People love to read magazines. Be it online publications or the hard copies whose pages they love to flip through. These magazines are published at regular intervals such as monthly, bi-weekly or even weekly. This means different cycle of payment for different magazines. Not to forget, people subscribe for different periods of time.
When payments keep coming in on a regular basis, you cannot expect all of them to be in cash form. Many of these readers browse online and when they find the magazine they like, they simply hit the subscribe link. Now, the reader doesn’t want to spend much time on the subscription process itself. They would rather spend all that time reading a magazine.
This calls for effective payment processing. When you are in the business of offering magazine subscription or sales, you should be in a position to accept card payments without further adieu. The best solution for your kind of business is a merchant account. An account which can process both credit card and online payments, to enable your customer can get hold of their favourite magazines quickly.
If you have approached banks or other credit card processors or payment processors like PayPal and First Data, you must be aware of how difficult it is to get a merchant account. This is because your business is considered to be high risk. Since the entire transaction and business is done online, without having to meet the customer or the magazine dealer, there is a high level of risk involved.
No one wants to take the risk of losing payments because a customer was billed incorrectly or because a customer clicked “subscribe” by mistake. In such situations, the customer asks for a chargeback and in most cases you will have to give it. What if the credit card used to make the payment was stolen? It is the merchant account that stands to lose. Hence the difficulty to get a well equipped merchant account at a reasonable rate.
Are you new to this industry? Well, that only increases your risk profile and makes it even more challenging to secure a merchant account. If you have been in this business for more than 6 months or so, it will be relatively easier for you to have your application considered. This is because your payment history and the way you deal with complications can be understood and the level of risk for the account provider can be ascertained.
Similarly, it is always more safe to operate domestic accounts than offshore accounts, simply because the risk is lesser. Though offshore accounts are not required for all businesses, they can be a big advantage on saving taxes.
If you want an all inclusive, well protected merchant accounts, we are here to help. We are interested in encouraging the reading habit. If magazines are what a person wants, they should be able to get it easily. With our merchant accounts, you can accept any kind of payment. We can process cards like Visa/Master Card/Discover/Amex, or even offer ACH Processing/Check Processing facilities.
You don’t have to worry about the safety of your customer as all the details are well guarded when you use our secure virtual portals to make a payment. The card and other details are recorded and when a recurring billing or regular customer wants to make yet another payment, their details are provided and all they have to do is enter the amount and confirm the payment. Now your customer need not worry about making a payment when the card is not present. If you require check drafting facility, we can provide that too.
We even have Iphone/ Droid mobile apps to facilitate those readers who rely more on their phone. Now you don’t have to lose out a subscription because your services are not compatible with the crowd that lives through their phones.
How We Work
All these services at competitive rates! Wondering how we are ready to offer merchant accounts even when the big fishes in the industry won’t consider your application? We have tie ups with multiple underwriting banks that enables us to provide you a merchant account in as little time as possible.
All you have to do is call up one of our friendly agents and they can clarify all your doubts and put you on to the right person for further clarifications. There is no application fee and you can open an account with us any time. The entire application process is very simple and the gate way set up hardly takes any time. Once the gateway is up and ready, your customers can make any kind of payment on our portals and everything can be processed easily.
We will analyse your business as high risk Vs low risk to determine our exposure. The rates also vary according to start up Vs history as the risk level is always higher in a new company. Once the risk level is ascertained, we can give you the rates and any service you require. We understand chargebacks are common in any credit card payment and it is no different in your industry. Do not worry. We have you covered. We are here to ensure your ecommerce is spot on and to help your business grow.