Whether you run an inbound or outbound telemarketing company, you have to get your business a Telemarketing Merchant Account. This is because a merchant account will make life much easier for both you and your customers. A merchant account will enable you to receive credit card payments directly from your customers. It automates the entire transaction by receiving and validating the card’s information and also transferring the payment to your account.
But both inbound and outbound telemarketing companies find it difficult to obtain merchant accounts from traditional banks. And even these accounts are offered to them, it is usually at an unfavorable price. At 5 Star Processing, we are specialized in the provision of merchant account services for all kinds of businesses. As a reputable company, we fully understand how your telemarketing business works and what it needs to run smoothly. We offer standard payment processing infrastructure at a very affordable price.
There is a known method used by most credit card processors to evaluate the applications submitted by merchants. It simply involves the process of checking if a business is high-risk or low-risk. Businesses that are deemed to be high-risk do not get their applications approved by banks.
If your application has been denied in the past by a credit card processor, you don’t have to worry because you are now in the right place. We offer specialized services for high-risk companies.
The domestic option is more affordable, convenient, and secured than the offshore option. Hence, a domestic account should be your first choice. But if it isn’t offered to you, you should take the offshore option. An offshore account is readily available and it is a good option if your previous applications have been denied.
There are certain factors you should consider when applying for a merchant account. These factors will tell you if the service provider can meet the needs of your telemarketing business.
The rate of your company’s growth will depend on the number of sales you’re able to make daily. This makes it necessary that your account supports payments from all major cards. So, you must choose a service provider that allows you to receive payments from credit cards such as Visa, MasterCard, Discover, and Amex. Our account services will enable you to receive funds from all credit cards via electronic checks and ACH processing.
Another essential detail that you should look out for is how your service provider plans to assist you in dealing with chargebacks. The unpredictable nature of the telemarketing business guarantees that chargebacks will occur frequently.
The merchant account offered by your service provider must have a recurring billing feature. As a telemarketer, there are times when you will have to sell a product or a service to a client severally. With recurring billing, you won’t have to call such a customer repeatedly for billing.
We have gathered years’ worth of experience from offering merchant account services to both inbound and outbound telemarketing companies. We will provide you with all the support you will need to run your merchant account effectively and efficiently.