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Ticket sales and events

Because you may only take a payment for something which the fulfillment is under your complete control, it can be extremely hard to find a merchant account if you need to use "third parties" as part of your business model. For example tickets.

What happens if the concert gets cancelled because Robbie Williams gets a sore throat, the concert is rained out, the tickets get delivered to the wrong house etc. If a concert is cancelled for whatever reason, the financial risk becomes extreme; you might not be able to refund all transactions and you could ultimately go bankrupt, leaving us to pay everything back.

However we may be able to help, but there are certain points that need to be met:

Below is a very quick bullet pointed list of the minimum amount you would need to have in place on your website and / or within your business.

  • Clear terms and conditions

  • Good refund policy

  • Good, clear contact details

  • Solid agreements with ticket suppliers, promoters, gig owners etc.

On top of these the following requirements may be placed (subject to full application):

  • 10% rolling reserve instead of 5%

  • 14 day settlement period instead of 7

  • Funds may not be remitted until after the event (again, subject to full application)

We understand that the last point can be a problem for many potential merchants, especially the smaller ones who depend on ticket sales to run the event, however these are strict and unmoving.

Please be aware that until you apply we will not be able to provide an exact list of requirements or be able to say for sure what extra terms may be placed against the account. Obviously you do not have to continue with the application if you are offered terms that you or your business can not sustain.

Please note that if a longer settlement period or rolling reserve are needed these can be reduced after 6 months worth of trading. Typically from 10% down to 7.5% and then finally down to 5%.

Please click here for more information and to apply online

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