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Do You Need Background Check Merchant Account Solutions?

A background check merchant account is classified as high risk for several reasons, making it difficult to find a reliable processing partner. But Double Helix Processing specializes in working with high risk merchants and we have multiple acquiring banking partners that offer background check merchant accounts.

Knowing your credit score and fixing possible issues on your credit report is an important and necessary tool for everyone. Because of this, the background check industry is growing and expanding, and you can bolster your market share with an online presence. Double Helix Processing has multiple options for your business, and we make it simple to obtain a background check merchant account.

Have You Lost Payment Processing for your Existing Background Check Merchant Account?

Chargebacks are quite common when it comes to background check merchant accounts and this can happen for a variety of reasons, but regardless of why, these chargebacks will categorize your business as high risk. This is turn means that your background check company will need a high-risk merchant account.

Learn more about the most commonly abused reasons for a credit card chargeback dispute and how to fight chargebacks.

The biggest complaints from customers that initiate chargebacks against background check merchant accounts are due to the members only wanting to try a deeply discounted first-look period and then chargeback the fees that come once the discount period ends. It also occurs when members think the background check merchant accounts will provide a specific type of generated report or service to them and are disappointed when their perceived expectations end up not being met and they issue a “product not as described” chargeback.

How Does Being High Risk Affect Your Chances for Getting a Background Check Merchant Account?

The main reason to make sure you have the right background check merchant account payment processing for your business is to avoid the chances of your merchant account being shut down. The bank can close your account and hold funds, often without notice. This means you have no way of selling your services, it stops all cash flow entirely, and the money from the background check merchant account services you sold could be held by the banks for several months.

When you start off with the right background check merchant account, you increase the longevity and sustainability of your merchant account. The bank’s underwriting or due diligence does not end after the account has been opened. There is ongoing risk monitoring through bots and web crawlers and even mystery shoppers that is associated with all merchant accounts. So, if a background check merchant account has been opened and the business model is deemed high risk after the fact, expect the account to be closed quickly. However, starting out with the right background check merchant account betters the odds that the acquiring banks will be more lenient and thus allow your merchant account to opened for much longer and be more stable for you.

Additionally, if a customer requests cancellation of a recurring transaction that is billed periodically (monthly, quarterly, annually) from your background check merchant account, always respond to the request and cancel the transaction immediately or as specified by the customer. If not, you may fall subject to a credit card chargeback, advise the customer in writing that the service, subscription, or membership has been canceled and be sure to be clear of the effective date of cancellation. Failure to respond to customer cancellation request can lead to a chargeback.

How Can Double Helix Processing Help with Your Background Check Merchant Account? As the world gets increasingly cashless, offering your customers an alternative to cash or check is paramount to your business’s success. Some benefits of starting a high-risk merchant account would be:

  • Improved cash flow.
  • Capability to accept recurring payments for services for ongoing subscriptions (monthly, quarterly or yearly).
  • Increased earnings.
  • Avoid possible losses from bounced checks.
  • Greater customer convenience and satisfaction.

Double Helix Processing can get your high-risk background check company a merchant account quickly and easily. Additionally, Double Helix Processing understands the ways to keep costs for your business low and your high-risk merchant account in good working order. A few of the strategies that background check merchant account businesses can put into place to assist in reducing chargebacks are:

1. Respond to your customer requests to cancel a recurring transaction

If a customer requests cancellation of a recurring transaction that is billed on a recurring basis (monthly, quarterly, annually), always respond to the request and advise the customer in writing that the service, subscription, or membership has been canceled and clarify on which date the cancellation is effective.

2. Have a customer service help desk

Institute a place where customer calls and emails are answered in a timely manner and dissatisfied customers receive resolution to their issues internally rather than through their credit card company.

3. Make sure the payment descriptor is your merchant name

If the customer doesn’t recognize the name that appears on their statement, it is less likely that they will know what the charge was for. Additionally, you should also include a contact number or email for the customer to reach out to in order to clarify the transaction in question. To avoid a chargeback dispute, the solution is to be sure your descriptor reflects what the consumer will recognize.

Learn more about how to avoid credit card chargebacks here.

Why Should You Choose Double Helix Processing?

We understand the unique needs of the different background check related business types and have established numerous acquiring banking relationships to become your best resource in getting background check merchant accounts set up and accepting online payments. Our expertise is your ticket to getting the stable processing you need to further your business.