Continuity Billing Merchant Account
We pride ourselves on being the best option when it comes to setting up a continuity billing merchant account for businesses that are structured for selling subscription products, free trials, memberships, digital products, and for those that require continuity and recurring billing – whether it be via the phone or through eCommerce payments.
That being said, a continuity billing merchant account is classified as high risk, which can occur for a variety of reasons, but this element does make it difficult to find a reliable payment processing partner. Luckily, PayKings specializes in working with high risk merchants, and we have multiple acquiring banking partners that offer continuity billing merchant accounts.
Here’s a Common Scenario
When your business is set up to accept payments through a continuity billing merchant account, there’s a high risk of incurring excessive chargebacks. If you’re unaware of what a chargeback is, it’s when the customer disputes a charge on their debit or credit card by calling the number on the back of the card and claiming not to have authorized the purchase.
They might give any number of excuses as to why they’d like a chargeback; the charge isn’t one they recognize, they never got the item they purchased, the product wasn’t what they expected it to be, defective merchandise, etc., but when it comes to businesses that set up continuity billing, the most common excuse is that the customer never authorized the company to bill their card.
Regardless of the reason they use to dispute the transaction, it starts this whole process of the dreaded chargeback with the customer contacting their bank and the bank contacting your credit card processor, who then gets in touch with you. What happens next is that the disputed funds are taken from your bank account and do not become available to you again until the dispute is settled, and in the case the customer proves that they didn’t authorize the transaction, the funds will not become available to you at all and will be “charged back” to the customer.
Are you, as the continuity billing merchant given a chance to speak up in this scenario? Yes, you are given an opportunity to refute the customer and prove that the charge indeed, was authorized – in which case the funds would be released back to you, but the runaround of the entire process is a huge hassle.
How Does Being High Risk Affect Your Chances of Getting aContinuity Billing Merchant Account?
- A customer doesn’t even need a legitimate reason to file a chargeback and start the whole headache of a process. They can file a claim at any time, for any reason.
- The process of refuting a chargeback isn’t JUST a headache to deal with, it’s a very technical and involved process that can literally result in the customer winning the dispute based on a technicality on your part (if all the documents are submitted in a very specific way).
- If the chargeback is proven to be in the customer’s favor, not only do you lose out on that sale and the money from the sale, but in most cases you also lose whatever product or service was made in the initial purchase. Additionally, your credit card processor is likely to tack on fees and extra charges for the chargeback to your continuity billing merchant account.
- The biggest downfall of incurring an excessive amount of chargebacks (whether the claims are legitimate or not) is having your entire merchant account terminated.
Why Does this Matter and How Can PayKings Help with my Continuity Billing Merchant Account?
Like stated in the section above, excessive chargebacks can lead to your continuity billing merchant account to be completely shut down with an aggregate payment processor like Paypal, Stripe, or Square. Another common point of conflict that occurs when a merchant uses an aggregate payment processor is that the “approval process” in many cases isn’t actually an approval at all. What happens is that the merchant account is approved on a contingent basis, and then much later, the back-end underwriting process begins (many time upon the request of your first chargeback) and your business is accessed as a high risk merchant – this results in your account either being frozen until further notice or you’re dropped from their platform all together without any notice.
PayKings, a leader in the industry of payment processing, especially for high risk merchants who need to acquire a continuity billing merchant account is your way around all the hassle and anxiety that come with worrying about being dropped. When you start off your payment processing with the right company, and one that does in-house underwriting, your setting your business up for success right from the get go.
Be sure to discuss the ins and outs of your business needs in terms of the types of subscriptions or continuity billing you offer; do you need something that covers a 7 day free trial, a 15 day membership, a 30 day repeat billing cycle, etc. Make sure that everything you need to run your business smoothly and efficiently is covered during the underwriting process when you apply for your continuity billing merchant account.
This is where PayKings Steps In
Shop your options around and seek out a qualified and reliable payment processing company, like PayKings, who have first hand experience with high risk continuity merchant accounts. Be sure to ask all the questions you need to address your concerns, things like: will you write my specific subscription business type? How much experience do you have working with businesses that need a continuity billing merchant account? What are the fees like?
Once you feel satisfied with your answers, take the five minutes needed to fill out an application for a free quote – and get not only the payment processing you need, but the peace of mind you deserve.
PayKings understands the unique needs of different continuity billing related businesses and has established a 24+ acquiring banking relationships to become experts in getting continuity billing companies accepting online payments.
PayKings understands the unique needs of the different continuity billing related businesses and has established 24+ acquiring banking relationships to become a experts in getting your Continuity Billing merchant account set up and accepting online payments.
Continuity Billing Merchant Account Experts
- 20+ Proven Bank Relationships
- Medium/High Risk Accounts
- Fast Continuity Billing 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