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Continuity Merchant Account Providers

Our Top Picks for The Best Continuity Credit Card Processors

  1. Easy Pay Direct
  2. eMerchantBroker
  3. PaymentCloud
  4. Helcim
  5. Mynt POS

1. Easy Pay Direct

Easy Pay Direct works well with high risk and e-commerce merchant processors. They will customize their services in order to fit your individual needs. EPD has served 60,000 different businesses. Easy Pay Direct was designed to make your life easier. With EPD you can accept payments online, in store, or on any mobile device.

2. eMerchantBroker

eMerchantBroker specializes in high-risk businesses and they have a chargeback dispute resolution and prevention program. EMB can get you signed up today with some of the most competitive rates in the business. Whether you are a low or high risk business, through EMB you could get approved for an account today. They consider themselves to be high risk merchant account specialists. EMB is a full service provider.

3. PaymentCloud

PaymentCloud works best with small businesses with specific needs. They will customize their services in order to fit your specific needs. PaymentCloud accepts payments in store, online, and on any mobile device. They will also help you protect your business against chargebacks and potential fraud. PaymentCloud is your full suite merchant provider.

4. Helcim

Helcim has amazing customer service and will go above and beyond to deliver you the services you need. They offer flat rate pricing with no hidden fees. With just one free Helcim account you get unlimited access to all of the tools you need for seamless transaction processing. With Helcim there is no monthly fee. Helcim is known for working well with small businesses.

5. Mynt POS

Mynt POS will accept all forms of modern payments in order to deliver seamless payment processing for your business. Each Mynt subscription comes with a lifetime warranty and free support. Mynt also comes with free installation support and training. Mynt has everything you need for your point of sale. Mynt is optimized for your business.

Businesses based on continuity/subscriptions are becoming increasingly popular. It outperformed both the retail sector and the S& P 500 over the last decade. From meal kits delivered to your door to music streaming services, everything can be designed with the long term in mind. In recent years, businesses in the automobile and health and wellness industries have also shifted to subscription-based models.

A credit card processing company is responsible for charging customers' credit cards on a recurring basis. This service can make it easy for customers to obtain goods and services on a consistent basis while also providing a consistent source of revenue for the company. You can accept credit card payments in addition to performing other functions when you work with a credit card processing company.

What is Payment Processing for Continuity Subscription Businesses?

It makes no difference if your company registers customers in person, online, by mail, or by phone. When you want to bill them in the future, you'll probably want to charge these payments automatically to their credit cards. You can accept credit cards and earn money by using a payment processor. Your business can accept the following types of payments if you have a merchant account with a payment processor:

  • Digital wallets like Google Pay and Apple Pay
  • All major credit cards including Discover, American Express, Mastercard, and Visa
  • Mobile payments
  • eChecks and ACH payments
  • Contactless payments

Deliberating on your options and selecting a payment processor with experience in the continuity subscription space will help you develop a long-term relationship with your processor.

Why are Continuity Businesses Considered ‘High Risk’?

Each payment processor develops its own set of criteria for determining what constitutes a high-risk business. Several factors contribute to the riskiness of a business:

  • Large sales volumes
  • A high proportion of card-not-present transactions
  • Industry experiences higher than average risk for fraud
  • Industry experiences higher than average rate of chargebacks

Because subscription charges are typically made without the presence of a credit card, the processor assumes significantly more risk than other businesses. A customer may also cancel their subscription after a charge and request a refund, or they may file a dispute with their credit card company.

As a result, chargebacks are more common in this industry than in others. This is why banks and credit card processors despise continuity companies.

What Does Being High Risk Mean for Credit Card Processing?

While learning that your company is in jeopardy can be terrifying, there is still hope. There are numerous credit card processors who have extensive experience working with this type of business. If your business entails a high level of risk, you'll need to find a processor who can handle it. You will pay a higher processing fee as a high-risk business.

Additionally, your credit card processor may request additional documentation during the credit card application process.

Then you may be asked to provide bank statements or tax records demonstrating how you conducted business in the past. Furthermore, if your account becomes too large for them to handle, your processor may keep a cash reserve to cover chargeback costs. Before agreeing to anything, consult with your payment processor about high-risk accounts.

Things to Consider when Choosing a Continuity Credit Card Processor

With so many payment processors to choose from, it can be difficult to find the best one for your company. The more you know about how to find a compatible partner, the more confident you will be in your ability to do so.

Rates and Fees

When choosing a payment processor, this is frequently the first consideration. Naturally, you want this service to benefit and enhance your company rather than harm it. Because of the inherent risk, continuity businesses will face higher rates and fees, as previously stated.

Because your subscription business will most likely have a large number of pre-determined transaction amounts, there will be much less room for price changes than in other businesses. This is advantageous because you will now be able to more accurately estimate the cost of processing.

Payment processors typically charge in one of the four ways listed below:

  • Interchange-plus: A small markup and a percentage are also included in the bill.
  • Flat-Rate: Establishes a fixed percentage and charges a small markup on each transaction. Your bank statement will not show any exchange fees.
  • Tiered: Transactions are divided into tiers based on a variety of factors, with each tier charging a different rate. 
  • Subscription: Businesses pay a monthly subscription fee as well as a small transaction fee. No such thing as a percentage rate exists.

Your payment processor can help you determine the best method of payment for your business by looking at how much money you've made in the past. Payment processors charge additional fees that should be compared in addition to transaction fees. For businesses that have been in operation for a long time, being aware of chargeback fees is critical.

High-risk businesses may be required to enter into a payment processor agreement for a set period of time. Ascertain that you understand the length of the term and any fees associated with canceling before the expiration date. Credit card processors should provide you with a list of all applicable rates and fees so you can compare them.

Security and Compliance

You will frequently be required to keep customer credit card information in a continuity business. Despite the fact that cybercrime is becoming more common, the possibility of your company being hacked is still a bad thing. Ascertain that the processor you choose takes security very seriously in order to protect your company and your customers' data!

The Payment Card Industry Security Standards Council establishes a set of minimum security standards considered best practices each year. Failure to follow these rules may result in financial loss for your company. A company must follow certain rules in order to be PCI compliant. Among the many good practices that contribute to compliance are the following:

  • Regularly updating antivirus software
  • P2PE (Point to Point Encryption)
  • Maintaining a secure network

Inquire about your credit card processor's PCI compliance status and any additional security measures they may employ to protect your data.

Value-Added Features

Credit card processors may also provide digital tools that can help your business grow and are included in the processing fee.

Customer Management

The majority of credit card processors provide online tools to help you keep track of your customers. This allows you to quickly obtain and examine customer data. The majority of processors can integrate with your existing customer management system.

Do not re-create a database on which you have spent a significant amount of time and effort. Check to see if your current system is compatible with the new one and can be imported or integrated.

Customer Portals

Furthermore, some credit card processors provide tools that allow your customers to manage their own money by allowing them to view their own accounts via a web-based customer portal. In this case, customers would be able to update their payment information, delivery information, and other preferences at any time.

Because the client would be able to make their own changes, this would result in fewer customer service calls.

Data Analytics

Your transactions can be analyzed using the power of technology. You can examine your sales data using reporting tools to see if there are any trends that could help you make future business decisions. You can, for example, calculate the percentage of customers who do not renew after their initial subscription cycle.

This will help you determine the number of new customers needed to keep your business profitable. The majority of digital tools include robust reporting capabilities that can reveal previously unknown information about your business. This can help your company's growth.

Chargeback Prevention and Resolution Programs

Certain processors have developed strategies and programs to reduce the number of expensive chargebacks. Chargebacks can be expensive and damaging to a merchant's business. Selecting a credit card processor that includes some type of program for you to use is the most secure method of protecting your business.

For example, if there is a dispute, a processor may notify you immediately. This may allow you to contact the customer and resolve the problem before it worsens.

Furthermore, security measures can be put in place to prevent fraudulent transactions, which could result in disputed charges. Discuss what services your credit card processor can offer to keep your company from having to repay money that is not yours.

Additional Considerations

Choosing a processor is more difficult than the previous items. You may also want to consider customer service and a company's reputation when conducting your research.

Customer Service

If your payments fail to process, you'll want to seek help as soon as possible to resolve the problem. Select a payment processor who will help you in times of need. While some processors' employees can seek assistance at any time, other processors' employees can only seek assistance during business hours. This may appear insignificant until you require assistance and are unable to obtain it.

Choosing a processor that can help you when you need it will give you peace of mind and help your business run smoothly.

Reputation

Many payment processing companies claim to specialize in high-risk businesses, but they are not all the same. You can perform a quick internet search to see if anyone has written about the processor. These reviews may reveal information about the company that you were previously unaware of, or they may cause you to reconsider doing business with them.

In addition, the Better Business Bureau is a useful resource. It is possible to see if the company has recently or previously received complaints, as well as how those complaints were resolved. You can also see how long the company has been in operation.

Choose a business that has been in operation for a long time. It would be extremely disappointing to go through the process of opening a card processing account only to discover that the company has gone out of business. Another way to ensure you conduct the necessary research is to select the best processor for your business.

Final Thoughts

When choosing a credit card processor for your business that accepts credit cards, consider a number of factors. Being in a high-risk industry necessitates additional considerations. Check to see if the payment processor you choose has competitive rates and fees for your business.

Small changes to these amounts can add up over time. Individuals who use credit cards should make certain that their payment processor is PCI-compliant. If two payment processors offer comparable rates, consider what additional features the processors can offer to benefit your business.

Payment processors provide tools to help you run your business more efficiently, such as customer management, data analytics, and customer portals. Their employees might also be able to help you avoid chargebacks or fraud.

You can earn more money by taking advantage of these features, which benefit your bottom line and are included in the processing fee. Choose the processor with the more useful features if you have a choice between two.

It is critical to carefully read any contract before signing anything to ensure that you understand what you are agreeing to. Credit card processing is essential for any business, and taking the time to research and compare various options will pay dividends in the long run.

Check out our top choices for the best long-term credit card processors:

  1. Easy Pay Direct
  2. eMerchantBroker
  3. PaymentCloud
  4. Helcim
  5. Mynt POS

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