In the realm of accounting and tax preparation, the goal is to extend a helping hand to as many individuals as possible, be it during the hectic tax season or throughout the entire year. To achieve this, one must secure an accounting tax prep merchant account to facilitate credit card transactions.
However, the process of finding a suitable credit card processing provider may prove to be more challenging than initially thought. Traditional banks are likely to reject your application, as they perceive this industry as high-risk or difficult to accommodate, from the perspective of acquiring banks.
Moneybox offers Credit Card Processing for Accountants and Accounting Firms. Contact us today to save money!
Individuals and businesses frequently require accounting and tax services, making it an excellent industry for entrepreneurs with accounting and tax knowledge to serve. However, many processors are hesitant to accept all types of businesses offering accounting and tax services due to three main reasons. ALL service industries have similar issues.
Many Accountants, Accounting Firms and Tax service businesses want to offer services and process credit cards over the phone or online. These “card not present” transactions pose a higher risk profile than some processors and banks are willing to work with. Moneybox has online invoicing solutions for your business to avoid this.
Second, accounting and tax businesses have a moderately high chargeback rate. This is often due to customers being frustrated with not receiving tax refunds they expected or feeling they owe too much in taxes a situation often beyond the control of the tax business. All service business have customers that feel like should not be billed for the work that was done for them. We have seen this many times where a customer just charges back the bill because they feel they should not have to pay. Moneybox has security solutions to help prevent frivolous chargebacks.
As a result of these risks, many merchant services providers decline to accept any tax or accounting business, whether they operate as an online store, a physical retailer, or even a manufacturer, wholesaler, or distributor.
Moneybox, on the other hand, has consistently offered solutions for the accounting and tax industry since its founding. Through its extensive relationships with credit card processors and sponsor banks who have the capability to underwrite regulated industries, along with its integration of chargeback and fraud prevention software, Moneybox is uniquely positioned to provide retail and online businesses with stable, effective, and long-term credit card processing solutions.
Accounting & Tax Prep
We would love to work with you. Collaborating with a trusted Merchant Services Provider will make the process of getting up and running a lot easier!
Collaborating with Moneybox, is easy we would love to work with you. Our goal is to offer secure, PCI compliant, and straightforward solutions for processing various credit cards, including Visa, Mastercard, and Discover. By utilizing our integrated online gateway and in-store terminal options, or other payment tech you can expand your business easily. Additionally, our fraud and chargeback mitigation tools ensures that all transactions are tracked and processed from start to finish.
Most accounting professionals use Intuit products and other accounting software platforms like FreshBooks, and Zoho Books. These are valuable tools, but their effectiveness depends on the integrations you can connect. Intuit offers card processing but it is extremely expensive and does not offer the types of integrations we can offer. Remember that opening a merchant account can significantly enhance your accounting and tax preparation business by providing seamless integration with these platforms. This may include features like automatic invoicing, payment reminders, digital recording, and inventory management. Moneybox recognizes the importance of these software solutions and strives to ensure compatibility with them, making it our mission to support seamless integration with these resources.
FULL Partner List
