Online Ticket Broker Merchant Account

An online ticket broker merchant account gives customers a quick and easy way to purchase tickets for concerts, shows, sports, and all types of entertainment events.

PaynetSecure establishes and diversifies credit card processing for ticket brokers through an extensive network of US and international acquiring banks.  Obtain the processing capacity you need to manage & grow your business. 

Ticket brokers process substantial volumes and large numbers of transactions per month.  Yet, due to the nature of the business, an online ticket broker merchant account is classified as high risk processing by acquiring banks. 

Reasons Online Ticket Brokers are High Risk

The primary reason for a high risk merchant classification is increased likelihood of chargebacks.  Tickets are sold for events that are weeks or months away.  The event may be cancelled.  In turn, consumers can demand refunds on tickets which the ticket broker may not be able to fulfill. 

Still, fraud is the biggest concern to processors.  Intentional fraud as well as “friendly fraud” can affect online ticket brokers.

• Intentional fraud occurs when a buyer uses a stolen card to purchase tickets. The real owner of the card may not realize that the card information has been stolen until the charge is seen on the card statement.  At which time the event for which the ticket was purchased is long past. 

• Friendly fraud is a greater risk to online ticket brokers. The real owner of the card purchases a ticket.  Then, calls the issuing bank to dispute the charge. Buyers claim the ticket was not as promised, was not delivered properly, or the transaction was not authorized. 

Regardless of the reason, the bottom line with friendly fraud is that the customer wants to get out of paying for the ticket or get access to the event for free.  And knows that issuing banks often side with their customers with disputes with merchants. 

Controlling Chargeback Risk

Chargeback mitigation is an important part of controlling risk for online ticket brokers.  Here’s some tools that are commonly used to manage chargebacks.

• Early warning systems notify you when a chargeback is initiated. You refund the customer instead of getting hit with a chargeback.
• Chargeback management services fight the chargebacks you can win. There are many chargeback codes, each requiring a specialized response in a specific format. Few companies have the internal expertise necessary to manage the complexities involved.
• Fraud prevention tools available in the payment gateway for ticket broker processing help stop fraud before it occurs. Customize rules & filters to accept good transactions, weed out bad ones, and set aside questionable ones for manual review.

Credit Card Processing for Ticket Brokers

PaynetSecure specializes in high volume merchant accounts and can obtain the processing capacity you require for your business.  Applying for an account is free, with no obligation. 

To get started, you submit an application along with supporting documents. Requested documents include processing history, recent bank statements, and identification for the signer on the account.

Multiple accounts can be established to mitigate risk.  The payment gateway for ticket broker processing lets you load balance between accounts.  Accounts are managed through a central dashboard.  Simplifying account reconciliation, customer service, and reporting functions.

Consider applying for both a US and international online ticket broker merchant accounts. International accounts have no caps on processing.  And, a combination of international and US processing helps protect your business operations.

Before applying, check your online reputation. If your company has received negative reviews answer them professionally and courteously.  This shows underwriters that you are a business that cares about customer satisfaction.