Amazing Service. The process was very easy to sign-up. Daniel at Tailoredpay was on top of his game! He made sure we were taking care of no matter what!
Thank you so much! I highly recommended Tailoredpay!
High Risk – No Problem
I own and operate an online company that is considered “high risk.”This was not an obstacle with Tailored Pay. They went above and beyond to provide the best rates with the best acquirers for my business. I definitely recommend any merchant to work with Tailored Pay.
Our representative was great he’s very…
Our representative was great he’s very person centered which made our business experience terrific
Great so far
Great so far. Processing is working well and my representative is very helpful and surprisingly responsive.
Communication was great and they…
Communication was great and they offered the lowest rate for our industry. I was talking to many different providers but TailoredPay offered many incentives, I do not regret it. Highly recommending using TailoredPay!!
Great Company easy communication and…
Great Company easy communication and great rates
Recurring Credit Card Payment Processing
For companies that sell subscription services, or indeed any kind of product that will likely be bought at regular intervals, a recurring billing business model makes perfect sense. From big corporations like Netflix to a local gym, countless businesses rely on this model. In fact, the vast majority of Americans make at least one repayment via recurring billing each month. And as the two examples we just gave attest, the model is equally applicable to both eCommerce and bricks-and-mortar businesses alike.
But while recurring payment processing is an incredibly convenient option to have in your business toolkit, it can be extremely challenging to actually get it set up. That’s because recurring payments are often categorized under high risk credit card processing by banks. You may be even more likely to be categorized as such if your business is in the MLM, online dating or adult industry. These businesses tend to have a higher-than-average chargeback ratio. Once this ratio reaches a certain point, the bank will freeze their account- and may even shut it down altogether.
Recurring billing from TailoredPay gives you the flexibility you need- and with a 97% approval rate, there’s never been a better time to apply. All you need to do is set your recurring billing schedule, and our secure gateway will take care of everything else for you.
What Makes Recurring Billing Businesses High Risk?
In order to process card payments, you’ll need a merchant account from a bank. To protect themselves from excessive numbers of chargebacks, banks have underwriters manually check each application before approval. Any business in an industry which is particularly liable to receive chargebacks will automatically be labelled as “high-risk”. Often, the underwriter will reject applications from high-risk businesses. In other cases, should you receive even one chargeback, your account may be suspended without warning, and ultimately dropped completely.
At TailoredPay, we understand that no business wants to receive chargebacks. We don’t believe that you should be prevented from taking card payments simply because of your industry, which is why we specialize in providing merchant accounts to businesses that traditional banks may not work with. In addition, all of our underwriting is carried out in-house. This means we can look past your “high-risk” status, and instead help you get set up with the right merchant bank for your unique needs.
As your recurring billing payment processor, we will be happy to assist you with the set-up and implementation. To ensure that everything runs as smoothly as possible, we advise that you plan out what you will require before you make your application. Will you offer a free trial before the recurrent payments begin? How long will your charging cycle be? The more of these types of questions you can answer, the easier it will be for our underwriters to approve your application.
Why is TailoredPay the Perfect Choice for Recurring Billing Payment Processing?
Obtaining a high risk merchant account is about more than just finding a provider who is willing to provide you with an account. Instead, you should look for a partner who will work with you to find a customized solution for your business and provide one-to-one support whenever you need it. That’s why TailoredPay is the ideal small business payment processing provider.
With long-standing relationships with over 25 different merchant banks, we are able to offer an impressive 97% approval rate- even if you have been turned down for a merchant account in the past. We’ll give you the flexibility you need, at some of the most competitive rates on the market.
So, if you’re ready to add recurring billing to your business, then it’s time to make your application with TailoredPay. The process only takes around 10 minutes, and you could be approved in as little as 48 hours. If you have any questions about our services, or just need a little advice, please don’t hesitate to get in touch!