Multi-Level Marketing Merchant Account
MLM companies have been dominating sales for years. Before the internet, there were Tupperware parties where housewives would sell some products to their friends and neighbors. Today, however, MLM business has expanded online and is a multi-million dollar industry. Accepting credit card payments is now essential for any multi-level marketing business.
There is one major issue for MLM merchants. Due to the business model of such companies, traditional banks classify all MLM companies as a high risk business and make it extremely difficult to obtain an MLM merchant account. Banking relationships are not easy in the MLM business and as such high risk merchant accounts offer a viable solution for business owners.
EthosPay works closely with your MLM business to provide merchant services which are suited to your business type. We make it easier to sell your products and services using a virtual terminal which can accept a variety of payment methods.
In addition, our merchant service can implement a payment gateway on your webpage so you can accept credit card payments from the customer directly online without them having to leave your platform. This will contribute to improving the customer service levels of your business and lead to healthier profit margins.
Merchant Account Services for a Range of MLM Businesses
Multi-level marketing companies come in a variety of shapes and sizes. Merchants affiliated with such companies can purchase products at a discount to then sell them for a profit as well as acting a sponsor for others to sell through the company. As an independent business owner, it is essential to offer a broad range of payment methods to clients including credit card payments.
EthosPay specializes in assisting MLM merchants with all processing histories who sell a variety of goods and services including:
- Health products
- Beauty products
- Household items
- Fitness equipment
Regardless of what products your MLM company sells, EthosPay provides expert assistance in obtaining merchant services. We have vast experience working with startups, small, medium, and large businesses, assisting them in obtaining credit card processing capabilities. Businesses with no credit, bad credit, or excessive chargebacks can complete an application and get pre-approved within 24 hours.
MLM Business Model Risks
There are some risks associated with MLM businesses which cannot be ignored and contribute to categorizing the MLM industry as containing high risk businesses. The first is the potential for fraud. Some MLM merchants make promises about obtaining vast sums of money easily without any proof to back up their claims. Such merchants have given the MLM industry a bad name and hurt banking relationships.
The second is the high risk of chargebacks. Some MLM businesses fall foul to many chargebacks due to misleading customers about the potential of the items they are selling. A high number of chargebacks can be catastrophic for a business, leading to limits placed on their merchant account or worse.
Reducing and fighting against chargebacks is the best way to improve your business’s reputation and reduce merchant fees in the future. Our detailed reporting system allows you to analyze processing history and see where potential chargebacks may occur as well as understand how your clients make payments more clearly.
These risks may prove a stumbling block when trying to get merchant services for your multi-level marketing business. Beating the risk of chargebacks and unsubstantiated claims can vastly improve your business turnover and help clients establish a high level of trust in your brand.
EthosPay uses the latest technology to combat chargebacks. Our chargeback alert system will warn you when a chargeback has been filed and provide you with 48 hours to fix the issue with the client. This will prevent the chargeback from appearing in your merchant account, reduce chargeback ratios, and could potentially save your business thousands of dollars every year.
Get Approved for an MLM Merchant Account with EthosPay
Applying for a multi-level marketing merchant account solution with EthosPay is fast, simple, and secure. Our expert industry knowledge will guide you through the application process and offer great customer service once your payment gateway and merchant account are set up. We pre-approve applications within 24 hours and can have your virtual terminal ready for processing payments in just 72 hours.
If your business has already been rejected by a traditional bank, has bad credit, suffered from high chargebacks, or is struggling to find a merchant account, contact us today.
- Complete the brief online application for accounts for CBD
- Digitally sign the merchant agreement
- Get Pre-Approved within 24 hours
- Upload any supporting documentation requested
- More than 99% of applications are approved
- Start CBD payment processing within 72 hours
Don’t fear rejection, EthosPay boasts a 99% approval rate for MLM business merchant services. At EthosPay, we have over 15 years’ experience in dealing with high risk merchant accounts. This industry knowledge means we understand the individual needs of each Multi-Level Marketing business and work to tailor the best credit card processing solution for your business. You can begin accepting credit card payments from a safe and secure environment in just 72 hours with EthosPay. Fill in an application and see how an MLM merchant account can boost your sales and reputation today.