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Merchant Account Application – Average Ticket
One of the most important figures on the merchant account application is the Average Ticket. This represents the size of your average credit card sale.
It is important to provide an accurate estimate of the Average Ticket when applying to accept credit cards. At times it can be difficult to estimate this figure, especially for a new business. If you are not completely certain about the figure than provide your best estimate.
Every bank in the merchant services industry routinely monitors the size of ticket charges as a fraud protection measure. To ensure seamless and uninterrupted service of your account, be sure that your initial estimate is as accurate as possible.
When considering your average ticket, be sure that it makes sense for your industry.
For example, I have seen a furniture store that stated the average ticket at $15. There are some deep discount furniture stores out there, but I haven’t seen any furniture stores that discount quite this deep! It turns out that $15 was the low ticket for this furniture store, and not the average ticket.
I also once saw a restaurant with an average ticket of $1500. I like a nice meal as much as anyone, but $1500 is a bit much for an evening meal! In this particular case, it turns out this applicant was really a caterer for large parties, and with this new information it made perfect sense.
Set yourself up for success by providing an accurate estimate of your average ticket size.
And remember that whether your average ticket is $5 or $50,000, Best Merchant Rates offers Large Corporate Pricing to everyone. We are leading the payment processing industry to extend Large Corporate Pricing to everyone, regardless of how large or small.
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