Online Payment Gateway

The huge trend in the e-commerce and m-commerce business invites a huge number of cybercriminals. A merchant needs to look after the best-secured payment gateway which gives the secured payment gateway and enclosed processing with high-security level.

Credit cards are the most commonly used method through which payment takes place. Hence the  chances of more usage lead to more scammers nad thieves which may steal the information and empty your  business

A few things the merchant needs to look after to secure his/her data.

1. PCI Compliance.

2. 3D Secure

3. SSL

PCI Compliance

When you’re processing payments on your website, PCI (Payment Card Industry) is a must. The Payment Card Industry Data Security Standards (PCI DSS) provide direction for merchants that tell them what they need to do in order to secure sensitive data in payment processing.

A merchant doesn’t have to be PCI compliant if he/she selected the right payment provider (one with PCI level 1). He/she can leave it up to the payment gateway to comply with the industry level security excellence. Note that data encryption is needed by PCI.

2. 3D Secure

3D Secure creates a secure password for the merchant’s credit card. Each and every transaction is then verified with a password, which adds an additional layer of the security.

This practice can really boost up your earning and defends again the fraudulent

3.SSL

Each and every transaction should be secured with SSL protocol. SSL helps to encrypt the information so that the card details and all other sensitive and important data is secured. It, of course, improves payment security but also makes customers more eager for the purchase.

A padlock icon in the URL bar symbolizes the SSL, and the web address starts with https.

Merchant Stronghold

Stay updated and it’s time to change the old merchant account service provider. Discard services cannot help you anymore. Merchant account holder suffers a lot once they got trapped in the hands of mischievous account provider.

Merchant at times needs to swallow the pain, and they are helpless.

Points To Look After

1.     Old Practice

Look at the services the provider is serving you. Merchant services providers should always be updated regarding the new updates in the market. The Debit and Credit card companies are always improving and bring changes likewise your business should also adapt and concur.

Without these updates, your company may suffer many losses in terms of customers, reputation, etc. A firm should properly update the payment options where they can serve their best services without any disappointing customers. Keep your firm updated on services and products.

2.     Uncertain Fees

Merchant usually gets a sudden shock after looking at his bank statement. Surprised fees are the most annoying things that the merchants have to face. This is the correct time a merchant should switch or leave the service provider. Common deductions are:

1. Account Application Fee

2. Account Setup Fee

3. PCI Compliance Fee

4. PCI Non-Compliance Fee

These are the services that the merchant is charged from the provider but unfortunately, these fees are not described on the very first day of the service. A merchant, therefore, is not left with any other option at this moment. So, keep your eyes wide and ears open before making the decision on your provider.

3. Interrupted Support

Once services are taken merchant asks for all time support round the clock. In a quick survey, some of the merchants have come forward sharing their disappointments with the current providers. Usually, they do not justify the services they give against the purchase of the service.

Whereas at times it leads to the blockage of the terminal and angry customers on the merchant’s portal.

This is how a merchant gets stuck with the services if he gets entangled in the trap of fake service providers.

Merchant Stronghold: Service Station

Merchant account is the basic necessity for the businessman and apart from that a smooth payment gateway.  Both have an equivalent ratio for the smooth and balanced working of the business.

Merchant Account

A type of account that allows accepting online payment from the customers through many ways under legal wings of the payment service provider.

Merchant The account is created under the mutual agreement between a merchant and merchant’s acquiring a bank, so to further proceed with future online payment.

Meaning Of Payment Gateway

A payment gateway is a software program that works behind the scene. It is basically a process that enables the flow of the payment securely. It’s a secure way to transfer your customer’s money safely into your merchant account. It’s really very important to have a payment gateway for the following reasons:

• It creates a trustworthy aura between you and your customers.

• It maintains a good graph in the competitive world.

• Prevents your money from fraudulent activities.

• Keeps you away from any future threat.

Short Overview

Above mentioned content shows the nature of the account, now below we can compare both of them:

• Merchant Account is an account where the funds are deposited and payment gateway is the channel from which we receive our payments.

• Merchant account holders get their amount through the payment gateway

• Merchant Account holds the money, which they earn from selling their goods/services and with the help of a payment gateway, they get their amount secured under the safety of the acquiring bank.

• Payment Gateway gives a piece of evidence for the particular transaction for future Disputes.

MerchantStronghold

A place where you will get solutions to every query. We undertake many responsibilities such as Opening Merchant Accounts, Merchant Account Underwriting, Secure Payment Gateways, High-Risk Merchant Account & Low-Risk Merchant Account profile management and much more.

Merchant Account Processing: There are many misconceptions about Merchant Accounts and their service providers. In this blog, we will try to reveal some of the facts about the Merchant Account Processing. While opting out for a merchant account, and choosing a payment gateway, businesses usually make mistakes some way or another. Whether you are new to the business or have lots of experience, you still might have some misconceptions about it.

Not Worth the Time – Firstly, entrepreneurs find that they have the best payment processing with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account.

Nowadays, there are a lot of e-commerce and m-commerce transactions; opening doors for cybercriminals. As a merchant, you need to confirm that you provide the best payment security and that your customers don’t have to worry about their data. Customers usually cannot select their own payment gateway, so it’s up to you to make the best and perfect choice for them.

PCI COMPLIANCE

When you’re processing payments on your website, PCI (Payment Card Industry) is a must. The Payment Card Industry Data Security Standards (PCI DSS) provide direction for merchants that tell them what they need to do in order to secure sensitive data in payment processing.

A merchant doesn’t have to be PCI compliant if he/she selected the right payment provider (one with PCI level 1). He/she can leave it up to the payment gateway to comply with the industry level security excellence. Note that data encryption is needed by PCI.

SSL

Each and every transaction should be secured with SSL protocol. SSL helps to encrypt the information so that the card details and all other sensitive and important data is secured. It, of course, improves payment security but also makes customers more eager to for the purchase. A padlock icon in the URL bar symbolizes the SSL, and the web address starts with https.

ADDRESS VERIFICATION SERVICE

You can also use an Address Verification Service, which requires customers to give the billing address connected with their credit card. If the address on the card matches with the one in bank’s documents, the transaction will go through.

Many companies have a problem of controlling the location and storage of their payment data, but almost 42% of the companies claim that payment data is at serious risk when it is stored. A Global Study on the State of Payment Data Security shows that over 50% of organizations had a breach involving payment data within the past three years.

We know very well about the Merchant Account Services. All we need is to understand the term “offshore”. Well, It is a type of account for a merchant in a non-resident country. So, it is a direct account but not a domestic account. It helps the merchant to process payments through their website and allows them to make a transaction and process their sale. It offers and contains all the features just like the regular and domestic merchant account. There can also be both the categories which support High-risk Business and Low-risk Business.

We know very well about the Merchant Account Services. All we need is to understand the term “offshore”. Well, It is a type of account for a merchant in a non-resident country. So, it is a direct account but not a domestic account. It helps the merchant to process payments through their website and allows them to make a transaction and process their sale. It offers and contains all the features just like the regular and domestic merchant account. There can also be both the categories which support High-risk Business and Low-risk Business.

How to Choose an Offshore Merchant Account Service

In order to get a smooth processing solution under Offshore Merchant Service category which can be helpful in growing your business one needs to be careful and follow these steps.

International Payment gateway: getting an only Offshore merchant account is not Enough but the gateway along with the account should also be an International Gateway.

Currency Support: It Should be Confirmed in Advance that Account given will Support required Currency.

Advanced Security/ verification: To protect the transaction there must be advanced Security enabled… like 3Dsecure, Card verification, Address verification facilities.

Customer Service and Support: Your Account Service Provider must be having a 24*7 and a very Supportive and caring Customer care/Support System in order to provide you any sales or technical support at the time of requirement

On-Time payout: Above all the payout must be on time which is a major requirement of each and every merchant.

It is difficult to start a business, as well as applying for a merchant account. The merchant accounts get approval or disapprove from the risk departments. While considering the business to be high-risk business or Low-risk. There are a few reasons why any business can be in a high-risk business.

Risk factors that make a business HIGH RISK

You have lost your previous merchant account due to high chargeback ratio.

Questionable sales and marketing tactics.

Potential legal and financial liability.

Your credit is really bad.

Industries with excessive chargebacks or fraud incidents.

Trial continuity business.

Previous credit card processing is not good enough.

You’ve been branded as a terminated merchant (TMF).

The high-risk merchant account categorization depends on your business’ industry. Regardless of your individual businesses’ track record. In addition, the high-risk category includes businesses that are declined by a previous credit card processors. And, businesses that are on the MATCH or TMF list. Also. the companies whose owners have bad personal credit or low credit scores or businesses outside the US.

Common High-Risk Industries

Any business with bad personal or business credit scores, a high chargeback history, a startup, or high frequency or high average tickets can be at high risk. On an individual basis, the majority of high-risk businesses are among such by the industry they operate in.

Some examples of high-risk industries include

Document Preparation

Downloadable Software

Educational Software

Electronics Business

Extended Warranties

Financial Aid Consulting

Financial Services

Fine & Cosmetic Jewelry

Insurance Providers

Magazine Subscriptions

Air & Water Filtration

Antiques & Collectables

Apparel Sales

Auto Parts & Accessories

Auto Transport

Businesses with Bad Credit

Beer, Wine & Liquor Sales

Computer Hardware

Debt Consolidation

Discount Buying Service

Online Payment Risk: Payment risk is considered as a loss if a merchant or a company handles a high volume of payments and they fail to comply with the contract.

The blockage of the payments as a source of fraud can be bounced back on the company. The truth is that every payment method involves risk. If you run an online business and process payments on your website, there is a risk involved. The major ones are fraud and operational risks.

There are many types of operational risks:

Inadequate and Failed Information Systems

Fraud and Chargebacks

Processing Errors

Breaches in Internal Sources and Control

Commercial Disputes

Unforeseen Calamity.

Since the online payments form the foundation for digital foundation services, an approach to managing and regulating their risk is the first step. A company should work for an approach for assessing the economic impact of risk from the perspectives of customers, providers, and self.

A high level of transactional risk exists with internet products, particularly if the lines of business are not planned and implemented properly. That is the reason when banks underwrite for high-risk business or any business, they always go for a check whether the business is properly planned and implemented or not, whether its website is PCI compliant or not.

Management of Risk: A merchant needs to have a quantitative approach about the risk management to identify and manage it in online payment processing

Tech Support Merchant Account Provider

It is pretty easy to get a payment processor but it’s not the same with tech support businesses. This is due to the high rate of chargeback risk involved. So when you are looking for a merchant account provider, you should always ask them certain questions before applying. These questions could go as follows:

Do you provide high-risk merchant account for tech support businesses? What about remote tech support (if relevant)? Does the underwriting department approve of it?

At times salesperson will assure you that they do provide service to tech support business and after you complete the process of applying for it, and send it for approval to underwriting department; you might find out that your application is rejected because they do not support tech support business.

Tech Support Merchant Account Fees

Our tech support merchant account fees are competitive and affordable, and our application process is free. Once our underwriting department matches you with one of our acquiring banking partners, the bank will then process your application and determine your merchant account fees.

Since banks determine fees on a case-by-case basis, we cannot provide you with exact fees until the underwriting process has been completed. However, you can contact us for your free quote.

Merchant Stronghold Can help |

Management of Risk:

A merchant needs to have a quantitative approach to risk management to identify and manage it in online payment processing :

A merchant needs to identify the most critical risks by tying them to business processes. Quantify the severity of the identified risk, if they occur Measure the size of the risk and evaluate the likelihood of it, if it is to occur again.

Detailed Risk Management At A More Granular Level:

Understand The Risks And Train The Staff – The staff should know what risks your business may have to deal with and plan for it beforehand. Everyone in the business structure needs to understand the types of risks inherent in online payments. Establish the procedures on avoiding and solving the risks. Ensure Information Security – Information here includes customer databases, buying requests, payment process. etc. It should be made sure that Information is not leaked nor hacked into. Set up a secure and efficient process for submitting authorization requests over the Internet. Before you can start accepting payments online. Use Collective Efforts To Minimize Losses – You have control over most types of chargebacks and especially the ones resulting from processing errors. A well-designed collection system can help recover unwarranted chargeback losses. Display Effective Policies And Rules – Your website must list your privacy, shipping, return and refund policies on each page. Customers should not be forced to search for them. This will also create satisfaction and convenience for customers to come to the website even more. Risk Evaluation – Fraud and any type of risk when occurs should be evaluated in first priority, by this approach the business has a guarantee of getting a sound data and planned structure to put up for future risks.

HOW TO CHOOSE THE BEST MERCHANT SERVICE PROVIDER?

Go for the Track record of various Merchant Service Providers. Before subscribing to the merchant service, you must check the previous records and reviews of that provider. If they have a positive record then you should feel free to add them to your list.

They are providing at a reasonable market price. You must check the market price for the services that you are looking for. Moreover, you can compare the prices and get the one suiting your requirements. The Efficiency of the Support Service. While using the merchant service, a merchant may need assistance every now and then regarding the charges and more. In such cases, your merchant service provider must offer nice support, preferable 24/7 support. Understand the need and requirement of your business. You must get the package or service that goes perfectly with your business. This includes subscription charges, monthly or annual limit, and more. Make sure you consider the expansion of business while choosing the merchant service provider.

THE QUESTIONS YOU SHOULD ASK WHILE CHOOSING THE BEST MERCHANT SERVICE PROVIDER

What kind of support services they offer? – 24/7 support or Live Support

Will they allow both online and offline processing of transactions?

Details related to the PCI-Compliance and other charges

How long have they been into this business and What are their customer reviews?

What is their response towards the chargeback and frauds?

What is the average fund processing time?

Details related to cancelation and fund replacement

What kind of compatibility appliance do they need or offer?

#Get Technical Support For Merchant Account In Easy Steps

This industry is termed high risk by most financial institutes and banks.

Following reasons for tech support:

Card-Not-Present Transactions (CNPT): Often for all remote tech support the physical credit card is not present during the payment process.

Chargebacks: Probably one of the main reasons for terming technical support high-risk is the high chargeback which results from the conflict between the customer and the tech support and the customer gets his money back. The merchant bank then must bear the brunt. In fact, the situation has far worsened after Visa reduce its chargeback threshold to 1 percent of sales.

Global Nature of the Industry: Most of the tech support is located in all parts of the globe, as a result, the merchant bank has to deal with multiple currencies which are not preferred by several local banks.

High Cases of Frauds: The predominantly remote nature of business has seen the rise in the number of fraudulent companies. It is really very little anyone can do to differentiate between a genuine business and a fraud.

Thankfully the picture is not as bleak as it appears. There are several merchant account providers who specialize in such high-risk accounts. These providers understand the nuances of the market and will guide you open an account suited for your specific needs. Traditional banks and other financial institutes decline the offer to open an account because of these factors often forgetting that there are several genuine companies out there.

Sadly, a lot of these tech companies depend on overseas accounts who charge preposterous fees.

#Prevent High Chargebacks and Lower Them

As a responsible and genuine company, you can attempt to minimize and mitigate chargeback in the following ways.

*Always send an email to report completion of a transaction. You can use automatic email receipts.

*When in conflict offer a refund to the customer, this is better than a chargeback.

Computer Repair, antivirus services, Remote Technical Support, IT Services High-Risk Merchant Accounts are always in high demand. 

Why are remote technical support, computer repair, antivirus services, IT services merchant accounts so hard to get? 

When you are looking for a merchant accounts provider that you can trust look no further than Merchant Stronghold. We understand your business and most importantly we know how to support you and your company when you need it most. Tech support high-risk merchant accounts are easy to get approved with our high-risk merchant account specialists are very experienced and knowledgeable both in domestic high-risk merchant accounts cross border merchant accounts and offshore merchant accounts. If you are interested in learning more about the difference between domestic and high-risk merchant accounts click here. If you are seeking computer repair, remote technical support, antivirus services, IT services merchant accounts just give us a quick call today!

#Advantages

*The credibility of your company will increase

*Simplifies the process of selling with new customers as it is quick and smooth

*This will lead to repeat sales and builds trust with the customer

*Credit cards are the simplest way to create a foothold in the market.

This means that you need to set up a merchant account to process all your credit card transactions. But a vast majority of these companies are often met with rejection. Securing a merchant account for technical support is not easy.

#The Best Tech Support Merchant Account Provider

To make your business profitable you must engage the services of a good merchant account provider who can mitigate your losses. Look out for these features in your service provider:

High-Risk Credit card processing

Reduce chargebacks or even helps in the reversal

Offers ACH payment processing solutions which are especially helpful to overcome chargeback rates and stay afloat. Most of the dues are cleared on the same day.

#Besides these points good merchant account will also have:

Payment Gateways always user-friendly

Virtual terminals to facilitate phone transactions

Provision for recurring bills, check to draft

Faster access to your payment

A safe and secure merchant account.

If you want to have a high class, compliant tech support company you need to do all you can in order to streamline your financials. Not all support companies out there tend to deliver the utmost value which is why it can be nothing short of frustrating when a merchant problem appears and your business can’t get paid. Plus, many companies use only specific payment processors which make it even harder to get paid.

Thankfully, Merchant Stronghold will help you deal with all of that in a very professional manner. No matter if you deal with companies from another state or high-risk businesses in your own country, we are here to assist and we will offer you the best financial solutions on the market.

On top of that, the payment gateway and merchant account offered by us is designed to be very reliable, professional and suitable for any company out there. We understand how hard it is for you to obtain a very good approach and with our help, you can reach those results very fast. Merchant Stronghold can also provide APIs to integrate your Tech Support Gateway with your website to accept payments online, we also pre-integrated website with the payment gateway to run your business online and accept payments only anytime & anywhere.

We also work very hard to ensure that you can easily get a merchant account in the US. Even if you are from a foreign country you will have no problem accessing the outcome you want. Plus, Merchant Stronghold is free to offer you the best electronic payment solutions, payroll, and business accounting as well as stellar financial processing for your tech support business. We can handle the challenging stuff for you so you never have to do that on your own. That’s where you get the utmost value and the outcome will be very well worth it in the end.

“Free Credit Card Processing” or “Zero-Processing Fees” or No Processing Fees” deals in the method where your customer will pay the fees instead of you as a Merchant for the services availed.

This service is called surcharging credit card where the merchant can pass the fees for processing the card to their customers. And, this plan is sold to merchants in the same of free or no-cost card processing.

So, the charges that seem like “free credit card processing” or “zero processing fees” are actually paid by the customers instead of merchants. In this article, we will discuss such arrangements that revolve around credit card processing.

Does Zero Credit Card Processing Actually Cost Nothing?

As we have discussed, in the case of zero credit card processing the customer has to pay most of the charges.

However, it is not like the merchant is not paying anything entirely. Because there are still other charges to be paid by the merchant such as :

PCI Compliance

Monthly Fees

And many more.

Generally, these plans are designed in such a manner that the processing fees are reduced to “zero” or “no-cost”. However, all the other charges are increased by a bit.

And when a customer is introduced to these prices, it seems like that the processing fees are reduced to zero.

What Does It Cost To Your Customers? The charges are generally set to 4% or less for the customer as the surcharge of no-cost credit card processing of merchant.

Also, customers are generally charged dynamically and the range is between 3.45% to 3.65%.

However, this is not any kind of hidden charge and your customer will see the surcharge in the receipt on their purchased goods and services. And in such situation, a customer can feel like being charged more than he/she should.

No customer wants to pay extra for any goods and services and if this is the case with you then you can lose customers.

It can help you to accept the payment online via card network and will allow your customers to pay online even miles away from you. You can obtain the payment from all over the world just by sitting at a single place.

How You Will Get Payment Gateway for Tech Support Business?

If you have decided to start your tech support business and have dealt with the formalities, as the next step, you will approach a well-liked bank or a processor to be able to accept payments from around the globe. Everything will be fine until you mention that your business is based on providing tech support, online, and you might get rejected. The reason is simple — the bank does not want to deal with your application because it sees tech support as a non-secure industry. The same scenario happens if you approach other popular processors.

As soon as you confirm that you have a tech support business, chances of getting a payment gateway and merchant account get slimmer. So, what’s the solution here?

We Can Save Your Business

Merchant Stronghold is your savior when it comes to seizing a payment gateway for technical support business. It helps a lot of businesses to receive payments from all over the globe for technical support services. It supports all the currencies, which is important for a business with a global reach. So, if you own a tech support business, you can apply for a payment gateway in just a few minutes. When compared to the other competitors, Merchant Stronghold is definitely the better option.

You just have to contact Merchant Stronghold experts with the information concerning your business. Our experts will soon get in touch with you, where there will be a discussing your needs, requirements and what are you expecting from a payment gateway. In just a few days, you can start receiving payments from your customers.

Why Us?