SoarPay offers credit card processing solutions for MLM (Multi-Level Marketing) Companies.
Why We Proudly Offer Solutions for Apparel Industry Businesses (Even When Many Processors Don’t)
Multi-level marketing, or MLM, businesses can be incredibly lucrative and successful for their owners. However, when it comes to credit cards and other payments processing, many merchant services companies do not work with MLM companies. This is for three primary reasons:
- Many MLM businesses have a moderately high chargeback rate, due to the nature of these business models. New product sellers in the value chain may institute chargebacks if they have trouble clearing out their inventory. Conversely, some buyers may be unhappy with the products not giving them results they believed they would achieve, leading to increased chargeback risk.
- Many MLM businesses are built around products which may make claims which need to be verified. Properly vetting products sold by MLM businesses requires more extensive underwriting evaluation than some banks are willing to make.
- Some of the bad press and criticism of certain MLMs as pyramid schemes has increased the “reputation risk” banks and processors may face for working with industry businesses.
Due to these three risks, many merchant services providers decline to accept any MLM business, no matter what their product or method of processing transactions is.
Soar Payments, by contrast, has consistently offered solutions for the MLM industry since our founding. Our extensive relationships with credit card processors and sponsor banks who have the capability to underwrite regulated industries, in addition to our integration of chargeback and fraud prevention software, uniquely positions Soar Payments to provide MLM businesses with stable, effective, long term credit card processing solutions.
Frequently Asked Questions for MLM Credit Card Processing
What types of MLM businesses do you service?
Soar Payments offers merchant processing solutions for a wide range of retail, eCommerce and mobile-based MLM businesses. These include MLM businesses selling various beauty products, health products, courses, exercise and self improvement plans, and more.
Is Soar Payments compatible with my existing POS (Point Of Sale), shopping cart software, or website checkout software?
Established MLM businesses typically have a preferred eCommerce or Point Of Sale (POS) software platform they use. Because Soar Payments works with most major payment gateways (including Authorize.net, USAePay and NMI), our MLM merchant accounts integrate with most popular software suites used by online businesses including Shopify, WooCommerce, BigCommerce, Magento, and WordPress.
As part of my MLM strategy, we make significant claims about our product efficacy that cannot be verified, is that okay?
Soar Payments evaluates every business on a case by case basis, and many product claims are perfectly fine. However, some specific medical claims with no documented research backing them can result in requests from the bank to remove such claims from the product advertising. In general, exercise caution with product and service claims that cannot be verified.
Other Questions? Call: 1 (888) 616-8414
Types of MLM Merchant Accounts
A retail merchant account for MLM companies enables them to accept face-to-face debit and credit card payments via a traditional credit card machine or point of sale system.
Ideally suited to a storefront or retail setting with reliable internet access, retail MLM credit card processing accounts typically have the lowest chargeback and fraud risk and as a result are afforded the lowest credit card processing pricing.
A mobile merchant account for MLM companies enables your business to accept face-to-face credit and debit card payments via a swiper (included with each account) that plugs into your mobile phone or iPad.
Appropriate for businesses that frequently conduct face-to-face sales outside of a storefront, such as door-to-door sales, mobile accounts are priced similarly to retail, due to their lower chargeback risk.
Also called a payment gateway merchant account, a virtual terminal enables businesses to accept payments over the phone, via mail, or typed into a computer (without needing outside equipment). They also have invoicing solutions which allow the merchant to email an invoice to the customer, which they can pay online.
An MLM payment gateway account is ideal for businesses that accept payments over the phone, or via mail order. Virtual terminal payments are particularly vulnerable to fraud, therefore Soar Payments offers integrated chargeback protection.
An eCommerce MLM merchant account allows you to accept credit card payments via your website’s online shopping cart or checkout page.
Our eCommerce credit card processing accounts integrate seamlessly with most major payment gateways and shopping cart software, making setup simple. Online MLM company payments are vulnerable to fraud and chargebacks, consequently, we offer pre-integrated fraud protection technology.