Offering a free trial account can be an extremely useful tool when it comes to marketing your service and drumming up potential business. Since this strategy requires the company involved to boost sales through upselling and recurring payments, it can be subject to many instances of buyer remorse and late cancellations. These make it an inherently risky business proposition but fear not. It can be pulled off by having a trusted and secure partner by your side.
As noted previously, a free trial merchant account can prove extremely useful to get new users onto your platform and begin using your service. It is a hallmark of businesses that are heavily invested in a growth cycle and can be a little risky, however, the reward of gaining new customers can be well worth the price of the initial negative situations that occur as a result of using this strategy. Unfortunately, many banks and processors tend to shy away from this type of strategy solely due to the number of chargebacks from current subscribers and customers.
Despite the negative feelings you might be receiving from banks and card processors, at the end of the day, having the ability to process credit cards on a recurring basis is most likely extremely important to the day to day operations of your business. We at High-Risk Payment Pros understand the specific issues that you are facing and are excited to help you get back on track generating greater revenue through your business as soon as possible
Choosing the right processing provider or bank to partner with when planning out the strategy for your Free Trial Merchant account is an extremely important step that should not be overlooked. Going with a provider that is not comfortable with this business model can spell disaster for your company. Banks that don’t understand what you are trying to do be profitable could shut down your account because they have experienced the risk first-hand previously. This can lead to time spent looking for other providers which can impact the bottom line of your business. Instead of worrying about getting new clients, you are worried about finding a banking partner that can help you process recurring payments! Going with a company that understands the nuts and bolts of this strategy can generate success that will lead you soaring over your competitors.
Unfortunately, banking and processing partners tend to be a bit short-sighted on which business to partner with. This means that they are more comfortable with companies that generate an immediate profit they can take a quick percentage from. This can run antithetical to Free Trial Offer Merchants that rely on upselling their subscriber and customer bases and use recurring payments as a significant strategy in their day to day business operations. Additionally, most processing and banking partners do not offer or simply don’t have the flexible payment options that would be necessary for Free Trial Merchant accounts. This can be a failing of their systems that don’t have the financial security backing to support free trial offers. While they are accepting of traditional businesses that don’t run on this subscription model, they can be suspicious of free trial account offerings leading to their classification of businesses that use this as “high risk”.
High-Risk Payment Pros makes getting approved for a travel merchant account fast and easy. Just fill out our simple form to get started by clicking here.
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Thanks to our years of experience working in the free trial space, we understand what it is like to work with high-risk merchants. Unlike other banking and processing partners, we can offer you the payment flexibility and financial security that running a recurring payment subscription model dictates. Instead of worrying about appeasing your financial processor, you should be focused on growing your business and investing in what will take you to the next level. We understand this and that is why we have made it our mission to free you up in order to do this.