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Unfortunately, there are also plenty of merchant services providers that deliberately market to high-risk businesses that are struggling to get approved for a merchant account, only to rip them off with outrageously high fees and rates, as well as draconian contract terms.
In this article, we’ll discuss the factors that lead to a business being labeled high-risk and how this determination will affect your ability to get a merchant account.
We’ll also provide some recommendations for high-quality providers that specialize in servicing the high-risk sector.
Finally, we’ll give you some tips for avoiding the not-so-high-quality providers that prey on high-risk merchants.
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