Merchant Account for Document Preparation Services Business In USA

We specialize in Document Preparation Merchant Accounts and merchant accounts for document preparation companies. We approve practically every business type, even if you have been turned down for payment processing.With decades of experience, our team is here to help. Even if you have been shut down by your current processor, we have a solution for your particular situation. We’re available to answer any questions and provide ongoing continued support for our valued customers.

What Is A Document Preparation Merchant Account:

A document preparation merchant account facilitates the abilities to process customer payments and fosters cash flow into the business. Customer payments are the life-blood of any business and may include both debt and credit cards, as well as high-risk each processing to electronically charge a client’s checking or savings account. Automatic recurring billing on a pre-set cycle is another function that may add value. Our experienced staff can determine a merchant service solution to meet your needs.

Merchant Stronghold has a thorough understanding of every aspect of the document preparation industry. We are well versed with all the state legislation and restrictions affecting your business. Whether your document preparation company deals with corporation formations, divorces, student loans, trademarks, name changes or power of attorneys, we have a slew of rock-solid banking relationships on standby; each eager to place your account and give your business the room it deserves to grow.

Document Preparation Merchant Services Are High Risk

The high risk nature of your business suggests you need to identify a suitable high risk payment processor if you wish to get a merchant account for your document preparation business. Search for the provider that’s the best fit for your business. Why? The account services you have will highly influence the way you make money.

How to Get the Document Ready for a Merchant Account?

The first step is to apply for a high-risk merchant account with a high-risk merchant service provider. Reason being, document preparation merchant service is a high-risk industry. This categorization is the reason why you need to find a high-risk merchant service provider, guidelines of which allows accepting documentation preparation companies like Merchant Stronghold.

Copy of the following information must be included in your application when applying for the merchant account:

• Owner’s ID
• Social security number of the owner
• Voided business check
• Last three months credit card processing statements (if applicable)

When you apply for a merchant account (which can be done online), a team of credit card processors underwriting will review your application and if approved. Hence, you will be able to accept debit and credit card payments.

CONCLUSION

Simply complete our online application form. In addition, our well-qualified team will help you with the document preparation and board you within 48 hours. At Merchant Stronghold. We make sure to provide the best services at a very reasonable price. A happy customer is our main goal. Our team works 24*7, 365 days to satisfy our customers.

Tips for High Risk Merchant Account Services for Online Dating Sites

The Internet is a center point for shopping and various services for this generation. So much so that people find it really simple to initiate their dating from online encounters. The nature of this industry has been through a lot of scrutinies. And, a problem for adaptation but as the youth has been supportive of this idea.

Including OkCupid, Match, Meetup, and Plenty of Fish, there are many dating websites and application around. There is by all accounts one for each specialty, making this a profitable and helpful business enterprise. For those searching for a new business assignment, this is enormous. Be that as it may, one of the most concerning issues comes when you are searching for a Merchant account.

Why Merchant Account?

If you own a business, merchant accounts are important to accept credit card payments.This is crucial to having online dating sites. The absence of choices accessible for online dating sites is vast – because of the preparing business arranging it as a “High Risk” industry. “High Risk” implying that it is a higher unsafe of chargebacks, which we as a whole know are harming a business. The comprehension of chargebacks is one of the greatest things that you have to search for when you are in the market for an online dating Merchant account.

WHY IS ONLINE DATING SITES ARE “HIGH-RISK BUSINESS”

Approx 15 % to 18% USA population is dependent on online dating and it generates revenues in billions. As we know there is a lot of potential in this field.

Chargeback Rates are so High 

Dating is totally based on personal fulfillment of person. If they discover the match of their choice from the bank of your user accounts, at that point they will pay the cash else they would charge it back Because of the flow of this field. Due to the dynamics of this field, the merchants don’t push their extremes in these accounts. Hence, refrain from being vulnerable by not providing merchant accounts to dating sites

DISAGREEMENT IN STATED SERVICE AND PROVIDE SERVICE

There are two situations. According to the previous record, mostly dating sites that started finding the right match or companion changed into finding an escort or run as prostitution site. This awful nature of this business made it vulnerable to unawareness by the major pool of genuine people looking for dating and companionship.

Because of these two reasons, Merchant account providers refrain from getting engaged in this industry and some of them who do, charge a high expense for these records.

If you have an online dating website? What’s your expectation from Merchant Account providers?

The fact of the matter is obvious that the idea of online dating sites will stay ‘high Risk’ regardless of the possibility that it is creating huge revenue because of its indeterminate chargeback. Subsequently, there are a couple of set of desire to set up which shouldn’t be traded off

LOWER CHARGE FEE

Online Gateway Providers understand the weakness of online dating sites. And, to use the advantage of this situation, they charge more than industry standard cost. Hence, businessmen are not able to generate profits in initial days and also have trouble building up their business.

PAYMENT GATEWAY SECURITY WITH ANTI-FRAUD PAYMENTS

Merchant Accounts have anti-fraud payments and security techniques for other high-risk accounts which must also be provided to dating websites to cut down the major amount of chargeback due to false or fraudulent payments.

About Merchant Account And High Risk Credit Card Processing

The merchant accounts get approval or disapprove from the risk departments. Any business with bad personal or business credit scores, a high chargeback history, a startup, or high frequency or high average tickets can be at high risk. On an individual basis, the majority of high-risk businesses are among such by the industry they operate in. At First American Merchant we specialize in high risk credit card processing and high risk merchant accounts. We work with virtually every business type and any credit situation. We specialize in helping high risk business owners get the credit card processing services they need. We have helped thousands of online and retail business owners get merchant accounts.

Best High Risk Merchant Accounts & Credit Card Processing Options

If your business is part of a so-called high-risk industry, it may be difficult to find quality credit card processing. After sifting through dozens of contracts for high risk merchant account providers and speaking with many sales representatives, we found a good number of companies offer little transparency, confusing and contradictory information and a plethora of hidden fees. We compiled a list of the best high-risk merchant account providers and top high risk credit card processors to help small business owners more easily find options that suit their needs.

The Challenge Of High Risk Merchant Accounts

High risk merchants know that getting the right merchant account is challenging. Not all banks are eager to provide payment processing for industries deemed high risk. In 2001, Merchant stronghold carved its own niche in the high risk merchant services space and has been providing quality solutions since then.

Benefits Of  Merchant Stronghold High Risk Merchant Accounts

• More Acquiring Banking Solutions
• We Work Within the Guidelines of Visa, MasterCard, and More
• 3D Secure – Something to Think About
• Fraud Protection Tools
• Offshore and International Merchant Accounts
• Multi-Currency Processing
• Live Customer Support

High Risk Merchant Accounts

At Host Merchant Services we realize that some merchants fall into “high risk” categories. This means that it can be harder for the business to obtain a merchant account.

But what if you've been categorized as a high risk?

High risk merchants don’t qualify for traditional processing agreements. They're stuck working with acquirers and processors who offer high risk merchant services and are willing to accept liability for the increased risk associated with these businesses (known as a high-risk payments processor). As you might imagine, "high risk" service comes with a higher price tag.

Let’s Understand the High-Risk Merchant

It is difficult to start a business, as well as applying for a merchant account. The merchant accounts get approval or disapprove from the risk departments. While considering the business to be high-risk business or Low-risk. There are few reasons why any business can be in high-risk business.

Why Are Offshore High Risk Merchant Accounts So Popular

Internet was a revolutionary idea and till date, it is evolving. Not only for sending emails or social networking, it has also gained popularity in the field of E-commerce. When we talk about E-commerce, a couple of things strike our minds like credit card processing, data security, merchant account, etc. A merchant account is a necessity to accept card payments online along with reliable payment processors. While setting up online businesses, a merchant also needs to take care of these things but if a merchant is planning to grow his business and want to reach customers around the world, he needs to open an offshore account.

What Is An Offshore Account?

The term ‘offshore’ is basically used to describe banks from countries other than home country or foreign lands. An offshore account is like any other merchant account opened in any country other than merchant’s home country. The main benefits of an offshore account are the security and the option of accepting major currencies. It also helps the merchant in increasing revenue due to tax relaxation, provides greater privacy to merchants and helps in gaining more customers (major currency acceptance).

Why It Is Popular Among Merchants?

E-commerce and offshore accounts are highly linked as merchants, irrespective of their industry types. It aims at attracting a majority of customers and look for maximizing sale to earn good profit. To achieve this, the merchant needs to have a merchant account that accepts the majority of credit cards. But it is not that easy to open a merchant account, as it includes many requirements and lengthy procedures, which is not the case with an offshore merchant account. Most of the businesses like to maintain an offshore account as it provides many financial and legal advantages to its client.

Why Offshore Merchant Account?

Most of the merchants choose offshore accounts over merchant accounts for various reasons. Few of them are listed below:

• Hassle free procedure
• Low taxes/ tax relaxation
• Low initial costs
• International Reach
• Different currencies
• Major credit card acceptance

Why Are Offshore Accounts So Popular?

No matter how small or big business you own, any merchant can get an offshore account. Especially, merchants who are planning to set up an online business, irrespective of their size, prefer offshore account over merchant account due to low initial cost.

Every merchant running an online business wants to hit the international market at a certain point of growth. Offshore merchant account makes the acceptance of various currencies as well as credit cards much easier. Although, merchants who are dealing with local customers with the prime objective of capturing domestic market are not much benefitted by offshore merchant account as compared to the merchant targeting the global market.

Things To Remember

If you are searching for an offshore Merchant account provider, there are many providers available online. But it is completely merchant’s choice to decide which one is better for their business and which one will turn out to be more beneficiary. Making a decision and choosing a suitable offshore account provider is very important because benefits provided may vary from one provider to the other. So take your own sweet time to think, decide and choose the right one to enjoy the benefits of an offshore account.

Questions to Ask When Choosing a Credit Card Processor

If you are running a business of sales and purchases, you need to choose a new credit card processor. But it is not as easy as it seems, it is a big decision to make. Before making the decision, you must know it includes the fee charged and contracts. Also the customer service department and cost-effective tools available. Do the comparison, study the market and then make the final decision. Let us now discuss it further. 3 questions you should ask your new credit card processor before finalizing it:

Structure of Fee Charged

When you opt for such tools, you are charged with a certain amount of fee. But it is important to know what exactly those fees are, more commonly called breakage of the fee. The fact is that most of the high-risk merchants have no idea about the process and end up paying a high amount of fee without actually knowing the hidden high markups in their pricing structure. To process the transaction, an interchange part of pricing structure is paid to the card issuer. Apart from this, there is an extra fee that they put on the top of it to gain more profit. So, when you are applying for new credit card processor/merchant payment processor, request them to separate out the interchange fee so that you can have a clear idea about how much money they are making or charging you in total.

Contract and Time Duration

Whenever a merchant wants to opt for a new credit card processor, he/she needs to sign a contract, which will lock you with them for certain period of time. It is important for high-risk merchants to check for options when shopping around for new processor and also to finalize the processor with shorter time duration instead of multi-year contracts. The advantage of choosing a short-term contract is:

• They will work hard for your business to impress you so that you renew the contract instead of shopping for new credit card processor or merchant payment processor once the contract expires. If you end up signing a multi-year contract, you will soon be forgotten and ignored and service quality provided may deteriorate.
• In case of serious trouble when you have a short-term contract or non-existing contract, immediate help will be provided. Everything to resolve the issue so as to retain you as a customer. Whereas, if you have a long-term contract, it might take longer to resolve the issue you are facing.
• When you are not happy with the services provided by your current credit card processor, you can try out the new processor. They can meet your needs, but if you have a long-term contract, you only stick with the same provider till the contract expires.

Customer Service Department

Efficient and knowledgeable customer service department is like icing on the cake. Get the opinion of the current customers of the credit card processor. Also, find out about their experiences with the customer service department.Look for the processor whose,

• Support representatives are knowledgeable and can tackle any kind of issue if arises.
• Call waiting time is minimum
• Support representative should be able to resolve issues in the first call and in shortest time duration.

If you are lucky enough and end up buying a credit card processor or merchant payment processor for your high-risk business that fulfills all your needs and the fee charged is worth every single penny you pay, hold on tight to it and never let it go. If you are happy with the services provided and a fee charged, it would be a good decision to renew the contract with the same provider than starting the process all over again.

How to Accept Credit Cards with an Online High Risk Merchant Account

Regardless of the size of your business, your goal must be to increase annual sales revenue. For this, you must give your customers more alternative mode of payments. It includes credit card payment, debit card payment, net banking and others.

A Study to know

According to studies, business accepting credit card payment is likely to generate more revenue as compared to others. The main purpose of you being in the industry is to earn profit and credit card is a great mode of payment. So, it is better to get a reliable credit card processing before starting off.

There are many third-party service providers with payment solutions for credit card processing like PayPal, but it comes with shortcomings. But special measures must be taken to provide a secure environment to conduct transactions. Else customers will either drift away or will not come back for another sale, and this will increase abandonment rate and funds paid through check or direct deposit will take days to get transferred. Payment solutions like PayPal are good if merchant needs to handle low-volume sales. But if you are looking for growth, the merchant has to look for alternatives.

What do Business Owners need?

If you want to accept payments through credit card, the first thing that is must is Merchant Account. To carry out online transactions and validate credit card acceptance, a merchant account is mandatory. A merchant account is like any other bank account with a slight difference; it enables merchant/business to accept payment through various means like credit and debit cards. If the merchant has an online merchant account, so this will eliminate the need for credit card processing machine or terminals to accept payments.

Parties involved in merchant account set up process are: 

• The Retailer
• Payment Processor
• Merchant Bank

Three things that every merchant should be aware of when accepting credit card with an online merchant account are discussed below in detail:

ONLINE PAYMENT GATEWAY

A payment gateway is a merchant service provided by e-commerce provider responsible for carrying out transactions or direct payment processing for e-business or retailers. E-commerce transactions (online transactions) are authorized by this e-commerce service (payment gateway). E-commerce service provider can be: 

• Bank
• Specialized financial service provider.

A payment gateway transfers the information between a payment portal and acquiring the bank, where payment portal can be any of the following: 

• Website
• Mobile phone
• IVR machine (Interactive Voice Response)

MERCHANT DISCOUNT RATE

For every payment processing service on debit/credit card transactions, the merchant has to pay. It is a fee imposed on the merchant that he/she must consider while managing overall costing of the business. Merchant must discuss the fee for this service before starting to accept debit/credit card payment. It is basically a card-processing fee that is charged to the merchant. Discount rate includes the following:

• Card processing fee
• Dues
• Assessments
• Markup and network charges

ADDITIONAL FEE

Hence, along with the merchant discount rate, an additional fee is there to the merchant when conducting transactions through an online merchant account. These fees are:

• Statement fee
• Monthly minimum fee
• Authorization fee
• Annual fee
• Chargeback Fee
• Early termination fee
• Customer service fee
• Batch fee (charged when settling a terminal)

13 Tips For Merchants To Avoid High Risk Credit Card Chargebacks

For many small businesses that accept credit cards, chargeback is way costlier but there are ways where you can protect your business against those unfair chargebacks. Before going further, let us understand what is a ‘Chargeback’?

Chargeback

Chargeback happens when a customer after purchasing a product, contact to his/her card issuer to dispute the charges. In simple words, when a customer purchases a product and due to some reason disputes a charge with his/her bank, the money is returned to that customer as well as he/she gets to keep the product. But the bank charges the business owner, from whom the product was purchased. This payment, which the business owner gets to pay to the bank, is called the chargeback.

Here are few tips that can help you prevent chargeback and minimize the time and money spent while dealing with it. Being business owner you should understand that disputes could be considered valid due to many reasons. Customer may dispute charges if:

1. A hacker using the customer’s identity made the purchase illegally.
2. The wrong item was received.
3. The product was adulterated
4. The customer does not recognize the charge on his credit card statement.
5. The customer was billed incorrectly.

LET US NOW DISCUSS FEW TIPS WHICH CAN HELP YOU IN PREVENTING A CHARGEBACK.

DECLINED AUTHORIZATION

If the authorization request is declined once, do not go ahead with that particular transaction instead ask customers to opt for different payment method. Also, keep in mind not to request multiple authorizations for a particular transaction.

AUTHORIZATION CODE

There will be cases when word “Call” is displayed on your terminal while authorization is being checked. At this point call the credit card company right away. The representative will ask you a few questions and may speak to its customer as well. After that he/she may or may not provide you with an authorization code. If the authorization code is provided, record it else request the customer to try a different card.

System not working

There can be cases where a system is not functioning properly or the card is worn out. At this point, you should key-enter the credit card number, and also remember to make an impression of the card for keeping the record. This is important because a customer’s signature is not enough to protect you from a chargeback.

GIFT CARD

Gift cards are unembossed cards and there is no way to take a manual imprint of it. In case customer wishes to pay by gift card it is advisable to ask the customer for a different payment method.

SIGNATURE 

Regardless of the type of the card used for the payment processing, the signature of the cardholder on the receipt is mandatory. This can be used as a proof that the customer made the purchase himself.

SWIPE ONLY ONCE

You should swipe the card only once to avoid duplicate transactions, which can lead to a major chargeback. If such situation arises, write “VOID” in bold letters on the customer’s receipt and tear it in front of the cardholder.

Record keeping: To avoid duplicate transaction chargeback, make sure that you deposit only one copy of sales receipt. Be cautious about recording sales; do not record the same transaction more than once.

CLEAR COMMUNICATION 

Clearer is the refund and returns policy, better will be the communication and it will protect you from chargeback as well. As far as refund policy is concerned, it is better to print it on the receipt directly. If not possible, stamp it near customer’s signature.

Receipt deposit: To avoid chargeback, deposit receipts as soon as possible. Make it a point that all the receipts are deposited within a day or two.

Cancellation request: It is a good practice to honor all customer requests to cancel recurring billing and provide them with a written statement for the same with a date on it. Delay on it can put you at risk for a chargeback.

Unexpected Delay

If, due to any reason, there is a gap between the time payment was made and the time when the product was delivered, it is advisable to inform the customer about the same in written and if possible, also let the customer know the new expected date.

Out of stock: If in case, the product is out of stock or unavailable due to any reason, it is important to intimate the customer about the same and ask them whether they would like to cancel the order or would like to purchase another item instead. Keep in mind that without customer’s permission do not send any substitute product. This will help in reducing chargeback risk.

SHIPMENT

Never deposit the money you have charged from the customer before product being shipped to the customer. Streamline shipping process in order to get the product out to the customer as quickly as possible. There are chances of a customer getting upset about paying before receiving the product.