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In your role as a professional coach or consultant, you perform the vital function of mentoring and motivating others to help them achieve their goals. But if you provide high-ticket coaching services, charging $5,000 or more for your work, you might have trouble locating a coaching merchant account that enables you to accept credit cards. Many banks are reluctant to work with these businesses due to the higher risk.
At Zen Payments, we specialize in assisting businesses like yours resolve their payment processing issues. We can provide a merchant account for coaching and mentoring services that’s compatible with your operating model. For more than 15 years, we’ve focused on helping high-risk companies in a broad range of industries provide better service to their customers and gain a competitive edge.
Coaches and mentors face some unique challenges that other businesses don’t experience. When searching for a merchant account for your coaching business, it’s important to choose a provider with extensive experience working with high-risk operations. Your provider should also have an extensive track record of partnering with companies for the long haul. Finally, it should offer flexibility in areas such as payment acceptance methods, pricing and underwriting. Zen Payments has you covered on all these points.
As a high-risk business service provider, you’re more likely to experience chargebacks. For instance, if you have a seminar merchant account that comes with a 30-day, money-back guarantee, it’s easy for buyers to request a refund. Banks typically view this as a drawback that causes them to avoid working with these businesses.
Because many of these services are high-ticket events that can result in substantial chargeback amounts, financial institutions are even more reluctant to set up merchant accounts for coaching and consulting entities.
The reasons a customer may request a refund are often beyond the coach’s control, which can exacerbate the situation. Even if your services are top-notch, the seminar user may not have the self-discipline to follow through. Instead of blaming themselves for their failure, they find fault in the program.
Unfortunately, banks aren’t concerned with why a chargeback occurs — they only see the high volume of refunds, which contributes to their hesitation to support an educational seminar merchant account.
The IT industry encompasses a wide range of business entities. Zen Payments can set up an online tech support merchant account for companies that offer the following services:
At Zen Payments, we specialize in helping high-risk businesses like yours obtain the merchant accounts they need to run their operations — that’s been our focus for more than 15 years. The benefits of partnering with us include:
If you’re tired of getting rejected by other coaching merchant account providers, we’re here to help. We’ve named our company Zen Payments for a reason. We can remove the hassles and stress when finding and implementing a payment processing solution.
Learn more about why you should choose us over the other providers of merchant accounts for coaching and seminars. Call our merchant services specialists at 844-661-0725 or get in touch with us online.