You may be surprised to learn that there is something like a 'technical support merchant account,' if you own a technology support company and want to pay by card. It's true, however. Companies of IT services receive special care when they pay by credit card. There are, in fact, trading account providers specialized in high-risk merchant accounts.
Tech Support - A high-risk industry
In general, traditional banks are reluctant to
provide these types of businesses with merchant accounts for several main
reasons.
One of the biggest issues is online fraud. Under
the guise of technical support professionals, scammers are known to prey on
consumers for access to their money and personal information.
The user is often afraid of thinking their the computer is insecure or might crash at any time and therefore pays for a
diagnosis and reparation of an existing Problem.
This is a fast and easy method for scammers to
make a few hundred dollars for every consumer they contain. These recharge
fines can quickly add up and end your accounts if disputes are not processed
promptly.
Finally, transactions that are only made via
telephone or internet are always considered riskier than transactions in
person or card.
Online transactions are always at risk of fraud because the actual cardholder cannot prove that he uses the card for a
particular transaction. With such high costs, it is no wonder that these
commercial accounts would not be taken by the banks.
Why do you require a high-risk merchant account for technology support?
IT and technology support companies are classified
as high-risk companies. The idea that an industry with mild-mannered,
self-professed nods is "dangerous" can appear counterintuitive. But
this is not the way banks that write commercial accounts decide which business
is high risk.
The following are usually characteristics for
high-risk companies:
- High rate of charging or fraud
- United States-based offshore business
- Questionable legality of products or services
- Sales or marketing practices questionable
- Poor personal loan score
- Average high sales of tickets
Of the above factors, a high rate of
reimbursement or fraud is tended to occur by skittish customers and real
scammers and certain IT support providers operate remotely. Furthermore,
because some services are charged per hour and bugs or malware can be hard to
fix, the average ticket size of the technical support can be large.
Moreover, online or via the telephone sales of
credit cards are considered risky as the way robbery is used. Given that
payments are often paid by the IT services industry, the underwriter banks
regard this as an additional risk layer.
There are therefore frequently high-risk
categories in the tech support industry. Many regular payment processors will
not work with high-risk companies, so you work with a high-risk payment
processor that charges more.
The 4 Best Tech Support Payment Gateway
Providers
PaymentCloud: A
good, high-risk overall processor specialising in commercial support accounts.
Durango Merchant Services: A good, high-risk, overall processor for international dealers.
Instabill: A
high-risk, in- and internationally specialised processor for high-risk tech
accounting: an interchange-plus price high-risk processor.
eMerchant Pro: a high-risk processor that works and quickly approves with payment
gateway tech support
Applying for the Payment Gateway for Tech Support
Business
Apply to get payment gateway for tech support
business,
to get the process going, you can apply online
to the high-risk merchant account provider you want by submitting your basic
information.
You will then be contacted by a high risk
specialist to gather additional information about your company and to ask
supporting documents for review in the processor.
Make sure that the most frequently requested
documents for commercial applications are ready for rapid approval. These
comprise:
- You must have a valid government-issued ID
- Avoided check or bank letter
- Previous 3 months letter
- Latest processing statements ( 3months)
Social security or
employer identification number (EIN) will also be requested by the processor
and a secure and operating website or marketing material to be referred from.
Although you do not give
your merchant accounts approval to provide the above documents, you can help
improve the odds by being proactive.
As previously mentioned,
remittances are a major factor in commercial accounts, so you have to do your
best to lower your chargeback ratios below 2%.
The display of adequate
money in your bank account can also prove to you that you can cover your bills
financially if necessary.
Get the payment solution
for your Tech Support Business with
eMerchant Pro.
The specialty of
eMerchant Pro is to find quality payment solutions tailored for each high-risk
merchant we can support. In order to provide legitimately processing homes for
high-risk companies, we have the expertise and bank relationships necessary.
We can help traders to
get approval for a loan card processing account in just 1 to 2 business days
with the right merchant information and documentation.
We will help your
trading account thrive, so we can set up an online payment filter, a secure
payment gateway, and an optional chargeback reduction program, once your
account has been approved. Without any second thought, you can contact eMerchant
Pro to get the payment
gateway for tech support.
