Tips On Opening A High Risk Merchant Account For Tech Support

Tech Support Merchant Account

Tech support provides user-friendly assistance to clients having technical issues with an electronic device, the technician providing the service as to be well trained in solving issues onsite and offsite via email, remote connection or live chat. In the tech industries, many companies outsource their support overseas for many reasons including cost of labor etc. such services can be software, product, connectivity, troubleshooting, and installation related.

Tech support based companies are considered a high-risk business due to the high volume of chargebacks. Tech support includes telemarketing, customer care centers, remote PC support and printer support. A Business that process credit and debit card increase their revenue and profitability. It is highly necessary for tech support companies to process credit and debit cards by securing a reliable payment gateway. The risk attached is high because of the non-tangible services provided via the telephone or over the internet. The tech industry is termed one of the fastest growing sector financial institutions and merchant providers are always running away from providing credit/debit card services to tech support companies domestic or offshore. The vulnerability to fraud over years the years, internet fraudster disguise as tech support to defraud users of their vital personal information and money. Because of these mentioned reasons, most of the account providers and acquirers refrain from providing services to this industry segment. But, has come up with options of best high risk merchant account providers for tech support industry, that can help you with establishing and prospering your business.

Financial institutions don’t want to bear the potential loss, therefore authentic tech support companies that want to process credit/debit go to high-risk merchant account providers.

How To Get A Tech Support High-Risk Merchant Account?

It is quite challenging to set up a merchant account for a tech support company because of the risk involved. Merchant account providers take into consideration duration the business as being operating in the high-risk sector. They want assurance that the business owner is experienced and can help identify the risk faced and know how to reduce or prevent fraud and also how to manage credit card processing. There is vital information to consider before a high-risk merchant account can be created, to increase the eligibility. If you are looking for a tech support merchant account for your high risk tech support business, can help you get the best one.

A positive credit rating, a credible credit report mustn’t carry any previous bankruptcies, late payments, unpaid loans etc. a good credit report creates a favorable and trustworthy impression with the account processor.

Honesty about an account with previous merchant account providers, owning up to past financial hiccups, helps the provider understand the trends and issues causing such to best provide a solution. Your past financial challenges can’t be hidden because it’s a public record. For a comprehensive research on the available high-risk merchant account provider to know the one that best suits you. You need to find out about their:

  1. Transaction fee: This is a fee charged for each processed transaction.
  2.  Discount fee: The higher the volume of a transaction the lower the percentage charged per transaction. If the monthly charges are less than a certain amount, a higher percentage is incurred.
  3.  Equipment like Point Of Sales(POS) printers etc. come with additional costs and several other fees like a reserve, chargebacks fees etc.
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