High Risk Merchant Account for Ticket and Event Sales Business

A merchant account can help your ticket and event sales business to accept cards. Your website requires this account so that your customers can buy your products from anywhere. Not only payment system, but your priorities should be to offer safety and security. These features can be provided to your customers by associating your website with payment gateways. A customize payment gateway that is suitable for your ticket and event sales business.

Most ticket providers are third party vendors performing credit card processing for a particular event. They pay back on weekly or monthly basis after the event has ended. When you want immediate payment on the event day, or when you need funds so that you can promote the event. Not having immediate funds can cause problems for you. We can provide you the exact solution, but first here are some disadvantages of third party payment processors that don’t offer you maximum benefits and security.

Disadvantages of third party payment processors

• Most of the ticketing and event sales companies earn by adding some amount per ticket fees to the total price. All the extra fees are paid by your customers and it may discourage them.
• Keep in consideration that your funds may not be available to you immediately.
• Credit card refunds are only subjected to 3rd party payment processor policies. Usually, the face value of the ticket is refunded, and ticket awarding body is responsible for handling fees and processing charges that come along.
• You may see an increase number of chargebacks. Especially when customers don’t recognize the name of Ticket Company that has appeared on credit card.
• The credit card that is processed via a third party processor is not available to you, and it can be difficult for you to trace the transactions.

Merchant stronghold Processing

You need to understand the difference between an online merchant account and internet payment gateway. They both are separate entities and they are necessary if you want to integrate online payments into your ticketing business.

Internet merchant account will receive payments from customers and then those will be transferred to your bank account directly. An internet payment gateway, on the other hand, is a bridge between a credit and a merchant account. A gateway will be serving your customers; they won’t hold funds for you.

 Ticket and event sales credit card processing

• Having a merchant account can benefit your ticketing and event sales business in many ways:
• You will have immediate access to the revenue. All the funds are sent to your bank account
• A company will appear on bank statement of your customer and charges will be convenient for your customers. There will be chargeback management when customers fail to recognize a particular transaction on a monthly statement.
• There will be detailed transactions such as how many were successful and how many were declined.
• There won’t be extra charges
• There will be full control of refund policies, and additional charges will not be imposed on your ticket and event sales business.
• After integration of payment gateway on your website, Your customers would have opportunity to see the new offers in trend and can purchase with any offer they’d like themselves
• You will have the option to refund any sale that you or your customer wanted reimbursing.
• More flexibility for customers to pay for what they’ve purchased through the several payment methods.