Credit Card Processing for Subscription Based Companies
For a long time, companies, in just about every industry, have taken advantage of subscriptions and recurring payments as a form of great customer retention and sales tactics. This provides the subscriber or customer with a convenient one-time payment for recurring services while also letting companies boost sales with up sells and continuity payments. Although, is the very nature of these payments; unclear terms and conditions, late cancellation fees and buyer’s remorse, that make it so that many companies relying on these recurring payments are finding it difficult to open a merchant account that meets their needs.
Getting Approved for Negative Option Processing
Companies that do offer subscription based or recurring payments are considered high-risk by banks because of their above average number of chargebacks by customers and subscribers. This has had a significant impact on businesses that absolutely need the ability to process credit card transactions on a subscription basis. Often, offering recurring payments and subscriptions to customers is a great benefit to them so losing out on this capability can leave companies dead in the water. Because of this high-risk label placed by the banks, many processors will turn away companies looking to be approved for a subscription and recurring payment merchant account.
Leap Payments knows the subscription based and negative option industry works and how to get you approved fast. We are dedicated to working alongside you to create the best credit card processing solution that provides both you and your customers with the best payment options.
Leap Payments Can Get You a Subscription Merchant Account
Voted best-rated credit card processing company in the recurring payments industry, Leap Payments has the experience needed when working with high-risk merchants. We know you need merchant services that offer the best in continuity payments, flexibility and financial security to allow you to focus on running and growing your business. We offer a Lifetime Rate Lock to guarantee; meaning your merchant account rates will not increase, ever. Also, our interchange plus pricing model provides you with the ability to implement a processing solution tailored for your specific business needs at the lowest possible rates. There are many reasons so many companies utilize our services to open a subscription merchant account, but here are just a few:
Since continuity payments require credit card payments rather than check or cash for a reliable and seamless experience, we work with companies on creating an online credit card processing program that works directly with their existing sales system. If you have any physical locations, we also offer card readers that can be installed. We offer concierge services like showing you how to understand your monthly processing statement and finding ways to lower your chargebacks. We at Leap Payments prefer to work with you every single day to earn your business, that’s why we don’t believe in limiting you by signing contracts.
We are ready to help you on an individual basis whenever you need with our 100% U.S. based customer support team. Have questions about your account and offer advice on credit card readers and the best way to set up your online credit card processing account? Learn more by contacting a Leap Payments subscription merchant account representative today.