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Get Signed Up for Telecommunications and VoIP Payment Processing

Get Signed Up for Telecommunications and VoIP Payment Processing

The pandemic was a boon for the telecommunications and VoIP industry. COVID lockdowns and remote working increased the demand for telecommunication services. Businesses and consumers have grown to love the efficiency and affordability of modern telecom technologies. From $30 billion in 2020, the VoIP market is expected to grow to $95 billion in 2027.

Due to its huge potential, it’s easy to assume that financial institutions would embrace this industry with open arms. On the contrary, banks and payment processors shun this market and refuse to offer telecommunications and VoIP payment processing services because they regard these merchants as high-risk businesses.

Specializing in high-risk payments, SeamlessChex offers telecommunications and VoIP merchant accounts and payment processing solutions to help you take advantage of this growing industry. Browse our range of high-risk payment products to find the best solution for your business needs:

How Can SeamlessChex Help Telecom/VoIP Merchants?

With more than 15 years of experience serving high-risk industries, SeamlessChex is an expert in providing telecommunications and VoIP payment processing solutions. Leveraging our close relationship with more than 25 acquiring banks, we can approve your business for a telecommunications and VoIP merchant account and give you access to the online payment system in record time.

Establishing a merchant account is only the beginning. Maintaining a merchant account in a high-risk industry will be a constant struggle. SeamlessChex provides the most advanced fraud-fighting and chargeback reduction technologies to reduce the risk of merchant account termination and help you run a profitable business.

SeamlessChex telecommunications and VoIP payment processing services:

  • Offer quick sign up and approval
  • Have the lowest-cost processing fees
  • Include dispute management solutions
  • Easily integrate with all your existing systems
  • Provide a secure, PCI compliant payment gateway
  • Accept credit card, eCheck, ACH, and mobile payments

Why are Telecom Businesses Considered High-Risk?

Telecom/VoIP businesses facilitate global communications at a lower cost. The industry provides important services in a globalized economy, so why are they labeled “high-risk” and rejected by banks? While experiencing record growth, the industry has many problems that make banks reluctant to provide telecommunications and VoIP payment processing services.

Some of the problems in this industry include:

  • High-volume transactions – Telecom/VoIP merchants have high processing volumes. The more credit card transactions you process, the greater the risk of payment fraud.
  • More unhappy customers – The technical nature of your services is more likely to produce disgruntled customers. When customers experience technical issues and don’t get enough support to resolve the problem, they initiate transaction disputes to restore their payment.
  • Excessive chargebacks – The telecom industry has a subscription business model that relies on recurring billing to collect payments from customers. Customers that forgot they had signed up for or no longer need your services will file chargebacks to dispute the transaction and get their money back.

Sign up for a Telecommunications and VoIP Merchant Account Today

Are you having difficulty finding a telecom merchant account provider? Do you want to replace your current processor because they have unfavorable terms and rates? If you need low-cost telecommunications and VoIP payment processing services with a quick onboarding process, SeamlessChex can help. Contact us now to speak with our payment experts and learn how you can set up a high-risk merchant account today.

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