Merchant Account for Trial and Continuity Billing
Before we can discuss merchant accounts for trial and continuity billing, we'll need to talk about a general merchant account. Merchant accounts are very popular among online retailers as they are useful for making online transactions easier.
A merchant account utilizes several services to automate the entire process of taking credit or debit card information, verifying it, and transferring payments directly to the merchant's bank account. This is made possible by virtual terminals that let online customers pay for services and products directly without the need for the card or a signature.
However, the trouble is that not every business can get a merchant account. Some industries are deemed high risk and find it very difficult to secure a merchant account. This often leads to companies paying over the top charges and rates to offer their customers the services of credit card processing. This, in turn, can lead to the online business failing miserably as paying these rates and fees makes it hard for them to stay afloat. However, there is a solution to this problem, and it's this service.
Now let's talk a bit about trial and continuity billing. This is a very common system in online businesses, and most online service providers use it. This system of payment lets customers try a service for a trial period after paying a particular amount.
Some companies and businesses also offer free trials. Nevertheless, the trial period is mostly free or costs less than regular charges. After the trial, customers decide whether they're satisfied with the service and want to continue or not. Once they choose to continue, merchants can start continuity billing and provide the complete services.
There are many industries that are classified as trial and continuity but can vary depending on the billing practices. Nutraceuticals, adult dating and entertainment sites, subscription-based businesses, e-cigarettes, recurring billing services, gym or health services, and many other similar services and products.
Denied by Other Credit Card Processors?
If you have already been denied by other credit card processors, worry not because you have found a leading service in the high-risk credit card processing market. This service will provide you with a merchant account that you need for your trial and continuity billing business as it has been for several other businesses for years now.
Getting denied by credit card processors, especially if your business is based on trial and continuity billing, is understandable, but it's no reason for you to go out and pay expensive rates and fees to get a merchant account. To avoid paying over the top simply for a merchant account is the reason specialized services like this one exist. Accepting debit and credit cards is a huge component of these trial and continuity billing businesses and without a merchant account, they simply can't function.
Due to this reason, businesses are unable to make even a single phone call to obtain credit card processing services. But why does this happen? The industry is deemed high risk, but how does it get its high-risk status?
Risk Analysis of the Trial & Continuity Billing Industry
It's true that businesses offering trial products and services have a hard time getting credit card processing services and equipment, and it gets even harder for startups. This high-risk status is due to the large number of chargebacks that they have to face. That's the biggest reason banks prefer to avoid such businesses. The chances of encountering identity theft and scams have also increased. All of this prevent underwriters and banks from approving their applications.
Sometimes, these trial and continuity billing businesses struggle to obtain merchant accounts simply because they can't find companies that are specialized in dealing with high-risk merchant accounts.
This also leads to companies looking for offshore options because domestic ones aren't cooperating or offering their services. However, this service will provide you a domestic credit card processor at affordable rates.
This high-risk status is further elevated if the businesses are online stores and services. However, the truth is that not every type of business faces this kind of rejection. There are thousands of businesses that use similar models on a daily basis without facing any problems.
That's why it's unfortunate that online merchants are handicapped, and this is the reason this service chooses to work with high-risk trial and continuity billing businesses. This service will provide you a secure and reliable merchant account for your company to assure your success.
Type of Merchant Account Needed
Another reason that you need to sign up with a specialized service for high-risk businesses such as this one is that you'll be getting exactly the type of merchant account that is suited for your business. You'll get all the right features and services that trial and continuity billing businesses need to thrive. Specialized services are more focused on understanding and providing for your business needs than an average credit card processor.
Our service also has experience working with trial and continuity billing merchant accounts, and we will offer you all the right features.
Recurring billing and the choice of multiple payment methods are must-have features for a trial and continuity billing.
The service should operate with multiple underwriting banks, so even if one bank decides to cancel your services for whatever reason, your business won't go offline and another bank will be able to take its place.
Domestic and Offshore Options
As discussed before, this service offers a domestic processor's services so that you don't have to settle for an offshore account, but how is that beneficial for you exactly? Domestic accounts offer more security as compared to offshore accounts. Another reason is that these accounts are available at more affordable rates.
This service provides trial and continuity billing businesses with online credit card processing services and a powerful and reliable merchant account. Working with this service will help your business grow and become more successful.