Are you a merchant who regularly processes big transactions, between $5,000 and $30,000? It would benefit you to work with a merchant provider who specializes in high ticket merchant services.
Traditional merchant accounts are not designed to process big ticket items. Some examples of high ticket merchants are businesses selling electronics, furniture, collectibles, jewelry, and luxury goods. Banks and processors usually label merchants who regularly sell these and other big ticket items as high risk. One reason is that customers buying high ticket items are more likely to request a chargeback when the item does not meet their satisfaction. If a customer is unsatisfied with a $15 picture frame they may let it go, but if they are unsatisfied with a $5,000 camera they will most likely ask for their money back. Banks also consider high ticket merchants a high risk because it is more difficult for a business to cover a chargeback for a high ticket item than for a low or average ticket item. Because of the higher risk, standard merchant accounts create more difficult criteria and standards for high ticket merchants.
The best processors for high ticket merchants are high risk credit card processors, who calculate the chargeback threshold by number of chargebacks instead of the total dollar value of chargebacks. If they calculate by total dollar amount, a high ticket merchant could cross the threshold far too quickly.
Limitless can match your business with a high risk processor that specializes in high ticket and high risk merchant accounts. We have extensive experience in the high risk merchant services industry, and will help you through every step of the process. We are 100% committed to getting our customers approved for high risk merchant accounts.
If you are a high ticket business looking to get approved for a high risk merchant account, call us at (516) 384-6655 or use the easy apply now form on this page to get started!