1. UNDERSTANDING YOUR HIGH TICKET

At Eliot Management Group (EMG), we work hard to make sure your electronic payment processing is an effortless, easy-to-manage service that provides your customers with the convenience they expect.  With that in mind, we’ve assembled some helpful information on avoiding situations that could lead to returned credit card charges or delays in your anticipated bank deposits.  So, here it is – everything you need to know about your high ticket.  Consider it a 7-minute investment in processing know-how.

-- The Basics:

All of EMG’s merchants have a maximum dollar amount associated with their account that limits the amount they’re able to process on a single MasterCard or Visa credit card.  This is known as a high ticket.  The dollar amount is set by a Credit Department evaluation of a number of factors, such as business type, financial stability, etc.  The purpose is to limit your business’ (and EMG’s) exposure to the risk associated with chargebacks. 

You can find out what your specific high ticket amount is by referring to the first page of the New Merchant Welcome Kit that was mailed when your account was established, or by calling Customer Service at 800-789-8897.  Keep in mind that this limit does not apply to debit transactions, American Express, or Discover cards- only MasterCard and Visa credit transactions.

-- Why Your High Ticket Is Important:

Being aware of (and educating card-processing employees about) your high ticket is important because exceeding the limit can result in having your credit card deposits placed on hold, even if you initially receive an authorization number.  If this is the case, funds won’t be sent to your bank account until the transaction can be verified (some additional details about the transaction are provided) or a return is processed to credit the funds back to your customer. 

-- Where Loss Prevention Comes In:

If you submit a transaction that exceeds your high ticket, shortly after settlement our Loss Prevention (LP) Department begins trying to contact you about the options available for either: 1. Having the transaction verified and approved (LP often requires additional documentation be submitted) or 2. Returning the charge and requesting the customer provide another form of payment.  Both options typically result in payment delays, so we suggest you take a few simple steps before a limit-exceeding situation occurs.  Read on to learn how to prevent having LP call you unexpectedly. 

-- What To Do If a Transaction Will Exceed Your High Ticket:

If you’re aware that a MasterCard or Visa credit card transaction will exceed your established high ticket, contact our Loss Prevention Department (at 800-789-8897, option 4) before processing the card for instructions on how to proceed.  As appropriate, your limit may be raised or suggestions may be provided for acceptable payment amounts and methods.

By way of warning, attempting to split a limit-exceeding transaction into more two or more transactions on the same credit card will not circumvent the high ticket amount; the transactions will still be pended and LP will deal with them as if submitted as one.

-- Requesting a Change To Your High Ticket:

If you feel your high ticket doesn’t fulfill your business’ needs or allow you to process typical transaction amounts, we encourage you to get in touch with our Loss Prevention and Credit Departments as soon as possible.  In evaluating a request to raise your high ticket, these departments will typically require a minimum three months of your business’ checking account statements to help them evaluate the additional risk.

-- And finally

At EMG, we’re committed to building long-term relationships with our valued merchants.  If you have questions about your account or experience problems with your processing or equipment, don’t hesitate to contact us.  You can take advantage of our 24-hour support by calling Customer Service at 1-800-789-8897.