High Risk Merchant Accounts 101: The Essential Guide to Payment Processing in High Risk & Regulated Industries

Payment processing sits at the center of operations for e-commerce and highly regulated businesses.

Yet for many business owners, the payments layer remains one of the least understood—and most dangerous—operational systems they rely on.

Merchants operating in high risk and regulated industries usually don't fail because they're reckless. They fail because they don't understand how banks, processors, and card networks evaluate risk behind the scenes—or how quickly those evaluations can change.

Drawing on the latest card network rules and e-commerce case studies, this book is informed by the authors' years of experience at SoarPay, a leading high risk merchant account provider, and TacticalPay, a leading firearms payment processor. It explains:

• How to manage payment processing in high risk and regulated industries
• How banks, processors, and card networks actually assess merchant risk
• How to avoid credit card processing freezes, holds, and account shutdowns
• How to scale an e-commerce business by using the right processor
• How to build resilient payment systems for stability and long-term growth

This book is more than a warning. It's a playbook.

It offers practical guidance for making informed, strategic payment processing decisions, navigating merchant underwriting, and scaling your business with confidence.

If your business depends on credit card payments, and especially if you operate in a high risk or regulated industry, this book gives you the context and control most merchants don’t know they need.

Adam Carlson is a payments industry executive with more than two decades of experience building and leading businesses in complex, regulated markets. He is the Chief Executive Officer of SoarPay, where he oversees the company's strategy, operations, and long-term vision. Adam has extensive expertise in merchant services and payment systems and a track record of building durable companies, strong teams, and trusted client relationships. He is based in Houston, Texas.

Andy Hagans is an entrepreneur and investor with over a decade of experience in the payments industry. At SoarPay, he contributes to the firm's leadership, marketing strategy, and long-term growth. Outside of payments, Andy is the founder of Mastiff Equity Partners, a private equity real estate firm, and a partner at OpportunityZones.com. He lives in Holland, Michigan, with his wife and five children.