Avid provides the essential features, security, and user-friendly interface needed in the accounting and tax preparation field.
When operating in the accounting and tax preparation sector, it is important to cater to a diverse clientele. Whether it is the busy tax season or year-round, having an accounting tax prep merchant account is necessary for credit card processing.
Tax preparation and other businesses in the financial industry are considered high risk for several reasons.
Firstly, accepting Mail Order/Telephone Order (MoTo) payments is a common practice in this profession. However, compared to in-person swipe and online gateways, Moto credit card processing payments are less secure and have fewer safeguards against fraud. Acquiring banks generally prefer to support brick-and-mortar establishments and businesses with physical products, making it more challenging for tax preparation services to find payment processing support.
Another reason is the high average ticket sizes associated with CPAs and tax preparation businesses. These services often involve transactions of hundreds of dollars or more. Additionally, the inconsistent income during and after the tax season makes banks wary of these business types, leading them to keep a distance.
Furthermore, accounting is primarily a service-based industry, which means these businesses do not typically deal with physical products. Services in the financial industry, such as student loan consolidation or debt counseling, often cater to clients with debt issues or bad credit. Consequently, these businesses face higher rates of chargebacks and fraud.
As you can see, it is not a personal matter. Many banks have strict policies that discourage them from supporting businesses with these inherent risks.
Fortunately, high-risk payment processors specialize in assessing and mitigating these individual risks. This allows you to establish an account with credit card processing solutions that enable the growth of your business.
Avid aims to offer secure, PCI-compliant, and user-friendly solutions for initiating credit card processing, encompassing Visa, MasterCard, and Discover.Â
Expand your customer base using our integrated online gateway and in-store terminal choices.
Please take advantage of our fraud and chargeback prevention suite to guarantee that each transaction is carefully handled and monitored from start to finish.
Platforms like QuickBooks, FreshBooks, and Zoho Books serve as valuable tools for your accounting business, but their effectiveness greatly depends on the integrations you incorporate.
By connecting with a merchant account, you can enhance your tax preparation services with features like automated invoicing, payment reminders, digital record-keeping, and inventory management.
Payment processors like Avid recognize the importance of these software platforms and strive to facilitate seamless integration, ensuring that you can leverage their full potential.
Even in the absence of excellent personal credit or when starting a brand new accounting business, we possess the capacity and proven experience to establish and operate your company successfully.
Our team comprises more than 25 experienced account representatives who are accessible every day to assist you with any queries and offer valuable support. Our ultimate goal is to witness your triumph.
Furthermore, once you embark on the process of obtaining a merchant account for credit card processing, you will be assigned a dedicated representative who specializes in catering to the specific requirements and preferences of your business type.
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