Tier 1 Quality eBook Merchant Account
An eBook merchant account is a specialized type of credit card merchant account designed for businesses that sell electronic books, popularly known as ebooks. These merchant accounts are customized to meet the unique requirements of online ebook stores and the digital publishing industry.
Adding an ebook payment gateway into an ebook website or mobile app is necessary, as it enables the store to receive online credit and debit card payments. Without an ebook payment gateway, your store cannot process digital transactions.
Choosing the right payment gateway for your ebook store is important for a better user experience, as well as implementing the required security parameters to ensure data security. Once you have selected the ebook payment gateway for your online business, then integrating it is generally very easy.
With an ebook payment gateway, you can experience better profits, as your customers will find ordering electronic books extremely easy on your website. You can use various tools in conjunction with the online payment gateway that encourage your users to buy new ebook titles on your website. This can help you boost repeat orders on your ebook store.
Unfortunately, many ebook merchants generally encounter rejections or very high fees when they apply with regular merchant service providers. Traditional credit card processing companies and payment service providers consider ebook merchants as high risk.
Why eBook Merchant Accounts Are High Risk
eBook merchant accounts are considered high risk due to several factors inherent in the digital publishing industry. This risk includes the potential for high chargebacks stemming from customers disputing transactions and seeking refunds. Additionally, ebook piracy poses a significant threat to the revenue streams of merchants, as well as the reputation of acquiring banks. Customers may also abandon purchases after sampling ebooks, resulting in revenue loss for ebook merchants. Disputes often arise over recurring billing subscriptions and free trial models, further complicating credit card transaction processing for ebooks.
Instances of friendly fraud, where customers mistakenly dispute valid transactions, are also prevalent in the industry, placing ebook vendors in a higher risk category. Some ebook vendors may have terms and conditions and refund policies that are difficult for customers to understand, leading to disputes. Overall, these factors contribute to the high-risk reputation of ebook merchants. Businesses operating in this sector require high-risk ebook merchant accounts. A partner like QuadraPay can simplify this process. Ask us today for a free quote.
QuadraPay for better eBook Payment Processing
QuadraPay specializes in providing credit card payment processing solutions for ebook merchants. We understand the unique challenges faced by businesses operating in this industry. With over 8 years of experience in assisting high-risk merchants, QuadraPay offers industry-best expertise and support to help ebook businesses obtain reliable merchant accounts. Our services include transparent pricing, lower transaction rates, and flexible options to meet the unique needs of ebook sellers, including both domestic and offshore credit card processing solutions. We focus on maximizing your profit and enhancing your customers’ experience while ensuring the full implementation of the required security parameters to prevent fraud transactions. With our solutions, qualifying merchants can get next-day funding for faster cash flow.
Features of eBook Merchant Account
eBook merchant accounts are supported by some of the best payment processing institutions in the nation. These accounts offer advanced features that fully support your business needs. Let’s explore some of the most in-demand features that come with ebook merchant accounts:
Acceptance of Credit, Debit, Gift Cards, and ACH Transfers: In today’s rapidly evolving world, new payment methods are introduced regularly. It’s crucial for merchants to ensure their accounts can accept all important payment methods. Our solutions enable merchants to accept major credit and debit cards, as well as gift cards and ACH transfers.
Additionally, our online ebook merchant account solution allows acceptance of over 50 additional payment methods.
Setup of Electronic Invoicing and Recurring Billing: With this feature, merchants can easily create and send electronic invoices to customers and set up recurring subscriptions for ebook sales. This enables automated and efficient payment collection for ebook stores.
Next-Day Funding: Many merchants qualify for next-day funding, where funds from credit card transactions are deposited into their business bank account within one business day. This provides faster access to funds and improves cash flow.
Fraud Detection Tools: Our payment gateway solutions for ebook sales include built-in tools that help identify and prevent fraudulent transactions. These tools carefully analyze transaction data for suspicious activity and patterns, enhancing the security of your payment processing account.
Competitive Rates with No Hidden Fees: We believe in offering transparent and competitive pricing structures. Our solutions come without any hidden fees or unexpected charges.
24/7 Customer Service Based in the United States: Our processing partners are located in the United States and provide round-the-clock support for account management, technical issues, and any additional queries or concerns you may have.
Timeline to Get an eBook Merchant Account
The timeline for approval of an ebook merchant account varies from 4 business days to 2 weeks. All of our solutions are powered by well-known credit card processing companies in the United States of America. These processing partners provide direct merchant accounts, which means the merchant will have full access to the merchant processing account for better usability. Although these accounts may not be as fast to set up as regular aggregated accounts, which you can start within 24 hours, they take a little bit longer for verification and approval.
If you provide all the required documents at once and your website is fully compliant with the requirements of our processing partner, you may start accepting credit and debit card payments on your website within 3 to 4 business days. However, if your account is declined by a domestic provider and then we approach an offshore merchant account provider, the approval timeline can take up to 2 weeks. For a better understanding of how much time it will take for you to get a merchant account, contact us today.
Rates and Fees for eBook Merchant Account
The rates and fees for ebook merchant accounts can vary depending on various factors, including the provider you choose and your business’s processing volume. Factors such as the types of credit cards accepted on your website can also impact the fees you incur. In general, ebook merchant account rates range between 1.9% to 2.99%. However, keep in mind that some merchants have to pay higher fees based on their risk profile. There are common fees that you’ll encounter when approved for an ebook merchant account:
Transaction Fees: This fee is typically a percentage of the transaction value and is charged each time a customer purchases an electronic book from your web store.
Monthly Fees: A monthly fee, also known as a gateway fee, is paid to the processing company each month, regardless of whether you process transactions. This fee generally ranges between $10 to $30.
Chargeback Fees: You pay a chargeback fee when a customer wins a dispute on a transaction. The provider charges this fee for each chargeback received, in addition to any funds deducted from your account. In the case of chargebacks, you’ll pay the chargeback fee, and the transaction funds will also be refunded to the customer who purchased the ebook.
We encourage you to carefully review the rates and fees provided by our partners for any ebook merchant account before signing the agreement. A detailed analysis of the terms will help you calculate the cost of ownership of ebook payment gateway. Additionally, feel free to ask any questions you may have regarding the merchant account offer.
KYC Documents for eBook Payment Processing
When you apply for an ebook payment processing account, you will need to submit certain Know Your Customer (KYC) documents. These documents help the underwriting team verify your identity and ensure full compliance with regulatory requirements. Here are some of the most common KYC documents required for an ebook merchant account:
Personal Identification Documents: You need to provide a government-issued photo ID, such as a driver’s license, passport, or national ID, displaying your name, photo, and date of birth.
Proof of Address: Both your residential and business addresses must be verified. You can submit approved address documents such as utility bills (electricity, gas, water), bank statements, or rental agreements.
Business Registration Documents: Ebook merchant accounts are available only to registered businesses. You must provide documents such as a certificate of incorporation, articles of organization, or partnership agreement to establish the legal existence of your ebook business.
Business Bank Account Information: You need to submit a letter from the bank confirming your bank account details or a voided check. The purpose of this document is to confirm the depository account where funds from card transactions will be sent by the merchant account provider.
Website URL and Terms of Service: As you’ll be selling ebooks online, you must provide proof of domain ownership. This can be a receipt of domain purchase or a screenshot of WHOIS information displaying your details. Your website must also have terms and conditions, privacy policy, and refund policy. The provider may ask you to submit PDF copies of these policies.
Depending on your unique business model, additional documents may be required. The underwriting team will inform you of these documents.
Application & Approval of eBook Merchant Account
The application process for an ebook merchant account is straightforward. All you need to do is provide us with basic details about your business, and we’ll contact you to guide you through the next steps. The approval process and criteria vary based on individual business needs. Once you provide the KYC documents and website information, our underwriting team carefully evaluates everything to determine whether to offer you our services. If approved, we’ll provide you with a term sheet and a merchant account agreement for review. This agreement will clearly outline the pricing and rates applicable to your merchant account.
We encourage you to thoroughly read the merchant account agreement and its annexure for pricing. This will provide you with a comprehensive understanding of the conditions you’re agreeing to and help you use the merchant account accordingly. In some instances, modifications to the merchant account agreement may be possible if needed. So, don’t hesitate – it’s time to get a high-quality ebook payment processing account. Contact Quadrapay today for fast approval.
Integration of eBook Payment Gateway
Our payment solutions offer a variety of integration options. For mobile apps selling ebooks, we provide detailed mobile SDK integration tools. If you plan to sell electronic books on your website, we offer ready-to-use plugins for common E-Commerce platforms like WordPress, Magento, OpenCart, Shopify, and many more. Our merchant account solutions can be easily integrated with well-known gateways like Authorize.net and NMI. Additionally, our solutions can seamlessly integrate with popular accounting software used by ebook companies.
FAQ eBook Payment Processing
How does QuadraPay Consider Applicants with a Bad Credit History?
Our processing partners are open to working with merchants regardless of their credit history, irrespective of the industry they operate in. We proudly offer bad credit merchant accounts in the United States of America. If an ebook merchant is facing challenges with their credit score, our processing partners will evaluate both the business’s financial history and the personal credit history before making a decision. In some cases, a personal guarantee may be required, but this is discussed on a case-by-case basis.
Suggested readings
https://www.futuremarketinsights.com/reports/global-ebook-market
https://www.technavio.com/report/e-book-market-industry-analysis
