Payment processing for document preparation merchants. Fast approvals. Competitive rates. Our document processing merchant accounts are the ideal solution for doc prep merchants.
The reason document processing merchants find it difficult to get payment processing solutions is that the demographic of the customers increases the risk for chargebacks. For example, credit repair, student loan, and lenders often work with customers who already have challenges with payments. And the risk of “friendly fraud” increases when these customers realize the ease with which payments can be charged back.
With chargebacks, the potential cost of the transaction increases for the bank. As a result, banks tend to refuse applications from document processing merchants, or offer uncompetitive rates. Either way, the result is undesirable for document processing merchants. This means successful businesses either struggle to get an account, or suffer from high payment processing rates.
For thousands of years, documents have been at the heart of everything we do. Even in the digital era, document processing is huge business. For legal firms, financial services, insurance underwriting, and loan underwriters, the document processing business is in great shape.
Because the industry is becoming more and more competitive by the year, it is increasingly important for document processing firms to be easy to work with for their customers. A big part of this simplicity is the ability to offer simple payment processing, and a range of payment options.
Yet the business model is not a favourable one for banks. This makes finding the right account more difficult than it should be. And in addition to the impact on customer experience, this can also be problematic for planning cashflow.
Document preparation merchant accounts provide a range of tailored benefits for firms in the industry. Mulitple payment options for your customers need to be considered. On top of this, the way that customers are billed needs to be factored in. Whether customers are invoiced and pay by electronic check, ACH or debit cards, options need to be offered.
Document processing firms that offer contract preparation, loan applications, or the preparation of legal documents need to be able to bill for their valuable services. And multiple payment options means that you can accept payments any way your customers want to pay.
Giving customers flexible payment options is known to increase revenue in many industries. Document processing merchants are no different. Whether your customers prefer to pay by electronic check, credit card, debit card or direct bank account payment, we have it covered.
This is an especially valuable part of our services since debit card transactions since debit cards are much more difficult to chargeback than credit card payments. For firms with clients outside the US, our accounts also offer the benefit of a wide international banking network that speeds up payment processing times.
Although by nature of the industry many document processing firms’ customers pay invoices on a one-time basis, this is not always the case. For customers that prefer to pay via monthly recurring payments for example, our accounts enable auto-pay for simple and efficient processing.
For finance departments with limited resource or to simplify cash collection, this can provide a valuable option. It is also a valuable facility to have in place for billing larger firms that do not have a credit card available. This way automated payments or one-time electronic checks provide the ideal solution both for your firm and for your customer.
Find out more and apply online for our document processing merchant accounts.
Free free to email info@NationalACH.com. Or call 866-ACH-7600 today.