Coaching Merchant Account
PaymentCloud offers merchant accounts specifically designed for coaching and mentoring businesses.
With fast approvals, competitive rates, and easy integrations, we simplify payment processing, so you can focus on growing your business.
- Secure Payment Processing
- Chargeback & Fraud Prevention
- Varied Payment Methods
- Dedicated Account Managers
- Quick Account Approval
- 100+ Integration Options
Payment Processing Solutions for Life and Business Coaching
Securing a merchant account can be challenging for businesses labeled as “high-risk,” such as those in the coaching industry. Even if you manage to open an account with popular processors like Square or Stripe, there’s a high chance it could be shut down and your funds frozen.
PaymentCloud specializes in providing high-risk merchant accounts tailored to coaching and mentoring businesses. Our process is simple and straightforward – once you’ve submitted an application, a dedicated account manager will assess your business needs, recommend tailored payment solutions, and guide you through a seamless setup. With quick approval times, you can typically begin accepting payments as soon as the next day.
Securing a merchant account can be challenging for businesses labeled as “high-risk,” such as those in the coaching industry. Even if you manage to open an account with popular processors like Square or Stripe, there’s a high chance it could be shut down and your funds frozen.
PaymentCloud specializes in providing high-risk merchant accounts tailored to coaching and mentoring businesses. Our process is simple and straightforward – once you’ve submitted an application, a dedicated account manager will assess your business needs, recommend tailored payment solutions, and guide you through a seamless setup. With quick approval times, you can typically begin accepting payments as soon as the next day.
Types of Coaching Businesses We Support
- Life Coaching
- Business Coaching
- Financial Coaching
- Fitness Coaching
- Career Coaching
- Health & Wellness Coaching
- Relationship Coaching
- Intimacy Coaching
- Spiritual Coaching
- Parenting Coaching
- Family Coaching
- and many more!
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Why is Coaching Considered a High-Risk Industry?
There are a few reasons why opening a coaching or mentoring merchant account is considered high-risk. These include:
- High Chargeback Rate: Since coaching results are hard to quantify, customers may feel disappointed and dispute payment. Coaching services are also often set to recurring subscriptions, allowing clients to stop making payments or file a chargeback with their processors.
- Potential Reputational Harm: If a client feels that the help they received was unsatisfactory, they might leave a bad review or, through word-of-mouth, alert potential customers. A poor reputation can prevent banks and processors from working with these types of businesses.
- Lack of Industry Regulation: The coaching industry is not significantly regulated and lacks strict standards regarding qualifications. Without clear guidelines, it may be difficult for customers to determine if the services they receive are effective.
Flexible Payment Solutions for Your Coaching Business
At PaymentCloud, we are committed to helping coaching businesses thrive. Our wide array of payment processing options ensures we can meet your business’s unique needs:
Online
Online payments have increased due to convenience and flexibility. Coaching and mentoring businesses must have digital payment options to stay current with this trend. PaymentCloud offers online payment solutions with payment gateways that integrate seamlessly with most eCommerce platforms. Through online tools, you can accept credit and debit card payments and set up recurring billing invoices and custom QR codes.
Retail
Setting up a physical office to conduct your coaching services may be worthwhile. If potential clients want to book mentoring sessions during an in-person consultation or purchase available self-help books, you will likely need a POS terminal. By opening a retail merchant account for coaching and mentoring, you can accept contactless NFC and Tap-to-Pay payments, EMV chip payments, and mobile wallet options like Google Pay and Apple Pay.
Over the Phone
Setting up a virtual terminal enables your business to accept payments over the phone when credit card information is gathered via mail order or email, or during a phone conversation. Business owners can also send clients text or email invoices to book and finalize sessions. As long as you securely process your customers’ credit card information, you can efficiently complete the sales process while improving the customer experience.
Coaching Credit Card Processing Fees
Typically, average credit card processing fees range between 1.5% and 3.5%. The card brand and transaction type can also dictate what merchants pay. Other factors can affect the rate as well, such as the payment model offered and whether or not your business is deemed high-risk. Since coaching fits the high-risk category, you could be paying closer to 3.95% + $0.25 per transaction.
At PaymentCloud, we provide affordable credit card processing options for coaching and mentorship businesses. Contact us to discuss how we can help your business save on credit card processing fees.
Coaching Merchant Account Application Requirements
PaymentCloud streamlines the application process, allowing your coaching business to accept payments ASAP. Speed up the approval process by collecting the following documentation before you apply:
Government-issued photo identification
Signed merchant application
Voided check or bank letter
Three months of bank statements
Information regarding your coaching business (and its products or services)
Along with the above, you should also have a website secured with an SSL certificate, use HTTPS, and include:
- Company’s legal name and logo
- Contact details (phone number or email)
- Privacy Policy page
- Terms & Conditions page
- Footer with the company name
- Return and Refund Policy page
- Maintain 2257 compliance
Why Choose PaymentCloud?
There are many reasons to choose PaymentCloud to process your coaching or mentor business’s credit card transactions. Let’s explore some of the many benefits of our payment services.
Trusted High-Risk Payment Processing Providers
With years of experience, we understand the daily complexities that high-risk merchants face. From chargeback and fraud management to industry compliance, PaymentCloud has a solid track record of curating reliable processing solutions for high-risk businesses.
100+ Integrations
Whether you need Magento, Shopify, WooCommerce, or another platform, our powerful suite of tools offers seamless integration with over 100 eCommerce and point-of-sale systems. Create a streamlined payment experience tailored to your business.
Cutting-edge Payment Gateways
Our payment gateways are designed to help your business increase profits. Whether you want to offer subscriptions for recurring revenue or discounts on coaching sessions, we can help you accept payments easily.
Chargeback Protection & Fraud Prevention
Chargebacks and fraud can pose a serious risk to businesses in the coaching or mentor industry. High volumes of either can lead to lost revenue, merchant account shutdown, and potential security risks. At PaymentCloud, we provide advanced prevention tools to protect our clients and support them when disputing instances of “friendly fraud.”
Dedicated Account Managers
Navigating the payments industry as a high-risk business can be challenging. Our trained team of representatives is well-equipped to guide you through the process with a tailored payment plan. With transparency and advanced industry knowledge, our account managers can get your coaching business accepting payments ASAP.
Ready to Get Started?
Apply now to be contacted by one of our trained representatives. Find out how to open a merchant account for coaching and mentoring and start accepting payments.
Here's What Our Merchants Say
With a proud average of 4.8 stars across all review sites, PaymentCloud excels in solutions and support. But don’t take our word for it! Here’s what our merchants have to say:
Brad R
Excellent service. First and foremost due to the nature of our business, we were declined by about 15 other payment processors before we came across Payment Cloud. And they have excelled in offering us the services we need and more, with extremely quick response times, and great customer service!
Amanda H
The application itself was easy to fill out and self explanatory and the application process was actually very quick and painless as well!
Candyce P
I am impressed with the professionalism and impeccable service. Hovak has followed up with us frequently to ensure that we are up and running and equipped with the necessities. I am satisfied knowing that this company is part of your establishment.
