The Obstacles Ticket Brokers Face when Searching for Merchant Account Providers

Jul 29, 2014
concert-ticketsWhy 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 the real-time. In addition, though their services may differ, ticket brokers have one major thing in common – high risk merchant account.

Business Model

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 firms “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

Your History

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

Payment Gateway

The advantages 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 customer’s 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 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!

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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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