US Tech Support Companies Looking For a Merchant Account

Sep 20, 2016

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.

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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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