If you are running an Online Education website and want to accept credit card, then you are at the right place. We provide one solution to all of your problems.
If you are reading this then you probably want to accept credit cards on your Online Education website. Most business owners like to know how they can accept credit cards. There are many ways to offer multiple payment methods to your customers. Some of the commonly used methods are as under:
- Using own merchant account: you will need a payment gateway linked with your website. There are various requirements for every country; you can contact us for further information.
- Third party merchant: There are many companies willing to accept credit card on your behalf. They will take fees in exchange and provide you easy solution for your Online Education website. These are also called payment gateways.
How it will benefit your business?
If you are advertising your business but you are not accepting credit card payments then you are making a mistake. If customers find something interesting on your site and they have to buy via check then they may not buy it at all. It takes time to get a checkbook and mail it.
There are international customers who may be interested in your products but not accepting credit card can restrict your business. A flexible system takes care of currency different and other factors. If you aren’t accepting online payments through credit card or debit card, you are losing valuable customers every day.
Which is the best method for you?
Opening a merchant account is little expensive than third party merchant account. Some third party may not have any fees, but the transaction fee is usually high as compare to a dedicated merchant account.
If you don’t know whether your product will sell then third party will probably suite you. But if you are confident that you have a quality product that will gain popularity in time then a dedicated merchant account is the best solution for you. If you just want to test your Online Education website then try third party account, you will get a check and you won’t have to worry about anything other than your product.
Advantages of own merchant account for Education Website
One of the reasons to have a dedicated account is that your visitors will be able to trust you and you may sell more. Most card owners trust websites that offer better payment system. Having a dedicated merchant account can decrease transaction costs as well. You will be processing the transactions using a gateway so you probably will need to be more careful. There may be frauds and chargebacks in dedicated to third party merchant account. You will gain more trust from your customer. You won’t need to pay third party extra gateway fee other than regular gateway fee. Also there will be your own merchant account and payment gateway so the complete profit will be yours and no requirement of splitting the profit between you and gateway providing company. So the result of having own merchant account can give you high ratio of profit than third party gateway.
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Credit Card Processors
From the perspective of credit card processors, some industries are simply riskier than others. The factors that go into determining that risk can vary from incessant chargebacks to bad credit. For Example
- Tech Support.
- Airline Tickets and Travel.
- Credit Repair.
- Online and Tribal Lending.
- Sports Betting and Gaming.
- Collection Agencies and Many More.
Creative Payment Channels
Traditionally, high risk payment solutions have been limited in scope due to the conservative nature of banks. Today, however, there are more ways than ever to help legitimate merchants handle their payment needs. This is largely due to the work of savvy merchant service providers.
Merchant Stronhold has ACH processors, credit card providers, and even blockchain solutions available for entrepreneurs looking to open high risk merchant accounts.
Pricing Tailored to Your Business
Finding a merchant service provider willing to approve your high risk business and provide reasonable rates can be challenging. Many credit card processors try to take advantage of the low rate of approval faced by high risk merchants and force them to pay crazy transaction fees.
Reduce Chargebacks & Protect Profits
As a high risk merchant, chargebacks are likely the greatest threat to your profit margin. If left unchecked, they can single-handedly take down the business you worked so hard to build.
Using chargeback management services can help shield your revenue from excessive chargebacks and credit card fraud, ensuring the longevity of your business.