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When Stripe or PayPal shuts down your merchant account or rejects your application, finding a reliable payment processor quickly becomes critical. Between November 2024 and October 2025, our research team analyzed 47 payment processing companies to identify the best alternatives for merchants who've been rejected by mainstream processors. We evaluated providers based on the following weighted factors:
- High-Risk Industry Support (25%): The ability to approve CBD, gaming, nutraceuticals, and other challenging industries is the most important factor when picking an alternative for high-risk firms
- Approval Speed (20%): Too much time from application to processing capability can lead to lost revenue, so faster onboarding improves a company’s ranking
- Pricing Transparency (20%): Clear fee structures without hidden costs
- Payment Method Variety (15%): ACH, eCheck, credit cards, and alternative options like crypto widen the net of merchants and each offer unique benefits to mitigate different merchant risk factors
- Dedicated Account Managers (15%): Dedicated account managers improve response times and quality of support, especially for high-risk merchants
- Specialty (5%): A processor’s primary market focus can make it clearer how good a fit they are to any given industry or company
This weighted algorithm helped us rank-order the best alternatives to Stripe and PayPal, as shown below. The table displays the top performers, with sections that break down details and summaries of each company’s reviews underneath.
Top Alternatives to Stripe and PayPal
*SeamlessChex’s pricing is fully custom and determined on a case-by-case basis
SeamlessChex
SeamlessChex specializes in getting most high-risk merchants approved and processed within 24-48 hours, even if they've been rejected elsewhere. They excel in high-risk industries, including telemedicine, gaming, insurance, and CBD, sectors where Stripe and PayPal routinely decline applications. Their white-glove service model assigns dedicated account managers who guide merchants through compliance requirements and provide ongoing chargeback management support. They also have a large network of banks, allowing them to serve just about any legal business.
The platform offers three distinct payment solutions: credit card processing, eCheck, and ACH with Plaid verification. This variety enables businesses to select lower-cost ACH options for high-value B2B transactions while maintaining the capability to process credit cards for consumer sales. They also offer alternative payment options, such as cryptocurrency, for merchant accounts that require it.
- Industries Supported: Most legal businesses with limited exceptions
- Payment Methods: ACH, eCheck, Credit Card
- Pricing Range: 2.9%-3.5% + $0.10-$0.30* per transaction
- Dedicated Account Managers: Yes
- Specialty: Supreme high-risk functionality and service
*SeamlessChex’s pricing is fully custom and determined on a case-by-case basis
PayKings
PayKings has built its reputation over 15+ years serving high-risk industries with an 86% approval rate, which isn’t ideal for high-risk specialists, but they make up for it with some valuable features. They maintain relationships with multiple acquiring banks, allowing them to match merchants with the best long-term processor for their specific industry. Their platform includes some basic high-risk features, like built-in fraud detection and automated chargeback alerts.
Rolling reserve requirements for PayKings merchants range from 5% to 20%, depending on the industry risk, with funds typically held for 180 days. While this is standard for high-risk processing, PayKings offers transparent communication about reserve terms upfront during the application process.
- Industries Supported: 50+ high-risk industries (CBD, adult entertainment, firearms, travel, subscription services, nutraceuticals)
- Payment Methods: Credit Card, ACH
- Pricing Range: 2.9%-6.5% + $0.10-$0.50 per transaction
- Dedicated Account Managers: Yes
- Specialty: High-risk processing with deep compliance expertise
Zen Payments
Zen Payments claims a 98% approval rate and specializes in same-day funding for merchants who need immediate access to revenue. They support businesses with credit scores as low as 500 and maintain partnerships with over 15 banks to find optimal placement for each merchant account.
Their platform integrates with major eCommerce platforms, including Shopify, WooCommerce, and BigCommerce. Customer support is available 24/7, and most technical issues are resolved within hours rather than days. This makes them a decent choice for eCommerce retailers who don’t require many advanced features beyond easy integration.
- Industries Supported: All legal businesses (specializing in high-risk and merchants with poor credit)
- Payment Methods: Credit Card, ACH, eCheck
- Pricing Range: 2.95%-5.0% per transaction
- Dedicated Account Managers: Yes
- Specialty: Same-day funding with high approval rates
Authorize.net functions primarily as a payment gateway rather than a full merchant services provider. You'll need a separate merchant account from a bank or payment processor, which adds complexity but also flexibility. They support most standard industries but don't specialize in high-risk approval.
Monthly fees start at $25 plus per-transaction costs, making them more expensive than all-in-one solutions for smaller businesses. Their API documentation is robust, appealing to developers building custom payment flows.
- Industries Supported: Most legal businesses (excluding high-risk categories)
- Payment Methods: Credit Card, eCheck
- Pricing Range: 2.9% + $0.30 per transaction + $25/month gateway fee
- Dedicated Account Managers: Limited (premium plans only)
- Specialty: Gateway services with robust API for custom integrations
Adyen
Adyen serves enterprise-level businesses that process millions of dollars in monthly volume across multiple countries. Their platform supports over 250 payment methods and handles complex, multi-currency transactions. However, they typically do not work with small businesses or those processing less than $50,000 monthly.
Pricing is customized based on volume and needs, but their markup over interchange typically starts around 0.46% + $0.10 per transaction for qualified merchants.
- Industries Supported: Enterprise-level only (minimum volume requirements apply)
- Payment Methods: Credit Card, 250+ global payment methods, including local options
- Pricing Range: Custom pricing (typically 0.46%-1.0% + $0.10+ per transaction)
- Dedicated Account Managers: Yes, they offer enterprise account management teams
- Specialty: Global enterprise payment processing across multiple channels
Square
Square dominates the low-risk retail and restaurant space with straightforward pricing and no monthly fees on its free plan. However, they're extremely strict about business types. High-risk industries, CBD, and many high-volume online businesses face immediate rejection or account termination.
Their hardware ecosystem and point-of-sale software make them ideal for brick-and-mortar businesses with predictable transaction patterns. But merchants report frequent account holds and limited recourse when disputes arise.
- Industries Supported: Only low-risk businesses (retail, restaurants, salons, basic services)
- Payment Methods: Credit Card, Digital Wallets (Apple Pay, Google Pay)
- Pricing Range: 2.6%-2.9% + $0.15-$0.30 per transaction
- Dedicated Account Managers: No, and phone support requires paid plans
- Specialty: Low-risk retail with integrated POS hardware
How to Make the Switch Seamless
Transitioning payment processors without disrupting your business requires careful planning. Start by maintaining your existing processor while setting up and testing your new account. Most providers offer sandbox environments for integration testing before processing live transactions.
Export transaction history and customer payment data from your current processor. High-risk specialists, like SeamlessChex and PayKings, typically assist with data migration as part of their onboarding process. Set up your new payment gateway at least two weeks before shutting down the old account to ensure everything functions properly.
Communicate with customers about any changes to how payments appear on statements. Update your website, invoices, and checkout pages with new payment information. Keep your old processor active for 30-60 days after switching to handle any refunds or chargebacks from previous transactions.
Ready to find the best alternatives to Stripe and PayPal that won't shut you down? Apply now with SeamlessChex for instant approval and same-day onboarding, or explore our other payment solutions designed for high-risk merchants.
