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Concerns about Merchant Account Processing: Should I Have Only One Merchant Account?

Posted on December 27, 2013 by Charity
For a MLM company, it is imperative to have multiple solutions in place as a company grows.

For a MLM company, it is imperative to have multiple solutions in place as a company grows.

This is a question for a MLM startup or existing company as opposed to a MLM consultant. For distributors who drive customers to their replicated websites, the company has in place credit card processing capability.

For a MLM company, it is imperative to have multiple solutions in place as a company grows. In fact, fast growth of a network marketing company often triggers major concern for the credit card processor because of the exponential potential liability in the event of charge backs or failure to deliver on the part of the network marketing business. Thus, fast growth may cause a merchant account processor to demand, in exchange for what it perceives as higher risk, larger reserves, higher rates and even hold backs on distribution of funds to the MLM company. Of course, failure to access funds will prove devastating for a MLM company that must pay commissions and pay its own vendors. Pleas by the MLM company often go unanswered by merchant processors and many companies have either faced collapse or actually collapsed as a result.

The short answer is for any startup or existing MLM company is to make sure that it secures multiple processing accounts from different processors and banks. In addition, it should be in touch with a reputable consulting firm that represents companies in the search of back-up merchant account vendors. The time to search is not during the crisis, but before the crisis occurs.

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This entry was posted in Commission, Conference, Consulting, Direct Selling, For MLM Executives, Just for Fun, MLM, MLM Articles, MLM Attorney, MLM Startup, Network Marketing, Party Plan, Software/Technology, Success, Vendors and tagged access funds, charge backs, colapse, Commissions, company growth, consulting, credit card, direct sales, direct selling, failure, high risk, merchant account, merchant processing, mlm, MLM company owners, multiple processing accounts, network marketing, party plan, payments, penalties, Q&A, replicated websites, Startup, vendors. Bookmark the permalink.
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