Structure Payments adds 17 high-risk merchant categories

Structure Payments says it now underwrites 17 high-risk industries, including firearms, CBD and nutraceuticals, giving rejected merchants dedicated accounts instead of pooled aggregator accounts. The Provo, Utah processor says most approvals happen in about 48 hours.

Why it matters: - Mainstream banks often decline entire business categories, which can leave otherwise compliant merchants unable to accept card payments. - Structure Payments is positioning itself as an alternative for those businesses by underwriting those categories directly and issuing dedicated merchant accounts. - The company says the change expands access for merchants that have few payment-processing options.

What happened: - Structure Payments announced it now underwrites 17 high-risk industries. - The company is based in Provo, Utah. - Structure Payments says most merchants are approved in about 48 hours. - The company specializes in high-risk credit card processing and merchant account services.

The details: - The 17 industries are firearms and ammunition, vape and nicotine, tobacco and cigars, CBD and hemp, nutraceuticals and supplements, MLM and direct sales, coaching, credit repair, debt collection, adult and dating, online gaming, precious metals, digital goods, travel, subscriptions, tech and SaaS, and contracting. - Structure Payments says each approved merchant gets a dedicated merchant ID. - The company also offers transparent pricing and chargeback-prevention tools. - Structure Payments says its underwriting is built on more than a decade of direct relationships with banks, card networks and gateways. - Those relationships include Visa, Mastercard and Authorize.net. - The company was founded in 2023. - Structure Payments is located at 3601 N University Ave #100, Provo, UT 84604. - Patrick Felsted is founder and CEO. - Truman Child is president. - The company says Felsted has worked in credit card processing since 1999 and has experience with PCI DSS implementations and the Authorize.net gateway. - Structure Payments says Felsted and Child have supported thousands of merchants.

Between the lines: - The expansion suggests Structure Payments is aiming deeper into categories that are regularly excluded by traditional financial institutions. - Dedicated merchant accounts matter because pooled aggregator accounts can be frozen without warning, which can interrupt revenue for small businesses. - The 48-hour approval promise is a key competitive message for merchants that need fast onboarding after a prior decline. - The company's pitch blends access, speed and account stability, which are the main pain points in high-risk processing.

What's next: - High-risk merchants can apply or request a consultation at Structure Payments' website. - Merchants can also call (877) 781-1785. - Structure Payments also lists a LinkedIn page and Crunchbase profile for additional company information.

The bottom line: - Structure Payments is widening its reach in high-risk payment processing by underwriting more industries and promising faster approvals for merchants banks turn away.