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MLM Credit Card Processors

Over the last few years, the multi-level marketing industry has exploded in popularity. Every year, an increasing number of MLMs are founded. If your company is an MLM or is just getting started, you will need credit card processing services to accept and process payments. Your company operates in a high-risk industry, but not all payment processors will accept it. Some people, however, will. The best MLM credit card processor for your needs exists, and we want to help you find it.

Our Top Picks for The Best MLM Payment Processors

  1. Easy Pay Direct
  2. PaymentCloud
  3. eMerchantBroker
  4. Dharma Merchant Services
  5. Helcim

1. Easy Pay Direct

Individuals who work for this company specialize in working with high risk online businesses, as do the majority of MLMs. MLMs are considered to be high risk because they are categorized as "direct sales". They also often run into issues with chargebacks and fraud. Luckily EPD will offer them protection against those potential cases. EPD will offer you payment processing equipment that is easy and safe to use for your business.

2. PaymentCloud

PaymentCloud offers customizable services to tailor directly to your business needs. Account representatives are available to all customers. They assist them throughout the entire startup process and beyond. You will receive protection against potential chargebacks and fraud. They work with low, medium, and high risk merchant accounts.

3. eMerchantBroker

Can be of service MLMs accept ACH and echecks as non-credit or debit card payment methods. They consider themselves to be high risk merchant account experts. EMB can get you approved in a day for a low or high risk merchant account. If your business has unique needs such as being an MLM, EMB has unique solutions for your business.

4. Dharma Merchant Services

Dharma offers great rates with exceptional customer service. They offer 24 hour priority funding along with 24 hour on call customer service. You will also be given the opportunity to pass 100% of credit card processing fees to credit card paying customers. As an MLM it is important to have a transaction processing service that works great so you can get paid.

5. Helcim

Helcim gives you the opportunity to feel good about the payments you are processing. They offer 100% transparent transaction processing. As an MLM it is important for you to be able to keep track of your payments, Helcim helps you do so. They work well with small businesses such as MLMs. They offer amazing 24 hour customer service so all of your questions will be answered whenever you have them.

What is MLM Payment Processing?

It is very common for an MLM business owner to conduct the majority of their business online. Customers will be able to pay with credit cards, debit cards, and other electronic payment methods when they purchase items from them.

These businesses can accept payments in a safe and secure manner thanks to MLM payment processing. As a result, they are in a position to do so. However, this is not the entire picture. Payment processing is only a minor aspect of it. You'll need to work with a merchant services company if you want to sell products through a multi-level marketing company and be compensated for them.

Why do MLMs Need Merchant Services?

The term "merchant services" refers to two distinct aspects of payment processing: merchant accounts and credit card processing. A merchant account is similar to a bank account, but there are several differences. Once a payment is made, it resembles a money tank.

Any transaction fees or other charges are deducted from the balance once a payment is made into the merchant account, allowing the merchant account to be used. That is where it is delivered. The money is then transferred to the company's bank account.

Credit card processing is divided into two steps: obtaining payment authorization and depositing funds into a business account. MLMs would be unable to accept any form of payment other than cash, such as checks, if merchant services were not available. That is not a good idea because the vast majority of transactions are done online.

Options for MLM Credit Card Processing

Individuals can be paid by MLMs in a variety of ways.

An Integrated Payment Gateway

MLMs necessitate the use of payment gateways. This is the software that communicates with the shopping cart on the website. Payment gateways are frequently encountered when people shop online.

Customers should be able to check out quickly if your payment gateway is simple to use. They will handle everything for you, from payment approval to ensuring funds are received in your business account. Everything will be handled behind the scenes by the credit card processor.

A Mobile Card Reader

While mobile card readers are not required for MLMs, they are useful for individuals who run their own businesses. If you give your IBOs a mobile card reader, they can accept payments in person no matter where they sell their products. They are the most efficient way to promote your company at trade shows, community fairs, and other events. Mobile card readers are simple to use and work in the same way as small point-of-sale systems.

Virtual Terminal

Will your multilevel marketing company be able to accept phone orders as well? If this is the case, investing in a virtual terminal is a wise decision. A virtual terminal is nothing more than a payment processing website. It is possible to train your customer service team to use it in this manner. It works with any device that has a web connection. You will also most likely receive a large number of phone orders.

Customers may wish to place an order through your MLM's chat feature, so make sure you have one! Individuals who run businesses must be able to accept payment for these kinds of orders. This can assist you in distinguishing yourself from the competition.

What’s the Difference Between a Merchant Account and a Payment Aggregator?

MLMs are disliked by payment processing professionals because they can be extremely risky. Payment aggregators like Stripe and Square almost never work with businesses they deem too risky. However, some people do, and they should be considered. Customers in MLMs are frequently able to dispute charges and obtain a refund. This is due to the fact that MLMs are notorious for having high chargeback rates.

Individuals who work for businesses may have their accounts frozen if this happens with a payment aggregator. They run the risk of losing their ability to process payments and being unable to obtain funds for months at a time, which would be disastrous.

To avoid this, you'll need a merchant account, which reduces the likelihood of something like this happening significantly. Alternatively, while some MLMs may be able to collaborate with payment aggregators like PayPal, this should not be their sole mode of operation.

Questions to Ask Before Deciding on an MLM Credit Card Processor

It's understandable that you want to start accepting payments as soon as possible. Because not all processors are created equal, you should think about this before making a purchase. Before signing a contract with a company, it is critical to consider all relevant factors!

Do You Process Payments in Multiple Currencies?

Even if you start in the United States, you can expand your MLM business. You should be able to accept a variety of currencies if you want to. It is not available from all credit card processing companies. Even if you aren't ready to do it right now, working with a company that will allow you to do so when the time comes is advantageous.

Do You Offer Load Balancing?

Because of the way most businesses are structured, the MLM industry is prone to chargebacks, as previously stated. If you receive an unusually large number in a short period of time, you may quickly find yourself on the MATCH list. This means you will no longer be able to accept credit card payments.

A technique known as "load balancing" is used to protect you. Several merchant accounts are used instead of a single one for depositing funds. If one of your merchant accounts receives a large number of chargebacks and must be frozen, you will not lose all of your company's funds because there are several.

What is Your Fraud Prevention Like?

As a result of fraud, many people's identities have been stolen or their credit card information has been compromised. To avoid problems like this, work with a payment processor that has strong fraud prevention measures in place. Inquire about it and see if they have ever had any problems with it in the past.

What are the Contract Terms?

Before doing business with any company for which you work, you will be required to sign a contract. Before you do so, read it carefully and ask questions if you don't understand any of the words. It is critical to know how long the contract will last and when you will be able to cancel it if necessary.

Assume your contract is for three years. If you want to cancel your contract, you must do so at least 60 days before it expires. Then it's possible that it's too late. Furthermore, what happens if you decide not to attend? No, it doesn't. These fees can occasionally exceed $500-1000. If there is something in the contract that you do not agree with, you may be able to change it. However, do not sign anything until you have thoroughly investigated it.

What Forms of Payment Can I Accept?

It is critical to respond to this question. The greater the number of payment methods you accept, the better. While the majority of people use a credit or debit card to make purchases, not everyone does. True, some people prefer electronic checks or may want to set up ACH payments. You want to give your customers choices.

Please also consider adding mobile wallet payments. These payment methods are becoming more popular. You should make them available to visitors who will be purchasing items from your site as they become more popular. 

How to Choose the Best MLM Merchant Services Provider to Meet Your Needs

Check to see if the company you're considering has experience working with MLMs. They are highly unlikely to do so. They will be unconcerned about your company, and you may not receive the best service. Furthermore, before deciding to work with a payment processor, you should read the reviews for that payment processor. What did other companies think of their collaboration with that company? Whether favorable or unfavorable: Were their experiences favorable or unfavorable?

Finally, look for any hidden fees or other ambiguities in your contract. In exchange for their assistance, certain processors will attempt to overcharge businesses like yours. Any company you do business with should be able to answer all of your questions. Even if you inquire several times, the company should be happy to oblige. Individuals on the sales team should provide excellent customer service right away.

Pro Tips on Choosing an MLM Credit Card Processor

Customer Service

Finally, it doesn't matter which MLM payment processor you use. Issues may need to be resolved at some point. This could be the reason a customer has trouble using a credit card or a payment fails to go through properly. This is understandable.

However, if something goes wrong, you'll want to know that your processor's customer service department can help you get the help you need. As a result, your customers will be able to shop with you 24 hours a day, seven days a week.

It's a good idea to work with a company that provides customer service 24 hours a day, seven days a week. Some will even put you in touch with your own account representative to ensure you get the best service possible. This allows you to quickly resolve any issues that arise before they become out of hand.

Growth Potential

With luck, your MLM company based in the United States will soon be able to operate on a global scale. Consider what you can do now to be ready for when that happens. You must work with an MLM merchant service provider who can grow alongside you.

Is the company able to accept funds from other countries? What about additional funds? Is there a type of credit card that isn't accepted in the US? It will become critical for you soon. The last thing you want is for them to charge you a fortune in order for you to cancel your service and avoid paying for it in full.

The Underwriting and Approval Process

After you've decided on an MLM credit card processor, you'll go through an underwriting and approval process. As a result, your business plan's approval may take a few days or even a week. We kindly request that you be patient. We'll be more likely to approve your loan if we have as much information about you up front as possible. Provide them with the following:

  • Copies of your business bank statements, if you have them
  • A completed application for services
  • Copies of your personal bank statements
  • A copy of your ID
  • Copies of your business licenses
  • Any information you can provide about your payment processing history

It's a good idea to have your MLM's website up and running before applying for payment processing services. The underwriting department will want to know if they are dealing with a legitimate company and will inquire about it. If you use a payment gateway, you may be able to accept payments as soon as your account is approved. In most cases, integrating with your shopping cart software is a simple process.

Our Recommendations for the Best MLM Merchant Services Providers

  1. Easy Pay Direct
  2. PaymentCloud
  3. eMerchantBroker
  4. Dharma Merchant Services
  5. Helcim

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