The recurring billing business model is a popular form of payment processing for many businesses, but especially for eCommerce businesses. From your local organizations like gyms and newspapers to big corporations like NetFlix and Amazon Prime, most likely the average American consumer is making payments via the recurring billing model.
If your organization is one of the many eCommerce or brick and mortar businesses that operate on a recurring billing model, you may not know how challenging it can be to get approval to accept debit and credit card payments through the average payment processor like PayPal, Shopify, or Swipe. This is due to many factors like high rates of credit card chargebacks that may cause acquiring banks to freeze or shut down a recurring billing merchant account.
- PayKings recurring billing gives you the flexibility to customize the intervals when your customers are charged.
- Account Updater – With Account Updater, you’ll minimize lost sales and declines when your customers’ credit card information changes or expires. Card details are automatically refreshed, ensuring a seamless experience for both your business and your customers.
- Customizable pricing tiers and schedule that works for your business, whether it’s weekly, monthly, semi-annually, or any other schedule you choose.
- Whether you offer a membership or subscription, PayKings recurring billing optimizes your checkout experience and grows customer retention.
Set Date, Bill and Bill Again. We make it easy for your merchants to bill their customers regularly with our Recurring Billing service. All they have to do is establish a recurring billing schedule and the gateway handles the rest.
Why are Recurring Billing business models Considered to be High Risk?
Excessive chargebacks can lead to a recurring 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 retailer uses an aggregate payment chip is that the”approval process” in many instances isn’t actually an approval at all. What happens is that the merchant account is approved on a contingent basis, then much later, the backend underwriting process begins (many time on the petition of your first chargeback) and your company is obtained as a high risk merchant — that leads to your accounts either being suspended until further notice or you’re dropped from their stage entirely with no notice.
PayKings, pioneers in the industry of electronic payment processing, particularly for high risk merchants who should need a high risk recurring billing merchant account, is your way around all the hassle and stress that come with worrying about being dropped by an aggregate payment processor. When you start off with the right payment processing company, and one that does their own in-house underwriting like PayKings does, you’re setting your company up for success right from the get-go.
Be sure to discuss the intricacies of your business needs in regard to the types of subscriptions or recurring charging you offer; do you want something which covers a 7-day free trial, a 15-day subscription, a 30-day repeat charging cycle, etc.. Make sure everything you need to run your business smoothly and efficiently is covered during the underwriting process when applying to your recurring billing merchant account.
Why Should I Choose PayKings for Payment Processing for my Recurring Billing Merchant Account?
Shop your choices around and find a qualified and reliable payment processing firm, like PayKings, who have first hand experience with high risk recurring billing merchant accounts. Be sure to ask all of the questions you need to address your concerns, things like: Can you write my particular subscription company type? How much experience do you have working with businesses who need recurring billing merchant accounts? 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 just the payment processing you require, but the peace of mind you deserve.
PayKings understands the special needs of different recurring billing related companies and has created 24+ acquiring banking connections to become experts in getting recurring billing companies accepting online payments.
Our Merchant Accounts are Compatible With:
- All popular shopping carts
- All major online payment gateways
- Banks that offer special programs for online merchants
- All Internet hosting companies
- All types of products and categories, except those that are prohibited by law or by Visa and MasterCard rules