Looking for a Background Check Merchant Account?

The main reason to make sure you have the right background check merchant account payment processing for your business is to avoid the chances of your merchant account being shut down. The bank can close your account and hold funds, often without notice. This means you have no way of selling your services, it stops all cash flow entirely, and the money from the background check merchant account services you sold could be held by the banks for several months.

When you start off with the right background check merchant account, you increase the longevity and sustainability of your merchant account. The bank’s underwriting or due diligence does not end after the account has been opened. There is ongoing risk monitoring through bots and web crawlers and even mystery shoppers that is associated with all merchant accounts. So, if a background check merchant account has been opened and the business model is deemed high risk after the fact, expect the account to be closed quickly. However, starting out with the right background check merchant account betters the odds that the acquiring banks will be more lenient and thus allow your merchant account to opened for much longer and be more stable for you.

Additionally, if a customer requests cancellation of a recurring transaction that is billed periodically (monthly, quarterly, annually) from your background check merchant account, always respond to the request and cancel the transaction immediately or as specified by the customer. If not, you may fall subject to a credit card chargeback, advise the customer in writing that the service, subscription, or membership has been canceled and be sure to be clear of the effective date of cancellation. Failure to respond to customer cancellation request can lead to a chargeback.

How Can Double Helix Processing Help with Your Background Check Merchant Account? As the world gets increasingly cashless, offering your customers an alternative to cash or check is paramount to your business’s success. Some benefits of starting a high-risk merchant account would be:

• Improved cash flow.
• Capability to accept recurring payments for services for ongoing subscriptions (monthly, quarterly or yearly).
• Increased earnings.
• Avoid possible losses from bounced checks.
• Greater customer convenience and satisfaction.

Double Helix Processing can get your high-risk background check company a merchant account quickly and easily. Additionally, Double Helix Processing understands the ways to keep costs for your business low and your high-risk merchant account in good working order. A few of the strategies that background check merchant account businesses can put into place to assist in reducing chargebacks are:

1. Respond to your customer requests to cancel a recurring transaction

If a customer requests cancellation of a recurring transaction that is billed on a recurring basis (monthly, quarterly, annually), always respond to the request and advise the customer in writing that the service, subscription, or membership has been canceled and clarify on which date the cancellation is effective.

2. Have a customer service help desk

Institute a place where customer calls and emails are answered in a timely manner and dissatisfied customers receive resolution to their issues internally rather than through their credit card company.

3. Make sure the payment descriptor is your merchant name

If the customer doesn’t recognize the name that appears on their statement, it is less likely that they will know what the charge was for. Additionally, you should also include a contact number or email for the customer to reach out to in order to clarify the transaction in question. To avoid a chargeback dispute, the solution is to be sure your descriptor reflects what the consumer will recognize.

Learn more about how to avoid credit card chargebacks here.