High-risk Merchant Acceptance For High-risk Verticals
Since 2000, Maverick has worked with tens of thousands of merchants, which has provided us with the proper experience and knowledge to truly support high-risk merchants. As a full-service provider, we perform all operations in-house, including underwriting and risk management, which are some of the most crucial operational roles when it comes to higher risk merchants and payment processing. Whether you are an ISO, agent, referral partner, ISV, ISA, or somewhere in between, your high-risk merchant clients are in good hands with Maverick. Our partner and merchant program is built around white-glove support and service supplemented by our industry-leading technology, seasoned team of payment experts, wholesale full-service platform, and strategic approach to support high-risk verticals.
Our business is built to meet the specific requirements of the high risk industry, which enables our partners to extend this opportunity allowing for high-risk merchant acceptance. We’ve worked with thousands of companies and have experienced all the obstacles associated with operating high-risk businesses. We’ve used that experience to create a unique credit card processing and payments platform that is built specifically with the high risk merchant in mind. Our partners are given the ability to work with a vast array of higher risk business types, which most banks and processors stay away from.
What technology is offered to these high risk merchants?
Our dashboard is our driving tech-platform for both partners and merchants. Providing partners with the vital reporting, data, analytics, and merchant management, including frictionless on-boarding, our dashboard is valuable for partner success. The merchant-facing dashboard has intelligent reporting, feature-rich fraud tools and chargeback management, and more.
What high-risk businesses do you accept?
Our underwriting guidelines are not cookie cutter as our approach to high-risk is much more merchant-specific as each case is unique in its own way. A business can be deemed high risk for a number of reasons and we take the time to understand the business, mitigate risk, and to support it. Some high risk verticals we actively work with include travel businesses, electronic cigarette (e-cig) and vape merchants including tobacco and paraphernalia products, nutraceuticals and health supplements, subscription and continuity billing models, reputable collection agencies, established adult-related businesses (novelty products, etc.), state-licensed non-bank lenders, licensed firearm businesses, and more.
What are the typical high risk merchant requirements?
As each merchant in the high risk category can be higher risk for different reasons, the requirements can fluctuate.
- The core documents typically remain the same, which include a signed merchant agreement, void check for the depository bank account, driver’s license for each principal signing.
- Additional documents can include:
- validation of inventory (proof or pictures of on-site inventory or copy of fulfillment agreement)
- previous processing statements to evaluate chargebacks, returns, volume, and other historical data
- bank statements to review the merchant’s liquidity, review activity, and other banking-related information
- financials, such as a balance sheet and profit & loss to understand the business’s financial position, and tax returns for the business and/or principals
What is unique about your high-risk merchant solutions?
We pride ourselves on being unique due to being a full-service provider, having a tremendous amount experience, utilizing our proprietary technology, and taking a white-glove approach, which benefits merchants and partners as we are very hands-on. As a full-service (wholesale ISO) processor, we are able to benefit from performing all operational tasks internally, which allows us to assess merchants in-house along with help manage and monitor due to our underwriting and risk team. This means quick turnaround, quick answers, quick responses, and quick everything – deal direct with the processor who is assuming the financial risk and able to not only make key decisions, but also provide key insight.