Payment Processing for Accounting and Tax Companies

The future looks promising for accounting and tax prep businesses. As the economy recovers from a global recession and unemployment numbers go down, demand for professional accounting and tax preparation services will see solid growth. The American tax and accounting service industry are projected to generate at least $119.48 billion by the end of 2021.

Accounting and tax prep businesses help individuals/organizations manage their finances and comply with state and federal authorities. Despite the important work they do, most banks and payment processors refuse to offer accounting and tax prep merchant accounts to these businesses because they’re regarded as a high-risk industry.

Specialists in high-risk payments, SeamlessChex offers accounting and tax prep payment processing and merchant account services to help your business accept online transactions. Browse our range of high-risk payment services to find the best solution for your business:

Why are Tax and Accounting Businesses Labeled High-Risk?

It’s understandable why CBD and online gambling businesses are considered high-risk. But why is a financial service industry that helps people comply with the law regarded as too risky to work with? A high-risk label is not always about the merchant. The value of your services and industry-specific consumer behavior also contribute to the high-risk designation.
‍
Here are some reasons why banks and processors decline to provide you with an accounting and tax prep merchant account:

• High-ticket transactions – Accounting and tax prep are high-value services. Transactions in this industry can range from hundreds to thousands of dollars. Big-ticket transactions can produce buyer’s remorse, leading to more cases of friendly fraud.
  
• High chargeback rates – Many of this industry’s clientele have overly high expectations. It is common for customers to file chargebacks if they feel like you did not get them enough tax exemptions, deductions, and credits.
  
• MOTO and CNP payments – Mail order/telephone order (MOTO) and card-not-present (CNP) transactions are the most common forms of payments in this industry. Online and over-the-phone credit card transactions have higher rates of payment fraud.
  

How can SeamlessChex Help Tax and Accounting Businesses?

SeamlessChex has over a decade of experience providing accounting and tax prep payment processing services to businesses like yours. We know that chargebacks and payment fraud are the biggest threats to your business. Our accounting and tax prep merchant account services include the most advanced fraud-fighting technologies to protect your finances and acquirer relationship.
‍
long with providing a PCI-compliant payment system, SeamlessChex also seamlessly integrates with all your tax and accounting software. You can easily connect our payment platform to QuickBooks, Xero, TurboTax, and other third-party applications to simplify your business processes. SeamlessChex accounting and tax prep merchant account services can help your business:

• Get instant access to the online payment system
  
• Process credit card, ACH, eCheck, and mobile payments
  
• Reduce the risk of merchant account termination
  
• Keep your chargebacks below 2%
  
• Improve cash flow and increase profits
  
• Decrease online payment fraud
  
• Accept electronic payments online and on-site
  
• Receive next-day funding
  

Set Up Your Merchant Account Today

Are you struggling to find accounting and tax prep payment processing services? Or perhaps you’re looking for a lower-cost alternative to your current accounting and tax prep merchant account provider? If you need quick and affordable merchant account services, SeamlessChex can help. Contact us now to speak with our payment experts and learn how to set up your merchant account today.