Subscription Box Merchant Account
Having trouble finding a reasonable subscription box merchant account for your eCommerce website? Subscription boxes often use recurring billing methods and are considered to be high risk in the online merchant account world, and credit card processing solutions can be difficult to find.
The subscription box 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 a subscription box merchant account in as little as 48 hours.
Here’s a Common Scenario
Chargebacks are quite common when it comes to subscription box merchant accounts 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 subscription box 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 a subscription box 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 subscription box will include specific items and are disappointed when the membership ends up falling short and they issue a “failure to deliver” chargeback.
Why Does this Matter and How Can PayKings Help with my Subscription Box Merchant Account?
How do you go about getting a subscription box 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 the 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 subscription box merchant accounts, 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.
How Does Being High Risk Affect Your Chances of Getting a Subscription Box Merchant Account?
When it comes to businesses that are high risk, this 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 subscription box 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 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.
PayKings understands the unique needs of different Subscription Box related businesses and has established 24+ acquiring banking relationships to become experts in getting subscription box merchant accounts accepting online payments.
Subscription Box Merchant Account Experts
- 20+ Proven Bank Relationships
- Medium/High Risk Accounts
- Fast Subscription Box 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