Merchant Accounts for High Volume Business
Anyone who has run a high ticket and high volume business will tell you that sifting through all the merchant accounts to find the right one to work with is one of the most difficult parts of a startup. If you can get past that hurdle, the rest of it will work itself out. You'll still run into problems occasionally, but having the right type of merchant account is a solid foundation on which to build a successful company in any industry.Typical Companies We Process for Include
- Travel and Tour Operators
- Nutraceutical and Herbal Retailers
- Moto/Ecommerce Websites
- Multi-Website Shopping Cart
- Credit Repair and Restoration
- Online Pharmacies
- Debt Collection and Repayment (consumer and commercial debt)
- Tobacco Related Businesses
- Business to Business Transactions
- Inbound / Outbound Telemarketing
When running high volume businesses, especially ecommerce websites, it's important that your merchant account handles everything you need. Here is a list of some of the more crucial things you want to look for when comparing merchant accounts.
Gateway Setup - One of the major things you're going to need to operate a high volume business is a virtual terminal gateway so that you can accept electronic payments. The key here is finding a merchant account that is secure.
Check Drafting - If you have affiliates selling high ticket items on commission, you're going to want to be able to draft checks to them through your merchant account. This is something you need to ask for specifically.
No Setup Fees - Speaking of setup, you want to make sure you're not paying outrageous setup fees for your virtual gateway or anything else related to your merchant account. Some providers actually offer no setup fees at all.
Mobile Apps - Being able to take payments via a mobile device (using an app) is also crucial for ecommerce in the modern world. Imagine if you could offer your high ticket items to customers more often via their smartphones.
Chargebacks - When working at a high volume business or one that sells high value items, chargebacks are a very real issue that has to be dealt with correctly. You need to find a merchant account that knows how to handle them properly and promptly.
Multiple Options - Some people who buy luxury items for lots of money like to pay with a credit card while others may prefer using an electronic check. A good merchant account gives you multiple options when it comes to how you can accept payments.
Recurring Billing - Another good feature to have for a high ticket, high volume business is the ability to use recurring billing for certain customers. Not all merchant accounts make this easy, so it's something to ask about.
No matter what industry you're in, running a high volume (or high ticket) business requires a reputable merchant account provider who understands the specific needs of people who run these types of businesses. IBI Merchant Services has experience with high ticket / high volume businesses in multiple industries. They offer merchant accounts that have everything you could want or need to do business in the modern world.