Start Your Payment Processing with a High-Risk Tech Support Merchant Account
Start Your Payment Processing with a High-Risk Tech Support Merchant Account
Even if your tech support is software, application, product related, installation, connectivity, or troubleshooting we can give you a tech support merchant account setup for your high-risk outsourcing business. Binary gateways are the service provider for all the high-risk business holders.
The Tech Support Industry
As we can see the technology industry is one of the rapidly growing industries in the current scenario, banks aren’t anxious to sanction merchant accounts for businesses in this particular segment, which would grant them to process payments, counting credit card purchases.
Let’s talk about the truth, once the bank hears the word “tech support” they start their thought process by “tech support scams. We can see over the past few years, scammers concealed under the shape of tech support have cheated people with their personal information and money.
Common advantages include scammers throwing pop-up messages that give signals to the users about computer issues. The “techs” that call to give users claim that they have perceived viruses or infections on a client’s personal computer.
Then, the user is insisted to pay a huge fee or choose in a subscription plan to go through a problem which is not even existing and safeguard it from other issues in the future. Scammers do this, again and again, grabbing various people’s confidential information and money. In reality, the Federal Trade Commission takes on average than consumers lose $24.6 million direct from tech-support scams in 2019 and 2020. On average consumer ejects about $280 on every scam.
Due to the uncontrolled fraud and the huge chargeback linked with these businesses, banks don’t want to sweep the possible loss. Therefore, legal tech support businesses that want to accept credit card transactions need to work with high-risk merchant account providers, Binary Gateways. You can apply today for a tech support merchant account by using Binary Gateway’s quick, online application.
Binary Gateways narrow in payment gateways for high-risk merchants, counting remote tech support businesses. With a commitment to towering quality customer service, Binary Gateways works with businesses to obtain the personalized payment solutions they need to get success.
Merchants can get accepted in as small as 24 hours. Once accepted, Binary Gateways can set up a payment gateway for you to fight against evil. Also, a fraud filter can be made for online payments.
Merchant accounts for all types of tech support businesses
Binary Gateways gives you merchant accounts to various types of businesses in the technical support industry, together with those that give you remote services. Other tech businesses are approved to offer the following services:
- Hardware and router configuration
- The browser and email support
- PC optimization
Apart from this, the experts at Binary Gateways work with new and already established businesses of all categories, merchants who are rejected or finished by another credit processor, and those with bad credit or high chargebacks.
What’s required when applying for a tech support merchant account?
An online or retail business can commence requesting a tech support merchant account today. To start, merchants should fill out the Binary Gateways online application. To keep the process moving with them, businesses should have the below-stated items on hand to make them available to processors and underwriters:
- An authorized, government-issued ID.
- A bank letter or a voided check
- 3 months of the most current bank statements
- 3 months of the most current processing statements, if needed
- Chargeback ratios must be under 2%
Additionally, every online merchant must have a secure, well-established, functioning website.
Binary Gateways doesn’t give guarantee any consent, but it does assure a simple, undemanding application process. Merchants can be approved for accounts within 24 to 48 hours.
Get tech support merchant account processing volumes raised
Many tech support merchants have the desire of building a $200,000 per month business. The main issue with this is that many tech support merchants in the end pay a monthly credit card processing volume.
Normally, this means merchants are restricted by a few sets of dollar figures that they are open to accepting via credit cards. So once you have reached the limit for that month, the merchant has to shut down his business. Beginning in this industry generally end up with a capacity of not more than $40,000.
The exciting news is that fast-growing merchants that need huge volume roofs can ask for new caps in as small as three months. The warning is that the tech support merchants must be fortunate through these particular months.
Hence, they have to show that they have low chargeback ratios, there are no dues left, and they have some money in the bank if they need a processor to think about lifting their caps.
ACH and how it works
Far from credit card transactions, no interchange fees are jumbled in ACH transactions. This saves both time and money and does not need the merchant and customer to swap check numbers or documents. It does need a customer to give preauthorization through written, verbal, or electronic permission for a business to exercise the check.
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The check is changed into an ACH transaction and it is introduced to the merchant’s payment processor via a payment gateway via a batch file transmission. Then, the merchant’s check processor dispatch the ACH transaction to the customer’s bank so the authorized funds can be debited from the checking account. It generally takes up to 6 to 7 days for an ACH payment to clear and move ahead.
Advantages of ACH
As we see the number of online businesses is growing, ACH payment processing develop and begs for all the fame. In addition to being a fast, problem-free payment solution to paper checks, it is a method for credit cards.
In addition, it permits automatic recurring billing and payments, and ACH is linked to banks all across the world.
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Categories for Tech Support Merchant Accounts
The United States and other countries, counting the United Kingdom, give four-digit numerical codes, basically known as Standard Industrial Classification (SIC) codes, to business initiation. These codes focus to recognize the basic purpose of businesses.
Businesses that vend products and services connected to the tech support industry come under these codes:
- 7379: Services Related to Computer, Not Elsewhere Categorized
- 8748: Business Consultancy Services
- 7389: Business Services.
Most remote technical support businesses use these two NAICS codes:
- 541519: Other Computer Related Services
- 541618: Other Management Consulting Services
Visit the United States Census Bureau’s Northern American Classification System to view the complete NAICS code list.
Tech Support Merchant Account
Binary Gateways is quick and easy to work with. Once your merchant account is done with the process, you can start channeling funds from US-based companies or your other place of outsourcing business. Find how easy it is to put in and get the process commencing for your tech support business.
- Competitive rates
- Multiple Secure Payment Gateway Programs
- No VISA/MasterCard Required
- Chargeback Protection
- No Application Fees