Ebook Merchant Accounts and Payment Processing
Our ebook merchant accounts are designed to fulfill the unique requirements of independent online bookstores.
Electronic books, often known as ebooks, are digitally published by companies and made to be read on electronic devices including Amazon's Kindle, Apple's iPad, Barnes and Noble's Nook, Canadian company Kobo Inc's Kobo e-reader, and even smartphones and computers. They offer customers more convenience, affordability, and mobility than hardcovers.
As defined by Statista, 69 million ebooks were available in 2010. In 2017, that number reached an all-time high at 266 million. 94% of U.S. public libraries provide ebooks, a significant increase from previous years. The industry generated $8.4 billion in 2013, gradually expanded, and is estimated to reach $18.9 billion by the end of 2018—representing about a quarter of all book revenue. While the sector is expanding rapidly, it has experienced routine plateaus and dips that suggest it may not overtake the popularity of hardcovers as some believed it would at its dawn, but rather remain a complementary addition to the larger book market.
Ebooks allow publishers to instantly reach a wider audience and easily update and reissue their work without the substantial costs of traditional printing and distribution. Many publishers use platform properties of industry giants like Amazon and Kobo to distribute their ebooks, as there are definite marketing and visibility benefits involved with featuring work on those platforms. However, independent online bookstores thrive due to well-deployed marketing strategies and websites that are optimized for user-friendliness. It's more cost-effective to have your own platform once your marketing, delivery (downloading), and payment processing systems are set up to add value. Self-publishing and selling through your own online bookstore allows you to be in complete control. No waiting on a publisher or wondering when your book will hit the shelves. Independent ebook sellers can create a unique outlet for niche markets, with subject matter ranging from travel guides, how-to manuals, and self-help to poetry, religion, fiction, and everything in between. Using social media and promotional tools, self-publishing one ebook can easily turn into a full-fledged online bookstore. The ability to accept credit cards and other digital transactions through your website is an advanced customer expectation, but some merchant providers shy away from serving this business.
High-Risk Aspects
Despite the healthy market for ebooks, there are several high-risk factors that are proving unfavorable to ebook stores and their payment processors:
- Prevalence of ebook piracy
- Despite ebooks generally being more affordable to purchase, some book enthusiasts prefer turning the pages of a traditional hardcover and stop acquiring ebooks after trying them
- Recurring payment subscriptions are often disputed by customers who overlook or don't see their payment terms and conditions
- Trial business models with no opt-in setting similarly trigger payment disputes
- "Friendly fraud"—when a customer attempts to dispute a transaction that was actually legitimate. It's common with ebooks after customers have read them.
Due to the chargeback risks associated with those factors, some merchant providers reject ebook merchant account applications or charge excessively high transaction fees. However, with a specialized ebook merchant account from Website Payment Pro USA, you don't have to settle for high transaction fees, hidden costs, and subpar service. We design risk-mitigating payment solutions to align with your business objectives. Given the importance of a user-friendly, professional website, we provide you with complimentary integration support to help you link your payment gateway to other software in areas ranging from accounting and ecommerce (platforms like Shopify, WooCommerce, Magento, Volusion, and more) to shopping carts and customer loyalty programs. The numerous customization options are all yours.
Payment Solution Capabilities
Our payment solutions are designed to give your business the most functionality, security, and flexibility at the most cost-effective level. We provide you with:
- Ability to accept credit, debit, gift cards, and ACH payments
- PCI compliance fulfillment, including free vulnerability scanning of your IP to ensure a secure internet connection
- Electronic invoicing and recurring billing setup
- Payment gateways that integrate with in-store POS systems, wireless terminals, and virtual terminals if your business is any combination of brick-and-mortar retail, e-commerce, and MOTO
- Next-day funding
- Advanced Fraud Detection Suite and chargeback prevention tools
- Low rate guarantee, with no hidden fees
- 24/7 U.S.-based customer support
Launching an ebook website can be a lucrative venture, whether as an addition to a physical bookstore or a standalone online business. Combine a payment solution that boosts your revenue, provides your customers with a seamless payment experience, and encourages them to keep shopping at your ebook store.
Explore Website Payment Pro's ebook merchant accounts and payment solutions for your online bookstore today. Contact us at 1-800-304-0555 to get started.
