Ok so i set up authorize.net and realize i dont have a merchant to process with. My business makes money many different ways. One way is we charge membership fees for members to contact other members...they get highlighted profiles..... we send out email alerts to the opposite people they want to contact as well. Basically we have a similar site as a dating site but it is connecting business people. These fees can range from $29.99- $129.99 Next is we also provide services for these businesses. We provide website creation, SEO, PPC, hosting services, incorporation services, and some others. These can range from $200-$20,000 but a sweet medium would be lets say $2,000 or $500/m for seo services. I have been only taking checks and have recently only provided services but have not charged the $29.99-$129.99 because i cant take credit cards. I have built up the site where i am ready to charge those monthly fees to members, i set up authorize.net and developer completed that work. WHAT DO I DO FOR A PROCESSOR, i had no idea it was this difficult ive have been researching for days but am scared to choose someone because i hear horror stories of these companies shutting you down and/or holding funds which could break me right now. I worked hard and im sure wil work harder to make this traffic come in.. the last thing i want is to start and get shut down. Should i put low sales volume like $35k per year and as it increases call themn up and tell them hey my sales are going up i will put some money in escrow if you are scared of chargebacks? Almost everysingle company i read i find bad stories from people, are they just idiots or are all the comapnies screwing them> How is graypay i see them being suggested but not sure if the company is doing it or people genuinely are? How do i explain my company to underwriters, i actually plan to sell leads soon as well but didnt even want to confuse them more with my business model. So basically a company that charges monthly fees which they enter the card online and/or we call and provide services from a sales office doing card not present transactions which are in the hundreds to thousands of dollars. If this is so difficult and such a tough task how are all of these other companies in business, how do they deal with chargebacks etc. I have so much to learn but i keep procrastinating and not getting anywhere with my business. Please suggestions, thank you in advance.
@newDG: I am not sure if I completely understand your business. Is it more of a way to find leads for different industries or is it a way for businesses to connect to one another? What makes you different from a let's say Facebook or Linked In? The next question would be once you are able to processes credit cards, are people aware of the monthly membership fee? My only concern for this company would be the high risk of charge backs that could occur with a monthly membership system. Not to say that I have not seen this system work before for different companies, but is is a huge concern, when the customer is not receiving a physical object in return. Just to let you know that I know many companies that have worked with GRAYPAY, who have set up similar systems like yours. I can understand your fears when you are just starting up a company and cash flow is so important. The main advice I would give to you is just be honest with any processor you choose. Honesty will help you in a long run. If you know that you have a processing limit of 35k but it is the middle of month and you are going to go over call up your processor before you hit that mark. If you go over without warning that gives any bank an automatic response to freeze your account until they review it. If you work with your processor they can go to bat for you and help you try and raise your processing limit. If you have other questions feel free to contact me.
Merchant girl I have seen you all over this forum basically just talking about graypay are you an affiliate or work forthw company? I don't mind but you should just into yourself as an employee and give people like me clear instructions on how everything works and i would be more than happy to work with the company, if not no problem. My website is very similar to a dating site just for business... You want to contact start ups.... You have to pay, we have a sales page tha pops up with three packages just like any dating site. And as far as chargebacks... I will just refund people their money I think that is just part of this business... .
My name is Jack Yasger, and I am an Inside Account Executive for iMerchant Direct. We are a licensed merchant services provider that specializes in providing credit card processing for unique or "hard to place" businesses. We have various solutions both International and Domestic, so we would be able to provide a solution that is cost effective and has fast funding. If you would like more information please feel free to contact me. I can be reached at or Skype at jack_y1986.