Visa and immigration consultancy businesses, they all operate in a highly specialized industry where clients expect such businesses to offer global payment options. Whether you’re just helping travelers to apply for visas or you’re supporting students with study permits or you’re guiding professionals with work and residency application, by having the right merchant account connected to your website, you will be able to serve in a better way. When you apply for a merchant account for visa or immigration services, make sure that you look at some of the following factors.
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Visa and immigration consultancy businesses are often classified as high-risk industry by most of the regular banks and payment processors, this is due to international transactions, possibility of chargebacks, and regulatory complexities involved in this industry. That is why a standard merchant account may not be the best option for you.
A high-risk merchant account will ensure that your business can accept payments without frequent holds or account shutdowns and delayed payments. Next, you have to look at the multi-currency support because your clients will come from different parts of the country and you must offer them the ability to make payments on your website in their local currency. So, make sure that your payment service provider offers you US dollars, GBP, CAD, AUD, and other currencies for processing. This will help you build trust with your customers and also help reduce friction.
It is absolutely okay to look for credit cards processing for your visa and immigration business. However, you should not ignore alternative payment methods. This is because your customers will come from different countries and they may have their own preferences for local payment methods. Your website should accept options like Alipay, UPI, Sofort and other alternative payment methods.
When you work with the robust payment processors, they will let you accept various alternative payment methods along with well-known credit cards like Visa, Master, American Express and Discover.
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Visa service businesses involve staged payments. That means they charge the service fee in steps. This can include consultation fee, application fee, documentation fee. This is why you need a system that will allow you to accept recurring billing or installment payments. This will make it easier for your clients to make payments to you and it will also enhance your cash flow.
Immigration services can sometimes attract fraudsters and that is why it is extremely important for you to ensure that your payment solution comes with advanced fraud screening, chargeback alerts, and dispute management systems. This will help to keep your business protected and also will help extend the life of the merchant account.
Along with that, the last and the most important thing is that the payment solution that you use must integrate well with your website. This is because just like visa services, your payment system should also be available around the clock. When you use a secure online payment gateway that offers comprehensive API integration, this will ensure that you can collect payments through your website and mobile application anytime. This will also ensure that the integration of the payment system on your website or mobile application will be extremely easy.
Most solution providers these days offer ready-made plugins that can be integrated on platforms like WordPress, WooCommerce, Shopify, and others.
When you partner with the right payment processor that has experience in serving visa and immigration consultants, this will give you enormous benefits. You will be able to focus on helping your clients get their visa while your merchant account provider takes care of setting up and maintaining the transaction processing solution for you.