Are you looking for a new Tech Support payment gateway provider? Then you’ve come to the right place. It’s unusual for a Tech Support business to get either a merchant account or a payment gateway from their traditional bank. The industry is considered to be high-risk by all financial institutions, and even mainstream payment gateway providers like PayPal. But that’s not going to stop you from starting and operating your business.
Why is Tech Support Payment Gateway Considered To Be High Risk?Tech Support is a much-needed type of business in an ever-growing technological world. More than 81% of all Americans own a smartphone, and about three-quarters of the population owns a laptop or a desktop computer. And that’s not even looking at business.
Despite this obvious need in the market, and the inevitable and continuous growth of the Tech Support industry, it’s still considered to be high risk by the banks – and because of that, they rarely if ever will be one of your potential Tech Support payment gateway providers.
Tech support has been considered high risk for many years. A big part of this is the rise of many scams, where someone will pretend to be a tech support rep and sell an unsuspecting consumer a shoddy solution for a problem they don’t actually have. This happens to this day with scammers who call people up and claim to be Microsoft Support representatives, and they can see an issue with the victim’s Windows installation.
The fact that this scam is still going on after about a decade in action means that they are able to scam enough people for it to be profitable. And even though your business is in another dimension compared to such practices, you still have to deal with the fallout of these illegal activities. Chief among them is your inability to get a regular bank to be your Tech Support payment, gateway provider.
But there are also shady practices being employed on the consumer side… The very people your business is trying to help. Tech Support companies suffer a rather high number of chargebacks made by customers who claim the transaction to be fraudulent. They get your service for free, and you lose revenue and maybe even get slapped with a fine – not a pretty picture. And it makes the whole industry high risk because banks hate chargebacks (because they also lose money on them). So what can a humble Tech Support business do to get paid around here?
Get Help From Best Tech Support Payment Gateway ProvidersIn your search for Support payment gateway providers, you need to start looking at providers who offer high-risk merchant accounts and high-risk payment gateways. There are many such providers out there, and typically they don’t care about what the banks thought of your application, because they are used to dealing with businesses that got rejected by their bank when asking for a payment gateway.
5 Star Processing is just such a provider. No, we’re not the only one – but according to our clients, we are one of the best. We’ve worked with 5,261 businesses since starting our company in 2018. High-risk industries are our specialty, and because of that, we can offer you a payment gateway with very low processing fees.