Business Consulting Merchant Account Solutions
Business consulting businesses are classified as high risk companies by acquiring banks for credit card processing. Being high risk also relates specifically to business consulting businesses mostly due to the big ticket dimensions (aka large average transactions), delay time between billing and the delivery of services, and as a general rule, most US acquiring banks are reluctant to underwrite those companies. So what exactly does this mean to you and your business consulting company? It means you’ll need a high risk merchant account.
PayKings specializes in working with high risk merchants, and we’ve got multiple acquiring banking partners offering business consulting merchant accounts.
How Does Being High Risk Affect Your Business Consulting Merchant Account?
The two most important factors for businesses with a high risk merchant accounts status are: underwriting and penalties.
If your business is placed in the high risk class, for example with the business consulting business, you are most likely going to have a much harder underwriting process. You will be required to come up with tax returns, corporate filing paperwork, and several months (sometimes up to a year) of bank statements and processing background.
You can also anticipate greater than normal, and almost unnecessarily excessive fees. This includes but is not limited to higher fees per transaction, higher fees for monthly statements, and a bigger than normal cash reserve to be sure the bank that they are insured in the occurrence of potential chargebacks and or refunds. Additionally, remember that the above only applies if a financial institution decides to approve you… that many will not, and it can be incredibly tough to discover a reliable processing partner.
You don’t have to go through the run around of applying with several banks only to get declined — PayKings makes getting approved for your business consulting merchant account simple. Just complete our quick and effortless form to get started by clicking here.
Why Does this Matter and How Can PayKings Help with my Business Consulting Merchant Account?
When you apply for a business consulting merchant account, the underwriters for the acquiring bank and merchant processing company are analyzing whether your business is one that has a high probability of high ticket sized chargebacks — this is what classifies your business as a high risk merchant.
As a merchant in need of a high risk credit card processor, they will have to attain a high risk credit merchant account with a reputable company like the experts at PayKings. After all, PayKings are the best in the industry when it comes to high risk merchant accounts.
PayKings understands the unique needs of the different business consulting related businesses and has established 24+ acquiring banking relationships to become a experts in getting business consulting merchant accounts set up and accepting online payments.
Business Consulting Merchant Account Experts
- 20+ Proven Bank Relationships
- Medium/High Risk Accounts
- Fast Business Consulting Account Approval
- Large Merchant Case Studies
- E-Commerce and Retail Options
- B2B Vendors Supported
Multiple Payment Solutions
- Multiple E-Commerce Gateway
- Chargeback Prevention
- Credit Cards
- B2B-Level II/III Data Discounts
- 3D Secure Frictionless Checkout
- Mobile Payment
- EMV Readers
Intuitive Compatibility & Support
- Gateway Recurring Billing
- E-Commerce Cart Plugins
- Developer API / Docs
- International Merchant Accounts
- Dedicated Account Managers