Services and Solutions We Provide
Electronic commerce (or ecommerce for short) has completely changed how we do business. Gone are the days when people had to carry large sums of money to business deals. Nowadays, almost all business transactions are processed online. The rise in popularity of ecommerce can easily be accredited to the ease and security it has introduced to transactions. Companies are now expected to be ecommerce friendly, and the ones who don't meet this expectation run the risk of going out of business.
The first thing that a startup needs to be deemed 'ecommerce friendly' is a merchant account. Simply speaking, a merchant account allows businesses and firms to accept payments made via credit and debit cards. Given the popularity of payment cards these days, it comes as a surprise to no one that merchant accounts are extremely popular these days.
The surge in the popularity of payment cards has had ripple effects on many industries. For example, the high average tickets industry is now also required to accept payments made via credit or debit cards. Thus, by association, high average ticket sellers are required to have merchant accounts. People who have been in the business long enough know that it is very hard to find a secure and reliable merchant account that allows you to deal with high price ranges. That's where we step in. Our services ensure that none of our clients lose their customers just because they don't have access to a merchant account that can deal with high price ranges. A detailed list of our services for high average ticket providers is mentioned below.
Most startups will find that setting up a merchant account is no walk in the park. Not only is the process of getting a merchant account quite difficult as it is, but if your organization deals with high average tickets, you can find it to be even more of a daunting task. This can prove to be disastrous for organizations looking to establish themselves in the market as they can find themselves without the ability to accept payments via popular credit card carriers like American Express or Visa. Moreover, a high average ticket seller may find that they have to go through a stringent application process to get a merchant account and even then, there's no guarantee that their application will be accepted. Credit card processors like PayPal reserve the right to deny anyone a merchant account without any justification and can exercise that right with your business application. We make sure that your startup doesn't suffer such a major setback and make the entire process of applying for and getting a merchant account as swift as possible.
What makes us unique is that we have years of experience in the field and are well versed in the tools of the trade. For example, what our competitors won't tell you are the advantages that your business can reap should it opt for a recurring billing scheme on your website. Subscription-based billing allows you to charge your clients automatically from your website, which is ideal for newsletter or monthly membership fees. This is the ideal billing scheme for high average ticket sellers who have clients who make periodic trips out of the country.
You are also required to set up a payment gateway for your merchant account. Your payment gateway allows you to receive payments from your clients via payment cards. However, you can't only use a payment gateway as sometimes, the situation calls for a virtual credit card terminal. To the common man, they may look like the same thing, but to the more experienced users, there are subtle differences.
Your online payment gateway basically makes it possible for your customer's payment to reach your account. Similarly, a virtual credit card terminal is just another way of accepting credit cards. Virtual terminals permit the merchant to access their accounts online. Once you've done this, you are required to manually enter the credit card sales. Thus, before you opt for either option, it is important to understand the benefits of each. If you're a provider who deals with high average tickets, there are many great payment gateway options for you to explore.
High average ticket providers must also entertain the possibility of using multiple underwriting banks. You must first remove the common misconception that using multiple underwriters is a high-risk move. There is no added risk if you switch from one underwriting bank to multiple options. In fact, we encourage our clients to make the jump once they feel their business is ready for it.
Underwriting is important because it is a detailed analysis of your credit. This ensures that you are well informed before approving a loan. One aspect that all underwriters must consider is credit history. Simply put, a credit history is a record of a client's repayment of debts. A good credit history highlights that a client is known to repay his loans in the agreed duration and promotes goodwill for future transactions. Similarly, clients with bad credit histories should be avoided at all times. Thus, it is important to consider your potential client's credit history before granting him a loan. On the other hand, clients who are hindered by their poor credit history are encouraged to repair their credit score before applying for a loan.
Merchant accounts have many complications that must be appreciated if your firm is to make a name for itself in the market. Thus, it is essential to select an organization that knows all the tricks of the trade. We always ensure that our clients are prepared for the fluctuations of the market and aren't caught unawares by any unforeseeable circumstances. There are many high average tickets providers on our list of clients, and the reason they have opted for us instead of our rivals is that we inspire trust and goodwill while promoting reliability.