If you’ve spent any time online, you’re aware of the large market for digital items. You will require a merchant account equipped to handle these kinds of transactions if you wish to enter the world of digital goods. A wide range of payment methods, including credit cards, debit cards, and recurring payments, must also be supported by your system. Here are the best merchant accounts for digital goods.
The flip side of this is that you don’t have to master every nuance of this intricate industry because your payment processor must be knowledgeable and experienced in everything.
Online sales of products and services are a relatively common business model nowadays. You don’t need a lot of startup money to do this, but it makes a lot of money. The fact that you don’t need to invest a fortune is one of the key reasons why every organization, large or little, wants to move online.
Online retailers offer digital products that can be used on a computer, phone, tablet, or another device. When you buy digital products, you don’t buy the items that make up a physical object; instead, you buy pieces of information. These include items such as eBooks, music, movies, video games, and much more.
You don’t need to buy any inventory or hire an office space to sell goods online. All you would require is a working website that can provide customers with high-quality products and has a safe and secure digital payment capability.
The problem is right here! The primary concern is setting up a secure and fully functional digital payment processor. Nowadays, the majority of people are comfortable making payments online, therefore if your company is not prepared, there is a probability that it may fail.
Application and approval for a payment gateway for digital goods are simple processes. However, in other situations, such as with a high-risk e-commerce business, getting clearance can be challenging. You might even get turned down multiple times. If your company falls into the dangerous business category, you may need a trustworthy payment processor who can offer you a digital products payment gateway because many general banks might not approve you for it.
Customers of online stores have access to a large selection of goods. When a customer has finished shopping, payment must be made to confirm the order. Here is where a reliable digital products payment processor that allows your customers to make payments in your merchant account should be present on your website or mobile application.
Now, you need the following steps to accept payments online:
Businesses must implement a similar-functioning digital products payment processing service and start secure payments for this procedure to go smoothly.
It is a business account used by retailers who offer digital goods in large quantities to collect payments. Products like games, software applications, and audiovisual media, such as books, movies, and music, are examples of digital commodities that are given via electronic technology.
However, the majority of traditional payment providers and banks frequently view businesses in this category as high risk. This makes it challenging to meet the requirements for reasonable payment processing rates, assuming any supplier will cooperate with you at all.
Since these companies are high-risk, payment processors are the main obstacle for the merchants. Digital products businesses fall under this high-risk category due to a few related variables.
If you can locate a supplier willing to deal with you, the abovementioned issues make it challenging for large digital goods retailers to qualify for excellent payment processing rates. Banks frequently don’t want to deal with the issues brought on by high-risk firms.
You may have had some trouble finding a reasonable merchant account that suits your needs if you offer digital products. Fortunately, as e-commerce becomes more prevalent, more credit card processors are emerging that provide services like online shop builders, marketing tools, and accounting software integration at affordable prices.
The finest merchant accounts for digital goods are listed here to assist you to pick a service that suits your needs. The businesses on this list include software integration, e-commerce solutions, marketing tools, and other practical resources for running a digital goods company.
Additionally, they are recognized for proposing low-commitment contracts with clear pricing and exceptional customer service. Do your homework on the items and features of each processor, as well as price and term comparisons, to choose the best seller for your digital goods.
Host Merchant Services is situated in Newark, Delaware. Most digital goods businesses can benefit from Host Merchant Services’ merchant account offerings. Online marketing tools, an online payment gateway, and virtual terminal, mobile credit card processing, gift and loyalty programs, merchant cash advances, and offshore merchant accounts are just a few of the company’s goods and services. A free website and email address are offered to interested merchants by Host Merchant Services, which specializes in e-commerce firms. Except for a few high-risk business models, Host is a wonderful fit for all standard-risk digital product sellers.
On public forums, Host Merchant Services has only encountered favorable reviews. The majority of commenters singled out the business’s customer service for appreciation. The interchange-plus price, which has no early termination fees, is available to all of Host’s merchants. Customers have access to the most transparent pricing structure and are free to terminate service at any time without paying any fees.
PaymentCloud is a merchant account service with a base in Woodland Hills, California. It focuses on working with standard to high-risk company models. Point-of-sale solutions, swipers for mobile devices, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances are just a few of the company’s goods and services. PaymentCloud is a wonderful option for selling digital items because of its wide range of payment options.
For the duration of the account, PaymentCloud assigns each new merchant a dedicated account representative. The company tailors its price to each merchant’s business kind and processing history, and it has not received any unfavorable complaints on consumer forums.
CDG Commerce is situated in Chesapeake, Virginia. It is a fantastic choice for American-based vendors of standard-risk digital goods. Since 1998, CDG has operated under private ownership.
It provides a virtual terminal, QuickBooks connection, sales reporting, security breach protection, and vulnerability screening in addition to its payment gateway and a discount on Authorize.Net. Selling e-books, music, movies, and software online is made simple, affordable, and seamless with CDG Commerce.
No yearly fees, monthly minimums, or termination costs are included in CDG Commerce’s competitive contractual terms, which only include a small, flat price per transaction. Additionally, CDG provides same-day finance to most businesses kinds.
National Processing provides a variety of small company processing alternatives, and it can help online merchants choose the best POS system or virtual terminal for their requirements. The company has two pricing options, both of which have competitive pricing: one is the interchange-plus program and the other is the “zero-fee” program.
With only one complaint made in the previous three years, National Processing maintains an impeccable reputation. According to our unbiased evaluation, National Processing is a good choice for the majority of online businesses.
The company’s main product is an e-commerce platform for online retailers. It also provides point-of-sale software for iPad and iPhone users. The Shopify POS software comes with the feature of inventory syncing with an online store, emailed receipts, automatic tax calculations, useful email marketing function, and an easy in-store refund process. It can process payments via a headphone jack card swiper or a $129 EMV reader. People making digital transactions will benefit greatly from these online payment choices. Furthermore, they will feel secure and at ease utilizing the service since Shopify’s well-known brand.
A Shopify online store offers a variety of customization choices. It can also be used in conjunction with the Shopify payment service. Digital vendors who want to accept payments both in-person and online through their phones may consider Shopify POS.
Accounts for Easy Pay Direct merchants are simple to use. Both signing up and getting started are simple processes. There will be no need for you to waste time looking around for the best deals, the best customer service, or the best reviews. Your application for a digital products merchant account may be granted based on the following factors:
For a variety of digital goods firms, Signature Payments offers merchant accounts. For more than 20 years, businesses have been able to use merchant accounts from Signature Payments to purchase digital items. It specializes in assisting high-risk industry businesses obtain authorization for secure payment processing. Digital downloads, streaming media, site design, gaming services, and telecom are just a few of the industries that accept payments through Signature Payments. As leaders in the field, Signature Payments has a team of internal experts prepared to assist you in obtaining approval for your digital products merchant account so you can start taking online payments right away.
Given the particular requirements of sellers of digital goods and Signature Payments’ experience in the high-risk market, it is ideally placed to give you the solutions and assistance you require to expand your business.