Any type of merchant account can be tricky to find, but if you are placed into the “high risk” category by processors, the task if even harder. US tech support merchant accounts are available if you know what to look for. There are special things that merchants should consider before signing on with a merchant account provider.
Do they understand your business? The tech support business is complicated, even if you do not outsource. There are many issues that can inflict themselves upon these companies that are unique, and not all merchant account providers understand this. You need to make sure that your merchant account provider is uniquely qualified to deal with your business – and its issues.
Do they understand chargebacks? Yes, the dreaded chargeback. No one wants to talk about this, but you need to before you sign on with a merchant account provider. The wrong choice can leave you with rising processing fees – or even with a closed merchant account and a stop on the TMF list. Chargebacks are something that happens often in the tech support industry, and your merchant account provider should have a plan (and preferably a chargeback suite to help issues along) to get you the best outcome possible.
Do they offer terminal options? If you are an in-store merchant with room for a big, bulk terminal, this isn’t something that you typically need to ask about. However, online merchants and merchants that wish to accept mobile payments need to make sure that their merchant account processor understands their need – and offers up what they want. Not all mobile payment systems are alike, so be sure to understand what they are offering you.
Are they educated in your issues? Each specific industry has its own issues. While some claim to understand the problems in all high risk industries, they need to prove it to you. Do they have educated and knowledgeable staff that focus on just your industry, or do they have people who handle every industry? The tech support industry has different issues than the e-cig industry, and you need to make sure that your merchant account provider understands this.