Merchant Accounts For Non-Profit 501(c)(3) Businesses
An Overview
SoarPay offers credit card processing solutions for non-profits.
Why We Proudly Offer Solutions for Non-Profit Businesses
Non-profit (501c3) businesses such as religious organizations, charities dedicated to causes such as poverty elimination, environmental protection, education, childcare, and more, are incredibly important. Sometimes non-profits can have trouble getting merchant accounts to process payments for a number of reasons:
- New non-profits may have owners/operators who have never previously had a merchant account. In some cases banks and processors might be hesitant to approve a first time applicant.
- Some non-profits want to set up recurring billing for their supporters. This can sometimes lead to increased chargeback risk if customers forget about their monthly donation.
- Some non-profits want to process transactions online or over-the-phone. These “card not present” transactions are considered higher risk and can lead to more difficulty in getting approved.
Unlike some banks and other payments businesses who struggle to work with non-profits, Soar Payments, has consistently offered solutions for the non-profit industry since our founding. Our extensive relationships with credit card processors and sponsor banks who have the capability to underwrite regulated industries, in addition to our integration of chargeback and fraud prevention software, uniquely positions Soar Payments to provide nonprofit businesses with stable, effective, long term credit card processing solutions.
Frequently Asked Questions
Here are common questions specific to nonprofit merchant accounts:
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What types of nonprofit businesses do you service?
Soar Payments offers merchant processing solutions for a wide range of retail, eCommerce and mobile-based nonprofits. These include Religious, Educational, Charitable, Scientific, Literary, Testing for Public Safety, nonprofits that Foster National or International Amateur Sports Competition, or Prevention of Cruelty to Children or Animals Organizations.
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Do I need to provide supporting documents which confirm my organizations 501c3 status?
Yes. When you submit your application, the banks require proof of your organizations 501c3 status and good standing. If you cannot provide this, then unfortunately we would not be able to move forward with approval of the merchant account.
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Do you accept non-profits which want to process payments online?
Absolutely! If your nonprofit wants to process payments on your website, or via a virtual terminal (over the phone, or emailing invoices to supporters) then we absolutely can work with you. Soar Payments specializes in offering businesses who wish to process “card not present” transaction merchant account options.
Want more information? Click here to read our extended list of our FAQ.
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Types of Non-Profit 501(c)(3) Merchant Accounts
Soar Payments offers a full-array of merchant accounts to nonprofit (501c3) organizations. These include:
Retail Payments
A retail merchant account for nonprofits enables businesses to accept face-to-face debit and credit card payments via a traditional credit card machine or point of sale system.
Ideally suited to a storefront, office, or retail setting with reliable internet access, retail apparel credit card processing accounts typically have the lowest chargeback and fraud risk and as a result are afforded the lowest credit card processing pricing.
Mobile Payments
A mobile merchant account for non-profits enables your organization to accept face-to-face credit and debit card payments via a swiper that plugs into your mobile phone or iPad.
Appropriate for NPOs that frequently conduct face-to-face sales or accept donations outside of a storefront, such as at charity drives, mobile accounts are priced similarly to retail, due to their lower chargeback risk.
Virtual Terminal Payments
Also called a payment gateway merchant account, a virtual terminal enables non-profit organizations to accept payments over the phone, via mail, or typed into a computer (without needing outside equipment). They also have invoicing solutions which allow the merchant to email an invoice to the customer, which they can pay online.
A non-profit payment gateway account is ideal for organizations that accept payments/donations over the phone, or via mail order. Virtual terminal payments are particularly vulnerable to fraud, therefore Soar Payments offers integrated chargeback protection.
eCommerce Payments
An eCommerce nonprofit merchant account allows you to accept credit card payments via your website’s online shopping cart.
Our eCommerce credit card processing accounts integrate seamlessly with most major payment gateways and shopping cart software, making setup simple. Online non-profit (501(c)(3) payments are vulnerable to fraud and chargebacks, consequently, we offer pre-integrated fraud protection technology.
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