After a long period of searching and testing all the various suggestions I’ve received from OP and others here on OCT, I’ve decided to shut down my IPTV business. It simply requires too much technical expertise for me to get it running properly and secure a payment processor.
However, I will continue following the thread to see if a viable solution arises in the future. For now, I’m shifting to another business that hopefully won’t require a merchant account in the high-risk category.