The Best Credit Card Processing for a Small Business Specializing in High Ticket Items
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Running a small business that specializes in high ticket items can be great for your bottom line. However, selling high ticket items impact your payment processing options and costs. The best credit card processing for small business will give you high risk account options and better interchange rates for high ticket items. Keep reading to learn more about payment processing for high ticket items.

What Is a High Ticket Item?

In the world of commerce there is no hard rule for what constitutes high ticket items. They can be luxury products like jewelry and automobiles, but they can also be necessities like appliances and furniture. Regardless, high ticket items typically cost more than $500. Visa, MasterCard, and Discover consider large ticket items to cost upwards of $5000 or more.

If your small business specializes in high ticket items your payment provider may consider you high risk. The best credit card processing for small business will have high risk account options for you.

High Risk Account

High risk accounts are given to businesses that processors consider risky. This doesn’t necessarily mean that your business plan or model is unsustainable, it simply means that your particular business may be at risk for a chargeback or fraud. Small businesses that specialize in high ticket items typically fall into the category of high risk.

One chargeback of a high ticket item can wreak havoc on your merchant account. Because of this risk, the best credit card processing for small business models will institute a series of protections for you and your bottom line.

Watch Those Rates

Whether you sell high ticket items or low ticket items, understanding the interchange rates and fees associated with your payment provider is vital to your business. Most major credit cards and payment processors provide specially designed programs for high ticket items. These typically involve a lower rate and a fixed transaction fee. Together these form a lower effective rate for your business. The best credit card processing for small business will offer competitive rates and fees for high ticket items. Ask questions so you can determine what your overall effective rate will be.
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Specializing in high ticket items can be great for your small business. You can dedicate more time to customer service and increase your ROI. Selling high ticket items requires specialized payment processing. You may need to utilize a high risk account and you need to pay special attention to your interchange rates and transaction fees.

Allied Wallet for High Ticket Transactions

Allied Wallet specializes in customized payment processing solutions. If your small business specializes in high ticket items we can help you facilitate those sales and stay profitable. Contact us today to discuss your business needs and the facts about high ticket processing.