Drop Shipping Merchant Account – Make It Easy.
Hundreds of websites on the Internet claim that they can offer you a dropshipping merchant account in India, but in reality, very few sites have the capability of assisting you with the right solution. There is a fundamental challenge attached to Dropshipping industry. This industry has traditionally attracted a high amount of chargebacks and also puts the acquiring institutions into huge credit risk at times. Still, there may be a possibility that one of our payment processing partners may approve your drop shipping merchant account. Before you make an application with us, it would be nice if you understand the requirements.
Be ready with your website for Dropshipping Business.
Drop Shipping Supplier Agreement.
No matter what processing solution you are looking for Credit Card Processing, Debit Card processing, ACH Echeck processing, or AMP, our processing partner may ask for the supplier’s agreement. Most of the manufacturers would be comfortable in signing a supplier agreement with you if you buy products from them. The processing company would require a copy of the supplier agreement.
KYC Documents For Your Dropshipping Merchant Account
For the Dropshipping merchant account, the processor would ask for all the KYC documents. These include the business license, Identification proof of all the directors, Utility bill of your Business, Void Check, and Suppliers agreement. Apart from these, the credit card processing company may ask for additional documents on a case by case basis.
Previous Processing Statement.
Many Dropshipping merchants may have Paypal or Stripe statements. Please do not hide these statements. It would help if you proactively shared your recent processing statements with your new acquiring institution. This will help the high-risk processor to understand your monthly sales volume as well as your risk profile — the chances of getting approved increases significantly if you provide the recent processing statement.
Echeck No.1 Option For drop Shipping.
For dropshipping merchants, we recommend echeck as a mode of payment processing. If your monthly sales volume is high, then you can also qualify for 72 hours echeck. Most of the electronic cheque processing companies offer API integration, which allows businesses to integrate electronic check easily as a preferred mode of payment for the dropshipping website.
Rates and Fees for Drop Shipping Merchant Account
You will have to be ready for setup charges. The processing company will also charge a rolling reserve. I hope this helps. Happy Processing.