PC Technical Support And Computer Repair Needs A High-Risk Merchant Account

With the growth of technology, there are no dearth of opportunities for the technical support team. Everyone uses a computer today and that calls for computer repair services. The big companies or small companies and even home computers could need repairs from time to time.

Online merchant account for PC technical support and repair

The computer repair team sits in a remote location and thus the transactions that happen occur online. The repair service accepts payments from the customers through the online mode and offers their service. Hence, they are dependent on a virtual terminal to be able to process transactions of a high volume.

Whether you wish to set up a brick and mortar shop or want to provide your computer repair services online, you need an online merchant account. Today there is no business that can sustain without a merchant account. The merchant account lets you do the transactions through credit cards. This is an account that is temporary in nature and where the money from the transactions are carried out and credited before it gets deposited to your bank account. A merchant account service can be applied for either through a conventional bank or through a merchant service provider.

Since everything today has gone online and many customers want to shop online,your PC technical support business can profit from having an online presence. This lets you market your products and increase customers as well as it is cost effective. The benefits of having an online merchant account are many and it is a necessity for your business.

The PC technical support is a high-risk business and has been denied by the conventional banks

The PC repair services are sold online and that has made the banks be wary of the business as they categorize the PC technical support business as a high-risk business. This is because:

• The customers are present across the world and the services that are offered to various countries are not regulated nor are they taxed

• The business is the only service related and this gives rise to many disputes which make chargebacks high

• The transaction volume process is huge and this means that a lot of personal information is stored that makes it risky

• The transactions are categories under card not present since all the services and calls are done online

• It becomes a challenge to be able to detect any fraud in this business

• The multiple underwriting banks also cause hindrance

Thus, even though computers and the internet are the in thing today and technical support is its lifeline, still this industry falls under the high-risk category for the financial institutes. The global nature of this industry, card not present transactions, high chargebacks and the high cases of frauds makes it difficult for this business to get a merchant account from a conventional bank.

The good news is that there are some high-risk merchant account providers that will let you open an account with them to suit the needs of your business.

It is not just sufficient to have a merchant account and you need a payment gateway too that is offered to you by the companies that offer payment processing. This is the link between the e-commerce website and the merchant account.

The PC technical support thus gets denied, shut off by the credit card processor because it is high risk. It is also because the business has a huge chargeback potential or if the business has a bad credit history.

The problem to obtain a merchant account for a start-up or anew computer repair service

A new business or a startup in this industry has even more trouble in getting a merchant account because the bank does not want to take the risk. The startups have still not proved their credit worthiness and they do not have any transaction history to show. In addition, the rolling reserve is a problem for the startups because even if some money gets blocked it affects them. It is thus important that the new business looks to deal with the merchant account provider who has experience in dealing with the high-risk companies and offer the no rolling reserve requirement option in their merchant account.

As a startup business, you are sure to face issues with opening a merchant account. Because banks prefer companies that have a solid transaction history. So if you are setting up a new business then your business is already a high risk one.

Should a PC technical support business opt for domestic or an international merchant account provider?

The high-risk business like the PC technical support and computer repair services take the services of an offshore merchant account provider. This is because the domestic merchant account service providers are stringent with their application process and in most cases deny these applications. But it is important to know that domestic account providers offer the gateway setup at a cheaper cost and they are also better in terms of security.

The reputed merchant account service providers would have both domestic and offshore options to let you choose what you need.

Get a friendly and seamless merchant account for your high-risk business

It is a challenge to get a merchant account that is affordable, reliable, and secure. However, make sure to look for one that offers payment processing at a reasonable price and offers you a tailor-made model that suits your business. Looking for the right merchant account provider is time-consuming but it is well worth the effort.