The continuity economy has become one of the most successful business structures within the last few years. This is, in part, due to the convenience of paying for and receiving goods and services through subscriptions. But what's more inconvenient than mailing a check or dealing with the intricacies of PayPal? Without the ability to accept credit card payments quickly and securely, your subscription business will surely suffer.
On top of this reality, the subscription or recurring structure is not considered a traditional category by acquiring banks. Essentially, this means that, as the business owner, you will have a harder time securing merchant processing in comparison to traditional, low-risk businesses.
Due to excessive chargebacks, high volume of sales, and possible fraudulency, banks have deemed this space high risk. Thankfully, issues such as these can be mitigated or prevented. Finding a merchant account provider for your subscription based company is the first step to processing transactions quickly and efficiently. These services have the capability to put structures in place to allow for continuity billing, a seamless gateway integration, and risk mitigation tactics.
One of the most controversial features many continuity businesses provide is negative option processing. In essence, this feature is a recurring charge or subscription set in place to continually renew until an action on the consumer’s end is taken. Negative option processing is common practice in the subscription industry. Not only is this feature convenient for the merchant—providing steady revenue—but it's also convenient for the customer, who doesn't have to manually renew the subscription or service each period. However, this style of recurring payment can be viewed negatively when it comes to finding a merchant account because banks see this service as a potential risk.
Whether you’re offering a trial supplement, a clothing subscription box, or another service, your customers expect to pay with credit and debit cards. Your success hinges on the ability to accept major card types without a hitch. Partnering with a reputable high risk merchant account provider that supports continuity and subscription style businesses is necessary for your success. PaymentCloud not only focusses on high risk industries, but we also work with a plethora of subscription based businesses that are uniquely positioned with the infrastructure and mitigation tools to help you find continued success.
We are an innovative payment solutions company specializing in the unique challenges of hard-to-place, , and eCommerce industries. We have the scale and framework to support subscription-style businesses and ensure proper underwriting practices are utilized on each one to mitigate the associated risk and become PCI compliant. Our API integrations work with nearly every third-party gateway and allow security and reliability for your customers.
PaymentCloud recently partnered with SUBTA (Subscription Trade Association) to make sure that we stay up to date with the trends and transformations in the subscription continuity industry. Very quickly this move has proven to be an indispensable resource for us to facilitate our merchants within this industry. Knowing that one of the largest organizations for recurring billing trusts us to be a provider to their numerous business owners is a huge honor.
At PaymentCloud, we work with a wide array of continuity-style businesses.
The possibilities in this industry are endless because of the ability to monetize almost anything. And because of the popularity of subscription style processing, customers seek out businesses with this pay structure. Subscription is easy to budget for, provides a predictable revenue stream, and gives customers more options than traditional avenues. And with the nature of the space changing and shifting over time, the possibilities are truly endless.
We understand securing credit card processing for subscription based companies can be a difficult venture. Finding the right merchant services company to secure payment processing will mean the difference between delaying your business development and accepting customers.
Get started with your merchant account today! Simply call or fill out our online form so we can start the application process and get you processing credit cards as soon as possible.
Create an account and start accepting payments almost instantly, or contact us to design a custom package for your business.
From day one, Miles has been an overwhelming help to me in making sure I am making the best choices for building my business. His patience with me as he helped me step by step in submitting my application was so appreciated! …The team has been amazing across the board, and I truly cannot thank them enough!
I've been working with the folks at PaymentCloud for about two weeks now. They have made it super easy and they guide you through everything! Their customer service and support is awesome! I'm so glad that we connected with Michael S. and all the other folks at PaymentCloud. Highly recommend!
The agent who helped me to onboard was attentive and consistent throughout the process... They made sure I knew how to manage my accounts and had them properly set up and in compliance. They turned what could’ve been an intimidating process riddled with errors into a smooth transition for my business.