Every year, the event ticket industry makes billions of dollars. It seems there’s always a concert, performance, or sporting event that consumers are aching to attend. Entrepreneurs who want to get into this business, often experience a great deal of initial success. However, long term success is difficult to maintain without access to a payment processor that enables credit and debit card transactions for your customers.
A merchant account is granted to a business via a payment processor like a bank. Having a payment processor lets that business diversify its payment options for its customers. So instead of cash and checks, your event ticket company can accept credit and debit cards. Unfortunately, the event ticket broker industry is considered “high risk.” This means that traditional sources will refuse to offer even the most responsible of business owners a merchant account. And if they do grant you a merchant account, they will charge you higher fees than businesses in other industries that are not high risk.
So what makes being a “high risk” account worthy of second class treatment? Absolutely nothing. Payment processors, especially now, only want to handle accounts that they believe pose moderate to low risks. While every event ticket broker business is not the same, for many of these processors the variable nature of the industry makes it a risk not worthy of investment.
But event ticket brokers do have a chance to gain access to profitable online transactions through credible, dependable payment processors like eMerchantBroker.com. The high risk merchant account managers at eMerchantBroker.com specialize in building and maintaining merchant accounts that other payment processors will deny or burden with excessive fees. Contact us today to learn how we can expand how you do business with a low hassle event ticket broker merchant account with eMerchantBroker.com.