Mar 01, 2014

Indian Tech Support Merchant Account

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India’s National Association of Software and Service Companies has a new leader. Rentala Chandrashekhar was chosen to lead the Association into the new year as they endeavor to triple technology trade industry’s revenue over the next six years. The $108 billion industry aims to become a $300 billion industry by 2020 making it a lucrative industry for those seeking to open tech support merchant accounts.

Mr. Chandrashekhar is a former Telecommunications Secretary for India and has helped guide the growth of the industry from his government posts in the Ministry of Communications and Information Technology.

India’s Outsourcing Challenges

India is facing a new crop of challenges as they seek to grow the outsourcing industry. Major US-based and Europe-based companies are cutting back on the outsourcing contracts they are granting for their tech support. As pressures are elevating on these businesses to cut back on their expenses, outsourcing contracts are among the first casualties.

There is also a US Immigration Bill that if passes will restrict the number of employees a company can bring into the United States to carry out service contracts. Outsourcing companies prefer to import engineers from India to carry out service contracts in the United States as it is cheaper then hiring a Western engineer. If the US Immigration Bill passes the number of engineers brought in will be capped creating new challenges for outsourcing companies.

Mr. Chandrashekhar should prove to be a capable and competent head of India’s large technology trade body. Despite the challenges facing the tech support industry in India, it should continue to prove to be a lucrative outsourcing industry. If your business is interested in opening a tech support merchant account for India explore your options with EMB’s experienced team.

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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 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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