Merchant Accounts For Moving Companies
An Overview
Moving and Transportation Merchant Accounts
The moving industry is a crucial one, with a market size of over $18 billion. With tens of thousands of moving companies transporting goods, the need for credit card processing and other payment options is clear.
Unfortunately, many banks and credit card processors consider moving and transportation businesses to be “high risk”, and are unwilling to provide them with merchant services.
Soar Payments, by contrast, is proud to offer merchant services to moving and transportation businesses. We value the services provided by all types of companies within the industry, including those that ship goods, transport various items, enable residential moving, and more.
Frequently Asked Questions
Here are common questions specific to transportation and moving merchant accounts:
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What types of moving and transport industry businesses do you accept?
Soar Payments accepts a broad range of businesses within the broader moving and transport industries. These include traditional home and office movers, booking agents, carriers, local and long-distance transportation companies, high value transporters, auto transporters, PBO transporters, van operators, logistics and warehouse companies, web and app based technology companies, and many others.
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Is Soar Payments compatible with my existing preferred moving or transport software/CRM platform?
Soar Payments moving and transport merchant accounts, either directly or via a payment gateway, are compatible and can be integrated with most other software or CRM platforms.
This includes CRM and software platforms frequently used by businesses in the moving industry such as Elromco, MovePoint, and MoveNinja. We’re Also Compatible With Many Other CRM & Software Suites including: Granot, Move Pro, MoverWorX, Soffront, Netensity, Zoho CRM and Salesforce.
Soar Payment’s moving and transport merchant accounts can be integrated with most other software or CRM platforms which are compatible with the Authorize.net, NMI, or USAePay payment gateways so if you don’t see yours here, you can check with us or your provider to confirm! For questions about how to integrate your preferred moving and transport related CRM software, contact our sales team.
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Can I charge my customers’ credit card before the move occurs and is there a transaction size ceiling?
Each merchant account is approved based on your specific company’s needs. Generally speaking, however, the best practice is to only charge a customer’s credit or debit card as close to the day of the move as possible. Charging a card early leads to unnecessary customer credit card chargebacks in the event of a last-minute change by the customer. As for transaction sizes, we let you tell us how much your company’s services cost in your merchant account application. When an underwriter reviews your business’ merchant services application, it will be reviewed with that transaction ceiling in mind. There is no fixed transaction ceiling for the moving and transport industry as a whole.
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Why is my moving or transportation business considered “high risk” by banks and credit card processors?
Most credit card processors consider the moving and transport industries as too high risk to support for any of four reasons:
- Movers and transport services offer custom one-off high ticket items. For example, even the average office move or small boat transport involves a custom pricing proposal in the thousands to tens of thousands of dollars. One-off high ticket credit card sales are the most prone to so called “friendly fraud” in which customers use the service, but charge it back, to try to get it for free.
- Moving or transporting goods can be risky. Things get broken in the ordinary course of a move, or a customer’s goods aren’t delivered in exactly the precise way it was planned. Unfortunately, this leaves more room for disputes by customers, which creates the risk for more chargebacks.
- Even those carriers which are affiliated with major national moving chains, are often operated on a local or franchise model. These are small or mid-sized businesses, with significant chargeback liability exposure, and often without the resources to make good on orders in the event of a disaster.
- Transporters often accept credit card payments via virtual terminal, over the phone. Because this method of card acceptance isn’t face-to-face, it’s also subject to more outright customer fraud than retail transactions.
Want more information? Click here to read our extended list of our FAQ.
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Types Of Moving And Transport Merchant Accounts
Soar Payments offer a full-array of merchant accounts to movers, car transporters, and other businesses in the transport industries. These include:
Retail Payments
A retail merchant account for movers and transporters enables your business to accept face-to-face credit card payments via a traditional credit card machine or point of sale system.
These are suited for companies that accept payments primarily in-person in their storefront location. Due to the in-person nature of the transaction, retail credit card payments have lower rates of chargebacks and fraud, and therefore these merchant accounts receive the lowest pricing.
Mobile Payments
Common in the moving industry, mobile merchant accounts allow your company to accept in-person payments via a swiper that plugs into your employees’ mobile phone or iPad.
Moving or transport companies that accept credit card payments at the customer’s location are ideally suited for a mobile merchant account. Because payments are accepted in-person, the fraud and chargeback risk is lower and consequently these merchant accounts are priced similar to retail.
Virtual Terminal Payments
A virtual terminal or payment gateway merchant account, allows businesses to accept payments over the phone, via mail, or typed into a regular computer with no outside equipment.
This is ideal for movers and transporters that prefer to accept credit card payments over the phone, or who use a robust CRM system, and prefer their payments to integrate automatically with that CRM system.
eCommerce Payments
Online merchant accounts for movers and transporters allow your company to accept credit card payments via a website checkout page. Our eCommerce accounts pre-integrate with most major payment gateways and website shopping carts, making setup easy.
eCommerce sales are vulnerable to customer chargeback and fraud risk, and therefore Soar Payments offers integrated chargeback prevention technology.
The Future of Payment Technology with Patricia Montesi
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