Business coaching is a lucrative business. Steering a business or start-up in the right direction and helping them achieve their business goals is extremely rewarding. This is why the most successful business coaches charge high fees for their coaching services. They need reliable merchant payment processing solutions that cover all aspects of their business model. A reliable business coaching merchant account is of utmost importance when accepting these higher fees and high ticket items for business coaching merchant payments.
These higher proceed items, among other factors, make business coaching service providers classified as high-risk businesses. Many financial institutions avoid providing payment services to business coaches. Yet, as a business owner, you need a rock-solid business coaching merchant account to facilitate a smooth payment process.
SecureGlobalPay is one of the leading payment processors that offer high-risk and high ticket merchant accounts with intelligent payment routing to multiple acquirers. Your business coaching business can easily benefit from these merchant services and why choosing the right payment provider has never been more important.
Why a Business Coaching Merchant Account is Considered High Risk
Business coaching, educational seminars, corporate training, and similar lines of business are major red flags for banks. Therefore, you will find it difficult to find a business coaching merchant account from many financial institutions and payment processors. There are several reasons why processors consider business coaching to be high risk.
Large Transaction Sizes
Business coaches typically charge high fees for their services. These large transactions pose large financial risks. Many banks and payment processors would therefore not be willing to provide high ticket coaching merchant services for these businesses.
The coaching business has a higher-than-average number of chargebacks. Due to clients’ unmet expectations, customers may initiate chargebacks. In addition, the performance metrics of coaching services are not always quantifiable. Customers with significant expectations are therefore likely to file for chargebacks.
Business coaches offer services, not tangible goods. Intangible products cannot be validated objectively. Therefore, the reputation of your coaching or seminar sessions depends on how satisfied customers are with the services.
Online and Over the Phone Sales
Business coaches accept payments in person, over the phone, or online through their websites. Transactions that are not done face to face are prone to fraud. Merchants need a robust payment gateway for high business with fraud prevention tools that will help them reduce fraud and chargebacks.
Irregular Business Patterns
Business coaching services do not process payments daily. Instead, high-volume transactions are made via a high-volume merchant account a few days before a major event, seminar, or training program. Other periods might experience low-fee tickets or no fees at all. These fluctuations make the coaching business less attractive to payment gateway providers.
SecureGlobalPay has a thorough understanding of how business coaching works, including the risks associated with the business. Additionally, SecureGlobalPay has been voted the best payment gateway for high-risk business which can help caution your business from the risks associated with online payment systems.
Why SecureGlobalPay is the Best Option for Business Coaching Merchants
SecureGlobalPay collaborates with a large network of banking partners to ensure access to a wide range of payment solutions. With an elite portfolio of high-risk merchant account services, the company is the best fit for business coaches. Furthermore, SecureGlobalPay offers custom-tailored merchant services to meet the specific integration needs of its clients.
Many high-risk businesses leverage SecureGlobalPay’s payment gateway solutions to process secure payments via their omnichannel payments platform. A business coaching merchant account with SecureGlobalPay guarantees smooth credit card processing. This service provides your clients the convenience they need when making such payments.
We are also a reliable partner that seeks to ensure you have a pleasant experience when processing high-risk payments. This is why we offer the following:
- High approval rates
- Fast approvals
- 100% digital application
- Affordable rates and fees
With over 25 years of experience, we are your best choice for your coaching business. Your website’s checkout can allow for multiple merchant accounts to be utilized at the same time. This allows for intelligent payment processing via multiple bank acquirers. Multiple merchant account payment processing helps manage chargeback ratios and ensures uninterrupted payment processing.
Conclusion – Business Coaching Merchant Services
Don’t let inefficient payment systems deter you from closing big deals with big corporations. A reliable business coaching merchant account is what you need to accept credit cards and other convenient payment methods. You can find these payment solutions at SecureGlobalPay. Contact our customer service team to learn more about their services and apply for a merchant account for high ticket coaching.