The tech support industry is experiencing rapid growth, becoming increasingly indispensable as our dependence on technology deepens. However, many payment processors perceive this thriving field as high risk, leaving entrepreneurs in the tech support domain pondering how to establish a merchant account. Fortunately, the solution is straightforward.
To establish a merchant account for a tech support business, it is crucial to identify a provider that comprehends the unique needs of tech support companies and their clients. The application process is typically swift and uncomplicated: the provider evaluates your application, submits it to the underwriting department for a formal assessment, and upon approval, your business is prepared to process payments. In certain instances, this entire process can be finalized within 24 hours.
TECH SUPPORT MERCHANT ACCOUNTS TABLE OF CONTENTS
Why Many Processors Are Reluctant to Serve Tech Support Businesses?
If you operate a conventional retail business, most processors and banks would readily provide their services. However, this is not the scenario for remote tech support companies, primarily due to the elevated risk of chargebacks associated with this industry.
When searching for a high-risk merchant account provider, it is crucial to verify whether they cater to tech support businesses, particularly those offering remote services. Ensure that the provider’s underwriting department is also aligned, as initial affirmations by sales representatives may not always align with the policies of the underwriting department.
Does SecurePay Online Offer Merchant Accounts to Tech Support Companies?
Certainly, SecurePay Online offers comprehensive high-risk eCheck processing for tech support companies, irrespective of whether you are a startup or an established business processing substantial volumes each month. Our application process is direct and swift, and upon approval, you can initiate processing payments immediately. We also provide assistance in setting up your gateway and management tools, ensuring a seamless experience.
Enhancing Your Company’s Processing Volume Limit
Many remote tech support companies aspire to increase their monthly sales to significant amounts but often encounter initial limits on their merchant accounts. To augment this limit, it is a matter of time and demonstrating responsible processing behavior. Consistent volume, predictable transaction sizes, and minimal chargebacks over a period of 3 to 6 months can result in a reassessment of your account and a potential increase in your processing limit.
What Underwriters Seek in Tech Support Merchant Account Applications?
Underwriters at merchant processors evaluate the risk a company poses, focusing on the likelihood of encountering significant losses. Losses may arise through high chargebacks, unresolved disputes, unpaid bills, or fines from regulatory bodies for involvement in fraudulent or illegal activities.
They seek companies that exhibit stability, legality, and possess sufficient funds to cover disputes or chargebacks. Demonstrating your company’s stability, legality, and financial resources enhances the likelihood of your application being approved.
SecurePay Online processes numerous transactions weekly for tech support businesses. If you are curious about how eChecks can benefit your company and save costs, SecurePay Online is prepared to assist.