Shopify Payment Processing vs. High-Risk Payment Processors for Shopify: Why High-Risk Match is Your Best Option

Shopify Payment Processing offers a built-in, easy-to-use solution for businesses using the Shopify platform. It provides seamless integration and a quick start for most merchants. However, for businesses considered "high-risk," Shopify Payments often creates more problems than solutions. This is where High-Risk Match steps in, offering tailored solutions to ensure continuous and secure payment processing without interruptions.

Pros of Shopify Payments

Seamless Integration: Shopify Payments is directly embedded into Shopify, eliminating the need for third-party gateways, and making it easy to set up and start processing payments.
Cost-Effective for Non-High-Risk Businesses: Shopify Payments offers competitive rates (2.9% + $0.30 per transaction) for businesses that qualify, and avoids third-party fees.
Omnichannel Selling: Shopify Payments allows merchants to sell on multiple platforms (like Instagram, Facebook, and Google) to expand their reach.
Shop Pay Feature: This built-in feature speeds up the checkout process for returning customers, reducing cart abandonment and increasing conversions.
PCI Compliance and Security: Shopify Payments ensures that merchants are PCI-DSS compliant and includes 3D Secure for extra fraud protection.

Cons of Shopify Payments

Incompatible with High-Risk Industries: Shopify Payments is unavailable to businesses in high-risk sectors, such as CBD, firearms, adult content, or nutraceuticals. These merchants may experience account terminations or funding holds.
High Chargeback Fees: Shopify Payments imposes high chargeback fees, which can heavily affect businesses in industries that experience frequent disputes.
Risk of Sudden Freezes and Holds: Shopify Payments has a history of freezing accounts and holding funds, particularly for businesses in high-risk sectors or those that experience spikes in transaction volume.
Additional Fees for Third-Party Payment Gateways: If merchants use a third-party processor instead of Shopify Payments, Shopify imposes additional fees of 0.5% to 2% per transaction.

Case Study: Why High-Risk Match Was the Best Solution for a Shopify CBD Merchant

Example: A CBD Store’s Struggle with Shopify Payments
A Shopify merchant Dropshipping products initially used Shopify Payments due to its integration and ease of use. However, after experiencing a sudden spike in sales and multiple chargebacks, Shopify Payments froze the merchant’s account, halting cash flow. Faced with an inability to access funds for weeks, the merchant switched to High-Risk Match, which offered:

Proactive fraud and chargeback management to reduce disputes
Specialized account support tailored for high-risk industries in dropshipping
Consistent cash flow with no risk of account freezes

Within weeks, the store was able to resume full operations, and the merchant reported a 37% reduction in chargebacks due to High-Risk Match’s advanced tools.

Why High-Risk Match is the Superior Choice for High-Risk Shopify Merchants

Tailored Solutions for High-Risk Industries: Unlike Shopify Payments, which excludes high-risk businesses, High-Risk Match is designed specifically for industries like CBD, firearms, adult entertainment, and nutraceuticals. These industries face challenges such as high chargeback rates and strict regulatory scrutiny, which High-Risk Match is equipped to handle without account disruptions.

Advanced Chargeback Mitigation and Fraud Prevention: High-Risk Match offers comprehensive chargeback management tools, including real-time alerts and fraud prevention measures, which Shopify Payments lacks. These tools help high-risk businesses stay on top of disputes, reducing the risk of revenue loss.

No Account Freezes or Sudden Holds: Shopify Payments is notorious for freezing accounts without warning. In contrast, High-Risk Match ensures that your cash flow remains uninterrupted, even when operating in volatile or high-risk industries. This makes it the safer choice for businesses that cannot afford disruptions.

Dedicated Account Management and Compliance: High-Risk Match provides dedicated account managers who understand the unique challenges of high-risk businesses. These managers help ensure compliance with industry regulations, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols. This level of support and regulatory insight is something Shopify Payments does not offer.

Transparent and Competitive Pricing: Unlike Shopify Payments, which can add fees for using third-party processors, High-Risk Match provides transparent pricing designed for high-risk businesses. You’ll know exactly what you’re paying for, without hidden fees or surprise charges.

Regulatory Compliance: Essential for High-Risk Businesses

For high-risk industries, staying compliant with regulatory requirements is critical to avoiding fines and maintaining operations. High-Risk Match is built to support compliance with key regulations such as PCI-DSS, KYC, and AML, which ensures that your business remains compliant with industry standards.

Shopify Payments, on the other hand, may not provide the same level of compliance support, making it less reliable for businesses that require strict adherence to industry regulations.

Social Proof and Trust Badges

High-Risk Match offers the kind of security certifications and trust badges that build credibility for high-risk merchants. With industry certifications such as PCI-DSS compliance, BBB accreditation, and proven experience in handling high-risk transactions, High-Risk Match gives businesses the peace of mind that their payment processing is in good hands.
Shopify Payments, as a general payment solution, lacks this specific focus, which can be a risk for high-risk industries.

Industry Trends: Why High-Risk Businesses Need Specialized Payment Processors

With increasing regulatory scrutiny and more stringent fraud detection measures across industries like CBD and nutraceuticals, high-risk businesses require specialized solutions that can handle their unique needs. Shopify Payments, designed for low-risk businesses, may struggle to keep up with these demands. In contrast, High-Risk Match stays ahead of the curve by offering tailored fraud prevention tools, enhanced compliance support, and chargeback management solutions.

Why You Should Switch to High-Risk Match

For high-risk businesses, Shopify Payments introduces significant challenges, including account freezes, high chargeback fees, and limited support for compliance. With High-Risk Match, you’ll gain access to specialized solutions that are built to support your industry, ensuring continuous payment processing, compliance, and superior chargeback management.

FAQ

Q: How quickly can I switch from Shopify Payments to High-Risk Match?

A: Switching is easy. Once you apply and are approved, you can integrate High-Risk Match into your Shopify store within 24 to 48 hours. Our team will assist you through the entire process.

Q: Does High-Risk Match integrate seamlessly with Shopify?

A: Yes, High-Risk Match integrates effortlessly with Shopify. You can manage transactions through your Shopify dashboard while benefiting from the robust support of a high-risk-focused payment processor.

Q: What high-risk industries does High-Risk Match support?

A: High-Risk Match specializes in industries like CBD, firearms, adult entertainment, nutraceuticals, and online coaching. We tailor our services to meet the needs of high-risk sectors that struggle with mainstream payment processors.

Q: Can High-Risk Match reduce chargebacks on my Shopify store?

A: Absolutely. High-Risk Match offers real-time chargeback alerts and advanced fraud detection tools to help minimize disputes, which are common in high-risk industries.

Q: How does High-Risk Match ensure compliance with industry regulations?

A: High-Risk Match adheres to PCI-DSS standards and supports regulatory compliance protocols like Know Your Customer (KYC) and Anti-Money Laundering (AML). This ensures your business stays compliant with industry regulations and avoids fines or operational disruptions.

Don’t let Shopify Payments hold back your high-risk business. Make the switch to High-Risk Match today and experience payment processing that’s built for your unique needs. Contact us at 1-877-242-2009 or email info@highriskmatch.com for a consultation.

Disclaimer:

The information provided here is intended solely for informational purposes and is not meant to harm, defame, or discredit any of the brands mentioned, such as Shopify Stripe or PayPal. These companies are respected global brands, chosen by many businesses for their payment processing solutions. We aim to provide a comparison based on features and considerations relevant to high-risk businesses.

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At HRM, we understand that trust is the cornerstone of any successful partnership. That’s why we prioritize transparency, reliability, and security in every aspect of our high-risk merchant services.

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