T1 Payments accept all types of businesses and specialize in those labeled high-risk. But you may wonder if there is a minimum standard you have to satisfy to open a high-risk merchant account with anyone. Generally speaking, yes, and for the most part, it’s what you might expect when you apply for a financial service. Some of the pieces of information to prepare include an incorporation certificate, an organizational structure chart detailing shareholders (if applicable), a business license number (if applicable) and if you own an online business, something that demonstrates its fully compliant, featuring inclusions like “terms and conditions,” transparent contact information and dispute resolution specifics. You may also be required to print out or prepare financial statements that lay out your processing history for the last 6 to 12 months. Processing history should provide clarity on things like: Total monthly sales volume Number of monthly transactions Number of monthly chargebacks Percentage of monthly chargebacks (chargeback ratio) Indication of offering recurring billing High-risk payment processors’ minimum requirements for each can vary, but typically, applicants labeled high-risk have monthly sales volume ranging above $10,000, with the average credit transaction in the neighborhood of $100 or more. High-risk payment processors often see high chargebacks, but to gain approval, some require that the chargeback ratio be no greater than 1%. Anyway, you get the point; there is a lot to it and high-risk payment processors do it all for due diligence.