Merchant Accounts for Memberships
Do you dream of starting your own membership club online or in the physical world? Either way, you're definitely going to need the right type of merchant account. We have compiled some information that the owner or operator of any membership website or club is going to want to know about when it comes to this type of business. The good news is that it's quite easy to find a great merchant account provider if you know where to look.
Here is a short list of what you need to think about when trying to go through merchant accounts for membership clubs to find one that will work for your startup or business.
Recurring Payments - Obviously, one of the most important things for any membership club is to be able to accept recurring payments month after month. Some merchant accounts make this easier than others. It's so important for this type of business that you should look into it carefully.
Virtual Terminal - Being able to accept credit card payments - online or in person - is essential for a membership club in any industry. The right merchant account will make your gateway setup virtually pain free. Make sure you find someone who offers no setup fees.
Chargebacks - Another issue that comes up frequently with membership sites and clubs online and in the real world is chargebacks. Some merchant accounts charge a lot for these, so it's important to read the fine print before choosing a company to work with for your payment processing.
Startup Business - If your business is a new startup, you're going to want a merchant account provider that understands your unique wants and needs. Additionally, you want a company that has friendly and professional staff that can fix problems fast if they should arise.
Credit Cards - You'll also want to make sure you can accept Visa, Mastercard, Discover and Amex (American Express) cards. Not all merchant accounts will let you accept payments with all the major cards, so this is something to watch out for when you're deciding which way to go.
Rates and Fees - Last but certainly not least, you'll also want to take a close look at any rates and fees associated with the merchant account. For some high risk businesses (like membership clubs online and offline), the fees and rates can be higher than if you were in a low risk industry.
The answer to this question is going to depend on a number of different factors, but IBI Merchant Services has been the right choice for many businesses in a wide array of industries. We have a lot of experience providing merchant accounts for membership clubs online and offline. If you have any questions, give us a call or send us a message today and let us give you the answers you need to make an informed decision.