Payment Processing For Digital Goods
We provide merchant accounts for a wide range of digital goods merchants
Signature Payments has been providing digital goods merchant accounts to businesses for over 20 years. We specialize in helping merchants in high risk industries qualify for secure payment processing. As experts in the industry, Signature Payments has a team of in-house specialists ready to help you get your digital goods merchant account approved so you can start accepting online payments ASAP.
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What is a Digital Goods Merchant Account?
A Digital Goods Merchant Account is a merchant account for businesses that specialize in selling digital goods and services. The most common types of digital goods businesses are businesses that sell gaming services, ebooks, web design, telecom, streaming media, digital content and digital downloads.
However, merchants in this category are often deemed high risk by most conventional payment providers and banks. This makes it difficult to qualify for affordable payment processing rates — assuming any provider will even work with you.
There are a few factors associated with digital goods merchants that put them in this high risk category. Those risks include:
- The prevalence of piracy and theft when selling digital products. Once an ebook is out there, for example, anyone can easily copy or resell that product.
- Many digital goods revolve around subscription models. Yet recurring billing subscriptions are often disputed by customers — resulting in fees, penalties, lost sales and wasted time.
- Signature Payments has a long history of serving digital goods merchants. We understand the unique needs of digital goods merchants and our experience in the high-risk space uniquely positions us to provide the solutions and support you need to grow your business.
Signature Payments has a long history of serving digital goods merchants. We understand the unique needs of digital goods merchants and our experience in the high-risk space uniquely positions us to provide the solutions and support you need to grow your business.
When other payment providers say no, we say yes.
With Signature Payments you get…
Our application can be accessed online for quick and easy completion in just a few minutes.
Our application review process is quick and easy so you can begin accepting payments in no time.
No Hidden Fees
Our team will work hard to get your account approved at the lowest possible rates with no hidden fees or extras.
We partner with multiple banks and offer domestic and offshore solutions for the flexibility you need.
Frequently Asked Questions
Why do I need a merchant account?
A merchant account is what allows your business to process payments made by credit, debit, gift or rewards cards. This is true whether you sell digital goods online or physical items in-store. If you run a cash-only business, you can get away with not having a merchant account. That said, this will severely limit your ability to accept online payments. With a merchant account, you can offer customers a fast, secure and easy way to buy the digital products and services you sell.
How do I apply for a digital goods merchant account?
Simple. Fill out our easy online application form. We’ll take care of the rest. If you run into problems or have questions about payment processing for digital goods, our support team is always here to help.
What if my credit is less than perfect?
A Personal Guarantee is required in almost all cases in order for us to review your application or determine your merchant account rate. However, we also look at your business type, sales record and repayment history to assess your creditworthiness.
What kinds of payments can I accept?
We support all major credit and debit cards — including those offered by Discover®, Visa®, American Express® and Mastercard®. In addition, your merchant account can securely accept payments made via mobile wallet, electronic benefit transfer (EBT) and check.
What types of digital goods businesses do you accept?
Signature Payments accepts a wide range of businesses related to digital goods including gaming services, web design, telecom, streaming media, digital content and digital downloads.
Is Signature Payments compatible with my existing software?
Because Signature Payments works with most major payment gateways (including Authorize.net, ePN and NMI), our merchant accounts integrate with most software. If you have questions about a specific software, please reach out. We’d be happy to answer your questions.
What criteria does my digital goods business need to meet, to be approved for a merchant account?
That will depend on your specific business but in general businesses must provide bank statements/processing statements, have clearly stated refund policies and well-defined price points and packages. For more information on the criteria your business needs to meet, contact us and we’d be happy to discuss your unique needs.
Do I need special hardware to start?
For online sales, no additional hardware is required. Instead, you’ll need a digital goods payment gateway, which is the virtual equivalent of a physical credit card terminal.