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High Risk Merchant Solutions Explained: Pricing, Support & Customer Experiences

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Maintained Since: June 20, 2019

We take our role in providing guidance and education regarding the card payment industry very seriously. At our own expense, we have vigorously defended our right to continue expose unethical and predatory practices in the industry, successfully defeating every attempt to silence us. However, fending off frivolous lawsuits is costly. To sustain these efforts, one of the ways we generate revenue is through affiliate partnerships with ethical providers. This means that some of our outgoing links connect business owners to trustworthy, low-cost payment processors, which is what most of our readers seek. We see this revenue channel as a win-win-win for everyone involved. Business owners find good processors, processors get good clients, and we are able to continue to provide a valuable service to the small business community. We also recommend and link to many services that do not compensate us. Our priority is to guide you to the best solutions for your needs, regardless of potential revenue. If you have questions, please feel free to contact us.

All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

High Risk Merchant Solutions
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Note: High Risk Merchant Solutions' website is down as of 2023. We are currently unable to determine whether the company is still operating or not. If you have any information, please let us know in the comments below.

Overview

In this review of High Risk Merchant Solutions, we provide a detailed overview of the company’s payment processing options for high-risk businesses. We cover their credit card processing services, point-of-sale systems, and e-commerce solutions, along with their pricing structure, contract terms, and customer feedback. The review also looks at fee transparency, the quality of customer support, and overall satisfaction levels reported by clients. By the end, you’ll have a clear understanding of whether High Risk Merchant Solutions is the right fit for your business’s payment processing needs.

About High Risk Merchant Solutions

Screen Capture for High Risk Merchant Solutions
High Risk Merchant Solutions

Founded in 2015, High Risk Merchant Solutions is a merchant account provider that serves both standard and high-risk businesses. The company is powered by The Steward Group, which is the organization behind 2 other payment processors named ASAP Merchant Services or ASAP Solutions Consulting and The Southern Institute. ASAP Merchant Services and The Southern Institute list the same contact phone number, which may indicate that they are the same company.

High Risk Merchant Solutions claims to offer CBD merchant accounts as well as credit card processing for retail, travel, timeshare, telemarketing, credit monitoring, offshore payments, continuity, herbal medicines, MLM, nutraceuticals, and e-cigarettes. High Risk Merchant Solutions processes all major debit and credit cards for high-risk businesses.

Customer Reviews & Sentiment

No Public Complaints

Currently, there are no negative High Risk Merchant Solutions reviews found, indicating that the company is likely not involved in any scams or ripoffs. With over three years of operation, maintaining a clean complaint record is a positive indicator of ethical business practices. This absence of client complaints suggests the company operates with integrity. If you have your own High Risk Merchant Solutions review, please share it in the comments below.

High Risk Merchant Solutions Lawsuits and Fines

No outstanding class-action lawsuits or FTC complaints have been discovered against High Risk Merchant Solutions. Clients dissatisfied with the company’s services and seeking recourse may consider reporting their concerns to relevant supervisory organizations.

It’s worth noting that obtaining legal information about the company is challenging due to its generic name.

High Risk Merchant Solutions Customer Support

Unfortunately, High Risk Merchant Solutions does not provide any customer support contact information on its website. This omission falls below the expected standard of service from top-rated payment processors for excellent customer service. Despite this, the company appears to effectively support its merchants.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop5
BBBN/A

PaymentPop Rating for High Risk Merchant Solutions

Negative Feedback

There are no negative reviews published about High Risk Merchant Solutions on the PaymentPop website.

Positive Feedback

As a high risk business, we struggled to find a processor that would work with us until we found High Risk Merchant Solutions. They helped us get approved quickly, explained all the terms clearly, and set us up with a stable, reliable system. It’s been a huge relief.

No BBB Profile Available

The Better Business Bureau does not maintain a profile for High Risk Merchant Solutions at this time. We therefore will not factor a BBB rating into this review.

Processing Rates & Fees

Variable Contract Terms

High Risk Merchant Solutions (HRMS) keeps its pricing private, with no detailed HRMS reviews available that disclose specific rates or fees. The company advertises varying “as low as” rates for different types of high-risk businesses: 2.99% for domestic high-risk merchants, 0.59% for standard-risk businesses, 4.50% for international offshore accounts, and 1.00% for e-commerce. However, these rates are promotional and don’t guarantee actual costs for clients.

Given HRMS’s focus on diverse payment processing, including offshore options, contract terms likely differ based on business type, location, and processing history. While HRMS offers payment processing equipment, businesses should be cautious of potential long-term equipment leases and consider purchasing their own equipment to avoid restrictive agreements.

Virtual Terminal and Payment Gateway Pricing

HRMS also promotes its virtual terminal and payment gateway services, but specific pricing details are not public. Advertised e-commerce rates starting at 1.00% are likely introductory and may not apply uniformly, particularly to high-risk clients. Typically, additional fees like gateway fees, technical support fees, batch fees, and transaction rates are part of these e-commerce services.

High-Risk, High Fees

High-risk businesses partnering with HRMS should anticipate higher fees and possible cash reserves due to the increased chargeback risks. Transparency about business type and products with HRMS can help mitigate fund-holds and chargeback issues.

High Risk Merchant Solutions CBD Pricing

HRMS previously offered CBD payment processing without contracts or monthly minimum fees, possibly through Elavon. With Elavon’s recent exit from CBD accounts, HRMS may now have altered its CBD contract terms.

No Red Flags

There are no notable complaints about HRMS’s pricing, suggesting client contentment. However, the potential range of contract types necessitates diligence by business owners to discern any unfavorable terms.

For more merchant account options, readers are encouraged to review our list of the best merchant accounts.

Employee Reviews & Sales Practices

Inside Sales Team

High Risk Merchant Solutions appears to rely on an in-house sales team and referral partners to market its services. Despite the fact that the company may employ independently contracted sales agents, we have not found any High Risk Merchant Solutions complaints that mention deceptive conduct. We will therefore assume for the time being that the company’s sales approach is transparent and ethical.

This compares favorably to our list of best credit card processors.

High Risk Merchant Solutions Rate Quotes

High Risk Merchant Solutions lists rate quotes “as low as” 2.99% for high-risk, 4.50% for offshore, 0.59% for retail, and 1.00% for e-commerce. These High Risk Merchant Solutions rates are likely not all-inclusive and will not be the effective rate paid by the vast majority of the company’s clients. We therefore consider them to be slightly deceptive because they could give merchants an unrealistic expectation of the rates they will pay. If you suspect that a High Risk Merchant Solutions sales agent has misled you about your rates, you can double-check your monthly bill with a third-party statement audit.

High Risk Merchant Solutions Competitors

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Bottom Line

High Risk Merchant Solutions rates as a reliable credit card processing provider according to our rating criteria. The company maintains a clean complaint record and caters to both standard and high-risk merchants. However, detailed information about its pricing and fees remains elusive. We will continue to monitor the company and update this review as more data becomes available.

Readers should compare High Risk Merchant Solutions’ pricing with that of other top-rated high-risk payment processors to ensure they are receiving the best possible rates and terms. This thorough comparison will help businesses secure a payment processor that aligns well with their specific needs.

Location & Ownership

High Risk Merchant Solutions does not disclose its location or its acquiring bank. However, Carlos Anderson, a managing partner at “Steward Group Merchant Processing”, lists his location as Aspen, Colorado.

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