Tech Support High Risk Merchant Services – Everything You Should Know
The Internet has helped consumers find new and highly innovative ways to generate income on the side. Although making money online can be very fruitful, it also comes with some downsides, with the most notable being the need to accept credit card payments. Whether you’re running a tech support company or sell some type of product, you will need to acquire a low-cost merchant account. There are some excellent tech support high risk merchant services out there, but you’ll need to know precisely what they entail. Within this guide, you will be able to find out, so you can know exactly what to expect.
Why High Risk?
When first setting up your business, you will likely believe that you’re being labeled as high-risk unfairly. Although this could very well be the truth, you’re not the only business that has met the same fate. Since your business can perfectly fit into the tech support category, you’ll automatically be labeled a high-risk. This has nothing to do with your business or its history. Instead, it is associated with the history of the tech support industry. Since tech support companies are very prone to chargeback issues, new and old companies within this field will automatically receive the high-risk label.
What To Know About High-Risk Merchant Services
If you’ve discovered that your company is going to be labeled a high-risk, you shouldn’t freak out. Surprisingly, there is an abundance of risky companies out there that have managed to accumulate a massive amount of money and success. Although it may be slightly harder for these groups, the battle is not one that is impossible to win. Instead, you’ll just need to utilize high-risk merchant services. With these specific services, the probability that you’ll be turned down is slim to none, which can be very reassuring.
Just remember that these specific services do come with a few negatives. The most notable is the fact that high-risk merchants will generally need to pay higher fees than lower risk merchants. However, the fees can generally vary and may differ from case to case. With these accounts, you should expect to pay an average of 4% per transaction, but this can be lowered, by searching around.
All in all, tech support companies will unfortunately almost always be labeled as high-risk. Don’t let this get you down. There are some ways to get around this problem, but it may result in slightly higher fees. Just take your time and obtain quotes from various payment solution providers, until you find one that offers the best and lowest fees.
Find the Best Credit Card Processing for Tech Support – devhelper.net
International customers looking to obtain a USA based bank for their merchant account, high risk or not, you will be required to complete an FBAR Filing.