Tech support merchants face the challenge to find the best payment processing solutions. The situation is even more challenging for those tech support merchants who operate globally. Some of them offer in-office computer services while others offer remote tech support assistance. A good payment provider will provide you customizable solutions. It will connect you to a huge network of international, domestic and offshore banks. The network will approve your payments regardless of your location on the globe.
Tech Support is a High-Risk Business
Tech support is considered a high-risk industry for a number for reasons. In the case of remote tech support deals, the payments are done through card-not-present transactions. It means that the credit card of the customer is not present at the sale point of merchant. Another huge problem is the frequent chargebacks. Customers dispute the charge in PC tech support industry very often, and they earn their money back with their credit card company. A big challenge for tech support companies is the location of their customers who are spread across the globe.
How to Begin?
There are two things you need to do to select the most suitable tech support merchant account provider:
• Talk to the manager
• Inquire about the timetable
The managers for tech support merchant account are there to provide you free consultation. You can talk to them by clicking on the ‘Apply Today’ button on the payment processor’s website. A live chat window will open where you can talk to the manager. Another method is to call him on the given UAN. During your conversation, it is important that you inquire about the timetable for tech support merchant accounts. The approval time varies from provider to provider. It also depends on the type of tech support merchant account.
In most cases, the timetable would be like this:
• 5 business days to 2 weeks for offshore tech support merchant account with payment processing history.
• 2 weeks for domestic tech support merchant account.
• 5 business days to 2 weeks for offshore startup tech support merchant account.
• 2 to 3 business days for tech support virtual check solution.
How to Get a Tech Support Merchant Account?
You have two options:
• Call at the given UAN.
• Click onh the apply button and choose live chat.
There are basically four categories of tech support merchant accounts:
• Offshore startup tech support merchant accounts
• Domestic tech support merchant accounts
• Offshore tech support merchant account with payment processing history
• Virtual check solutions for tech support merchants
Offshore Startup Tech Support Merchant Accounts
You will need to provide a business bank letter or business banking statements of last 3 months. In case, you do not have business banking statements then personal banking statements of 3 months can be used. The approval time could vary from 5 business day up to 2 weeks.
Domestic Tech Support Merchant Accounts
The process for this type of merchant account is different. You will submit the application along with your identification. You will also need to provide a business bank letter or a voided check and the incorporation documents. You will also be required to provide 3 months of business banking statements that must clearly show details like total sales, returns, refunds, chargebacks and company name. The approval time could take up to two weeks.
Offshore Tech Support Merchant Account with Payment Processing History
For this type of account, you will need to provide payment processing statements of last 6 months. The statements must clearly show your company’s name, total sales, returns, refunds and chargebacks. You will also need to submit business banking statements of last 3 months. The approval time is usually 5 business days but can also take up two weeks.
Virtual Check Solutions for Tech Support Merchants
With the application, you must also the provide the owner’s identification, articles of association and business bank letter or voided check. The approval time for this type of account is maximum 3 business days.
Chargeback Prevention
Friendly frauds and chargebacks are very common in the remote tech support industry; therefore, payment processors use innovative ways to prevent chargebacks. Successful payment processing companies have managed to reduce their chargebacks from 2% to 1%.
As a tech support merchant, you should take some precautionary measures to avoid chargebacks. Your billing descriptor must have your contact number and company name. It is because most chargebacks occur when a customer does not remember or recognizes a purchase on the statement of his credit card. You should always use the automatic email receipt which is sent whenever a transaction is completed.
Whenever there is a dispute, always offer a refund to your customer. A refund is a better option for your business than a chargeback. You should consider using the ACH payment processing or other solutions for your business if you are dealing with high number of chargebacks.
ACH Payment Solutions
A good tech support merchant account provider will offer you more than chargeback mitigation and credit card processing. You will also get ACH payments solutions which is a relief for merchants who suffer high number of chargebacks. Nowadays, ACH is going through resurgence. After one year, the three-day window ACH transactions will settle in the same day.
Account Fees
Good providers of tech support merchant account offer affordable and competitive fees, and most of them do not charge you application processing fee. The underwriting department of the provider matches you with his acquiring banking partners. The bank processes the application and determine the fees for your merchant account. It is the main reason why your provider will not tell you the exact fees until the process of underwriting completes. However, you will be given a rough estimate which could vary depending on your case.
Virtual Terminal
Although having a virtual terminal increases the risk factor, it is also a necessity for some businesses. To operate a profitable call center, you need a virtual terminal. Through acquiring banking partners, providers integrate a virtual terminal into your payment gateway which enables you for online computer services.

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