The technical industry may be one of the fastest growing industries. However ,banks aren’t eager to approve merchant accounts for businesses in this sector, which would allow them to process payments, including credit card purchases. In fact, a majority of transactions are being completed with debit or credit cards. When providing your tech support services, it’s important to offer your customers a range of options for paying, which can make the difference in whether they work with you or not.
Online payment gateway is one of themain components for the tech support world to build and make a strong connection with reliable environment and have a bunch to give high safety of cost effectiveness and consumer data. Also, inclusion of digital tech support add up as a part of the business world and a broad range of modern trade to protect the precious time of customer and high percentage of money. iPayTotal work with customized and specialized online gateway of payment for Tech support procedure and have accomplished high status of reputation due to its reduced time consuming performance and its trusted service.
Why Is Tech Support Considered High Risk?
Tech support is considered a high risk industry due to a lot of reasons, there are a few listed below :
- Remote tech support deals with card-not-present transactions. This means that the customer’s credit card is not present at the merchant’s point of sale.
- Chargebacks are most common in PC tech support, when a customer disputes the charge with his credit card company and earns their money back which is common these days.
- Tech support companies often operate in different places around the world than their customers.
HOW WILL YOU GET A TECH SUPPORT MERCHANT ACCOUNT?
To obtain a payment gateway for tech support, you should inquire with many providers. You should check their underwriting guidelines and list of acceptable industries. A main factor that creates hindrance in getting payment gateway is the chargeback factor. The underwriters look for the legitimacy and stability of the applicant. There always should be fewer chargebacks and zero fraud cases to be on safer side.
What is an underwriter looking for when reviewing my tech support merchant account application?
The underwriter’s role at a merchant processor is to make sure that the business is a good risk for the processor to take on and go ahead with. Specifically, if he is looking at the likelihood that the processor will face losses on the account. The ways it gets rejected usually is becauseif there are either large or high numbers of chargebacks and disputes that go unpaid, bills that go unpaid, or fines incurred either by the governmentor their sponsor bank, for taking on a merchant that is involved in fraud or other nefarious activity. So, overall they are looking for businesses that look stable, legitimate, and have a bank account with sufficient funds to cover any chargebacks or disputes. So the more you’re able to present your business as legitimate, stable, and with significant enough resources to cover any losses, the better are your chances.
Tech Support Payment Gateway Provider you can Trust
Most merchants find their way to iPayTotal because they have been shut down by their previous tier one processor. This usually happens after months of processing and without warning. Luckily, iPayTotal has the relationships in place to be able to secure credit card processing for tech support businesses. Specializing in high-risk merchants, such as tech support and all high risk businesses, we have what you need to succeed.
We offer a dedicated account manager who helps you stay compliant with current bank procedures, gets you set up with a secure gateway, and provides risk mitigation and chargeback management tools.