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Getting shut down by Stripe can halt your business overnight. Your account is frozen, funds are held for 90 days, and you're left scrambling to find a processor that actually accepts your industry.
Stripe wasn't built for high-risk merchants. They operate on a shared merchant account model where one risky business threatens their entire network. Their automated systems flag accounts for three main reasons: operating in restricted industries (like CBD, gaming, nutraceuticals, and telemedicine), chargeback rates exceeding 1%, or sudden volume spikes during growth periods. When flagged, Stripe shuts you down first and rarely explains later.
The good news? Better alternatives exist that are specifically designed for high-risk businesses. This comparison examines the five best Stripe alternatives for high-risk merchants after evaluating over 30 payment processors that accept them.
The list below ranks them based on approval speed, chargeback protection, fees, and integration capabilities to help you make an informed decision.
Top 5 Stripe High-Risk Alternatives for Merchants
*Custom rates based on determined risk
SeamlessChex: Purpose-Built for High-Risk Ecommerce
When Stripe shuts you down for CBD sales, rapid growth, or operating in gaming, SeamlessChex is ready with an instant approval solution backed by over 25 banking partners.
What Makes SeamlessChex Different:
Transaction Routing Across Multiple Banks: Unlike Stripe's single-point-of-failure model, SeamlessChex routes transactions across more than 25 acquiring banks. This means if one bank flags your industry, your payments will continue to process through alternative partners. During high-volume seasons, this infrastructure prevents the bottlenecks that plague single-bank processors.
White-Glove Onboarding and Support: Stripe leaves you to figure things out alone. SeamlessChex assigns dedicated payment experts who walk you through approval, integration, and compliance requirements. They hold your hand from application to first transaction, and beyond.
Chargeback Management Built In: SeamlessChex doesn't just process payments—they help you respond to chargebacks effectively with tools that make dispute management straightforward. For high-risk merchants, this is the difference between sustainable growth and account termination.
Best for: All-round high-risk leader
Processing fees: Variable and based on each deal, typically 2.7%->3.9% + transaction fees
Approval time: Instant approval available
PaymentCloud: Established High-Risk Specialist
PaymentCloud boasts a 98% approval rate and specializes in truly difficult placements. Businesses on the MATCH list, including adult entertainment and other typically declined verticals, are their bread and butter. Their strength lies in their relationships with acquiring banks that are willing to take on risk that other processors won't touch, especially for smaller accounts. They do get dinged for having longer approval times, though.
Best for: Businesses with complicated histories, smaller MATCH-listed merchants
Processing fees: 2.7%-4.3% depending on risk assessment
Approval time: 2-14 days, depending on complexity
Zen Payments: Fast Approvals with Strong Fraud Tools
Zen Payments offers instant approval options for many high-risk merchants, with built-in fraud prevention including AVS verification, CVV checks, and velocity monitoring. Their platform balances speed and security, making them suitable for merchants who need to start processing transactions quickly. They aren’t as great for industries with high chargeback rates, as their features in that regard aren’t as comprehensive.
Best for: High-risk industries with lower chargeback risk
Processing fees: 2.9%-3.8% + monthly fees
Approval time: 24-48 hours for most accounts
PayKings: Industry-Leading Acceptance Rate
With a 99% approval rate and 24-hour approvals, PayKings excels at saying "yes" when other processors say "no." They're particularly strong with tobacco, CBD, and debt collection, which are all industries Stripe explicitly prohibits. While they accept more than every option on the list outside of SeamessChex, they do also have higher fees and longer approval times. This makes them a good option for high-risk merchants who have been rejected by other high-risk specialists with lower fees.
Best for: High-risk firms that have been rejected by other specialist processors
Processing fees: 3.0%-4.5% + setup fees
Approval time: 24-72 hours
Soar Payments: Hard-to-Place Merchant Specialist
Soar Payments focuses on offshore accounts and businesses that other processors categorize as "hard to place." They offer instant quotes and full merchant accounts with major shopping cart integrations, making them great for international ecommerce.
Best for: Offshore merchants, international high-risk businesses
Processing fees: Rates customized per merchant
Approval time: Instant quote, varies by complexity
Critical Questions Answered
We understand that merchants who have just lost access to simpler traditional payment processing may need more information than just the next business day to work with. Below are some comprehensive answers to common questions we get from clients who are entering the high-risk processing market for the first time:
Can I Use Multiple Processors?
Absolutely, and it is actually optimal in a lot of cases. Smart high-risk merchants run backup processors to ensure business continuity and minimize risk. Use Stripe (if you still can) for lower-risk products while routing high-risk SKUs through SeamlessChex or another specialized processor. This redundancy protects against sudden shutdowns.
How Do I Migrate From Stripe?
Migration takes 3-7 days for most merchants:
- Apply to your new processor (SeamlessChex offers instant approval)
- Gather required documents: business license, bank statements (3-6 months), processing history, tax ID
- Integrate a payment gateway via plugin or API
- Test transactions in a sandbox environment
- Go live while maintaining Stripe as backup during transition
- Export customer data (if permissible under your agreement)
What Documents Do I Need?
Standard requirements across high-risk processors include:
- Business license and incorporation documents
- Bank statements (last 3-6 months)
- Processing statements showing volume and chargeback ratios
- Government-issued ID for business owners
- Tax identification number (EIN)
- Website/product descriptions for compliance review
Making the Switch: What Matters Most
When choosing Stripe high-risk alternatives, prioritize these factors:
Industry Acceptance: Verify the processor explicitly accepts your vertical. Generic "we work with high-risk" claims aren't enough. Look for specific industry experience.
Banking Relationships: Processors with multiple banking partners (like SeamlessChex's 25+ banks) offer more stability than single-bank processors.
Approval Speed: If Stripe just shut you down, you need payment processing yesterday. Instant or 24-hour approval can save your business.
Chargeback Support: High-risk merchants face higher dispute rates. Choose processors offering active chargeback management, not just processing.
The Bottom Line
Traditional payment platforms are convenient until they aren’t. When your account gets flagged, frozen, or terminated, you need Stripe high-risk alternatives built for your reality, not those that treat high-risk merchants as problems to be avoided.
SeamlessChex offers instant approvals, 25+ banking partners for transaction routing, and white-glove support specifically designed for gaming, CBD, nutraceuticals, telemedicine, and other high-risk verticals. Whether Stripe shut you down yesterday or you're securing backup options before disaster strikes, having a specialized high-risk processor protects your business from payment disruption.
Get a Stripe high-risk alternative that understands your needs. Contact us and get approved today.
