Payment Gateway for Tech Support Businesses

Business process outsourcing has become one of the mainstays of India’s economy led by the services sector. You might have heard about the rise in tech-support customer care centers backed by the leading tech companies.

India leads the global services sourcing market with 55% market share that was worth US$ 200-250 billion in 2019-20.

Furthermore, the revenue of the IT and business service industry was estimated at around US$ 6.96 billion in Q1-FY2021. Together with the Business Process Management (BPM) sector, the IT sector employs more than 4.5 million people as of 2021.

The underlying business opportunities in the IT and BPM sector have led to the rise in the tech support businesses in India. However, setting up such a business has its own set of challenges, one of which is finding the right payment gateway.

If you want a payment gateway for tech support business, you’ve come to the right place. Let us help you understand the challenges related to this industry followed by a solution.

Irrespective of whether you provide tech support for applications, software, connectivity, or troubleshooting, you want your clients to pay you timely. While the tech support industry in India has grown significantly, many banks aren’t eager to approve merchant accounts for tech support businesses.

The underlying reason can be the rise of tech support scams in our country. As per the recent report by Microsoft on Global Tech Support Scam, India has become a hub where tech support talent is put to criminal use. In 2021, India recorded the largest increase in scams leading to people losing their money.

The rampant fraudulent activities in the tech support industry make many banks and payment solution providers avoid offering their solutions to businesses. However, this also impacts many legitimate service providers who can benefit from a reliable payment gateway for tech support businesses.

If you are a part of this industry and are looking for an online payment gateway for tech support business, you must know the related requirements to set realistic expectations.

Chargebacks are always on the top of the mind of the owners of tech support businesses. Particularly, for small-scale businesses in this sector or the ones that are recently started, providing quality support becomes a challenge.

A poorly operated business can lead to dissatisfied clients followed by a significant volume of refunds and chargebacks. Since the clients get service and not a product from a tech support business, they may also think of the services as invaluable in case of dissatisfaction.

As you already know, tech support is not cheap. You would charge thousands of rupees to a client for a one-time service. Besides this, you also want to maintain the quality of service to prevent refunds and chargebacks. Whether your business is small or big, you want to stay prepared for processing refunds and chargebacks whenever needed. This is where the selection of a suitable payment gateway for tech support business can come to your rescue.

Before you compare any national or international payment gateway for tech support businesses, make sure you set realistic expectations with the payment solution provider.

What to expect from a payment gateway for tech support businesses?

You should keep in mind the following things when you are searching for a payment gateway for tech support businesses:

To get a genuine payment gateway for tech support, you need to provide all the details that can confirm the legitimacy and reputation of your business. The payment solution providers will ask for such details to assess the risk involved, if any. You cannot move forward with payment gateway usage without passing this test of legitimacy.

For more information about the documents required for a payment gateway, click here.

Many payment gateway providers also consider the lack of refund policies on the website, privacy policy, and terms/conditions as red flags against the businesses. Hence, it makes sense to prepare your official business website with the required information before you apply for a payment gateway for tech support business.

The objective here is to let the payment gateway providers know that you are running a legalized business before they approve your merchant account.

In terms of payment gateway features for your tech support business, you need to keep in mind the ease of integrating the payment solution. The availability of robust APIs and pre-built plugins for different hosted platforms will make it easier for you to start accepting payments online.
If you work for international clients, it is important that your payment gateway enables international payments. It would be better to accept all payments from one payment solution rather than having to integrate a distinct international payment gateway for tech support business.

How to select or compare a payment gateway for tech support business?

Comparing payment gateways for tech support businesses means getting into the details of their specific features and how they can benefit you in the long run. Instead of selecting a payment gateway randomly, a thorough payment gateway comparison can help you in multiple ways.

You will get to know about various features of different payment gateways in India.
You can check the business-related benefits of each of the available payment gateways for tech support businesses.
If you have payment gateway recommendations from your peers, you can assess them better with a detailed comparison.
You can check the pricing differences between multiple payment gateways.
You can make an informed decision to select a genuine payment gateway for your tech support business.

Here’s a detailed guide to payment gateway comparison you can follow.

Select Paytm Payment Gateway for your tech support business in India

To maintain the operations and growth of your business, you want to get paid by your clients timely. The right selection of a payment gateway for tech support business will ensure a seamless payment experience for them all. Look no further than Paytm Payment Gateway – the leading payment gateway in India that supports big businesses and unicorn startups.

The following features of Paytm Payment Gateway make it a highly suitable choice for tech support businesses: