How to Secure Your Career as a Business Coach with a Merchant Account

There’s no doubt that business coaching is a lucrative career. It’s a service that reaches any and all business types. From startups looking for help on maximizing growth to established businesses seeking assistant with staying relevant, there’s always a market.

As the world moves furthering into remote and online-only experiences, having an online storefront for your business coaching services is incredibly important. While there are many easy ecommerce site builders like WordPress, not all payment gateways work with business coaches which are high-risk.

Coaching Businesses Are Considered High Risk

Many Business Coaches Sell High Ticket Programs

There are several reasons why a business type might be labeled high-risk. For a business coach, one of the biggest reasons is because of high ticket services. When selling an expensive service online, there’s a greater risk for loss when it comes to chargebacks. That’s a red flag for banks and credit card processing.

Chargebacks occur when a customer wants to request a refund directly from their bank or payment service (e.g., PayPal) without contacting you. The bank issues a refund to them, takes the money from your account along with a fee. That fee is exceptionally high for high-risk businesses.

Chargebacks also occur with businesses that aren’t labeled as high-risk. So why do they treat your coaching business differently?

Because You Sell Intangible Services

In fact, business coaching can easily be described in more than one category that constitutes high-risk businesses.

You’re selling a service, not a product. There is a risk associated with selling something that can neither be physically received nor objectively validated. Essentially, the reputation of your company rests on how much your clients enjoy your service. If a client did not get the outcome they expected from your seminar/meeting/program, then they often request a refund through their bank. That can lead to chargebacks which banks want to avoid at all costs.

Selling subscriptions or tickets to future events (i.e., setting up a meeting that’s been paid for in advance, or tickets to a future seminar) is another red flag for banks. If the customer isn’t receiving their product right away, then there’s potential for cancelations that lead to chargebacks.

Both of these paint business coaching or high-risk businesses, in general, in a completely negative light or as if chargeback ratios are through the roof. That’s not necessarily true and you shouldn’t be deterred from starting your business. Merchant accounts designed for high-risk businesses should have chargeback and fraud protection, like what you’ll find with DirectPayNet.

There Are Great Fluctuations in Sales

Following high ticket services, many high-risk businesses have great fluctuations in sales. One day you might sell hundreds of thousands worth of products/services followed by a heavy drought. Again, the biggest issue with this is chargebacks.

Businesses that aren’t labeled as high-risk also have fluctuations in sales, but not as drastically. Banks want some level of steady income so when a chargeback occurs, there is money in the account to withdraw from. With high-risk businesses, banks might have to withdraw from a depleted account or send a positive account into the negative, and that’s not good for their bottom line.

High-Risk Merchant Accounts Ease the Restrictions (and Fees) for Businesses

Services like Stripe and PayPal are convenient and well-known across the world. But they enforce a lot of restrictions and charge high fees for high-risk businesses.  Stripe suspends merchants often if there are a couple of disputes. So, while it is possible to use these services to some extent for your business, it will more than likely be met with account freezes and severe losses in profit. Read more about the risks of working with Stripe here

To remedy this situation, high-risk merchant accounts offer the same ease-of-use customers enjoy without the constant fear of having your account closed. They allow you to scale your business without worry.

All Major Credit and Debit Cards Are Accepted

With merchant account services, you can expect your site’s checkout to allow debit card and credit card payments from all major providers. Mastercard, Visa, and even bank account transfers are possible.

The attraction for sellers to use a service like PayPal is often related to its convenience and familiarity. But PayPal is rarely the only option available on any online storefront for buyers. Many of the issues faced with Stripe, arise when dealing with PayPal. You don’t want your PayPal account frozen because of a misunderstanding with a customer. Also, buyers expect multiple payment methods and not all buyers even use PayPal. So, your safest method is to use a merchant account that can cover the most widely used payment systems.

Merchant Accounts Offer Fraud Prevention

One of the biggest pain points for issuing banks and other services is the risk of fraud and chargebacks associated with high-risk businesses. Specifically for the business coaching industry, performing business online or over the phone increases the risk of fraud.

Your coaching merchant account portal and representative will help you avoid fraud. Designed around high-risk merchants, merchant accounts are adept at identifying fraudulent behaviour and suspicious activity before it’s too late. You’ll be protected against fraud, not punished if it happens.

You Have the Flexibility to Grow

One of the greatest benefits for operating an online business is the potential for exponential growth. Merchant accounts help you scale—even worldwide, whereas many other online payment gateways either don’t have global functionality or force expensive upgrades.

With a high-risk merchant account, payment processing solutions match your needs as a business owner. Your representative will work use their ongoing relationship with banks to provide the functionality you need.

Your monthly volume limits can easily increase as you continue to produce low chargeback ratios, which the right merchant account provider should assist with.

Chargeback Protection Is Included

A good high-risk merchant account includes some level of chargeback protection. After all, chargebacks are one of the deciding factors payment processors use against you. Merchant account providers, including DirectPayNet, help you stay on top of chargebacks to ensure they don’t hinder your growth. You can flag suspicious sales and utilize metrics like fraud or chargeback ratios to help you stay aware.

Security for Your Business and Your Customers

Payment providers often put protection for the customer above everything. And that’s a great thing, on the surface. But in the end, the bank or provider is what allows a chargeback to happen by accepting the request from a customer. Customer support should be available for both parties: the seller and the buyer.

To manage this risk on the seller-side, merchant accounts give you quality analytics of performance, buying, and safety metrics related to the payments you receive (e.g., credit card transactions. In addition, a good merchant account representative will help you craft and enforce a strong refund policy. Your policy should reflect the needs, concerns, and trends of the customer while protecting your business.

Don’t let banks hold you back. Use a merchant account for your coaching service—whether it’s as a business coach, life coach, relationship coach, or otherwise.

DirectPayNet’s merchant services services will help your business stay live, online, and scale. With the right tools, there is unlimited potential for growth. Tools not only include consumer-facing payment options, but also protections for your business. Our representatives will analyze your business needs and use their connections with issuing banks to give your business the payment gateway it deserves.

Contact us today and we’ll guide you through the merchant account application process as well as inform you of the benefits you can expect for your growing business.

Comments

37 responses to “How to Secure Your Career as a Business Coach with a Merchant Account”

  1. тегн binance акаунты Avatar

    Your point of view caught my eye and was very interesting. Thanks. I have a question for you. https://accounts.binance.com/kz/register?ref=UM6SMJM3

  2. 搜狗输入法Linux版免费下载 Avatar

    I don’t even understad how I finished up here, but I thought this put up was good.
    I do not understand who you might be but certainly you are
    going to a famous blogger for thosse who are not already.
    Cheers!

    Here is my website – 搜狗输入法Linux版免费下载

  3. 搜狗输入法Linux版免费下载 Avatar

    I don’t even understad how I finished up here, but I thought this put up was good.
    I do not understand who you might be but certainly you are
    going to a famous blogger for thosse who are not already.
    Cheers!

    Here is my website – 搜狗输入法Linux版免费下载

  4. 搜狗输入法Linux版免费下载 Avatar

    I don’t even understad how I finished up here, but I thought this put up was good.
    I do not understand who you might be but certainly you are
    going to a famous blogger for thosse who are not already.
    Cheers!

    Here is my website – 搜狗输入法Linux版免费下载

  5. 搜狗输入法Linux版免费下载 Avatar

    I don’t even understad how I finished up here, but I thought this put up was good.
    I do not understand who you might be but certainly you are
    going to a famous blogger for thosse who are not already.
    Cheers!

    Here is my website – 搜狗输入法Linux版免费下载

  6. Zoom Rooms系统设置 Avatar

    What’s up to every one, it’s really a fastidious for mee to go to see thgis web page, it includes importnt Information.

    my webpage Zoom Rooms系统设置

  7. Zoom Rooms系统设置 Avatar

    What’s up to every one, it’s really a fastidious for mee to go to see thgis web page, it includes importnt Information.

    my webpage Zoom Rooms系统设置

  8. Zoom Rooms系统设置 Avatar

    What’s up to every one, it’s really a fastidious for mee to go to see thgis web page, it includes importnt Information.

    my webpage Zoom Rooms系统设置

  9. Zoom Rooms系统设置 Avatar

    What’s up to every one, it’s really a fastidious for mee to go to see thgis web page, it includes importnt Information.

    my webpage Zoom Rooms系统设置

  10. telegram 中文版 Avatar

    Its like you read my thoughts! Youu seem to grasp a lot approximately this,
    such as you wrote the e book in iit orr something. I believe that you ccan do with some % to drive the message house a bit, howver instead of that, that is wonderful blog.

    A great read. I’ll definitely be back.

    Here is my homepage … telegram 中文版

  11. telegram 中文版 Avatar

    Its like you read my thoughts! Youu seem to grasp a lot approximately this,
    such as you wrote the e book in iit orr something. I believe that you ccan do with some % to drive the message house a bit, howver instead of that, that is wonderful blog.

    A great read. I’ll definitely be back.

    Here is my homepage … telegram 中文版

  12. telegram 中文版 Avatar

    Its like you read my thoughts! Youu seem to grasp a lot approximately this,
    such as you wrote the e book in iit orr something. I believe that you ccan do with some % to drive the message house a bit, howver instead of that, that is wonderful blog.

    A great read. I’ll definitely be back.

    Here is my homepage … telegram 中文版

  13. telegram 中文版 Avatar

    Its like you read my thoughts! Youu seem to grasp a lot approximately this,
    such as you wrote the e book in iit orr something. I believe that you ccan do with some % to drive the message house a bit, howver instead of that, that is wonderful blog.

    A great read. I’ll definitely be back.

    Here is my homepage … telegram 中文版

  14. 官方向搜狗输入法安装教程 Avatar

    Howdy just wanted to give you a quick heads up. Thee words in your
    article seem to be running off the screen in Opera.
    I’m nnot sure if this iss a formatting iasue or something to do with internet browser compatiblity but I thought I’d post
    to let you know. The esign look great though! Hope you get the problem resolved soon. Kudos

    Feel free to visit my pasge 官方向搜狗输入法安装教程

  15. 官方向搜狗输入法安装教程 Avatar

    Howdy just wanted to give you a quick heads up. Thee words in your
    article seem to be running off the screen in Opera.
    I’m nnot sure if this iss a formatting iasue or something to do with internet browser compatiblity but I thought I’d post
    to let you know. The esign look great though! Hope you get the problem resolved soon. Kudos

    Feel free to visit my pasge 官方向搜狗输入法安装教程

  16. 官方向搜狗输入法安装教程 Avatar

    Howdy just wanted to give you a quick heads up. Thee words in your
    article seem to be running off the screen in Opera.
    I’m nnot sure if this iss a formatting iasue or something to do with internet browser compatiblity but I thought I’d post
    to let you know. The esign look great though! Hope you get the problem resolved soon. Kudos

    Feel free to visit my pasge 官方向搜狗输入法安装教程

  17. 官方向搜狗输入法安装教程 Avatar

    Howdy just wanted to give you a quick heads up. Thee words in your
    article seem to be running off the screen in Opera.
    I’m nnot sure if this iss a formatting iasue or something to do with internet browser compatiblity but I thought I’d post
    to let you know. The esign look great though! Hope you get the problem resolved soon. Kudos

    Feel free to visit my pasge 官方向搜狗输入法安装教程

  18. Signal非营利隐私工具 Avatar

    I’m really loving tthe theme/design of your website. Do you ever run into any internet browser compatibility problems?

    A number of mmy blog visitors have complained about my wevsite not operating correctly in Exlorer but looks great in Opera.
    Do you have any recommendations to help fix thiss issue?

    Feel free to visit my blog post; Signal非营利隐私工具

  19. Signal非营利隐私工具 Avatar

    I’m really loving tthe theme/design of your website. Do you ever run into any internet browser compatibility problems?

    A number of mmy blog visitors have complained about my wevsite not operating correctly in Exlorer but looks great in Opera.
    Do you have any recommendations to help fix thiss issue?

    Feel free to visit my blog post; Signal非营利隐私工具

  20. Signal非营利隐私工具 Avatar

    I’m really loving tthe theme/design of your website. Do you ever run into any internet browser compatibility problems?

    A number of mmy blog visitors have complained about my wevsite not operating correctly in Exlorer but looks great in Opera.
    Do you have any recommendations to help fix thiss issue?

    Feel free to visit my blog post; Signal非营利隐私工具

  21. Signal非营利隐私工具 Avatar

    I’m really loving tthe theme/design of your website. Do you ever run into any internet browser compatibility problems?

    A number of mmy blog visitors have complained about my wevsite not operating correctly in Exlorer but looks great in Opera.
    Do you have any recommendations to help fix thiss issue?

    Feel free to visit my blog post; Signal非营利隐私工具

  22. Zoom教育视频会议下载 Avatar

    It’s actually a cool and helpful piece of info. I am glad
    that you shared this helpful infirmation with us. Please kep us informned like this.

    Thank you for sharing.

    My blog Zoom教育视频会议下载

  23. Zoom教育视频会议下载 Avatar

    It’s actually a cool and helpful piece of info. I am glad
    that you shared this helpful infirmation with us. Please kep us informned like this.

    Thank you for sharing.

    My blog Zoom教育视频会议下载

  24. Zoom教育视频会议下载 Avatar

    It’s actually a cool and helpful piece of info. I am glad
    that you shared this helpful infirmation with us. Please kep us informned like this.

    Thank you for sharing.

    My blog Zoom教育视频会议下载

  25. Zoom教育视频会议下载 Avatar

    It’s actually a cool and helpful piece of info. I am glad
    that you shared this helpful infirmation with us. Please kep us informned like this.

    Thank you for sharing.

    My blog Zoom教育视频会议下载

  26. Katherina Avatar

    What’s up to every one, since I am in fact eager of reading this website’s post to be updated daily.
    It consists of nice data.

    Feel free to surf to my site :: Katherina

  27. Katherina Avatar

    What’s up to every one, since I am in fact eager of reading this website’s post to be updated daily.
    It consists of nice data.

    Feel free to surf to my site :: Katherina

  28. Katherina Avatar

    What’s up to every one, since I am in fact eager of reading this website’s post to be updated daily.
    It consists of nice data.

    Feel free to surf to my site :: Katherina

  29. Katherina Avatar

    What’s up to every one, since I am in fact eager of reading this website’s post to be updated daily.
    It consists of nice data.

    Feel free to surf to my site :: Katherina

  30. WPS Office演示者模式教程 Avatar

    Howdy superb blog! Does running a blogg like thyis requite a great deal of work?

    I have virtually no knowledge of programming however I
    hhad been hoping to start my own blog in the near future.

    Anyhow, should you have aany suggestions or techniques
    for new blog owners please share. I understand this is offf topjc but I
    just haad to ask. Kudos!

    Heree is my web-site: WPS Office演示者模式教程

  31. WPS Office演示者模式教程 Avatar

    Howdy superb blog! Does running a blogg like thyis requite a great deal of work?

    I have virtually no knowledge of programming however I
    hhad been hoping to start my own blog in the near future.

    Anyhow, should you have aany suggestions or techniques
    for new blog owners please share. I understand this is offf topjc but I
    just haad to ask. Kudos!

    Heree is my web-site: WPS Office演示者模式教程

  32. WPS Office演示者模式教程 Avatar

    Howdy superb blog! Does running a blogg like thyis requite a great deal of work?

    I have virtually no knowledge of programming however I
    hhad been hoping to start my own blog in the near future.

    Anyhow, should you have aany suggestions or techniques
    for new blog owners please share. I understand this is offf topjc but I
    just haad to ask. Kudos!

    Heree is my web-site: WPS Office演示者模式教程

  33. WPS Office演示者模式教程 Avatar

    Howdy superb blog! Does running a blogg like thyis requite a great deal of work?

    I have virtually no knowledge of programming however I
    hhad been hoping to start my own blog in the near future.

    Anyhow, should you have aany suggestions or techniques
    for new blog owners please share. I understand this is offf topjc but I
    just haad to ask. Kudos!

    Heree is my web-site: WPS Office演示者模式教程

  34. 免费雷电模拟器历史版本 Avatar

    It’s wonderful that you are getting thoughts fromm this paragraph as well as from our discussion made here.

    My web site – 免费雷电模拟器历史版本

  35. 免费雷电模拟器历史版本 Avatar

    It’s wonderful that you are getting thoughts fromm this paragraph as well as from our discussion made here.

    My web site – 免费雷电模拟器历史版本

  36. 免费雷电模拟器历史版本 Avatar

    It’s wonderful that you are getting thoughts fromm this paragraph as well as from our discussion made here.

    My web site – 免费雷电模拟器历史版本

  37. 免费雷电模拟器历史版本 Avatar

    It’s wonderful that you are getting thoughts fromm this paragraph as well as from our discussion made here.

    My web site – 免费雷电模拟器历史版本

Leave a Reply

Your email address will not be published. Required fields are marked *