Many business-to-business (B2B) and business-to-government (B2G) customers require unique payment options when placing big-ticket or large-volume orders. As a merchant who services this market, you can use large ticket credit card processing to reduce the high transactional costs normally associated with B2B and B2G purchases.
A large ticket interchange program is designed for merchants who accept high-dollar credit or debit card transactions. Whether Visa® or Mastercard®, each association offers different rates and programs to best serve your business.
A large ticket interchange program reduces the cost of accepting major credit card payments — similar to Level 3 credit card processing. When you can accept large ticket payments, new markets open for your business, increasing your bottom line in a cost-effective manner.
Because security is a main priority, ensure that your large ticket credit card processing solution is equipped with PCI-compliant data protection to prevent sensitive payment information from ending up in the wrong hands. Be sure your merchant account provider offers the highest levels of security to process every single transaction, tracking it from inception to settlement.
Another benefit of large ticket interchange processing is decreased payment collection time, measured in Days Sales Outstanding (DSO). Instead of waiting 45, 60, or even 180 days after sending invoices for payment, you may receive your deposit in as little as 24-48 hours depending on your payment provider.
To learn more, contact our merchant services team today.
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