Corepay specializes in high-risk payment processing, ensuring your Shopify store runs smoothly, regardless of industry classification.
Chargeback Protection
Minimize risks with Corepay’s anti-chargeback tools like CB-ALERT, designed to protect your revenue and maintain account stability.
Transparent Pricing
Enjoy competitive rates with no hidden fees, ensuring your eCommerce business maximizes profitability.
High-Risk Solutions for eCommerce Businesses
Shopify is home to over 2.5 million active businesses in 2024. With every well-established online company comes the need for reliable payment processing. However, Shopify does not offer processing for high-risk merchants, meaning you’ll need a high-risk Shopify merchant account alternative.
If you are an eCommerce business owner looking to start your Shopify store, you’ve come to the right place. This guide explains high-risk merchant accounts, Shopify’s limitations, and how Corepay can provide a seamless payment solution.
Get Approved for a High-Risk Shopify Merchant Account
Don’t let payment processing hold you back. Apply today and unlock seamless integration, expert support, and reliable payment solutions for your Shopify store.
Several factors can cause a credit card processor to classify your Shopify business as high-risk. For instance, most Shopify transactions are card-not-present (CNP), which inherently carries a higher risk of chargebacks.
Main Reasons Shopify Stores Are Deemed High-Risk
Chargebacks: Frequent chargebacks can increase fees and lead to account freezes or terminations.
Poor Financial History: Both personal and business financial histories are considered.
Risky Industry: Certain industries like adult, CBD, vape, firearms, or online dating are considered high-risk by banks and processors.
How to Reduce Chargebacks
Clearly state your refund policy on your website.
Collect customer details like order numbers and addresses.
Offer 24/7 customer service to resolve disputes before they escalate.
Use anti-chargeback tools to minimize chargebacks.
How to Add a Payment Gateway for Shopify
Setting up payment processing on Shopify is simple:
Go to Settings.
Click on Payments.
Add a processing solution.
For businesses using Corepay, we ensure seamless integration with your Shopify store and handle the configuration for you.
Applying for a Shopify High-Risk Merchant Account
High-risk businesses cannot rely on Shopify Payments or similar low-risk processors. If your account has been frozen or terminated, finding a reliable high-risk processor is crucial.
Required Documents for Application
Voided check or proof of bank account
Certificate of incorporation
Financial history (personal and business)
Licensing numbers
Compliant website
Providing thorough documentation helps ensure a quick and smooth approval process.
Take Your Shopify Store to the Next Level
Corepay’s tailored high-risk payment solutions will help your Shopify store thrive. Apply now and experience the difference.
Konnektive is a CRM that integrates seamlessly with Solidgate, Corepay’s payment gateway, offering a robust solution for high-risk merchants.
Sticky.io
Sticky.io is another excellent alternative, supporting various high-risk industries and leading payment gateways, including Solidgate.
What to Do if Shopify Shuts Down Your Store
If your Shopify store is terminated or your funds are withheld, act quickly to find a reliable payment processor. Check Shopify’s terms of service to ensure your products comply before processing payments through their platform.
How to Choose the Best Shopify Payment Processing Solution
When selecting a payment processor, determine if your business is high-risk. If it is, compare high-risk processors based on:
Processing rates
Anti-chargeback solutions
Payment gateway options
Industry expertise
Why Choose Corepay for Your Shopify Payment Processing?
At Corepay, we specialize in high-risk credit card processing and offer tailored solutions for Shopify merchants. Our services include:
Swift approvals within 24-72 hours
Integration of anti-chargeback tools with CB-ALERT
No application, setup, or annual fees
100% transparency with no hidden fees
Expertise in Shopify and high-risk industries
Does Shopify Support CBD Merchants?
Shopify supports CBD merchants on its platform but processes payments through Stripe, which does not allow CBD sales. A third-party high-risk processor is required for Shopify CBD stores.
Overview of Shopify
Shopify powers over 2 million online stores and holds over 11% of the eCommerce market share. Retail, fashion, and computer software are its leading industries, generally considered low-risk by processors.
Top Shopify Stores
Cettire – Luxury fashion
Fashion Nova – Women’s fashion
Gymshark US – Gym apparel
Colourpop – Cosmetics
Alo Yoga – Yoga apparel
Prohibited Goods and Services on Shopify
E-Cigarettes
Marijuana-related goods
Pornography
Adult toys
Guns and ammunition
Gambling
Fireworks
Shopify Payments
Shopify partners with Stripe for its payment processing, catering to low-risk merchants. High-risk merchants must seek third-party processors like Corepay for reliable solutions.
Wrapping Up
Reliable payment processing is crucial for a successful Shopify store. If you’re considered high-risk, Corepay offers transparent, bespoke solutions tailored to your business’s needs.
Fill out an application today to see how Corepay can help your Shopify business thrive!
Powerful payment solutions that integrate with your existing platforms
Seamless Integrations
Corepay supports seamless integrations with top platforms like Shopify, Wix, WooCommerce, Salesforce, and more. From e-commerce to CRM tools, our payment solutions connect effortlessly to keep your business running smoothly. Discover how easy it is to integrate and optimize your payment processing.
