High Ticket & High Volume Merchant Accounts – Approved

Jan 15, 2013

Your Guide to High Ticket Merchant Accounts

If your business regularly engages in big-ticket transactions – between $5,000 and $30,000, for example – you may find it difficult to lock in a reliable and reasonably priced high ticket merchant account. Most standard merchant account plans are not designed for high-priced items, and as a result, their percentage fees don’t fairly reflect on high ticket businesses. If your average transaction ticket is over $5,000, chances are you can get a much better deal by finding a merchant account provider that specializes in high ticket merchant accounts.

Assessing Merchant Account Providers

Many traditional banks set very tough criteria for high ticket merchants before they can obtain a merchant account. This is because high ticket transactions also mean the potential for high ticket chargebacks – banks see this as raising the risk factor that a business will not have the available cash to cover an unexpected chargeback. This is why banks consider businesses with higher average tickets to be riskier than others. Banks also tend to consider these businesses to be more likely to experience chargebacks – after all, if a customer spends $20 and is unsatisfied they might let it go, but if they spend $20,000 and end up unsatisfied a chargeback is a highly likely scenario.

When you’re looking for a suitable high ticket merchant account provider, one thing you should take into account is their chargeback threshold and how they set it. Most importantly, is the chargeback threshold based on the number of chargebacks, or the total dollar value of chargebacks? If the second option is the case, you need to be wary of what the dollar value is. If your average transaction is $10,000 and the chargeback threshold on your merchant account is $20,000, that means only two chargebacks in a month could push you over the threshold
All in all, if you look carefully and compare the providers available, you should be able to find a service that can provide a merchant account suitable to your business which can help mitigate some of the risks involved in processing high ticket transactions on a regular basis. One of the most convenient ways to find the service that best suits you is to utilize a brokerage service like ours at EMB which leads to unexpected fees and penalties as well as ongoing disruption of your business.

Finding a Provider Through a Brokerage

There are some major advantages to using a brokerage service to find a high ticket merchant account. For starters, we’ve already done a lot of due diligence for you to weed out providers with poor track records or unfair policies. Based on past experience with similar clients, we can point you directly to the providers that are most likely to best suit your needs. Ultimately, having a suitable merchant account is all about relieving hassles and ensuring your business continues to run profitably and smoothly – that’s exactly what we help you do.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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