Why is it important for ticket brokers to have a merchant account? Ticket brokers need secure credit card processing that is fast and reliable because these businesses operate in real-time. In addition, though their services may differ, ticket brokers have one major thing in common – high-risk merchant accounts.
What determines this risk? The answer is the elements of the ticket broker’s business model. In the event that the business model falls within a processing firm’s “risky” category, you will be forced to use a provider that accepts higher-risk business models for processing.
Some of these elements consist of:
- The type of services you provide
- How you choose to advertise
- Your shipping method
- Your retail price
- The consumer support you offer
- Your credit history
- Your sales procedures
If you have a good processing history, your influence in receiving a reasonable merchant account processing rate will be higher. Even though your business falls under the category of high risk, it is still possible to receive fair terms. When dealing with the merchant processor, you can expect the following:
- A request for 3 to 6 months of recent bank processing statements
- A higher discount rate if you have a below-average processing record
The advantage of having an online payment gateway is that it allows your business to take orders via your website using real-time processing. Instead of your customers experiencing delays, they will enjoy instant and secure approval.
For startups and small brokers struggling to find a bank willing to open a merchant account, the process involved is covered with requirements, red tape, and waiting periods. Emerchantbroker.com offers services for online ticketing and travel agencies that have been neglected by traditional service providers. With emerchantbroker.com, you can expect no application fees, competitive rates, and a secure payment gateway.
Struggling to lock in a merchant account with traditional banks, look no further and start an event ticket broker merchant account with EMB right now!