Partnering with PayKings PayKings specializes in Low to High-Risk eCommerce merchant accounts in almost any industry. Ebay was one of the great pioneers in the industry of online auction merchant processing. By Mike Cassidy, Storyteller, Signifyd There is nothing normal about the “new normal” for retail as COVID-19-inspired restrictions. August 10, 2023. This article will explain what exactly equipment financing is and. Reputational risk. There are over 50 chargeback reason codes between all the major card brands, and while the list is too long to cover them all here, we wanted to address the most commonly abused reasons for a credit card chargeback disputeTimeless Graphic Design With a refined approach centered around long-term design solutions, Naaman Creative’s productions are timeless. Fundamentally, the difference from a standard transaction is that Real Time Payments transfer money and messaging at the same time rather than separating the data. But PayKings has compiled a helpful list to get you started and keep your eCommerce business on track and flourishing beyond what your competitors are doing. When merchants are looking for reliable payment processing for their eCommerce or retail businesses, there are some programs available through payment processing providers to help to lower your processing fees. PayKings Blog. 999% uptime, customizes your store for a truly unique experience, offers 24/7 support with over 205,000 developers and partners – additionally Magento houses over a. Chargeback fraud or favorable fraud occurs when a dishonest customers use chargebacks carelessly which in turn causes. Higher risk of fraud. To gain further insight, you may peruse reputable online sources, including Clearly Payments and PayKings. As experts in challenging and hard-to-place merchants applying for payment processing, we’re here to get your business pre-qualified and approved with a high risk merchant. Here are some common causes: 01. PayKings: It is a top-tier provider of best merchant account services, specializing in high-risk merchant accounts and payment gateways. In addition, PayKings offers fraud protection and chargeback management services to help businesses protect themselves from fraudulent activity. These types of businesses can struggle to find sustainable payment processing from standardCARDZ3N supports global payments for credit cards, ACH, SEPA, and Crypto (140+ coins). An explosion of programs and online sites have continued to generate this services. With your payment gateway integration and a portal through the bank, you can see all of your transactions and revenue flow. PayKings is the industry-leading expert with years of knowledge and expertise in payment processing. From payment terminals, to ACH or Echeck options and other standard forms of payment acceptance, PayKings can help get your business a high risk kava merchant account. Reaction score. These industries face concerns like high chargeback rates, MATCH listings, or fraud. High Risk Merchant Account LLC specializes in high risk merchant accounts and can likely help. On top of the seamless integrations with WooCommerce and WordPress, PayKings has very particular banking relationships. Credit card processing methods fit into three levels: Level 1, Level 2 and Level 3. First, check the Enable PayKings checkbox. But you’re worried about the fees associated with high risk merchant accounts. However, PayKings specializes in opening high risk merchant accounts and we have multiple acquiring banking partners that offer credit consolidation merchant accounts. Our affordable e-commerce merchant services and online credit card payment processing seamlessly integrates with your e-commerce payment processing platform. In a world rapidly embracing digital transformation, financial transactions are evolving at an unprecedented pace. The customer pays this invoice with a debit or credit card, typically online or over the phone, making this payment a card-not-present payment. Need a Male Enhancement Merchant Account? Opening your own business takes an enormous amount of effort and planning in order to achieve success. In the end, your merchant account may drop you if you exceed a certain chargeback threshold. PayKings is leading the industry of payment processing, especially for high risk merchants. Square does not allow – “betting, including lottery tickets, casino gaming chips, Fantasy Football, off-track betting, and wagers at races. The size of the global payment processing solutions market will reach USD 62,245. Medium/High Risk Accounts. PayKings Overview. PayKings paykings. 5% yearly since 2008. How Strict Refund Policies Can Hurt You. For years, PayKings has supported and provided firearms merchant account solutions to a variety of transaction types which include: retail, firearms eCommerce, cellular (perfect for gun shows), telephone, virtual terminal, and recurring billing firearms-related companies, that include ammunition sales, gun, ammo, and accessories manufacturers. You are incorporated in a low risk state. With a focus on hard-to-place merchant accounts, this platform serves as a lifeline for businesses operating within industries deemed too risky by conventional banks and processors. Fraud is a big cause of credit card chargebacks. A consistently high or increasing chargeback ratio. A credit monitoring merchant account is classified as high risk for a variety of reasons, making it difficult to find a reliable processing partner. The best merchant service partner is one that provides you time and resources to help your customers succeed. Vindicia Subscribe drives higher revenue throughout the subscription lifecycle. There are many other businesses classified as moderate risk. For merchants, these processing fees can add up. With international world commerce thriving, many companies look for unique solutions across the globe. Wix is one of the larger contenders in this space. September 11, 2022. August 2, 2023. Auction Merchant Account. 25% for non-profits & 2. Prevention starts by knowing the resources available to help to keep your chargebacks ratio low, and more so, to take actions to prevent them. This allows our experts to offer ecommerce solutions for all verticals and business types. PayKings has multiple options for you and we make it simple to obtain a subscription box merchant account in as little as 48 hours. 5000 as a top national company in growth, and have achieved all of this growth with eCommerce merchants referred by partners–just like your company. Credit card payment processors can specialize in high risk industries or be. Step into the realm of cutting-edge payment solutions with our comprehensive guide to Level 3 credit card processing. In order to find the best CBD payment processors, like us here at PayKings, especially since the bigger, well-known banks will not take on your CBD merchant account to process transactions themselves. Furthermore, online services from dating merchant accounts make up for 70% of the worth of the market. Credit card surcharging is a fee that merchants tack onto sales to cover their credit card processing fees. Best Credit Card Processing 2021. May 18, 2023. Fraud. Ways To Get Processing For Credit Cards Finding the cheapest. PayKings is PCI Compliant and all loan types are accepted. It allows you to take credit card payments, handle more transactions, and keep your operations safe. PayKings offers payment solutions to businesses in high risk industries, which means that as payment processing providers, our banks are willing to accept the liability for the increased risk associated with those businesses that are categorized as needing a high risk merchant account. 4. Start Accepting Payments Today. Continuity billing. Over the years, Orderwave has transformed their business in many ways to meet the needs of customers. PayKings (Merchant Payments Acceptance Corp LLC) is your powerful partner in global transaction Low, Medium, and High Risk Merchant Accounts processing. These products can range from general hemp-infused clothing items, to edible cannabinoids. Vindicia Subscribe (formerly CashBox) and Vindicia Retain (formerly Select). Everyone involved in the transaction receives a percentage of the sale, which is the “ interchange “. A business opportunity merchant account is set up when a company would like to accept card payments from its customers. There are several steps when setting. The convenience they provide for pay-later. Unlike other providers, Chargebacks911 views. The company does not allow certain types of industry to process due to various concerns. PayKings offers a proven platform, a reliable payment gateway, service excellence, quick and painless application process , and the lowest possible. PayKings is a registered ISO of WestAmerica Bank that specializes in providing payment solutions for high-risk merchants. ; Account Updater – With Account Updater, you’ll minimize lost sales and declines when your customers’ credit card information changes or expires. Chargebacks are quite common when it comes to subscription box merchant accounts and this can happen for a number of reasons, but regardless of why, these chargebacks will. If you own a small or well-established business, you know that in order to accept credit cards, a payment processing fee must be paid on every transaction. That means PayKings will service companies in industries that many other payment services shy away from. WooCommerce High Risk Merchant Account WooCommerce is an ecommerce plugin for WordPress that is There are many reasons a shopper might initiate a chargeback, and understanding these can help you to fight them and even avoid chargebacks all together. 9% + $0. CBD Merchant Account Shopify. Payments typically get. MTOT Disc On Bank Statement Before we dig into. It is a powerful partner in global transaction Low, Medium,. PayKings is sensitive to the unique needs of online casino-related businesses. We also offer a Stripe Alternative with rates starting at 2. , or NMI, is the leading payment gateway service that provides processing for high risk merchant accounts. The legalities and brand associations are the principal concerns for banks and financial institutions. PayKings has multiple options for. Their model charges a monthly fee to give sellers access to the platform, and they have recently created Shopify Payments as a way to accept. Cancellation Fee. By offloading your orders to Eye4Fraud, you are tapping into the most complete consumer shopping data pool in the world. The Modern Online Dating Market. net is a payment gateway solution from Visa. Each level is defined by the amount of information that is required or passed to complete a payment (with Level 1 having the lowest requirements and potentially the highest costs) Level 2 and Level 3 card data provides more information for business, commercial. Credit Card Processing Companies 101 Trying to pick the right credit card processing company can be overwhelming. It provides high risk businesses with the necessary tools to navigate today’s eCommerce. Reply. Fill out the form to download our FREE PDF on everything you need to know about getting your business set up, running smoothly, and accepting. Learn how to become a part of our extensive partner network today! Join the PayKings Agent Program: an opportunity for individuals and businesses to earn and grow. PayKings is leading the industry of payment processing, especially for high risk merchants. Credit card surcharging is a fee that merchants tack onto sales to cover their credit card processing fees. Revenue: Unknown / Non-Applicable. High risk merchant account services will regularly employ reliable detection methods during the trade process to learn whether the card, along with the trade in general, is valid. eCig & Vape Credit Card Processing in Today’s Environment. Your high risk merchant account supplier will hold funds out of your earnings in this account before sending them to your company bank accounts. With many different types of services from certified bankruptcy, divorce paperwork, will preparation, and more, there is an abundance of services that fall into this prosperous industry. One of the main benefits Clear. We have multiple acquiring banking partners that offer coins and collectibles merchant accounts. Like Bark Box, the Hamster Mail box will include a minimum of 2 toys and 2 treats that are healthy and help keep your hamster’s teeth on point. September 3, 2023. Square does not allow – “betting, including lottery tickets, casino gaming chips, Fantasy Football, off-track betting, and wagers at races. High-risk businesses can use High-Risk Payment Gateways with Multi-MID Support for secure financial transactions. Looking for a reliable tobacco payment gateway? Choose Paykings for secure and efficient vape merchant account solutions. They dedicate themselves to delivering exceptional customer service and remain accessible round the. 5% of the total charge and $0. Hard to place merchant services are also known as high risk. Subscription Payment Processing. Petersburg-registered PSP, PayKings specializes in providing the payment services for the high-risk merchants. May 17, 2023. Lenders are ready to accept and approve applications for loans. Remember, payment processing is an ongoing effort. Because you are using a travel merchant account, you will get that $887 within 48. Apply for a quote on your merchant account through our website, or call us at 1-727-300-0277 today. High Risk Payment Gateway. With occult services like fortune-telling and psychic readings, certain banks consider the industry high risk. With PayKings, you can trust a company with years of experience across a variety of merchant account services, and the expertise required to set up an account service that will thrive in an unpredictable market. It's comparable. High Risk Payment Processing Rates and Fees. In addition, these businesses need crypto payment. An acquiring bank is a financial institution who is a licensed member of a card association that maintains the merchant’s bank account. Firearms merchant accounts are constantly under fire by big banks. How to Get a Bad Credit Merchant Account. As a business in the UK, operating businesses overseas may be difficult. High Risk Merchant Account Providers. MCC stands for Merchant Category Codes. 7. August 6, 2018. The mere variety of payment gateway options for merchants is enormous. we had a CBD merchant account with them, they have created a fake panel, they took our card date and called our customer to sell some cheap product at lesser price. January 9, 2023. The business is in a low risk industry. Two of these programs are the so-called Merchant Account Cash Discount Program and. PayKings wants to help you fully recognize why this option could be a great one for the long term success of your business. With a huge following, customers needed a way to find trust credibility through. Our policies and procedure for collecting and disclosing personal information is detailed below: This privacy statement applies to PayKings. 2. But you’re worried about the fees associated with high risk merchant accounts. MTOT Disc stands for merchant account total discount fee, and it may appear as a fee on your monthly account statement. If you don’t use payment processing solutions that accept high risk accounts, like we do here at PayKings, funds in your CBD oil merchant account can be frozen or shut down completely after the bank’s underwriting process has found the industry as high. The healing properties have come to reach numerous products across various markets. Merchant accounts have been around since credit card payments have been accepted in stores, but they also play a big role in ecommerce and the aforementioned payment gateways. Sale offers two main types of chargeback assistance, protection, and insurance. One of the main benefits Clear. We will be in touch shortly to discuss next steps!PayKings is an international payment provider for the high risk industries. Server integration method, also known as SIM, provides the choice of managing transactions on your website, however a payment gateway service provider actually. With your payment gateway integration and a portal through the bank, you can see all of your transactions and revenue flow. May 16, 2023. Data breaches are something that happens every day. These services are fine for low risk industries. Sharing an account with another retailer. Processors like PayPal, Stripe, and Square are big names in the processing industry that offer traditional services. As businesses strive for efficiency and savings in their credit card transactions, Level 3 processing emerges as a. Credit card fraud is a wide-ranging term for theft and fraud dedicated to using or involving a payment card, such as a credit card or debit card, as a deceptive source of funds in a trade. An online merchant is a business that sells goods and processes payments over the Internet. B2B payment processing exists to enable companies to make online transactions fast and accessible. A gun dealer merchant account is a. An online merchant is a business that sells goods and processes payments over the Internet. Chargeback Prevention: Navigating the Path to Secure Transactions. Find out about small business loans and how you can get a loan to start, expandWhy Your Company Has So Many Chargebacks Chargebacks could not only cause you huge financial losses but could also negatively affect your company’s reputation with credit card processors. PayKings retail & swipe credit card processing solutions allow merchants to offer flexible methods of payments at the point-of-sale, including major credit cards, debit cards, ApplePay, and ACH/checks. For companies in the USA, their fee is 2. First, if you are selling goods or services deemed as a high risk without using high risk merchant accounts or payment processors, Shopify has the authority to drop or freeze your account. 1. Chargeback clients wanted software and tools that would visualize their situation and help them make informed decisions. We offer custom-tailored solutions to merchants in the CBD oil industry that need a payment gateway for selling their CBD products in an online market. PayKings Blog. PayKings works directly with you to streamline the application process and get your business up and running quickly. A recent report by Marketdata Enterprises, Inc. The way customers check out of your store depends on which type of gateway you choose. In partnership with PayKings and the high. By implementing strategic planning and keeping crystal clear communication from the start of every project, they gain a cohesive understanding of the business. A high risk industry is a sector of business that banks categorize as riskier due to potential issues with their payment processing. Nutraceutical Merchant Accounts. A high-risk merchant account with instant approval can be the lifeline your business needs. As a result, cigar and tobacco merchants in this space typically pay higher rates and processing fees so they can operate within this uniquely regulated vertical. iSpyFraud™ ‘s extensive reporting system gives merchants a quick and easy way to review transactions, block. With a CBD payment processor that fits your. Among the industries to which PayKings provides solutions are Adult, CBD, Dating, Debt, Collection, Firearms, Nutraceuticals, Pawn. March 16, 2023. Credit Card Processing. Online auctions are responsible for making ecommerce what it is today. A rolling reserve is a strategy used by banks to shield themselves and the merchant from possible financial loss due to chargebacks from the customer. Depending upon the class, a retailer will have a swift way to offer evidence supporting the claim. Gateway Fee. As a result, this gives customers a smooth and secure online buying experience. An eCheck or electronic check is an electronic version of a paper check. Now, they are used in over 25% of all transactions. The recurring billing business model is a popular form of payment processing for many businesses, but especially for eCommerce businesses. Monthly Minimum Fee. A credit card payment processor is a tool used by merchants to process transactions. The rolling reserve amount. A cannabinoid merchant account is an essential resource for ecommerce stores that sell THC-based products. Large Merchant Case Studies. If this happens while you’re running an e-commerce store, it means that when customers visit your site, they are being turned down as they try to purchase. Although Delta 8 is gaining popularity, it is still very new. Used in combination, these strategies can help increase a travel business’s revenue and give them the security they need to grow in an. HRMA-LLC's High Risk Payment Gateway will conveniently integrate with your Shopify Store and bank approval should be a snap. Apply for a merchant account. If you’re a “hard-to-place” merchant, like a medical marijuana dispensary or hemp oil manufacturer, you likely face difficulty. PayKings has multiple options for you and we. Online and In-App. Cut all the red tape involved with getting. 3D Secure payment gateway may seem like a tech buzzword, but it could help your ecommerce or card-not-present business decrease shopping cart abandonment. By becoming a PayKings agent, you can leverage our. What Is a Rolling Reserve and How Does it Affect You? January 13, 2023. The process is easy, so you can focus on more important things. Celerant is a high-quality gun shop software that includes shooting range software and POS systems that have been serving the firearms industry for over two decades. An automotive merchant account is classified as high risk. PayKings is a merchant services provider specializing in high-risk merchant accounts. May 18, 2021. Find out here how to choose a. In the past, It has faced some challenges but the process of selling CBD online continues to evolve. Timeshares have a history of high risk in the payment processing industry. Account Updater – With Account Updater, you’ll minimize lost sales and declines when your customers’ credit card information changes or expires. It is roughly around $40 per year for each, debit, or credit. November 13, 2022. NMI enables merchants flexible payment processing anywhere. Correspondingly, you should start off your recurring payment processing with the right company. Our gateway services give you access to information regarding your merchant account including individual transactions and batch totals with comprehensive reporting tools. Luckily, here at PayKings we have put together not one, not two, but four guides to help you become an expert on every aspect of recovering payment processing. 4. A revolution was underway and it was driven by businesses with high risk merchant accounts. They have 1 month, 3 month, and 6 month subscription plans that allow you to cancel at anytime. A chargeback is a refund that the merchant is forced to give, as opposed to a refund voluntarily given. You’ll also be able to monitor important details like your number of chargebacks and refunds. Authorize. Because millennials like to use credit cards to pay, and are even partial to mobile credit card processing, particularly when they have cards that give them cash. You’ll also be able to monitor important details like your number of chargebacks and refunds. Everyone involved in the transaction receives a percentage of the sale, which is the “ interchange “. Submit the proper documentation. Some customers are more comfortable paying with echecks; they should have the freedom to pay the easiest way possible. By fully understanding the industry, we have. With landlines on the decline and more and more people cutting the cord with their cable providers, our smartphones have become both our primary point of contactHere are some of the most common reasons banks and payment processors consider your business as high risk: Large amount of chargebacks. It's a straightforward and convenient way for you to make online payments. Eye4Fraud screens, verifies, and guarantees your online orders so you can sell and ship with confidence. net help high risk merchants Apply for an Account. Failing to Understand Rates and Fees. March 16, 2023. All of these businesses need a high risk merchant account for WooCommerce and other major online sales platforms. These services are fine for low risk industries. This means that. According to IBISWorld, the online dating industry has been growing at a rate of 3. An eCheck or electronic check is an electronic version of a paper check. 4. Merchant services are also known as credit card processing. Because of their associations with cannabis, many payment processors place terpene merchant accounts in the high risk category. But PayKings specializes in working with high risk merchants and we have multiple acquiring banking partners that offer background check merchant accounts. Your business will be set up for long-term success by accepting debit and credit cards. As online and mobile payments grow in popularity, merchant accountHigh Risk Merchant Account. PayKings (Merchant Payments Acceptance Corp LLC) is your powerful partner in global transaction Low, Medium, and High Risk Merchant Accounts processing solutions. In the dynamic world of online transactions, where speed and convenience reign, the occasional hiccup can disrupt the flow. Understanding WooCommerce Payment Gateways. Your license includes support and product updates for 12 months, which automatically extends to another 12 months on. Much like CBD and THC, terpene oils fall into a highly regulated industry. For any business looking to scale operations and sales, equipment financing is a great way to increase revenue. B2B payment processing exists to enable companies to make online transactions fast and accessible. Mail Order & Telephone Order. For one, each state has different laws and regulations surrounding the sale and distribution of cannabis products. PayKings can meet that demand head on by providing these businesses with resources that are necessary in the VPN space like: A VPN Merchant Account A Payment Gateway Fraud Prevention Tools Assistance. A rolling reserve is a strategy used by banks to shield themselves and the merchant from possible financial loss due to chargebacks from the customer. Luckily, we have the means and. 4. Mobile Credit Card Reader. In this manner, you can acquire dependable and. An MCC code is a four-digit universal number used to categorize businesses in specific industries. August 8, 2023. High risk merchants are actually dropped from their payment. 4. Recurring Billing. 8. Financial instability, or main source of earnings coming from a different company. com after your account was activated. Often times you could receive it much sooner. They can also transfer funds between the merchant account and the customer accounts. High Risk Payment Gateway. There are many reasons a shopper might initiate a chargeback, and understanding these can help you to fight them and even avoid chargebacks all together. For a standard merchant account, the average pricing is around 2. Unfortunately, the coins. PayKings has been active within its niche since 2011, forming partnerships with many of the bigger platforms in the eCommerce. 20+ Proven Bank Relationships. CodeClouds is more than 300 strong, and specializes in Web Development, eCommerce, CRM integration, campaign and funnel management, page building, tracking pixel setup, mobile apps, server setup, design services, and so much more. You send the client an invoice via mail or email. How Can Payment Processing Impact CBD Merchants? January 3, 2023. May 18, 2023. Account Updater – With Account Updater, you’ll minimize lost sales and declines when your customers’ credit card information changes or expires. Features of Merchant Services – Customer Service. Bad credit or low credit score. PayKings has multiple options for you and makes it simple to obtain an e-cig merchant account in as little as 48 hours. Opening. Some merchant processors have used it in the past as a way to surreptitiously add extra fees to merchant statements. Medium/High Risk Accounts. Reality. iSpy Fraud Tool: iSpyFraud is a rules-based fraud prevention tool that merchants can use to screen suspicious transaction activity, helping merchants to. We work with merchants who need to acquire a recurring billing merchant account. Suddenly you’ll find a message that Square has stopped your ability to process payments online because your company requires a high risk merchant account. PayKings also offers ACH processing, which is a faster and more efficient way to process payments. Chargebacks. Don’t confuse a high risk payment gateway with a. In fact, we can get you pre. Included in Wix’s features are several plugins. Network Merchants, Inc. It’s a shocking statistic that proves how popular payment processors are getting around the world. With millennials overloading the workforce. These services are fine for low risk industries. Petersburg, FL 33701 / (888) 255-9782 / email: info@paykings. A portion of the funds are collected via credit card and secured by the bank from the merchant’s account to minimize the risk of potential chargebacks. You have zero to low chargeback ratio. As a result, new kinds of CBD and ways to enjoy it have changed. Looking for an (industry) Merchant Account? Look no further than PayKings; leading experts in getting your (industry) business ready to accept paymentsPaykings. With millennials overloading the workforce. Developers. We’ve done all the work to provide you with this Payment Processing 101 Guide - filled with helpful tips, tricks, and insights for getting your eCommerce business on the road to processing payments. If you are in need of debit processing for your high risk business, call (727) 300-0277 today. How Vindicia Works They provide two main recurring billing services. CARDZ3N processes payments for emerging markets & high-risk businesses, including CBD, crypto exchanges, gambling, travel, and more. Processors like PayPal, Stripe, and Square are big names in the processing industry that offer traditional services. This has resulted in many more businesses needing a vape merchant account. Unfortunately, vape-related products are one of several items banned by Shopify. 25 for e-commerce. If a merchant’s chargeback1. High risk merchant account fees are. 15 per transaction. Here are 5 significant things to know when applying for the best high risk payment gateway for your eCommerce business: 1. First, if you are selling goods or services deemed as a high risk without using high risk merchant accounts or payment processors, Shopify has the authority to drop or freeze your account. These services take care of electronic payments for businesses. At PayKings we provide custom accounts for your business. Individuals who apply for payment processing through a bank who happen to have a credit score of 580 or less are considered bad credit merchant accounts. PayKings provides high risk merchant account payment processing solutions for small to enterprise level businesses. PayKings recurring billing gives you the flexibility to customize the intervals when your customers are charged. Whether you are a well-established enterprise, school, influencer, non-profit, artist, or any other business, your. As a result, PayKings offers sustainable telemed merchant accounts for health companies making the move… Read More. The acquirer allows merchants to accept credit card payments by working with the credit card companies and acting as a mediator for all transactions. 2. We make business less risky. In regards to CBD payment processing, consider EMS as your steadfast partner. Both industries require high risk merchant accounts. Continuity subscription merchants are realizing the importance of ongoing revenue to grow their business. Unfortunately, the coins. Online auctions are responsible for making ecommerce what it is today. Our gateway services give you access to information regarding your merchant account including individual transactions and batch totals with comprehensive reporting tools. Our team’s priority is assisting our clients in. In turn, they allow certain types of CBD-related businesses to sell merchandise and assorted products through their platform. Get Started Apply Now Best High Risk Processor Merchant Account of 2023 Merchants High Risk Low/Medium Risk Retail B2B Payments High Risk Processing Industries. Some customers are more comfortable paying with echecks; they should have the freedom to pay the easiest way possible. PayKings offers your eCommerce or brick and mortar business same-day ACH also know was electronic check payments. This includes a card reader, printer, the pos software and a monitor. Indeed, the number of merchant services companies has been on the rise over the years. July 11, 2023. Head shops, better known as “smoke shops” are considered high risk merchants.