Need Merchant Account (Networking Marketing Business)

Discussion in 'Payment Processing' started by AdrianMoss, Apr 12, 2009.

  1. #1
    I need to setup a merchant account for a networking marketing business. I would probably just use PayPal but network marketing / mlm is against their terms of use.

    It seems like there are a million different companies that offer merchant accounts but it's hard to figure out which is the best. Some have startup costs, some don't, and it seems like they all have some sort of bogus fee(s).

    I just need a merchant account that doesn't "stick it to me" with fee's and has no issues with my company being a network marketing company.

    Any info or recommendations is greatly appreciated.
     
    AdrianMoss, Apr 12, 2009 IP
  2. Ganguly155

    Ganguly155 Banned

    Messages:
    179
    Likes Received:
    5
    Best Answers:
    0
    Trophy Points:
    0
    #2
    When you go for Network MLM , I suggest you these things..Bcos i have already seen some MLMs with the following gateways..

    1.Libertyreserve.com
    2.Alertpay.com
    3.e-gold.com
     
    Ganguly155, Apr 13, 2009 IP
  3. fionix

    fionix Well-Known Member

    Messages:
    886
    Likes Received:
    15
    Best Answers:
    0
    Trophy Points:
    155
    #3
    It depends very much on how your MLM business is done and where your company is incorporated, the suggested are some good options and it might be possible they are the only ones available, but anyway, I woulld suggest you to also look into companies like : chronopay
     
    fionix, Apr 13, 2009 IP
  4. tedholz

    tedholz Peon

    Messages:
    73
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    0
    #4
    I thinks Paypal is the best
     
    tedholz, Apr 13, 2009 IP
  5. fionix

    fionix Well-Known Member

    Messages:
    886
    Likes Received:
    15
    Best Answers:
    0
    Trophy Points:
    155
    #5
    Well if PayPal accept MLM then it would a simply and fast solution for this.
     
    fionix, Apr 13, 2009 IP
  6. ||||||

    |||||| Peon

    Messages:
    196
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    0
    #6
    Go for gold based processor like Ganguly155 said. They accept almost all business model and the most important thing is, NO CHARGEBACK! ;)
     
    ||||||, Apr 14, 2009 IP
  7. fionix

    fionix Well-Known Member

    Messages:
    886
    Likes Received:
    15
    Best Answers:
    0
    Trophy Points:
    155
    #7
    Yes LR is a good alternative, just looks like it is extreme difficult to fund your account if you are a new customer.
     
    fionix, Apr 14, 2009 IP
  8. ||||||

    |||||| Peon

    Messages:
    196
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    0
    #8
    Funding shouldnt be a problem. Just do a google and you are bound to find countless of exchangers on various forums. The trick is to look for an exchanger thats based in your country.
     
    ||||||, Apr 14, 2009 IP
  9. AdrianMoss

    AdrianMoss Active Member

    Messages:
    159
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    53
    #9
    Thanks for the feedback so far...

    e-gold & Liberty Reserve confuse the heck out of me. I think they might be offering more then I need. I just want something basic (similar to paypal) that will process credit card payments, do recurring billing, not have issues with the fact that my company is a network marketing/mlm company, and are easy to use when I want to withdraw funds from the account. I'm not worried about converting currency or anything of that nature because for the time being I'll be dealing strictly with people located in the United States.

    It would seem to me that AlertPay is the easiest to use (maybe because it resembles PayPal). I have heard they are "cool" with MLM/Network Marketing companies, but I emailed them just to be sure but have not yet heard anything back. Anyone have any feedback on AlertPay and whether or not they are ok with MLM companies?

    AlertPay's fee's seem a little high to me (5% + 0.25) compared to PayPal (1.9% - 2.9% + 0.30) but from what I've read MLM/Network Marketing is considered "high risk" and they typically have higher fee's. Anyone have experience with "high risk businesses" and processing credit cards?
     
    AdrianMoss, Apr 14, 2009 IP
  10. ||||||

    |||||| Peon

    Messages:
    196
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    0
    #10
    They are "ok" with MLM and networking business. But as far as i know their crdit card facility is currently on hold due to lotsa fraud cases.
     
    ||||||, Apr 14, 2009 IP
  11. AdrianMoss

    AdrianMoss Active Member

    Messages:
    159
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    53
    #11
    That sucks. Anyone else have any experience with "high risk" credit card processors?
     
    AdrianMoss, Apr 14, 2009 IP
  12. ||||||

    |||||| Peon

    Messages:
    196
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    0
    #12
    Well.. your best bet right now is offshore credit card processors. Try googling it.
     
    ||||||, Apr 14, 2009 IP