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As a leading U.S. provider of merchant accounts, First Financial is committed to supporting businesses that exhibit the most potential, even when they fall into the “high-risk” category. With the technical services industry showing no signs of slowing down, we’re proud to deliver the ability to collect payments and win market respect to this exciting industry. Click this button to get your merchant services account approval today!
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While Apple and Microsoft probably pay their technical support companies through instantaneous wire transfer (or dump-trucks of cash?), smaller software companies and startups still pay their vendors with credit. The National Small Business Association Access to Capital Survey reported that businesses use their business credit cards for a little over one in three purchases that year. In this era of entrepreneurship, technical services businesses support their clients by taking business credit cards.
When your technical services business starts accepting credit cards, you’ll find the practice:
Whether they’re in the hardware or software space, start-up businesses in particular typically depend on credit cards. In fact, the U.S. Small Business Administration reports that credit cards make one of the most common ways small businesses get a foothold in their market. Your prospects will appreciate that you accept credit card payments.
Rejected? Terminated? Ridiculous!
First Financial Approves Tech Services Merchant Accounts Every Day
Our tech services merchant account applicants are understandably frustrated when other financial services firms reject or terminate them. The vast majority of tech services entrepreneurs run ethical operations dedicated to helping software and hardware companies and their users unleash the amazing features of high-tech products.
Unfortunately, a higher number of fraudulent companies exist in the technical services industry than in spheres like healthcare, insurance and finance. Most of this fraud is perpetrated by companies operating in India, and has little to do with American tech services companies. Still, fraud is the number one reason traditional, bricks-and-mortar banks and some online banks stay away from technical services companies.
Beyond fraud, technical services companies are commonly rejected due to another factor that most often has nothing to do with their ability to provide services.
Because device and software repair often occurs remotely, customers have the freedom to claim they are dissatisfied with it. Tech support may have done everything in its power to rectify the situation, but the operator may be incapable of comprehending the directions and the concepts. In these cases, the customers refuse to pay for the service, resulting in “chargebacks” on the account. The big banks then judge tech services based on average chargeback rates. It’s easy to see that businesses like chocolate shops and massage studios will have very low chargeback rates. Who complains about those products and services?
A+ First Financial Accommodates the Unique Challenges Facing Tech Services
At First Financial, we think applying an average chargeback rate to a unique industry robs a potential merchant account provider of a solid client and the potential client of an ability to accept credit card payments. Nobody wins. The big banks just don’t want to deal with a higher than average chargeback rate, even though many result from unreasonable customers rather than the work the company performs.
We’ve also found it’s not that difficult to separate the fraud perpetrators from the honest businesses. Common fraudulent practices, phrases and characteristics reveal an unethical company pretty quickly. While taking a few more steps to examine an applicant costs us a little more, we benefit with a lower merchant termination rate. With painstaking research, we’ve found the merchant account providers that vet their tech services companies well enough to establish solid trust in them.
Processing Equipment Sophisticated Enough to Impress those in Technical Services
Here at First Financial, we know those in the technical services business have high standards for their credit card processing equipment. Rest assured that cumbersome, expensive gadgets only exist in the oldest stores anymore. Miniaturization of devices and advances in engineering have made it to the credit card industry. If you even need physical point-of-sale equipment, we’ll send it along in a small box. We promise you’ll be delighted at how quickly and easily it sets up and starts working to bring in revenues.
Apply for Your Tech Services Merchant Account Today!
First Financial Aims to Grow WITH Forward-Thinkers Like You
Trends like the “Internet of Things,” wearable technology, intelligent wall art and 3D printing guarantees the demand for tech services will only grow. Tech services companies do their part to amaze the American public by getting and keeping these gadgets working, despite user confusion. Start collecting your accounts receivable via credit cards as tech services merchant account. Complete our easy application from any device, any location. We’ll notify you within 48 hours. The documents we need to determine eligibility can be easily scanned and uploaded. Feel free to follow us on our Facebook and Twitter pages to understand the best ways to optimize your merchant account!
 “National Small Business Access to Capital Survey.” National Small Business Association. July 2012.
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