Providing educational seminars and consultations has become a popular business for educators and professional experts alike. Many people nowadays are hungry for knowledge in any given industry or sector, and seminars are a great opportunity to further gain this knowledge and grow. Unfortunately, when it comes to securing the proper payment processing for the businesses that provide these seminars and consultations, many companies may find banks and other typical payment processors are weary of partnering with them for debit and credit card processing, among other payment solutions. When this happens, turning to a high-risk payment processing company like USA Payments is the right way to go! Are you in need of an educational seminar merchant account?
Why is My Educational Seminar and Coaching Company Considered High-Risk?
Online coaching is expected to grow to a value of about $11.7 billion by 2032. Because educational seminars are so in-demand by audiences eager to learn, this bustling industry is not going anyway anytime soon. However, if you are a business that provides educational seminars or other types of consultations, you can expect to run into some problems when it comes to payment processing solutions. You may wonder, why is payment processing hard to obtain for your company?
This is due to the fact that educational seminar businesses are considered high-risk by banks and other traditional payment processing platforms. A high-risk merchant is one that is considered especially risky to work with for banks and other financial institutions due to an increased chance of issues, such as chargebacks and fraud. As a business that provides educational seminars, coaching, and similar services, you may be considered high-risk due to:
Excessive Chargebacks
Many customers go into educational seminars and similar services with high expectations. If a client feels they did not learn what was promised or felt the seminar was misrepresented, they may file a chargeback with their bank to get their money back. The success of educational seminars and other related coaching can often determine the amount of chargebacks, and the risk is just too great for many banks and other payment processors.
Larger Transactions
Compared to other services and products, educational seminars and coaching or consultation services will often have larger transaction sizes. Typically, it is expected that the price of an educational seminar can run anywhere from $100 and over per person. The higher the amount of the transaction means a substantial loss when it comes to the possibility of chargebacks from customers who weren’t satisfied or simply want to regain the substantial amount back.
Multiple Purchases for One Event
Because many people attend a seminar event, this means a large number of higher-priced transactions. Most importantly, these transactions are often completed weeks to months in advance, which can leave a bigger window of time for chargebacks to be requested. It is no secret that with a substantial amount of purchases there are higher chances of a few of these purchases dealing with fraud or chargebacks. The fact that this many purchases are usually completed through the phone or online can also leave many banks and financial institutions weary, as these faceless transactions may also result in instances of fraud.
What Benefits Can the Right Payment Processing Solutions Bring an Educational Seminar and Coaching Business?
If you are an educational seminar business, having the right payment processing solutions can completely get rid of the hassle of having to deal with restrictive payment methods. Not to mention, in this current age, many customers are forgoing the use of cash in favor of debit card, credit card, or other mobile payment options. Your educational seminar or consultation business can enjoy a variety of benefits when you obtain the proper custom payment processing solutions. The merchants who work with USA Payments gain access to large number of benefits, such as:
- Being able to process all the card types at the lowest interchange rates available
- No surprise hidden fees or service fees
- Point of sale solutions
- Virtual terminal solutions, including recurring billing and PCI compliant processing
- Mobile solutions that are compatible with Apple and Android devices
When it comes to your educational seminar company, you want to have the most appropriate payment solutions to be able to process transactions throughout the country, as well as establish a point of trust and security with your customers. While traditional banks and other financial institutions may deny your merchant application, there are other options. Working with a high-risk payment processing company can be the best choice!
What is a High-Risk Payment Processor?
A high-risk payment processing company is used to working with businesses in high-risk industries, such as educational seminars and coaching. This payment processor works specifically with merchants in these industries to ensure they are able to access a number of custom tailored payment solutions for their business. Working with a high-risk payment processor also ensures you don’t have to worry about the potential risk of having your merchant account flagged, frozen, or terminated at any given time! Are you interested in consulting with a high-risk payment processor to push your business into new successful territory? USA Payments can help!
USA Payments is a Top High-Risk Payment Processing Company Providing Custom Tailored Solutions!
At USA Payments, we don’t see the risk of working with high-risk merchants. In fact, we strive to provide U.S.-based businesses with the helpful payment processing solutions they need in order to reach a larger customer base and continue to build revenue and profit! We provide our partnering businesses with a variety of the payment solutions they are looking for, with added wholesale pricing and transparency when it comes to fees. We believe in giving businesses the freedom they deserve when it comes to their payment options, without having to pay more money out of their own pocket!
Our team of educational seminar business specialists will connect with merchants who fill out our merchant account application. We look forward to connecting with small and large businesses alike in order to see how our team can best help them achieve their goals. As long as our merchants keep their chargeback rates under 3%, the experts at USA Payments will handle all matters of payment processing in order for businesses to get back to what truly matters in order to thrive!
Start Your Educational Seminar and Coaching Merchant Account Application Today!
Companies dedicated to providing individuals with educational seminars and other similar businesses are often deemed high-risk by banks and similar financial institutions, which can make it harder to obtain the necessary payment processing solutions they need. However, this doesn’t mean the appropriate solutions are impossible to achieve! Working with a high-risk payment processing company can help push your organization into further success with the right payment solutions! Connect with a high-risk payment processing company like USA Payments!
USA Payments is completely dedicated to helping high-risk businesses succeed and further open up their business operations. Are you interested in getting started on your merchant application in order to acquire credit card processing, mobile payment solutions, and other services that will help your business grow in revenue and profit? Contact USA Payments now to get started today! We provide American businesses nationwide with credit card processing and more, with no hidden fees, which is to us the ultimate American dream!