors may give a company an account, but quickly close it because of too many transactions. Research alternative payment processors and find one that is willing to work with you. Review merchant submissions of SAQs, network scanreports , and Reports on Compliance (ROC), if applicable, to determine that a merchant is in compliance with the PCI DSS. MENU MENU. We believe that business owners who keep their accounts in good standings deserve something better. eMerchant Broker approves 99% of the applications from low and high-risk merchants. 5% - 5%. Published: November 14, 2022. WRITTEN &. On the one hand, a merchant might be considered high risk due to the business itself. 05%-0. e. But companies like PaymentCloud can help you find competitive processing rates. Flagship Merchant Services: Best ACH Processor for Fast Approval and Onboarding 5. Market-leading risk and fraud protection. Leaders Merchant Services – An established online payment processor with negotiable rates. During the merchant underwriting process, the payment provider will assign a risk level to the merchant account application. Authorize. Seamless Integration. A lot of standard merchant accounts have no contract. You might get a rate of about 0. 20% + $0. A lot of standard merchant accounts have no contract. com has dealt with all types of merchant accounts, credit card processors, high chargebacks, low chargebacks. Low-risk merchant accounts tend to enjoy more privileges, such as lower processing fees for every transaction and the ability to negotiate for more favorable pricing and contract terms. The processor also works with high-risk merchants. The documents that you need to apply for a high-risk merchant account are as follows:As a high-risk merchant account provider, Durango Merchant Services also offers fraud and chargeback mitigation services to help protect your business from financial losses. A high-risk merchant is a company with which most credit card processors will not do business due to the merchant’s potential for fraud or high customer dispute volumes. Standout Features. Visit Site. National Processing: Best for low transaction fees. PayKings (Merchant Payments Acceptance Corp LLC) is your powerful partner in global transaction Low, Medium, and High Risk Merchant Accounts processing solutions through US acquiring banks and. Work with a reputable end-to-end processor if possible for the best chance of fair and consistent pricing. Customer support for point of sale (POS) transactions. Easy Pay Direct is a payment gateway and merchant account provider that serves a wide variety of high-risk and low-risk industries. However, these two accounts vary. Often called wholesale or base fees. The first thing to know about choosing a processor is that there are low-risk and high-risk processors, with very little overlap between the two. e. Opting for a low-risk merchant account provides multiple advantages, such as lower processing fees. 29% to 1. Actum Processing offers processing for high-risk merchant accounts as well as businesses with a lower level of risk. Low-risk industries have a lower incidence of fraud or chargebacks. Corepay is a newly established merchant account provider that accepts both low-risk and high-risk merchants. There’s a processing volume limit that, if reached, can freeze your funds and possibly result in account termination. Rely on the Instabill team to get you a high risk merchant account business, today. With Leaders Merchant Services (LMS), you’ll benefit from a high approval rate, easy setup, and a broad feature set, ensuring a seamless credit card processing setup regardless of your industry. Over the years AdvantageProcessors. Low risk. Reading Time: 8 minutes The vape and e-cigarette industry is nothing short of electric. Get a. The monthly fee starts from $9. Compare Quotes. A high-risk merchant account is a type of business account offered by a payment processor or a bank, designed specifically for businesses deemed “high-risk. Whether you are looking for high-risk merchant processing services or a low-risk merchant services, it all comes down to risk. During this five-year period, you cannot use your low-risk merchant account. Enjoy credit card processing solutions, a secure payment gateway, credit repair, a virtual terminal, etc. Regular Purchases Below $500 on Average; The use of a single currencyThe processor will consider your business to be less risky if you process transactions in person rather than online or via phone. Stripe: Best for international payments. $20,000 or more in monthly transactions. Standard credit card processing fees generally range from 1. 1. . Stax: Best for high-value transaction. No percentage markup: Payment Depot. 3. Some examples of low-risk merchant accounts are gas stations, grocery stores, pet stores, auto part stores, and parking garages. National ACH specializes in offering high-risk merchant accounts to process ACH, e-checks, debit cards, and credit cards. Call us Toll Free (866) 509-7199 Accessibility Click here for Accessibility adjustments. Merchant category codes — or MCCs — are four-digit. To lower risk, the merchant account provider may seek address verification. Your merchant account provider will send the transaction details through its backend processor to the customer’s card issuer . Underwriting process: The payment processor conducts a thorough review of the business’s industry, financials, chargeback history, and other relevant factors to determine the risk level. National Processing: Best Nonprofit Credit Card Processor For Low-Cost ACH/eCheck Processing; 4. In the United Kingdom, it is roughly 3. At Payment Savvy, we are high-risk merchant account experts and have tailored our products and services to cater directly to these businesses. Our hard working team at the corporate headquarters. These types of institutions typically shy away from businesses that are more “financially risky”, have higher than average chargebacks, and incidences of fraud. 5 Cheapest Credit Card Processing Companies In 2023. Low-risk rates, as low as $99 per month and $. A low-risk merchant account needs to meet many requirements, including a smaller number of transactions, low chargebacks, and low revenue. Accepts both High and Low risk merchants. Processes less than $20,000 monthly. Merchant category codes — or MCCs — are four-digit. However, you can also use the EPD Gateway with. 50% + $0. A high-risk merchant account is a special type of payment processor created for businesses with a higher risk of chargebacks and fraud. When a merchant is processing too much in a given month, it can be a red flag for fraud or incoming chargebacks. The following are some differences between low and high-risk merchant account that you should know: Low-Risk Merchant Account. The industry is low-risk overall. Banks have special stipulations for boarding high risk accounts. Interchange fees are set by Visa, Mastercard and other card brands. 15. Our low-risk merchant accounts are perfect for nearly any industry, including: Convenience Stores Specialty Retailers Low-Risk E-commerce Clothing Boutiques Auto Dealers. 95% for every transaction compared to 0. High-risk merchant category refers to the industries or types of businesses considered to have a higher level of risk by financial institutions, payment processors, and acquiring banks. Low-risk merchants are generally established merchants that process less in volume, have lower ticket averages, have little to no chargebacks, only transact in 1 currency. We do this through. It guides all the. With most buyers inclined to pay with a card, a Spanish merchant account is a no-brainer for businesses that want to keep their products and services accessible. Some of the features to look for when comparing gun-friendly payment processors include: Low high-risk credit card processing fees. Visit Site. Most processors spike their rates quarterly, and some even do it as often as a monthly rate increase. It’s ideal for small businesses with less than $50,000 in annual credit card transactions. PaymentCloud: Best for high-risk businesses. No offline paperwork, no faxes, no waiting. A high-risk payment processor that offers multi-currency support and multi-payment mode and reduces the risk of merchant issues is key for any business. A low-risk account may see a processing rate of 0. Determine your risk level. Square. : Best for low. Wave: Best For Independent Contractors. Shopify: Best For eCommerce Businesses. However, you can also use the EPD. Our specialization in UK high. Read Review; PaySafe. Call us Toll Free (866) 509-7199. TL;DR: A high-risk merchant account is a service that processors offer so that entities in fraud or chargeback-prone industries can accept card payments. What Underwriters Look For When Approving European Merchant AccountsHigh Risk & Low Risk Merchant Accounts. Why Join NMA?. Average card transaction is below $500. It accepts payments via various methods including credit/debit cards and ewallets, and offers merchants the Card Machines for POS, mobile, or virtual payments. Need a Merchant Account for your CBD Online Store? High Risk Merchant Account & Payment Gateway Provider⚡ Instant Approval Contact us ☎ (800) 956-1277. So, they turn down many applications. They also need to manage inventory, develop the company brand, and promote the products or services. The term bad credit merchant account simply means a merchant. 17 According to the article entitled "Merchant Acquirers and Payment Card Processors: A Look Inside the Black Box," authored by Ramon P. We provide merchant account services for both low and high-risk businesses. INT + 0. When opening an online business, the best way to generate revenue is through sales. PayPal: Best For Seasonal Or Low-Volume Businesses. All low-risk Host Merchant Services accounts come with month-to-month billing, but high-risk merchants may have. 0 fraud filtering and deterrent software. The best credit card processing companies of 2023 include SquareUp (best for small businesses) and Stax (best for subscription-based pricing). Low-Risk Merchant Account?. clothes, shoes, kitchenware, food. Stripe: Best for international payments. Easy Pay Direct: - Primary product is proprietary EPD gateway. NACHA, the governing body of The Automate Clearing House (ACH), implemented same-day ACH processing, effective March 16, 2018. If you can limit your chargebacks, you should find that more payment processors accept you as a low-risk merchant A business that accepts credit cards for goods or services. What Is Corepay? Corepay is a newly established merchant account provider that accepts both low-risk and high-risk merchants. 25% + $0. Dharma Merchant Services: Best for merchants who process more than $10,000/month. Rates and Fees For Chinese payment processors. 99% for high-risk, 4. Categories within the VIRP: Low-Risk Merchants: Low-risk merchants are. These credit card payment processors offer merchant services with reasonable costs, accessibility, transparency, and good overall value. Credit card transaction that is less than average of $500; Minimized Returns; Less than $20000 processed monthly; Zero to low chargeback ratio (These are, for instance, low-risk shoes and clothes, baby. Payment Cloud. Other examples of high-risk businesses include bail bonds, electronics, and credit repair companies. 1) Interchange fees are generally a small percentage of the total fee a merchant pays to process a credit card or debit card. This means a merchant doesn’t physically see the customer’s card, and there is a higher risk for fraud and chargebacks. Third is vaping and e-cigarettes. To cover this risk, processing costs are greater for high-risk merchant accounts. Merchant One is the best credit card processor with easy and fast approval due to its 98% approval rate. They only started providing high-risk merchant accounts in later years. since that is why many merchants end up seeking high-risk merchant processing in the first place. Merchant acquirers carefully assess various factors, including industry type, transaction volumes, and chargeback ratios, to categorize merchants as low or high risk. You will be labeled as low or high-risk when you apply to open a merchant. The increased processing costs that high-risk merchant accounts are required to pay are a form of compensation for the risk that the payment processor is taking on. High-risk: A high-risk merchant account is intended for online businesses with a high percentage of chargebacks and returns. Fortunately, at Shark Processing, we specialize in high-risk payments and can assist you in opening a high. Here are a few of. Transaction fees: Often range between 1% to 3% of the transaction value. Fortunately, many high-risk merchant account providers also offer payment gateway products to their clients for added convenience. The best high risk merchant processors like EMB make business ventures hassle-free for everyone. Low-risk merchants generally deal with less than $20,000 of credit card processing per month. You can expect to pay a flat monthly fee of about $9. This can rage anywhere from 5-20%. Once you receive approval, find a compatible payment gateway to connect to your merchant account—this will allow you to accept online payments on BigCommerce’s platform. High-Risk Merchant Account Processing Solutions. 3% plus interchange if you’re. It is a superb tool for low-risk merchants, as it allows for ACH, credit card payments, and invoice creation with seamless integration into QuickBooks accounting software. Vape and E-Cig Merchant Accounts. Host Merchant Services: Best Nonprofit Credit Card Processor For Great Customer Service; 7. Here are the best ACH processing companies, including providers like PaymentCloud,. A competitive payment processing fee for a standard retail small-business account might be 2. In that case, you may qualify for low-risk solutions and rates. Fireworks A merchant with the word “fireworks” in their name was assigned MCC 5399, a low-risk category. Aggregators are playing the safe game and want low-risk merchants with low-risk transactions. Square: Best for point of sale (POS) Payment Depot: Best for flat-rate pricing. Zero or low chargeback ratio. Average transactions below $500Learn about high-risk merchant services & your 6 top options. If you’re a low-risk merchant processing at least $10,000/month, it’s worth seeing if National Processing can offer you a better rate than your current merchant services provider. PaymentCloud: Best For Nonprofits Considered High-Risk; 5. Support for online sales. Credit card processing services from Instabill enables merchants accept credit card payments online for their e-commerce, MOTO or retail businesses. Flagship Merchant Services:. 02. It offers the lowest monthly pricing we’ve come across so far at $13. You may also end up paying for a long list of services such as PIN debit network fees, payment gateway fees, monthly account fees, and more. What are high-risk merchant account and low-risk merchant account? Before jumping into finding the ideal merchant service provider, you need to answer some. In general, low-risk merchant accounts can negotiate better pricing terms and access lower processing fees per transaction. Here is a list of the most popular payment providers in the market. PAYARC – Offers the best payment gateway for processing international transactions. Set up complete ACH and eCheck payment options to accept and initiate direct deposits. We offer the leading merchant account credit card processing services in the country. . Unlock the Benefits of a Low-Risk Merchant Account for Seamless Transactions. How To Offset Or Lower Your Credit Card Processing Fees - March 14, 2023. Stripe Payments: Best For eCommerce Businesses. 5 in our rating of the. Although they typically work with many types of high-risk industries,. Authorize. Even though low-risk merchants also pay a chargeback charge (an expense you pay when a client disputes the charge directly using the credit card they use) However, high-risk merchants usually have higher charges for. These businesses often operate in industries associated with high chargeback rates, potential fraud, and legal or regulatory issues. Low-Risk Merchant Account There are a few differences between a low-risk merchant and a high-risk merchant in the eyes of a payment processor. THE MERCHANT ASSOCIATES DIFFERENCE. GoCardless Review - January 10, 2023. A low risk merchant either does not check off the above boxes or has a business plan that the processing company approves of and forgos the high risk assignment. One such option is eMerchant Authority which offers bad credit merchant accounts that your business needs to be able to receive payments. Card-not-present fraud typically occurs with transactions online or over the phone. Generally, the cheapest high-risk account is. Flagship Merchant Services: Instant Funding for New and High. Merchants with recurring annual or monthly fees. Visa, MasterCard, American Express, and Discover all have different merchant processing fees. Our high risk merchant accounts provide: EMB is the #1 solution for high risk merchants offering all-inclusive payment processing solutions for every kind of business with a 99% approval rating. Square. Higher Processing Costs. As with Square’s extremely popular services for low-risk businesses, the company fully discloses all prices for its CBD program on its website. Ideally, keep your average credit card charges below $500. Being a high-risk merchant doesn’t mean your business should expect to receive a second-rate payment processing solution. SMB Global exclusively deals with high-risk and international businesses. By. However, the. 95, depending on your plan. Understand your PCI compliance requirements. As your Store starts to get hit with chargebacks , your fees significantly increase and can get your merchant account frozen or terminated, especially when working with low-risk processors such as Shopify Payments/Stripe. Leaders Merchant Services: Best for Small Businesses Interested in Cash Advances and Loans 3. Since account providers consider high-volume merchant accounts to be at higher risk, you will pay more for your credit card processing. Each merchant service provider received a rating based on over 50 data points. In simple terms, a high-risk merchant account is a payment processing account for businesses considered as ‘high-risk’ by credit card processors or banks. Visit Site. Chase Merchant Services: Best for fast deposits. Corepay is a domestic and offshore merchant account provider for both high-risk and low-risk businesses, advertising its services to the adult industry, CBD and hemp vendors, eCommerce merchants, online dating services, and other business categories. Unsurprisingly, their business indeed sells fireworks, which are associated with higher risk. Before you’re approved for a merchant account, payment processors will decide if you’re a low risk merchant. The merchant may have misused the customer information to facilitate the creation of an unauthorized RCC or ACH debit file by the processor. Signature Payments is the #1 payments company in the industry of high risk vape and E-Cig merchant accounts. PayKings (Merchant Payments Acceptance Corp LLC) is your powerful partner in global transaction Low, Medium, and High Risk Merchant Accounts processing solutions through US acquiring banks and. Square: Best overall. - Load balancing feature for high risk merchants. The application process for high-risk payment processing can be time-consuming and require extra effort. MerchACT is a leader in UK high risk payment processing. PaymentCloud Top Rated Credit Card Processor for High Volume Merchants. Certain industries are low-risk when it comes to processing credit cards, while others are high-risk. You’ll probably face a higher fee to set up your merchant account, and then you’ll pay roughly 4-10% on every transaction compared to around 1-2% for a low risk account, which can have a serious dent on your margins. We go above and beyond to make sure that you thrive as a high-risk merchant account. This can rage anywhere from 5-20%. 1. The processing costs for all transactions will often be higher than those charged by low-risk merchant accounts. Here’s an overview of what may land you in the high-risk credit card processing category as opposed to the low-risk one: High risk. It is the unique code provided to store owners by their payment processor. The general features of low risk merchants include the following; Have a processing history of less than $20,000 per monthAnd, while it charges $200 per month for “enhanced merchant monitoring and due diligence,” high-risk merchants can access many payment processing options competitors offer to low-risk merchants. Low Risk Vs High Risk Payment Processing refers to the two categories of payment processing that businesses can choose from based on the level of risk associated with each transaction. Each bank sets the rules and regulations for payment processors. The company’s EPD Gateway is its primary product, with merchant accounts provided through partnerships with numerous major US and international processors and banks. Doesn’t matter whether your business model is classified as high-risk; if you have a bad credit score, you have to go for the high-risk merchant account, high-risk payment processors and high. 9158 9-5 EST and watch us actually pick up the phone! Thousands of Business Need Merchant Accounts and Credit Card Processing Every Year. Moonlight Payments Overview. 855-794-1134. Easy Pay Direct is a payment gateway and merchant account provider that serves a wide variety of high-risk and low-risk industries. So you might think you're avoiding the high-risk/low-risk merchant account issue, but to Square and the others, every account is a high-risk account and gets treated accordingly. Credit Card Processing Reviews. Low-risk merchants generally have a low chance of fraud and minimal sales amounts. 06. The online merchant has additional responsibilities. It also comes in at No. Some are top-rated third-party processors suitable for low-risk businesses, though we also included a couple traditional merchant account options that offer same-day approval. 1. 1. Merchant One offers a strong slate of features. Merchant One offers a strong slate of features. WRITTEN & RESEARCHED BY Frank Kehl Senior Staff Writer Last updated on October 12, 2023 REVIEWED BY Jason Vissers Senior Staff Writer Stripe: Best for customizing checkouts. The 7 Best ACH Processing Companies. The merchant account provider will approve your application if you fall into its low-risk. The Best Merchant Account Service Providers of 2023. We like to think of it as “High Priority”. Processing costs for all payments will often be increased and, in some cases, double those of low-risk account holders. Best value for new businesses: Square.