PayKings review: what it is, how it works, and best alternatives for high-risk businesses

PayKings offers high-risk merchant accounts for CBD, vape, firearms, adult, and other restricted businesses. Find out how it works, what it costs, and the best alternatives.

PayKings is a payment processor that works with businesses in industries that providers typically flag as higher risk – like adult, CBD, vape, firearms, and dating services. 

But those aren’t the only high-risk business models PayKings support: they also work with businesses in coaching, consulting, sports betting, tech support, SEO services, web design, and high-volume digital sellers. 

If your business is in these categories, PayKings is one of the processors that may approve you when Stripe, PayPal, or Square declines or holds your account.

Let's take a closer look at what PayKings offers, how its approval process works, what fees to expect, and the common friction points merchants run into when applying for a high-risk account.

What is PayKings?

PayKings is a payment processor that focuses on businesses that banks classify as high risk.

Instead of offering quick, automated sign-ups, they pair each merchant with an acquiring bank that’s open to supporting more complex or sensitive business models. 

But high-risk payment processing operates under a different set of rules: 

• Approvals take longer
• Pricing isn’t published
• Banks often add extra conditions such as rolling reserves, volume caps, or multi-year contracts. 

These requirements are standard practice in high-risk payments, but they still catch many merchants by surprise.

Who can use PayKings?

PayKings works with two main groups of businesses: traditional high-risk industries that most processors block immediately, and online service businesses that get flagged because of chargebacks, fulfillment exposure, or business model risk.

When Stripe, PayPal, or Square won’t approve your merchant account, PayKings is one of the processors that steps in.

Let me break it down:

Regulated or restricted industries

These are the categories mainstream processors decline pretty much as soon as they see the product type:

• Adult entertainment and gentlemen’s clubs
• CBD and hemp products
• Vape and e-cigarette sales
• Firearms and related accessories
• Nutraceuticals and male enhancement products
• Payday lending and debt settlement
• Credit repair and credit monitoring
• Sweepstakes
• Pawn shops and precious metals
• Airlines and ticketing services
• Health and telemedicine services

Digital and service-based businesses

PayKings also supports online models that aren’t inherently restricted, but can struggle to get (or stay) approved on Stripe, PayPal, or Square:

• Coaching 
• Consulting (marketing, business, operations, training)
• Sports betting communities and digital picks
• Tech support and remote troubleshooting services
• SEO agencies and digital marketing services
• Web design and website development
• Document preparation services
• High-volume digital sellers and membership-based communities
• Travel services (digital guides, itineraries, non-agency services)

Derek Wilmer learned firsthand how legitimate online businesses can face scrutiny from platforms like PayPal, having $264,000 of his income frozen without warning.

All due to being flagged as an 'elevated risk'.

That moment showed me how little power small businesses actually have. One processor makes a decision and your entire livelihood is on hold — you don’t get a say, and you don’t get a human to talk to.

- Derek Wilmer, Whop

And the worst part? He never got his money back.

Requirements to get approved with PayKings

Because PayKings places merchants with a partner bank, the approval process is more involved than signing up with Stripe or Whop Payments.

Most merchants will need:

• Government-issued ID
• Signed merchant application
• A voided check or bank letter
• 3 months of bank statements
• 3 months of processing statements (or personal statements if new)
• Product, service, or supplier documentation (varies by industry)

Additional checks are standard for regulated industries like CBD, firearms, gaming, and credit-related services.

Can regular businesses use PayKings?

PayKings can board lower-risk businesses, but its pricing, underwriting, and contract structure are designed for high-risk merchants. 

This means as a standard online business, you’ll likely:

• Pay higher fees
• Face more paperwork
• Wait longer for approval
• Be subject to reserves
• Have stricter account oversight

For most digital sellers, this setup is usually unnecessary.

How does PayKings work?

PayKings works by connecting businesses with acquiring banks willing to support industries that mainstream platforms decline.

Instead of using instant sign-ups, each account goes through a bank-driven approval process with custom terms based on the business model.

Here’s how the setup looks from the merchant’s end:

1. You submit an application

You’ll provide details about your industry, products, billing model, processing history, expected volume, and business documentation.

PayKings uses this information to determine which banking partners are a possible match for your business.

2. PayKings routes the application to an acquiring bank

PayKings does not underwrite your account itself.

After reviewing your application, they send it to a bank that accepts high-risk categories such as adult, CBD, firearms, vape, sports betting, travel services, coaching, consulting, tech support, and other high-risk or high-volume digital businesses.

It’s then up to the bank to review your business, check for compliance risks, examine documents such as identity verification and bank statements, and evaluate the industry’s exposure to chargebacks or regulatory rules.

3. The bank decides on your terms

If the bank agrees to take on your business, it sets the account requirements. These terms vary widely and may include:

• Processing rates
• Monthly fees
• Rolling reserves
• Volume caps or processing limits
• Contract length
• Chargeback thresholds
• Any additional compliance steps

PayKings does not publish these numbers because they differ for every business and are controlled by the bank, not the processor.

4. PayKings sets up your payment system

Once approved, PayKings helps you:

• Connect to a payment gateway
• Set up a virtual terminal
• Enable recurring billing
• Configure ACH or eCheck payments
• Use fraud and chargeback tools
• Integrate with shopping carts or websites

PayKings lists Authorize.net, NMI, and other gateways in its integrations, along with options for 3D Secure and Level 2/3 processing.

5. You begin processing payments under the bank’s given guidelines

Once your account and gateway are active, your business can start accepting payments through the methods approved by the bank.

This may include card payments, ACH/eCheck, recurring billing, or gateway-based online transactions. The acquiring bank monitors account activity to ensure chargebacks, refunds, and processing volume stay within the limits you were approved for. 

Depending on your agreement, the bank may apply rolling reserves, holds, or other risk controls.

How much does PayKings cost?

Like most high-risk processors, PayKings doesn’t publish fixed pricing on its website, because your rates and fees are set by the acquiring bank that approves the account. 

This means two merchants in the same industry can end up with very different terms.

Still, I did some digging. Here’s what PayKings mentions, and what you can expect:

Processing fees

PayKings promotes rates “starting at 2.49%,” but this is a starting point, not a guaranteed rate. Actual pricing depends on:

• Industry type
• Chargeback exposure
• Ticket size
• Processing history
• Business age and documentation
• Bank risk level

Most merchants won’t know their exact fees until a bank reviews their business and makes an offer.

Monthly fees

PayKings does not list exact monthly fees, but most high-risk merchant accounts include:

• A monthly account fee
• A monthly gateway fee (if using NMI or Authorize.net)
• Chargeback management fees (varies by tool)

Again, hard to give guestimates – these fees are set by the issuing bank or gateway partner.

Rolling reserves

Many PayKings merchants are placed under a rolling reserve, which means a percentage of processed funds (commonly 5 to 10%) is held for a set period before being released. It’s common practice for high-risk payments, but it’s not ideal for smaller businesses. 

You guessed it: Your rolling reserve fee depends entirely on the bank underwriting the account.

Other possible fees

Depending on the business and bank, merchants may also see:

• Batch/settlement fees
• Chargeback fees
• Refund fees
• Annual fees
• Gateway setup fees
• Early termination fees (bank-controlled)

PayKings does state that they don’t charge setup and application fees, which is something. 

PayKings features

The PayKings website lists a suite of merchant tools beyond basic card processing.

But, because accounts are set up through partner banks, the exact features a business gets may vary.

Multiple ways to accept payments

PayKings supports several payment methods, depending on what the bank approves:

• Card payments (online or in-person)
• ACH and eCheck
• Recurring billing for subscriptions
• Virtual terminal for phone or manual payments
• Mobile and point-of-sale options

This flexibility is pretty key for businesses that can’t use standard processors.

Payment gateways and integrations

PayKings works with major gateways like Authorize.net and NMI, and offers integrations with:

• Shopping carts
• Ecommerce platforms
• Invoicing tools
• Custom websites and apps

Most setups use a gateway and merchant account combination rather than an all-in-one platform.

Dispute and chargeback tools

High-risk businesses deal with stricter oversight from banks, so PayKings includes tools to help reduce disputes:

• Fraud filters
• 3D Secure options
• Chargeback alerts
• Chargeback prevention tools

These tools are essential for industries that face higher dispute rates.

Support for high-risk industries

PayKings' main strength is its ability to board industries that mainstream processors reject, including:

• Adult content
• CBD, cannabis, and vape
• Firearms
• Credit repair
• Supplements and nutraceuticals
• Travel and ticketing
• Coaching, consulting, and high-volume digital sellers

This broad industry coverage is one of the reasons merchants seek out PayKings.

Developer tools

PayKings offers API access and custom integration options for businesses that need to build their own checkout flows or connect to existing software.

Account support

Merchants receive onboarding help and ongoing support through account managers who work between the merchant and the acquiring bank.

PayKings pros and cons

PayKings is a strong option if you’re in a high-risk industry and can’t get approved anywhere else. It supports categories most processors instantly decline, and it gives merchants access to tools built for higher-risk payments. 

But at the same time, the trade-offs are real: pricing isn’t published, contracts can be long, and reserves are common. 

Here’s what to expect:

Pros

• Approves industries most processors reject: Works with adult, CBD, vape, firearms, betting, supplements, credit repair, and other high-risk categories.
• Supports digital businesses that get flagged elsewhere: Coaching, consulting, SEO, web design, sports betting communities, and high-volume digital sellers are often approved here.
• Multiple payment options: Cards, ACH/eCheck, recurring billing, virtual terminal, and gateway integrations.
• Chargeback and fraud tools: Helpful for industries that deal with more disputes.
• No setup or application fees: You can apply without paying anything upfront.

Cons

• Pricing isn’t public: Rates and fees depend on the bank, so you don’t know exact costs until after underwriting.
• Longer contracts: Most onboarded accounts come with multi-year terms set by the acquiring bank.
• Rolling reserves: Look out, a portion of your revenue will be held to manage risk.
• Slow approval times: Manual bank review means onboarding isn’t instant.
• Not a good fit for low-risk sellers: Standard online businesses often pay more here than with mainstream processors.

Is PayKings legit?

Yes, PayKings is a legitimate high-risk payment processor that’s been operating since 2011 and works with real acquiring banks to place merchants. 

It has a strong online reputation, it holds high ratings on platforms like Trustpilot and Google, and there are no major lawsuits or fraud claims connected to the company.

But hold up one moment: legit doesn’t mean worry-free. High-risk processing comes with real trade-offs:

• Approval isn’t guaranteed: Even with PayKings, the final decision comes from the bank underwriting your business.
• Terms can vary a lot: Pricing, reserves, limits, and contract length depend on the bank, not PayKings.
• Support depends on your setup: Merchant feedback is mostly positive, but experience can vary across account managers.
• High-risk rules still apply: You may still face rolling reserves, stricter monitoring, and tighter rules around chargebacks.

PayKings is a legitimate provider, but it operates in a part of the payments world where terms are stricter and less predictable than other solutions.

Selling legitimate services, but keep getting flagged as high risk?

Earlier, I mentioned that a lot of online businesses get labeled high risk even when they’re not selling anything restricted. 

Coaching, consulting, sports betting communities, SEO work, web design, and high-volume digital offers can all get shut down or held by automated payment platforms because the system misreads the model.

That’s where the gap appears: Some businesses don’t belong in a full high-risk setup, but they also can’t rely on mainstream payments staying stable.

Enter Whop Payments. If your business is operates in an allowed category and doesn’t sell regulated products, Whop gives you a better way to get paid. 

Fast onboarding, simple terms, clear fees, and reliable payouts. All without going through the long, bank-driven underwriting process that high-risk providers require.

It’s a full payments stack that works for creators, coaches, communities, and entrepreneurs who keep running into payment issues even though their offers are fully compliant.

Skip the roadblocks and scale your payments with Whop

High-risk platforms like PayKings exist for a reason: some industries can’t get approved anywhere else. 

But something I’ve learned working with creators? Not every business considered high risk actually belongs in that category.

If you’re selling and keep running into shutdowns, holds, or confusing reviews? Chances are, you don’t need a full high-risk setup. You just need a payment flow that understands how these businesses work.

Whop gives creators, coaches, educators, community owners, and entrepreneurs a simple way to get paid without the delays, paperwork, or multi-year contracts that come with high-risk providers. 

Build, launch, and manage everything (including payments) in one place.

Sell with Whop and watch your business payments simplify.

PayKings FAQs

Is PayKings legit?

Yes. PayKings is a real high-risk payment provider that’s been operating since 2011. They place merchants with partner banks that are willing to underwrite higher-risk industries.

Why would a business need PayKings instead of Stripe or PayPal?

Stripe, PayPal, and Square decline or freeze accounts in specific industries. If you sell CBD, adult, vape, firearms, dating, supplements, or other flagged categories, PayKings is one of the providers that may approve you.

How long does PayKings approval take?

It isn’t instant. Most high-risk approvals take several days to a few weeks because a bank has to manually review your business, website, fulfillment, and financials.

Does PayKings publish its pricing?

No. Pricing is custom because each bank sets different rates, reserves, and contract terms. Most high-risk accounts use tiered pricing and may include monthly fees.

Does PayKings require a long-term contract?

Usually yes. High-risk merchants are often placed on 2 to 3-year contracts set by the acquiring bank, not PayKings itself. Early termination fees may apply.

Will PayKings require a reserve?

Possibly. Many high-risk accounts come with rolling reserves or volume caps to protect the bank from chargebacks. This depends on your model, history, and risk level.

Does PayKings work for digital-only businesses?

It depends. If you sell within high-risk categories, they may approve you.

But if your business is fully digital and compliant (coaching, consulting, community access, design services, tech support, etc.), you usually don’t need a high-risk account at all. Options like Whop are much simpler.

Who shouldn't use PayKings?

Low-risk online businesses. If you aren’t selling regulated products, a high-risk processor will make payments slower, more expensive, and more complicated than you need.