LOOKING FOR AN ONLINE SHOPPING & MEMBERSHIP CLUB MERCHANT ACCOUNT?
Look no further than PayKings - the leading experts in getting your online shopping and membership club merchant account approved and ready to accept payments
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Need Help Opening an Online Shopping & Membership Club Merchant Account?
An online shopping and membership club merchant account is classified as high risk for a variety of reasons, making it difficult to find a reliable payment processing partner. PayKings specializes in working with high risk merchants, and we have multiple acquiring banking partners that offer online shopping and membership club merchant accounts.
The online shopping and membership club industry is growing, and you can expand your market share with an online presence. PayKings has multiple options for you and we make it simple to obtain an online shopping and membership club merchant account in as little as 48 hours.
Have You Lost Payment Processing for Your Online Shopping and Membership Club Merchant Account?
Chargebacks are quite common when it comes to an online shopping and membership club merchant account and this can happen for a number of reasons, but regardless of why, these chargebacks will categorize your business as high risk – which just means that your online shopping and membership club company will need a high risk merchant account. For more on the most commonly abused reasons for a chargeback dispute and how to fight chargebacks, click here.
The biggest complaints from customers who file chargebacks against an online shopping and membership club merchant account are due to the members either only wanting to try the service for the “free trial” time period and then chargeback the fees that come once the trial membership ends, and it also occurs when members think the online shopping and membership club merchant account will include specific items or deeper discounts and are disappointed when the membership ends up falling short and they issue a “failure to deliver” chargeback.
How Does Being High Risk Affect Your Online Shopping & Membership Club Merchant Account?
When it comes to businesses that are high risk, like those applying for online shopping and membership club merchant accounts, simply just means that there are significantly more regulations to adhere to. Restrictions that limit access to resources that would be available to low risk businesses, and far more hoops to jump through before being secured with proper payment processing.
Why is this? Well, the fact is that big banks and the mainstream payment processors like PayPal, Stripe, and Square do not allow payment processing for high risk businesses like those who are in the online shopping and membership club merchant account industry. It can seem like this backs you against a wall and that your options are limited – that isn’t true, in fact, you just need to find a payment processing company who works day in and day out with high risk merchants.
Businesses like online shopping and membership clubs that are considered high risk have to know who the right processors are. Those high risk merchant account providers that are willing to process transactions for your high risk business, reputable companies like PayKings, are offering solutions to those businesses that need it most. These payment processors are willing to accept the liability for the increased risk associated with those categorized high risk businesses.
So, when you need a payments company to provide a high risk subscription box merchant account – PayKings is there, and can do all of that and more.
Online Shopping & Membership merchant accounts are considered high risk due to the following reasons:
- Claims of fraud
- High-ticket items
- Recurring billing models
Why Does this Matter and How Can PayKings Help with my Online Shopping & Membership Club Merchant Account?
How do you go about getting an online shopping and membership club merchant account for your business? Good question. It’s a relatively simple process that begins with choosing a merchant account payment processor provider. You need to choose a reputable company like PayKings, who has direct relationships with bank sponsors that can provide you with payment processing – but the key element to this is understanding that you need a high risk merchant account provider to be successful in your industry.
When you start off with the right merchant account, you increase the prolonged longevity of your online shopping and membership club merchant account. The bank’s underwriting or due-diligence does not end after the account has been opened. There is ongoing risk monitoring that is associated with all merchant accounts. This is why starting out with the right high risk merchant account betters the odds that the acquiring banks will be more lenient.
The label of high-risk merchant isn’t taboo. Factors such as your industry, location, and even the clientele can categorize your business and apply that high-risk merchant label. In the case of an online shopping and membership club merchant account, the primary reason it’s considered high risk is because of continuity billing model and the prospect of having a high chargeback ratio.
However, this shouldn’t send you into a panic, just because you may be more difficult to finance, doesn’t mean you can’t get the merchant processing your business needs. Many times the approval process can be quick and many companies like PayKings provide free quotes. Get the full list of high-risk business types here.
PayKings understands the unique needs of different online shopping and membership club merchant account related businesses and has established 24+ acquiring banking relationships to become experts in getting online shopping and membership club companies approved and accepting online payments.
Membership & Shopping Clubs Merchant Account Experts
- 20+ Proven Bank Relationships
- Medium/High Risk Accounts
- Fast Membership & Shopping Clubs 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