Merchant Accounts for Educational Software
The amount of risk a business faces when it comes to processing payments for their services varies from one business to another. Some businesses are classified as low risk businesses while there are others that are described as high risk businesses, depending on the risk the acquirer or the financial institution, processing the payments is exposed to.
There isn’t much of a hassle for a low risk business to get a standard merchant account, as the acquirer is assured of the payments and their processing. However, in the case of many high risk businesses, such as educational Software, gambling, adult products, online pharmacies and other kinds of ecommerce business, most of the acquirers or financial institutions shy away because high risk businesses operate within a high risk industry with risk of looming financial failures.
This is where AMSLV comes in. We are an experienced online service skilled in assisting a high risk business to set up credit card processing and other related payment processing services. We are one of the most recognized names in providing services for credit card processing for educational software.
While most traditional banks and other financial institutions consider setting up a software merchant account for educational software high risk, we at AMSLV help set up a credit card processing merchant account for educational software quickly and easily, so that the business can start selling their products online at the earliest, possibly with full security and guarantee.
What are educational Software?
We have understood that educational software is considered a high risk business, perhaps because of the high chargeback ratio associated with such a business (besides of course other kinds of financial failures associated). It now is important to understand what educational software is and why is it so difficult to get a merchant account for such business.
Educational software is primarily computer software with the sole purpose of teaching or self learning. These may comprise of courseware, classroom aids, assessment software, reference software etc. Educational software is becoming really popular because it is a convenient and more realistic way for most people to work or learn from the luxury of their homes.
Owing to this success in the industry, many fraudulent services providers have also entered the fray. These fake services provide useless products in the market, which shoot up the chargeback on the acquirers who have provided credit card processing services to these educational software business. This is one particular reason that has made educational software a high risk business and has forced all new and old merchants to run from pillar to post finding a way to get a merchant account to accept payment through cards from their customers.
How to find affordable educational Software Merchant accounts?
There are software businesses that want to venture into educational channels but come up without knowing anything about how to sell educational software. Selling educational software is pretty easy these days, given the fact that digital learning and teaching has become the need of the hour in the 21 century, but being a high risk business, most businesses indulge into fraudulent practices.
Considering the high risk nature of the business, it can be difficult to find a merchant account solution when your business is selling educational software. The business looking for a merchant account has to battle through the allegations of fraud and intend to keep its chargeback ratio considerably low, which is only possible when your business is driven on ethical grounds
For ethically sound educational software businesses, new or existing, AMSLV provides a payment gateway by connecting your business to acquiring banks all over the world, which provide affordable educational Software Merchant accounts.
Getting an educational Software Merchant account is easy with AMSLV. You submit a merchant account application and our merchant account manager will be there doorstep to help you through as soon as possible.