A Guide To Help Desk Merchant Accounts

Oct 25, 2022

Help Desk Merchant Account

A help desk merchant account is vital for companies in the help desk businesses. It offers a secure platform for these businesses to receive payments and engage in other transactions.

Even though help desk businesses do their best to ensure everything is running smoothly, banks and other traditional account providers still categorize them as “high-risk businesses.” This is not good for the business and a help desk merchant account helps revert that. There are several advantages of having such an account; some of them include;

  • Safer Payment Method: No one wants to use a sketchy and unreliable payment method. Through help desk merchant accounts, help desk businesses have a secure way to take payments and engage in other transactions. 
  • Simple Verification Procedure: One of the significant benefits of this account is a smooth verification process. Businesses have a relatively easy time getting a help desk merchant account. 
  • No Risk of Bad Checks: Merchant accounts significantly reduce the risk of bad checks. Your help desk business won’t have to deal with such cases thanks to secure payment options.
  • Enhanced Efficiency: A help desk merchant account helps you manage your finances better. Besides, your customers will have a better experience due to payment flexibility. 

Benefits of a Help Desk Merchant Account 

In the course of its operations, a help desk business faces several risks that could be costly. Traditional account issuers, such as banks, note this and set complex requirements to give merchant accounts.

While checks and cash have become less popular with customers, debit and credit cards and other online payments are increasing in popularity. Therefore, as a help desk business, it is crucial to leverage the new normal and accept payments in multiple ways. A help desk merchant account is a reliable way to do so. Here are some of the benefits of owning this account. 

Efficient Money Management

A help desk merchant account allows several online payments and credit cards, enhancing how your help desk business handles its financial transactions. Online payment methods will ensure better cash flow management and help keep you organized. This is a significant step up from contemporary management methods.

Credit and Debit Cards Are Accepted

As mentioned earlier, debit and credit cards have become very popular among customers. Therefore, restricting some of these payment methods will affect customer experience, making some look for services elsewhere. 

Thankfully, with a help desk merchant account, you eliminate any friction in the payment or buying procedures. This goes a long way in improving cash flow and helping you get new customers. 

Better Customer Service

With a help desk merchant account, you will have happy customers due to payment flexibility. Most of them will return for more transactions thanks to the ability to make purchases in several ways. They have the freedom to make payments through debit or credit cards, recurring billing, mobile payment, or online payment through a customized shopping cart. 

The fact that customers can shop when and how they want will boost your sales. According to experts, good customer experience is the key to a successful business. This will be greatly beneficial to your help desk business. 

Enhanced Security in Payments 

Electronic payment methods guarantee safe transactions with no chance of bounced checks. This saves your business from the costs and hassle associated with unsuccessful payments. 

There is also no risk of incurring losses. Besides, you can pair your help desk merchant account with a complete payment method to start accepting recurring payments. This is ideal for businesses that offer services on a repeat basis.

Increased Sales

A help desk merchant account can help increase sales. When you give your customers the option to use credit cards over cash, they will be motivated to transact more. Customers won’t be frustrated with limited payment options and can make purchases whenever possible. This will directly impact your business and help increase sales.

 

How To Obtain a Help Desk Merchant Account

Are you planning to obtain a help desk merchant account and are wondering how to go about it? Don’t worry, the process is relatively easy! Follow these steps to get a help desk merchant account. 

Step 1: Do Your Research

Doing your due diligence is the first and crucial step when getting a help desk merchant account. If you didn’t know, there are different types of these accounts, each with unique features. Besides, you will want to work with a reliable issuer of such accounts. 

Therefore, you should thoroughly research before settling on a preferred merchant account. There are help desk merchant accounts specially tailored to a particular type of transaction (it could be retail sales or online purchases), while others are tailored for a specific industry. 

If you know anyone in a similar field, you can ask for recommendations on the best account issuers. Alternatively, you can research online and evaluate different options. This will help you get the best help desk merchant account for your business. 

Step 2: Get the Necessary Paperwork

Next, you should get your paperwork in order. Most account issuers will need you to meet different requirements before issuing a help desk merchant account. Knowing some of the provisions will help you prepare in advance. Here are some of the standard requirements you should have:

  • Your business name and DBA 
  • Business bank account
  • Financial statements
  • Tax ID number
  • Contact information
  • Length of time in operation
  • In some cases, a credit card number is required (to pay for registration fees). 

Step 3: Apply for the Account

After you have submitted all the required information, the issuer will check your business and personal credit history. This is essential because it helps them know your financial position and credibility.  

While some processors allow you to register for free, some charge a few hundred dollars for the same. You may be required to write a short cover letter describing your help desk business.  

Step 4: Wait for Approval

After sending your application, the merchant account issuer will access it and decide if it will be approved. Issuers will endorse applications if your business meets all the basic requirements and is a reasonable risk. Note that the account provider considers several factors when approving an application; some of them include;

  • Business and personal credit histories: Any defaults and bankruptcies are a red flag.
  • Amount of time in the business: If you have been in the help desk business for a long time, you are a reasonable risk.
  • The provider will also check to see if you have previously owned a help desk merchant account. If so, you might have to explain it.
  • The type of business: What kind of business do you do? Do you allow cash, online, or credit card payment? It is vital to know that help desk businesses have different levels of risks. Therefore, the issuer will want to evaluate your business before issuing a help desk merchant account. 

 

Help Desk Merchant Account: FAQs

Will My Business Qualify for a Help Desk Merchant Account?

Most types of businesses can qualify for a help desk merchant account. However, the application process might vary depending on the risks and type of help desk business you do. Companies with little to no risks qualify for a help desk merchant account.

Can You Have Two Merchant Accounts?

You can have two merchant accounts. However, you will have to explain why you need to get a second account. Usually, established help desk businesses with large transactions can have more than one merchant account. 

Will I Benefit from a Help Desk Merchant Account?

A help desk merchant account comes with several benefits. Apart from helping your business save money, a help desk merchant account will;

  • Increase sales
  • Avoid bad checks
  • Enhance customer experience
  • Improve money management

Who Are Help Desk Merchant Accounts for?

Help desk merchant accounts are meant for you, a help desk business owner. Given that help desk businesses are categorized as risky, they need a high risk merchant account.   

Get a Help Desk Merchant Account Today

A help desk merchant account benefits help desk businesses and enterprises. With more people switching to credit card payments and other online payment methods, getting a help desk merchant account is necessary. 

This account will help your business increase sales and ensure a healthy relationship with your customers. They will be free to use any payment method, hence a better customer experience. 

Besides, you won’t have to deal with bad checks because a help desk merchant account guarantees effective payment. Therefore, get a help desk merchant account today to boost your business.

Let us help you get a help desk merchant account today!

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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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