Get
a Seamless and friendly Merchant Account for PC Technical
Support/Computer Repair/Virus Removal
Getting a
reliable, affordable and secure tech support merchant account is a
hugely challenging task, payment processing solutions at a
cost-effective and customized model to suit individual business is
highly time-consuming but essential for a successful business
enterprise. A tailor-made merchant account service contributes a
major share in the profitability of the tech support business and is
indispensable.
A rich virtual
terminal with a highly secured payment gateway reaps a lot of benefit
for the business in the long term, as clients vouch for the services
which are safe, secure and fast. Selecting a good merchant account
service provider has a huge impact on the day to day operation of the
business, and also determines the future ready services which the
tech support business constantly evolves on.
Why & what
to look for in a Merchant Account?
Today more than
80 percent of the transactions are done online, hence dependency on a
good virtual terminal to process a high volume of transactions is
absolutely essential. Points to remember while selecting a merchant
account service are:
Do they
provide custom-made solutions for the business type we have
do they have
a good customer base, so that their services can be availed without
all the marketing, media hype
Do the rates
offered impact the profit margin of the company or are it a viable
option?
the services
include constant feedback and follow-ups in case of embedded
software up gradation or to newer technologies
Will it be a
safe payment gateway with all the important card information being
keyed in?
Do they
offer mobile app version, which is compatible with iPhones/Droid
Applications? And will it be beneficial for the business?
The constant
relation with the requirement of the business and the service
provider is important to build a strong foundation with the customers
if the company is newly established, or if they are adopting new
methods to increase the customer base.
Why is the
business a high risk?
With the usage of
internet and scores of websites selling their products and services,
banks have become cautious while lending advances, loans to
establishments. They are highly wary of the fact that certain
services like PC tech support, computer repair, and virus removal
companies are high-risk business owing to the fact that:
the presence
of customers are worldwide, and the services offered to different
countries remotely may not be regulated and taxed
since it is
purely customer service oriented service, disputes are obvious and
chargebacks are high,
the volume
of transactions processed is high due to which a lot of personal
information is keyed in could be a personal data sharing issue
since all
the calls, services are mostly done online or in calls the
transactions are classified as Card not Present even by banks
fraud
detection becomes a challenge in this business
there could
be multiple underwriting banks, which could be another hindrance
The rates
offered for being in the high-risk category could be high and not
feasible for the business.
What does a
high-Risk Payment gateway do?
They handle all
the transactions which come from all the processors, with the best
services in handling PC tech support, computer repair services
including:
complete
transactional processing, both in-house and from other sources
have a
streamlined process for handling high volume and high-value
transactions
are able to
cover the risk and multiple underwriting settlements
proactively
avoid chargeback’s, with alerts where they are possible
give a
complete reporting toll for the company to access all the necessary
reporting requirements
Have around
the clock 24/7 customer support network to address client queries
and resolve them quickly.
Choosing a
High Risk Vs Low-risk Processors
The more high
risk a business is, the more is the fees charged to cover the chances
of any situations which could be loss bearing for the service
provider. Since this business is mostly done online without the
physical card being done away with, they are classified in the
high-risk card, not present category. Choosing a high-risk payment
gateway is ideal for such business owing to the high-value
transactions done over the phones and online.
Payment
processing companies act as a link between the merchant account and
the e-commerce website of the customer, however banks are highly
cautious in providing finance to this industry due to a poor credit
record, or unable to settle or pay earlier loans taken, the high
amount of chargeback’s which ultimately result in denied/shut off/
or closed by other processors.
Newly established
enterprises have a tough time is getting a service provider, as banks
do not take the risk of financing the new business. All they look for
a company with established credit history to fund in their
requirements, however for nominal higher rates there are companies,
who offer global payment solutions which service a new company in the
business of computer repair, PC tech support.
Rolling reserve
is again a hindrance to newly established business as a portion of
the credit card sales are held by the bank or the merchant account
service provider as a contingency fund in case of any consequences,
which eats into the profitability of the new company and reduces the
margin of profits earned. High-risk payment processors offer no
rolling reserve options to the customers who have just started their
new enterprise, and once they build in the customer base they are in
a good position to give a reserve.
Choosing the
payment processor with above-mentioned options could lead to either
an offshore or domestic service provider. Choosing the best out of
the rest to suit the requirements of the business is important,
domestic service providers have lower rates, and accepts only local
currency; however an offshore service provider accepts payments in
all currencies, could have a higher rates owing to the services
provided to the clients in different locations across the world.
Providing the best services:
fast
approval, of the application process
no hidden
charges
quick
resolution of queries
no
unnecessary fees like PCI Compliance fees, Statement fees
free account
set up and installation
competitive
rates
no rolling
reserve fund requirement suitable for newly established enterprise
online and
24/7 Customer support
Choosing a highly
customer friendly and good network Merchant Account service provider
for a customer-centric business like Pc tech support, computer repair
is imperative to the growth and sustenance of the business in the
long run.
