Searching for a MLM merchant services to accept credit cards?
Multilevel Marketing (MLM) business merchant accounts to accept credit cards can be tough for many other merchant service providers. Thankfully, Bankcard International Group (B.I.G.) has decades of experience in working with the MLM industry. Our powerful banking relationships both domestically and internationally are happy to work with your MLM business. We understand the complex nature of your business and provide merchant accounts to accept credit cards as unique as your business opportunity. We know it takes a lot to manage recurring billing from your associates, product sales, and sales at national conventions so Bankcard International Group is here to make it easy. Our world class MLM merchant services are guaranteed not only to have the most competitive rates but to back those up with amazing service so you can focus on growing your organization.
At B.I.G. we don’t look at your MLM organization as high risk but rather a high priority business that deserves the absolute best. We are here to fulfill that need.
Whether you are getting started or simply looking for a more efficient and service oriented merchant account provider Bankcard International Group will help maximize your bottom line.
Why are merchant accounts to accept credit cards difficult for MLM Businesses?
The MLM Industry is still haunted by its business history. At one time the MLM industry was wrought with rampant fraud, chargebacks, and deceptive business practices. Although there are still a few bad apples out there we know that this is now the exception and not the rule.
We know the feeling, the same could be said for high risk merchant account providers! There always have been and, unfortunately, may always be some service providers who are only focused on their bottom line. They prey on businesses who have become desperate for merchant services, set them up with deceptive rate plans, and then disappear. Because of this - it is of the utmost importance that you know and trust the merchant account provider you are working with. Be sure to ask plenty of questions and get the important answers in writing before you sign anything!
B.I.G.’s MLM Merchant Services are unique in many ways
- Rates - We provide unbeatable rates! We have an in depth understanding of your business model and the experience of working with the MLM industry for payment processing. We know how to get you the best merchant account rates possible.
- Accept Mobile Credit Card Payments - This means you will be able to accept payments in person from your customer’s mobile device. This “tap and go” functionality is more important than ever in today’s world. It also means that you will be able to set up shop just about anywhere!
- Virtual Terminal - Prefer to accept payments on your computer or mobile device - no problem! Our virtual terminal will give you the power and flexibility to accept payments anywhere, now and into the future.
- Accept credit cards online - Today, having an online presence to not only attract and sign new partners but to sell your products directly is essential. We make integrating your website a breeze with our powerful secure gateway and simple plugins or flexible APIs.
- MLM Secure Payment Gateway - We provide you with a Level 1 PCI-DSS certified gateway that fits all the needs of the MLM industry. This means that our gateway exceeds the most stringent standards for security to protect not only your business but your customers and partners.
- Bulk Processing - Many MLMs need to be able to process large “batches” of transactions in one fail swoop. Our bulk processing feature makes this a simple task. Efficiently process large files of transactions through batch uploads.
- Accept eCheck or ACH - Save money and increase your bottom line by processing your recurring transactions or even one off sales via ACH or eCheck. This efficient option is not only a lot more affordable but it is secure and fast.
- Chargeback Prevention Program - Our optional chargeback prevention program allows you to be notified of a pending chargeback before the bank sees it. This gives you valuable time to settle or straighten out the dispute before it becomes a chargeback!
- Fraud Protection Built In - With our optional fraud protection you can customize a massive set of rules & filters. This will help your business automatically identify good orders while declining ones that are suspected or certified as fraudulent. These questionable transactions are set aside for manual review. Giving you full control over your business.
- Recurring Billing - Where would MLM be without recurring billing? We know you cannot survive without it. Our recurring billing is intuitive and easy to manage - it will even alert you when a card is about to expire so you’ll never miss a sale!
- World Class Service - We’ve been around a long time and our focus has always been on the success of our merchants. Without great, personalized service we could never have earned the great reputation we have. We’re putting the service back in merchant services!
Getting Approved for a MLM Merchant Account to accept credit cards
Getting approved for a MLM merchant account doesn’t have to be a headache. As a matter of fact it is fairly straight forward. However, you should be ready to provide a fair amount of information. Some of this information is to comply with Federal regulations such as the Patriot Act. While other information is to show that your operation works within the constraints of regulations. Remember, the more information you provide, the more ammunition we will have to show how great your business is. This means we will be able to negotiate the best possible terms for your account. Be prepared with:
- A clean social media and online dispute presence. This is not only good business it shows that you are a responsible business owner. Make sure to respond to all questions or disputes (good or bad) with a resolution. Interact with your followers and their comments. Of course there are always negative reviews - don’t worry about that simply give your most professional response.
- Bank Statements. Be prepared with up to 6 months of bank statements for the business (if not available you may be asked for personal statements and or tax returns). These help the underwriting team verify the volume of the merchant account for approval.
- 3-6 Months of payment processing statements. This will help to show that your operation has either a positive or a negative processing history. If your business does have a large amount of chargebacks we can use the processing history combined with your business practices to show how you are going to address that issue.
- Executive Summary. While not generally a required document this will help to get your account approved quickly. The summary should include information on how you will address legal and regulatory issues as well as touch on marketing and how the business will grow.
- Proof of Domain Ownership. A simple screenshot from your domain provider showing both the name of the domain and the name of the owner (in one shot) will suffice. This is to help fight against fraudulent merchant account applications.
- Articles of Incorporation. Original articles of incorporation for obvious reasons.
- SS4 Letter from the IRS. This one is a little less obvious and not always required, however, does make it easier and quicker for underwriting to cross check that the corporation and its owners are legitimate. If you don’t know the SS4 letter is the letter that was sent to you when you were assigned your EIN.
- Copy of driver's license or passport for all owners with more than 20% interest in the business.
- Utility bill for the business with the physical address on it.
- Voided check or a Bank Letter for the businesses Demand Deposit Account or DDA.
Once you are approved for your merchant account we will issue you the MLM Secure Gateway and you are off to the races with a company you can depend on.
B.I.G.‘s extensive experience working with MLM merchants to accept credit card payments allows us to provide you with the best possible rates and service when it comes to accepting credit cards. We are here to help you succeed. Give Bankcard International Group a try - you’ll be glad you did!