While all merchants need payment processing options, tech support merchants can have a hard time finding a cooperative and knowledgeable option. The high chargeback rate and high business closure can hinder even the most successful merchants’ chances of obtaining a tech support merchant account. While it can be hard, it is possible.
While obtaining a tech support merchant account can be tough, there are other things that can add pressure to the search. You need to make sure that your chargeback rate is low, preferably under 3%. This allows merchant account provider like EMB the ability to supply you with a tech support merchant account. While chargeback rates are high for the tech support industry, there are things that you can do to curb the high rates. Firstly, be sure to get the actual address – not PO Box – of your customers. This can help prove that the order is not a fraud order. Many fraudsters use PO Boxes to obtain their fraudulent wares, unlike a home address, which can be traced quicker and easier.
Also, be sure to document every order and keep copies of everything. Friendly fraud can cause chargebacks as well, and you should keep watch to combat these. Sometimes friendly fraud is caused by a forgotten purchase. This is where keeping every record and correspondence comes in handy. Even short emails should be kept, to prove that the purchase was known by the customer.
Keeping a low chargeback rate is one thing, but you need to make sure that your tech support merchant account provider understands your business. This is a risky business, and it takes a knowledgeable and experienced merchant account professional to handle these accounts. Do your research before signing on with a company. Ask local merchants in the same industry who they recommend. Check out industry ratings and awards. Most of all, ask questions. Inquire to any penalties that may come if a chargeback occurs, and ask what they can do to aid you in the lengthy chargeback process. This is your business, and it is always in your best interest to take control.