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Annual memberships and subscriptions, vouchers, daily deals, collective buying and groupon business models


We can provide merchant account and gateways for businesses wanting to provide either memberships, vouchers and also for collective buying schemes. However certain rules apply due to Visa and MasterCard terms and conditions. Depending on your business model also depends on which account we can offer you.


Vouchers & Collective Buying (Groupon model)


With websites such as 'GroupOn' becoming popular, we have seen a surge of similar style businesses pop up. We can help these types of businesses, however we do have some rules that you must comply with.

How these business models work - The company offers one offer per day in each of the markets it serves. If a certain number of people sign up for the offer, then the deal becomes available to all. If the predetermined minimum number is not reached, consumers are refunded and the discounted deals expire.

Because of the nature this business model and the fact that there are now well over 500 sites similar to Groupon - including some big names such as Amazon (Living Social) and Google (Google Offers) and also investments of hundreds of millions, the banks we use, including us, need to see that not only is your business trustworthy, but that it will succeed and make money.

If you have this type of business and would like to apply, then we will need to see the following depending on your current trading history;


Already trading online
  • Merchant must have at least 6-12 months trading history
  • Vouchers should not be valid for longer than 3 months
  • T&Cs must be stated clearly when voucher is bought
  • Refund policy must be stated clearly
  • It must be very clear for the consumer where the shop / restaurant is located
  • It must be very clear for the consumer when the voucher expires
  • All Vouchers must clearly list the amount of vouchers that must be sold
  • If relevant number not sold then full refund issued no later than 30 days

Start Up businesses
  • No high risk products / services should be offered
  • No future payments (travel, tickets, events, seminars…)
  • Product must not belong to a third party, i.e. supplier must own the product
  • Service must not belong to a third party, i.e. supplier must provide the product
  • Vouchers should not be valid for longer than 3 to 6 months.
  • T&Cs must be stated clearly when voucher is bought
  • Refund policy must be stated clearly
  • It must be very clear for the consumer where the shop / restaurant is located
  • It must be very clear for the consumer when the voucher expires
  • The merchant should provide a list of all the cities that are serviced.
  • You must have a contractual agreement with supplier

Learn more about the payment solution we can provide


Annual & Life Time Subscriptions and Memberships


Unfortunately the banks that we use for our merchant accounts, as well as Visa and MasterCard, are starting to frown on these business models and much prefer memberships or subscriptions that are debited either weekly, monthly or quarterly from the customers credit or debit card.

The issue is with it being annual and life time payments (what happens if a customer pays for a years membership but the business goes under after 6 months?) and not so much the amount of the transaction. The problem worsens if 100% of the business is based on annual memberships or subscriptions.

That said, we may be able to help with annual membership and subsciptions, however the following terms may apply (subject to status and application):

  • Larger rolling reserve (upto 50%)
  • Cash deposit for security
  • Longer settlement period
  • T&Cs must be stated clearly
  • Refund policy must be stated clearly


Please note that it is impossible for us to say what terms will be implemented until we receive an application

Learn more about the payment solution we can provide

 

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