Tech Support Merchant Accounts
The tech support industry is one of the fastest-growing industries on Earth. Still, banks hesitate to provide the necessary merchant account approvals to allow them to process online payments, including credit cards. Learn what it takes to receive a fast approval for a Tech Support and High Risk Merchant Account. Accept all forms payments including e-Checks, Credit Cards, Debit Cards, ACH & Crypto and take you business to the next level.
The hesitation of banks to approve tech support merchant accounts is primarily due to chargebacks. Additionally, the prevalence of scams in the industry is ongoing and rampant. As the industry has expanded, the volume and frequency of scams have also grown. Sending pop-up messages to individual computers claiming to have detected viruses or other problems on the unit is a common way to gain access to users’ personal data. Bogus computer “techs” then follow up with calls offering subscription plans to diagnose, repair and protect units from future problems. Recurring scams like this cost users loss of money and personal information.
Rampant fraud in the industry and associated chargebacks lead banks to be reluctant about sponsoring computer tech merchant accounts. Legitimate tech support businesses therefore must turn to high-risk merchant account providers such as SecureGlobalPay. Apply today for a tech support merchant account via SecureGlobalPay’s quick online application and start accepting payments via e-Checks, Credit Cards, Debit Cards, ACH & Crypto.
High Risk Merchant Accounts for different Tech Support Services
The tech support industry contains many different types of business. SecureGlobalPay offers merchants accounts for all of them, including those offering remote services. These can include:
- Hardware and router configuration services
- Browser and email support services
- Mac or PC security services
- PC optimization services
SecureGlobalPay works with both new and established tech support services of all sizes, including those that have been TMF’s rejected or terminated by another credit processor, as well as those with bad credit or high chargebacks. Learn the ins and outs of what it takes to start accepting non cash payments like e-Checks, Credit Cards, Debit Cards, ACH, Crypto, Alt Payments and more.
Applying for a Tech Support Merchant Account
Online or traditional retail businesses can apply for a tech support merchant account with SecureGlobalPay today. Fill out our easy online application. Having the following ready will speed the application process.
- A valid, government-issued photo ID (e.g., driver’s license, state/provincial ID, etc.)
- A bank attestation or void check
- Bank statements (3 months worth)
- Processing statements (3 months worth)
- SSN (Social Security Number) or EIN (Employer Identification Number)
- The URL to your secure, fully-operational website
Tech Support Account Application Review
The first priority of underwriters evaluating tech support merchant account applications is to ensure the business in question is legitimate and reputable. Underwriters keep an eye out for red flags that indicate a business may not be entirely legal. Accepting e-Checks, Credit Cards, Debit Cards, ACH & Crypto payments for this vertical is a must. Initially submitting a clean package to underwriting will help your chances of approval.
Underwriters will always consider a merchant’s credit scores, credit card processing history, bank statements and website. Businesses improve their chance of approval by ensuring their website has the business’ privacy and refund policies clearly posted. A negative bank account balance or a history of unpaid bills, late payments and high chargeback rates increases the risk to a processor and the likelihood a merchant’s application will not be approved.
Merchants wishing to maximize their chances of approval should pay all outstanding debts and bills, ensure they have some savings in the bank and nominate a principal in the business with a good credit history to apply for the account. The goal is to assure underwriters and processors that their business does not pose a risk to a merchant account services provider. Merchants who take these steps will help improve their chances of approval and lessen the likelihood their account will include such restrictions as a high rolling reserve or processing volume caps.
Categories for Tech Support Merchant Accounts
Four-digit numeric codes known as Standard Industrial Classification (SIC) codes are common in the United States and many other countries for identifying businesses and their primary purposes.
Businesses in the tech support industry fall into the following categories:
- 7379: Computer Related Services, Not Elsewhere Categorized
- 8748: Business Consulting Services
- 7389: Business Services, Not Elsewhere Categorized
A complete SIC list is available via the US Department of Labor website.
A similar classification system known as NAICS (the Northern American Classification System) is a list of six-digit codes used by federal statistical agencies to classify business establishments. The classification system aims to gather, analyze, and publish statistical information about similar types of businesses and their impact on the U.S. economy.
Remote technical support businesses generally fall into the following categories:
- 541519: Other Computer Related Services
- 541618: Other Management Consulting Services
A complete NAICS code list is available from the United States Census Bureau’s website.