What is High Volume Credit Card Processing?
High-volume credit card processing happens when a merchant processes more than $100,000 per month. While there are many industries that can be classified as high-volume, businesses that collect regular monthly payments from the same customers are the most likely to need a high-volume account.
Monthly Membership Websites
Many people have learned how to offer their knowledge and expertise in a certain niche by providing a subscription to digital content. Members pay a monthly fee in exchange to access to a restricted site. Benefits include instructional courses, videos, forums, and live webinars. Some membership sites also offer social networking with other members. Payments for membership are usually processed every month on a specific date.
Health Clubs and Gyms
Health Clubs and Gyms provide access to weights, machines, and educational classes for people who want to stay fit and healthy. Members usually have access to better equipment and a wider variety of options for their monthly fee than if they would purchase their own equipment at home. They also receive a social benefit from working out with others. Health club memberships are also processed on a monthly basis, so larger clubs usually need high volume credit card processing services.
Magazine subscriptions are also part of an industry that collects regular payments from customers. While magazines are usually purchased in yearly subscriptions, they are usually renewed by customers throughout the year. A popular magazine can process high volumes of renewals every month.
Property Management Companies
Some property management companies are accepting rent payments by credit or debit card. While this helps them receive payments on time from tenants, a company with a significant amount of properties can easily fall into the category of needing a high volume credit card processor.
CDKPay Provides Stress-Free High-Volume Credit Card Processing
When merchants become successful and see growth in their monthly sales volumes, this can cause a problem with their merchant account. Local banks tend to look past the potential for more profit and focus only on the higher risk for fraud and chargebacks. Sometimes they will place a volume cap on the account.
If you have a high volume business and need help with credit card processing, CDKPay can provide the expertise that you need. We can eliminate the hassle by matching you with a bank that understands high volume accounts. We help you complete the paperwork and manage the entire application process.
CDKPay Helps You Manage Risk
If you process a high volume of transactions, you are probably concerned about risk. We have a well-trained staff of experts who provide extensive risk management and fraud detection services. CDKPay helps you protect your account and reduce the amount of chargebacks you receive.
CDKPay is experienced in helping businesses find the right merchant account for your business model.