Are You in Need of Opening a Subscription Box Merchant Account?
Are you having trouble finding a reasonable subscription box merchant account for your eCommerce website? Subscription boxes use recurring billing methods and are considered high risk in the online merchant account industry. This can make credit card processing solutions can be difficult to find.
The subscription box industry is growing with more and more excellent products and services being created regularly, and you can expand your market share with an online presence. Double Helix Processing has multiple options for you, and we make it simple to obtain a subscription box merchant account.
Did You Lose Your Existing Payment Processing for Your Subscription Box Merchant Account?
Chargebacks are common when it comes to subscription box merchant accounts and this can happen for several 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. You can get more information on the most common reasons for a credit card chargeback here.
The biggest complaints from customers who file chargebacks against a subscription box merchant account occur when members think the subscription box will include specific items and are disappointed when the membership ends up falling short and they issue a “product not as described” chargeback or possibly several other reasons.
Why Does this Matter and How Can Double Helix Processing Help with your Subscription Box Merchant Account?
How do you go about getting a subscription box merchant account for your business? Great 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 Double Helix Processing, who has direct relationships with bank sponsors that can provide you with payment processing, keep in mind that 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 sustained 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.
That is why starting out with the right high-risk merchant account increases the odds that the acquiring banks will be more lenient with common issues like chargebacks.
The label of high-risk merchant isn’t a bad one. Factors such as your industry, location, and even the clientele can categorize your business and apply that respective high-risk merchant label. In the case of subscription box merchant accounts, the primary reason it’s considered high risk is because of recurring or continuity billing model and the potential of having a high chargeback ratio.
However, this shouldn’t send you into a panic attack, just because you may be more difficult to approve for processing, does not mean you can’t get the merchant processing that your business needs. Many times the approval process can be quick and Double Helix Processing provides free quotes. Get the full list of high-risk industries for more information.
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 industries, and far more challenges before being secured with a stable payment processing solution.
Why does this happen? Well, the issue is that big banks and the mainstream payment processors like PayPal, Stripe, Square and others 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 limits you and backs you against a wall. That simply 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 like Double Helix Processing.
Businesses that are considered high risk need 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 Double Helix Processing, 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 and have a deeper understanding of your business model.
So, when you need a payments company to provide a high-risk subscription box merchant account, Double Helix Processing is there and can do all of that and then some.
Why Should You Choose Double Helix Processing?
We understand the unique needs of the different Subscription Box related business types and have established numerous acquiring banking relationships to become your best resource in getting Subscription Box merchant accounts set up and accepting online payments. Our expertise is your ticket to getting the stable processing you need to further your business.