If you are operating an MLM or party plan direct selling company, you’ll need at least one merchant account.
What is the #1 thing you must absolutely NOT do when signing a merchant account agreement?
Don’t agree to a long-term contract that includes a restriction that you must process ALL of your credit card transactions with them
If the contract also includes:
- the right to limit the dollar volume of transactions they will process on your behalf
- a rolling reserve whose requirements may change at any time
- early termination fees which could cost you thousands of dollars
you need the freedom to obtain more than one merchant account as an insurance policy to be used if your primary merchant account provider changes the rules.
Don’t make the mistake of trading your freedom for a merchant account.