Continuity Merchant Account
There are lots of business types that require billing customers on a regular basis, for instance, every week, every month, every year, etc. PaySpace offers smart recurring billing that allows you and your customers enjoy frictionless payment flow. All you need is to apply for a continuity merchant account with us. Our services are available for every business, including those that are experiencing problems with getting a merchant account in traditional financial institutions. We have a team of professionals with many years of experience in providing convenient and affordable payment solutions for people residing all over the world and we will gladly help you out with opening a continuity merchant account in a quick way and painless way.
Initial Information about a Continuity Merchant Account
Today, you can find an abundance of different continuity offers on various product types. It is no wonder that they are popular because there are lots of things that people use regularly and it is great when you can just get a product to be delivered at your home on time without bothering with ordering it over and over again. Just from 2014 to 2017 continuity subscription industry increased by 8 times. Even such giants as Walmart and Amazon also jumped aboard starting to offer recurring billing, so it seems like the popularity of such a business model will keep increasing in the future.
A recurring billing type of account allows getting payment for products automatically based on the agreements between a customer and a seller. In this case, the ordered products are shipped on a regular basis unless a customer decides to cancel the order. Usually, a product is delivered at certain intervals and then the payment goes to the seller. It is possible to use different payment solutions for recurring billing, including credit/debit cards, ACH processing, and others.
It is virtually impossible to list all business types that may need to set up a continuity merchant account. Generally, if you need to ensure recurring billing, you should opt for this type of account.
Is It Easy to Get a Continuity Merchant Account?
Unfortunately, setting up a continuity merchant account may be associated with a range of difficulties, particularly, due to excessive chargebacks. In fact, chargebacks are something that you should be aware of because this is what leads many promising businesses to a disaster. In essence, a chargeback is when your customer demands for his/her money to be returned for a certain reason, such as a claim that the purchase was not authorized by the card owner, they never got a product, etc. While it is great that customers’ right are well protected and they can easily get their money back if something is wrong, it is also an option for fraudulent activities.
Moreover, different misunderstandings and confusing situations may lead to chargebacks. Unfortunately, it is not that easy to keep your finger on the pulse to know about each and every chargeback that was taken from your account. Finally, the money on your merchant account may not be enough to cover chargebacks, and in this case, your acquiring bank will have to cover such expenses instead of you and then ask you to for a refund.
Luckily, there are special strategies and technologies that can be used to keep the number of chargeback to a minimum, and PaySpace offer them for you. However, businesses involved in recurring billing may be considered high-risk, and not every bank will be willing to open such a merchant account. This means that you will have to spend lots of time, efforts, and also money to find a domestic financial institution to open such an account. There is a much simpler way to go, and we at PaySpace know what should be done to avoid unnecessary complications.
Reasons to Choose PaySpace
PaySpace offers smart recurring billing technologies, and you can apply for a merchant account with us in an easy and hassle-free manner. We know all the challenging the contemporary businesses have to go through and we have convenient, reliable, and affordable payment solutions for every client.
Using our services, you will not have to worry about getting a payment gateway, providing a high level of comfort and security for your customers, being protected from chargebacks and fraudulent attempts. We will take care of everything to allow you to get payments for your products or services without any problems.
We have partners all over the world and we have the most innovative technologies, so you can be sure that we will find the best solution for you. Thanks to our flexible pricing, our services are affordable for different business sizes and types. You just need to contact us and discuss with us your situation and your expectations so that we could explain to you why setting up your continuity account with us is beneficial for you.