What is Crowd Funding?
The practice of collecing funds for a project or venture for Crowdfunding Merchant Account. Crowd Funding is by raising money from people who each contribute a relatively small digits amount via the Internet. Crowdfunding has three different ways such as Donation Based, Reward-based and Equity based. The MCC code for crowdfunding is 6012 for Financial Services. Therefore, most of the payment service providers consider offering debit and credit card processing solutions. The main purpose is to start-up companies within the crowdfunding industry. If your looking for Merchant Account for Fund collection, we can help the merchant account in with better rates, faster payouts and higher monthly caping.
Is Crowdfunding Merchant Account considered as High Risk Business?
Yes. Crowdfunding Merchant Account has considered as High Risk Industry. Because it gets high chargebacks. Most Payment Gateway Provider companies avoid working with Crowd Funding Projects due to High Chargeback ratio. Traditionally, people used to collect funds from Venture Capitalist and Angel investors. Also, it was not the perfect way of acquiring funds for many startups. Crowdfunding is the best way to collect the finances for startup organizations and established organizations.
Payment Gateway for Crowdfunding
Geographically, Every Country has its regulations for thri crowdfunding projects and payment service providers who offer solutions to merchants. So, every Payment gateway providers have to follow all the regulations. Esecurepay is comfortable in onboarding startups and experienced merchants from the crowdfunding space. So, merchants just need to ensure that the project is genuine and is not being involved with Transaction Laundering, Money laundering, Bribery and any illegal activities. Initially, we can offer low cap transaction limits to avoid such activities. So, we can increase the transaction limits based on your Transaction volume and chargeback ratio of First month transactions.
Esecurepay offer various Payment Technologies for Funding Projects
Crowdfunding Merchant Account is considered as high-risk industry by many payment service providers. Esecurepay offers Credit Card processign and Echeck payment processing for your projects with best chargeback solutions.
Credit Card processing
Merchants should ensure that your merchant account does not receive high chargebacks. So, you should find measures that can help you in reducing the fraud and chargeback percentage. Also, a perfect way to reduce chargebacks to a huge extent would be to use chargeback alerts and notifications services. So, our credit card processing offer chargeback notifications when you get despute from merchants. Accordinlgy, merchants can submit transaction related documents.
You can also use Echeck Payment Gateway for crowdfunding project. Besides, credit and debit cards processing ACH/Echecks are one of the most popular payment mode of transactions use by high-risk merchants. Esecurepay team can offer Echeck processing for your projects. Once your website is pre approved you will be required to send some of the documents. Esecurepay ACH Crowdfunding payment gateway comes with Virtual Terminal and API.
Are you looking for Crowdfunding Payment Gateway?
Technically, there are certain things to follow to get approve for Merchant Account for Domestic and International transactions. If you representing your Crowdfunding Merchant Account project over online, crowdfunding platform must follow below guidelines.
- You must have website to represt your Organization.
- Above all, Website must contain with Organization name, Address, Contact Number, Email information.
- SSL certificate is must configure on websites for Credit Card processing.
- Project information and Organization information should be in detail on web page.
- Website should contain Organization Logo, Trademark and any Disclaimers.
- If you wishes to accept Visa and Mastercard, you must add logos of cards.
Documents Needed for Crowdfunding Merchant Account
Personal KYC: Director’s Passport /Driving Licence/National ID/Voter/TAX ID
Personal Address Proof: Director’s Bank Statement/Power Bill/Telephone Bill/Water Bill/Insurance if have any/Internet Bill
COMPANY: Incorporation /MOA/AOA/PAN/TAX Registration/GST/Any licences
Company Address Proof: Bank Statement /Cancel Check /Sample Invoice/Rental Agreement/Power Bill/Water Bill/Internet Bill
Business Website: Website URL Needed
Domain Ownership Copy: Domain Purchase receipt or Dashboard screenshot
Processing Statement: If you have any current processing statement for 3-6 Months. – Optional
Business Plan: Project information such as Targets, Growth, Team, Advertisement, Vision, Mission
Application Form: Contact Us for Application Form
Director’s Documents: Resume