Merchant Accounts For Digital Streaming Services
An Overview
Digital Streaming Service Credit Card Processing
Why We Proudly Accept Digital Streaming Services As Merchants (Even When Many Processors Don’t)
Many credit card processors do not accept digital streaming services as clients, for several reasons.
- First, it is obvious, but most digital streaming services are eCommerce transactions. eCommerce sales, because they can’t involve a chip card or magnetic swipe, but instead have the customer typing in their credit card number, are more susceptible to fraud and friendly fraud chargebacks.
- Second, because digital streaming services almost always involve recurring billing, which as a categorical type of credit card charge, is more susceptible to high chargeback rates. Third, because digital services, whether they be mobile data streaming, data reselling, live-streaming, or other digital services are relatively new.
Often, credit card processing underwriters simply do not understand the industry or the service being offered, and out of an overabundance of caution, simply prohibit the industry entirely.
Soar Payments, by contrast, has been proud to serve the digital streaming industry since our company’s inception. Our extensive relationships with credit card processors and sponsor banks who specialize in underwriting businesses perceived as “high risk” enables us to confidently support these businesses (including data streaming businesses, mobile streaming apps, and all types of streaming-related apps). Moreover, our fully integrated chargeback and fraud prevention solutions, uniquely position Soar Payments to help protect our merchants from some of the inevitable risks endemic to this industry.
Frequently Asked Questions
Here are common questions specific to digital streaming service merchant accounts:
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What types of digital streaming businesses do you accept?
Soar Payments accepts a wide range of digital streaming related businesses, including apps and online services that specialize in content streaming, providing unlimited data, data streaming, streaming advertising, cord cutting, gaming live-streaming, mobile TV, and so on. Soar Payments accepts both startups and established businesses with previous credit card processing history.
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My digital streaming app or service uses recurring billing; what criteria does my subscription or recurring billing-based business need to meet, to be approved for a merchant account by Soar Payments?
To be approved, subscription or recurring billing-based businesses must meet the the following criteria: must not offer a 7 day or 14 day free trial (unless specifically approved by underwriting); must not offer “free plus shipping fee” deals bundled in with a free trial; unless specifically approved by underwriting the maximum recurring billing contract length must be 12 or fewer months; for providers who are reselling third party services the merchant account applicant must be able to supply reseller agreements with the service providers.
Want more information? Click here to read our extended list of our FAQ.
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Accept Retail, Mobile, Virtual Terminal or eCommerce Payments
Retail Payments
Retail businesses can choose from a traditional credit card terminal, wireless, or point of sale system. Whatever you choose, our retail merchant accounts will have you accepting credit and debit cards faster, and for less.
Mobile Payments
Want “on the go” mid or high risk credit card processing? Our mobile pay options are for you. Choose between iPad or mobile phone credit card swipers, compatible with both iPhone and Android devices.
Virtual Terminal Payments
Accepting payments over the phone, mail or typed in on your laptop is easy with our virtual terminal merchant accounts. No equipment needed. Just log in to your virtual terminal, and type in the customer’s credit card.
eCommerce Payments
Selling online? Our easy to use payment gateways are compatible with, and simply plug in to most major shopping carts. Our mid and high risk merchant accounts are streamlined for eCommerce businesses.
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