Biz Ops Merchant Accounts – Get Yours Today

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Last Updated on August 16, 2023 by Corepay

Are you looking to get approved for your biz ops merchant account and having a hard time? You’ve come to the right place. At Corepay, we have been working with biz ops merchants for nearly two decades, and we understand what it takes to succeed in the industry.

Let’s take a look at what you need from a biz ops payment processor and explain why we believe we’re a great fit for your business.

*We also offer merchant accounts for MLM and payment processing for coaching.

Key Takeaways

• Business Opportunity Merchant Accounts are classified as high risk and can be difficult to find reliable processing partners for.
• Business Opportunity Merchant Accounts allow businesses to improve cash flow, increase earnings, and provide greater customer convenience and satisfaction.
• Corepay understands the ins and outs of the industry and will ensure you get and stay approved.

What Is A Bizops Merchant Account?

A bizops merchant account is a high-risk payment processing solution specifically designed for business opportunity owners. It allows them to accept various forms of online payments and improve cash flow.

This type of merchant account is essential for businesses in the business opportunity industry. It is classified as high risk due to excessive chargebacks and fraudulent practices. Business opportunity owners often need help finding reliable processing partners and may have their existing accounts shut down if they experience too many refunds or chargebacks.

Apply For Your Business Opportunity Payment Processing

Start accepting payments for your biz ops company today by applying for your customized payment processing solution. With a business opportunity merchant account, you can improve your cash flow, increase your earnings, and provide greater convenience and satisfaction to your customers.

To ensure seamless integration and partnership, the following documentation holds significance:

1. Certificate of Incorporation
2. Voided Check or Proof of Bank Accounts (e.g., a signed bank letter containing account and routing numbers)
3. Organizational Chart, if applicable
4. Comprehensive Personal and Business Financial History
5. Previous Processing Statements, if relevant
6. Verification of a Website that Complies with Regulations

Why Are Bizops Merchant Accounts High-Risk?

Bizops merchant accounts are considered high-risk due to several key factors.

First, this industry’s chargebacks are a major concern, as customers often dispute transactions and request refunds.

Additionally, affiliates using misleading tactics to attract customers can incur many chargebacks.

Lastly, customers may feel duped or unsatisfied with the product or service they receive, leading to an increased risk of chargebacks.

Chargebacks

One major challenge for business opportunity owners is the high risk of chargebacks, which can lead to account shutdowns and financial losses. Chargebacks occur when customers dispute a transaction and request a refund directly from their credit card issuer. This can happen for various reasons, such as dissatisfaction with the product or service, unauthorized transactions, or fraudulent activity.

To help business opportunity owners navigate this challenge, here are four strategies to reduce chargebacks:

• Respond promptly to cancellation requests and provide clear refund policies.
• Maintain an efficient customer service help desk to address customer concerns and resolve issues.
• Ensure the payment descriptor accurately reflects the merchant’s name to avoid confusion and disputes.
• Implement fraud prevention measures, such as using address verification services and implementing strict security protocols. We recommend our partner product, CB-ALERT, regarding chargeback prevention.

By implementing these strategies, business opportunity owners can minimize chargebacks and protect their merchant accounts from shutting down, ensuring a smoother and more profitable operation.

Affiliates Misleading Customers

To avoid misleading customers, ensuring that your affiliates provide accurate and transparent information about your products or services is crucial. Maintaining honesty and integrity in your affiliate marketing efforts is essential. Misleading customers can damage your reputation and lead to chargebacks and customer dissatisfaction.

To prevent this, ensure your affiliates clearly communicate the benefits, features, and limitations of your business opportunity. Provide them with clear guidelines and training on ethically promoting your products or services.

Monitoring their marketing materials and communications is important to ensure compliance with your standards. Holding your affiliates accountable for their actions and promoting transparency can build customer trust and establish a solid foundation for your business opportunity merchant account.

Customers Feel Duped

Customers often feel duped for a variety of reasons:

1. Many business opportunity merchants make unrealistic claims about potential earnings, leading customers to believe they can achieve instant success and financial freedom.
2. Customers often need to be made aware of the hidden costs of these opportunities, such as membership fees, training materials, or additional purchases required to succeed.
3. Once customers sign up, they may discover that the promised support and guidance are minimal or nonexistent, leaving them to navigate the business opportunity independently.
4. Despite the enticing testimonials and success stories the merchants share, customers may need help finding genuine success stories from actual customers who have achieved the promised results.

Why Bizops Merchants Can’t Use Paypal

Due to classification as high-risk merchants, business opportunity owners often face restrictions and regulations that prevent them from utilizing popular payment processors like PayPal.

PayPal has a strict policy against working with high-risk industries, including business opportunities. This can frustrate business owners relying on PayPal for their payment processing needs.

However, alternative payment processors specialize in working with high-risk merchants and can provide business opportunity merchant accounts. These processors understand the unique needs and challenges of the industry and can offer tailored solutions at competitive prices.

At Corepay, we tailor merchant accounts to your specific needs and pride ourselves in having 100% transparency, allowing you to reach your full potential.

Choose Corepay

When selecting a payment processing partner for your course selling platform, look no further than Corepay.

First and foremost, we deeply understand the distinctive challenges and prerequisites faced biz ops companies. With over two decades of experience catering to high-risk industries, we are well-acquainted with the compliance obstacles that merchants encounter. Unlike conventional payment processors that might shy away from high-risk businesses due to their nature, we embrace these industries and provide merchant accounts tailored to their distinct needs.

Here’s a concise overview of what we bring to our biz ops clients when it comes to payment processing:

1. Competitive Processing Rates: Recognizing the significance of providing you with the most competitive processing fees available, CorePay aims to foster your business’s growth while optimizing profitability.
2. Swift Approval Times: Acknowledging the urgency for businesses to secure sales, we prioritize rapid approvals, typically granting them within 24-72 hours.
3. High-Volume Processing: Through our proprietary payment gateway, Netvalve, we have meticulously crafted a solution for high-risk companies managing substantial transaction volumes. Count on our platform’s ability to accommodate your business’s upward trajectory.
4. Acceptance of Multiple Currencies: Understanding the global nature of your business, we empower you to accept payments in various currencies, expanding your reach and enhancing customer convenience.
5. Robust Security Measures: Your business’s security remains our paramount concern. Our PCI-Level 1 secure payment gateway undergoes continuous monitoring and rigorous security testing, ensuring uninterrupted protection for your transactions.
6. Mobile Payment Capabilities: Seamlessly embracing the mobile revolution, our platform enables you to accept payments from customers using their mobile devices, catering to evolving consumer preferences.
7. Transparent Pricing: We uphold transparency and simplicity, exemplified by waiving application, setup, and annual fees. This ensures you can focus on managing your business without undue financial concerns.
8. 24/7 Customer Service: Delivering exceptional customer service is our pride. Our dedicated support team is available round-the-clock, poised to address your inquiries or concerns. Your contentment remains our utmost priority.

Please fill out the application below to find out how Corepay can help you today.