Types of Tech Support Merchant Account
Many corporate organization wish to start the secure and great connections with customers and backers using defensive and quick transactions. At the point when the business world utilizes the payment gateways giving shrewd online gateways of payment, at that point the specialist co-op of business gets a reliable and keen association with supporters and the market.
A Tech Support Merchant Account is an essential part for the technical organization world to manufacture and make a solid association with the dependable conditions and have a bundle to give high security of cost adequacy and buyer information. Fortunately, there are some of the options in order to secure a payment gateway for the tech support business with the proper high risk provider and banking partnership
Why is Tech Support Considered at High Risk?
Remote tech support is considered at high risk industry for several reasons –
- Remote tech support deals with card-not-present transaction i.e. the customer’s credit card is not available at the merchant point of sale.
- Chargebacks are unfortunately common in PC tech support, when a customer dispute about the charge with his/her Credit Card Company and earns their money back.
- Tech support companies often operate with their customers from different locales around the world.
Innovative Merchant Services offers a full spectrum of tech support merchant account to different technical organisation. Some of these may are
A payment gateway is a merchant service that processes the credit card payments for the ecommerce sites, traditional brick and mortar stores. Some of the popular payment gateways include PayPal/Braintree, Stripe and Square.
Payment processing is the essence of automation of the electronic payment transactions between the merchant and the customer. Payment technology helps to process, verify and accept or decline the credit card transactions.
ACH Payment Processing
ACH Payment Processing help your small business to process payments quickly and securely, giving you an edge over your competitors. ACH Payment Processing help you to quickly process each transaction electronically.
If you have any query regarding your High-Risk Tech Support Merchant Account. Please contact us.
What is required while applying for a tech support merchant account?
An online or retail businesses can apply for a tech support merchant account today. To begin with a tech support merchant account you should fill out Innovative Merchant Services online application. To keep the process moving along, businesses should have the below items on hand to make available to the processors and underwriters. Some of these processing documents –
- Any legitimate government issued ID such as a driver license
- A pre-printed voided check or the bank letter
- Three months of the most recent bank statement
- Three months of the most recent processing statement, if applicable
- Documents of SSN (Social Security Number) or EIN (Employer Identification Number)
- Chargeback ratios must be under 2%
Tech Support Merchant Accounts are Hard to Place
Selling a service related to Tech Support has inherent risks. Reasons for this may include –
Fluctuating Ticket Sales
Tech support business require specialized skills, which leads to higher ticket sales. The wide range of sales amount makes it hard for the business owners and banks to determine an average transaction size.
Fraudulent Practises Are Rampant
Malware and viruses have overshadowed the good side of the tech-support business, making it seem much less authentic. In order to combat this, strict underwriting need to be placed before the approval begins.
Tech Support Is a Service
The business style brings up the issues that are harder to resolve, which may result in unhappy or dissatisfied customers which may increase the chargeback ratio of your tech support business.
“Effective, responsible, knowledgeable, I have only good things to say about Innovative Merchant Services. I am very much satisfied with the co-operation and dedication that I get from the staff of the company”.
“The staff of the Innovative Merchant Services are very co-operative and dedicated to their work. They care about your business and provide their best to serve in making their business successful”.