Credit Card Processing for US Tech Support Merchants

Mar 29, 2016

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.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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