Many in the Remote Tech Support (RTS) industry sell their clients “support packages” online. These packages give the buyer access to support personnel who can diagnose technical problems and, sometimes, take over control of their home/business PC in a remote way to diagnose and solve technical issues. If this is your business, then you must accept credit cards.
That said, you should know right from the start that the credit card processing companies and their affiliated banks (aka “underwriters”) consider the Remote Tech Support industry to be “high-risk”. In fact, may high risk processors consider RTS to be “too risky”.
It is not your fault. You have done nothing wrong. That’s the market. The problem is that the RTS industry has a higher than average number of fraud and abuse cases, as well as large numbers of “charge backs”. Therefore, RTS is treated as a higher risk category and charged higher-than-average processing rates. As a rule of thumb, processing rates for many online services run in the 2-3% range, whereas rates for RTS companies run in the 4-5% range.
None of this should matter much to you since this is an industry rule and cannot be avoided. It also means your competition also has this problem.
What should matter to you are two things:
- You MUST have several legitimate, reliable Merchant Accounts;
- You MUST have a reasonably large monthly volume limit – which gives you room to grow you company.
(If you currently have one Merchant Account then we recommend you go out and get two more.)
In order to obtain an American Merchant Account for RTS the following are required:
- Your company must be located in the U.S.;
- Your call center and all technicians must be located in the U.S.;
- The bank where your money is deposited must be located in the U.S.;
- We can provide Offshore Accounts when necessary
If either your call center or company headquarters are located in India (or anywhere outside the U.S.) then your only alternative is to get an OFFSHORE MERCHANT ACCOUNT. These Offshore accounts have one big advantage: You may process large numbers of transactions on international cards without running afoul of the international card restrictions demanded by most U.S.-based processors.
QUICK FYI: A credit card is considered “International” if the card holder’s bank is located outside the U.S. This applies EVEN IF the cardholder was inside the U.S. when the transaction was made. All US-based processors have limits on the percentage of International cards you may process in a given month. Your Merchant Account can be terminated if you surpass this limit. If you accept, or want to accept, large numbers of International cards then having an Offshore Merchant Account is the best solution. Offshore rates are in the range of 7-10%.
This might sound daunting but please remember that your ability to accept payment via credit cards really is your entire business. So many of our merchants have come to us in a panic, having recently been refused by their primary bank or terminated by their current processor.
There is really not need for a panicked rush.
It is imperative that you preemptively solve this problem by setting up additional merchant accounts now – so you will not be impacted by banking decisions your current processor may make in the future.
Please take just 30 seconds in filling out the “30-Second High Risk Assessment” on the right so we can tell you how we can get your high risk credit card processing up and running quickly or call: