How to open a free trial merchant account
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A Trial Offer Merchant Account Solution
What Is a Free Trial Merchant Account?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
Was Your Free Trial Merchant Account Shut Down?
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.
Why Are Trial Offer Merchant Accounts High Risk?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".
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