Large Ticket Credit Card Processing
Large ticket credit card processing is designed for any business that processes high dollar amount transactions. Large ticket processing is similar to Level 3 credit card processing and is normally found in B2B businesses or businesses that accept payments from the government.
How Large Ticket Credit Card Processing Works
By setting up large ticket processing, Gravity can help you lower your fees for accepting high dollar transactions, reduce the timeline to settle into your merchant services account, and provide you a safe and secure payment environment.
In order to quality for a large ticket program, you’ll need to have a payment gateway that is capable of passing through Level 3 credit card processing data.
Common Questions about Large Ticket Credit Card Processing
What is the difference between Level 3 credit card processing and large ticket credit card processing?
There isn’t really a difference between the two. If you qualify, you’re still required to provide all the same information as Level 3 credit card processing for each transaction. However, the one slight difference is that large ticket credit card processing has to accept transactions over $7,500.
What are the benefits of large ticket credit card processing?
There are three major benefits or large ticket credit card processing such as lowering your rates for accepting high dollar amount transactions, added level of security, and decreased payment timelines.
What information do I need to provide for each large ticket transaction?
You’ll need to provide all the same information as Level 3 credit card processing transactions. That includes:
- Merchant Name
- Transaction Amount
- Tax Amount
- Customer Code (sometimes referred to as Purchase Order number)
- Merchant Postal Code
- Tax Identification
- Merchant Minority Code
- Merchant State Code
- Ship from Postal Code
- Destination Postal Code
- Invoice Number
- Order Number
- Item Product Code
- Item Commodity Code
- Item Description
- Item Quantity
- Item Unit of Measure
- Item Extended Amount
- Freight Amount
- Duty Amount
Source: manufacturer website