Resale / Secondary Market

Introduction

The Resale or Secondary Market is where consumers can buy and sell items such as event tickets, making it a dynamic sector for merchants and payment service providers (PSPs). This marketplace significantly affects how brands engage with customers and manage inventory, presenting unique challenges and opportunities in the realm of payments. Understanding the implications of ticket resale is crucial for successful merchant onboarding and seamless payment processes.

• The resale market thrives on immediacy; transactions often occur in real-time, creating pressure on PSPs to provide instant payment solutions.
• Ticket resale platforms face regulatory scrutiny, demanding transparent and compliant payment processes that enhance consumer trust.
• Merchants in this sector must navigate fluctuating prices and ensure adequate security measures to prevent fraud during transactions.
• Integration of intelligent payment processing solutions can dramatically enhance user experience, setting a brand apart in the competitive secondary market.

To excel in the resale market, merchants must prioritize seamless payment integration and robust compliance strategies, ensuring a smooth experience and fostering customer loyalty.

Business Model Overview

The Resale / Secondary Market comprises businesses that enable the buying and selling of items — often tickets — after their initial sale. These companies typically operate on platforms that facilitate transactions between individual sellers and buyers. Understanding their business models is crucial for payment service providers (PSPs) and merchants, as they need to navigate various payment flows, risk factors, and onboarding complexities unique to the resale environment.

Subcategories of the Resale / Secondary Market

One prominent subcategory is Ticket Resale, where event tickets are resold by fans or brokers. This market often sees dynamic pricing models where ticket values fluctuate based on demand, necessitating a payment system that can adapt swiftly. PSPs must be equipped to handle high volumes and the associated risks of fraud, especially during high-demand events.

Another subcategory includes Luxury Goods Resale, such as designer handbags and watches. Here, platforms facilitate the sale of authenticated goods, requiring secure payment solutions that can validate the authenticity of items. The risk of counterfeiting means that PSPs must be diligent in their onboarding processes.

Collectibles Resale represents yet another niche, where items such as trading cards or vintage memorabilia are exchanged. This market often thrives on community trust and transparency. Payments in this sector might require escrow services to ensure that buyers receive genuine products before funds are released to sellers, complicating the payment flow for PSPs.

Lastly, there’s Clothing Resale, where platforms specialize in pre-owned apparel. Here, payment systems must accommodate lower price points but higher transaction volumes, requiring an efficient processing framework. Onboarding complexities may revolve around ensuring that sellers adhere to platform-specific guidelines and maintain quality.

The diverse business models within the Resale / Secondary Market highlight significant implications for PSP evaluation and onboarding processes. Being familiar with the specific needs and risks of each subcategory can aid PSPs in tailoring their offerings, thereby optimizing operations for merchants.

Market Size & Trends

The Resale / Secondary Market, particularly in the realm of ticket resale, has emerged as a powerhouse within the global economy. With sports events, concerts, and theater productions just a click away, this market continues to grow as consumers increasingly turn to resale platforms for hard-to-get tickets. Pay Service Providers (PSPs) are closely monitoring this growth because it not only impacts transaction volumes but also influences payment methods and security considerations in an evolving marketplace.

Globally, the secondary ticketing market was valued at approximately $17 billion in 2022, and it is projected to reach around $33 billion by 2028, with a compound annual growth rate (CAGR) of around 11%. North America reigns as the largest market, accounting for nearly half of the total revenue. However, we are witnessing rapid growth in regions like Asia-Pacific and Latin America, where events are booming, but traditional ticketing systems struggle to keep up. This creates a unique opportunity for PayTech adoption as merchants in the resale marketplace seek to optimize payment acceptance and onboard engaging, secure solutions.

Understanding the trends shaping this area is crucial for anyone involved in the resale or secondary market:

• Mobile Resale Platforms: Mobile apps for ticket resale are gaining momentum as consumers prefer the convenience of purchasing tickets from their phones. This shift is forcing PSPs to enhance mobile payment solutions, simplifying the user experience and encouraging more transactions.

• Dynamic Pricing Models: Similar to the airline industry, resale tickets are now adopting dynamic pricing, where prices fluctuate based on demand and urgency. This trend pushes merchants to seek sophisticated payment systems capable of handling real-time price changes without fail.

• Enhanced Security Measures: With the rise in ticket fraud, especially on unauthorized platforms, security in payments is becoming paramount. Merchants are now partnering with PSPs that offer advanced fraud detection tools, ensuring safer transactions for buyers.

• Blockchain Technology: The use of blockchain for ticket verification is emerging as a trend, creating transparency and trust in transactions. PSPs integrating with blockchain systems can establish a robust identity verification process, aligning perfectly with resale’s need for authenticity.

• Buy Now, Pay Later (BNPL): The growing popularity of BNPL options in ticket purchases allows consumers to secure their tickets without full upfront payment. This trend not only appeals to younger buyers but also increases conversion rates, prompting merchants to work with PSPs that cater to installment payments.

• Sustainability Initiatives: As consumers become more environmentally conscious, resale markets are focusing on promoting sustainable practices. This entails better tracking of items and encouraging the resale of unused tickets, compelling PSPs to develop eco-friendly payment solutions.

For merchants operating within the Resale / Secondary Market, understanding these market dynamics is essential. The rapid growth and evolving trends indicate a vibrant ecosystem with significant opportunities. As ticket resale platforms seek to streamline payment processes and enhance security, we're likely to see increased collaboration with innovative payment solutions, making it easier for customers to engage in this ever-burgeoning marketplace. Looking ahead, aligning financial strategies with these trends will be critical for merchants aiming to prosper in this competitive sector.

Payment Methods Fit

In the Resale / Secondary Market, understanding the payment methods that consumers gravitate towards is crucial. Payment preferences directly influence consumer satisfaction and can determine whether a transaction is completed smoothly or abandoned. As the landscape of secondary ticket sales continues to evolve, it's essential for both merchants and PSPs (Payment Service Providers) to align their strategies with consumer behavior, ensuring they meet the expectations of today's savvy buyers.

So, which methods really matter in today's Resale / Secondary Market? Credit and debit cards continue to dominate owing to their familiarity and convenience for immediate ticket purchases. However, an intriguing shift is observed as digital wallets gain traction, particularly among millennials and Gen Z, who favor apps for their smooth user experience.

Looking regionally, methods like Buy Now, Pay Later (BNPL) are transforming ticket resale by offering flexible payment options, making high-demand events more accessible to consumers. For instance, while BNPL is skyrocketing in popularity in the US, its global appeal is building, particularly in regions where consumers are looking for financial flexibility.

On the other hand, the use of cryptocurrencies remains a niche yet growing avenue, leveraging the unique appeal of digital currencies for tech-savvy buyers. However, challenges like price volatility and regulatory issues continue to impact broader adoption.

In the end, as merchants prepare to onboard with PSPs in the Resale / Secondary Market, they must ensure they can support a diverse range of payment options. Such flexibility not only increases the chances of conversion but also aligns with evolving consumer expectations, ultimately driving success in this vibrant sector.

PSP & Provider Ecosystem

Navigating the payment ecosystem is vital for any merchant operating within the Resale / Secondary Market, particularly when it comes to ticket resale. The providers you choose not only impact your onboarding success but also your overall operational efficiency and customer experience. A well-matched payment partner can mean the difference between seamless transactions and frustrating roadblocks.

Mainstream PSPs

Mainstream Payment Service Providers (PSPs) like Stripe, Adyen, and Worldpay have made names for themselves by offering user-friendly solutions and robust technology. However, when it comes to the Resale / Secondary Market, these providers often approach onboarding with caution. Why? The unique characteristics of the ticket resale business, such as fluctuating ticket prices and the potential for fraud, make these merchants a higher risk profile.

For example, while Stripe provides a straightforward interface for e-commerce sites, its risk assessments may lead to hesitations in processing payments for resale merchants where tickets can change hands multiple times. Similarly, Adyen may have robust fraud detection systems in place, but their risk management might throttle the onboarding of resale businesses.

Niche / High-Risk PSPs

Enter niche or high-risk PSPs, which are akin to specialty clinics — they understand the specifics of the Resale / Secondary Market. Providers like Payza and PaymentCloud cater explicitly to industries deemed high-risk, including ticket resale. They offer tailored service plans that accept the inherent risks but come with trade-offs such as higher transaction fees and more stringent monitoring practices.

This means that while merchants may face increased costs, they benefit from onboarding processes specifically formulated to handle the complexities of ticket resale. For instance, PaymentCloud usually implements manual reviews of transactions to spot potential fraud, enabling sellers to offer reassuring transparency to their customers.

Banks & Acquirers

Financial institutions, particularly acquiring banks, play a crucial role in merchant onboarding. These banks classify businesses using Merchant Category Codes (MCCs), which can significantly affect the approval process. For resale businesses, particularly in the ticket sector, a mismatch in MCC can create challenges.

In the U.S. and EU, these regulations tend to be tougher compared to more flexible markets like APAC, where banks are often more acquainted with secondary transactions. Thus, if you're a merchant in the Resale / Secondary Market, understanding your bank's criteria can help you avoid costly delays and rejections.

Alternative Payment Methods (APMs)

Local champions like Pix in Brazil, Alipay in China, and Klarna in Europe are becoming increasingly relevant in the ticket resale realm. These APMs often serve to bolster consumer trust, providing payment options that are familiar and comforting. In a market that relies heavily on trust, offering a variety of payment methods can be the key to conversions.

However, the onboarding process for APMs can differ significantly compared to traditional card-based methods. While credit card processing might be more established, APMs often require additional layers of compliance and verification, which can slow down the onboarding but improve user acceptance.

Platforms & White-label PSPs

Another useful option for merchants in the Resale / Secondary Market lies in leveraging platforms and white-label PSPs. These providers act as orchestrators, allowing businesses to access multiple PSPs and APMs through a single point of integration. This not only reduces the friction often encountered during onboarding but also offers flexibility in payment processing.

With orchestration platforms, the barriers to entry can diminish significantly. Merchants benefit from diverse payment options under one umbrella, enhancing their customers' buying experiences while capitalizing on competitive advantages.

In conclusion, when navigating the PSP ecosystem in the Resale / Secondary Market, it's essential to choose your providers wisely. Understand not just the compliance requirements, but also how their unique offerings fit your business model. The right provider can drastically improve your onboarding experience and operational success, making preparation and fit as crucial as ever. Engage actively with these complexities, and you'll create a smoother path for your ticket resale ventures.

Geography Insights

Geography plays a pivotal role in the Resale / Secondary Market, particularly when it comes to how merchants onboard and which payment service providers (PSPs) they can work with. The varying regulatory environments and consumer behavior across regions affect the ease of entering this dynamic sector. Understanding these geographical nuances is vital for any merchant in the ticket resale business looking to optimize their operations.

In North America, the Resale Market thrives due to fewer regulatory hurdles, allowing for relatively straightforward PSP onboarding. Ticket resale platforms like StubHub have set a precedence, creating a consumer-friendly environment where credit and mobile payments are widely adopted. Conversely, in the European Union, regulations can be more stringent. Policies surrounding ticket resale can differ significantly from one country to another, complicating the PSP acceptance process. This necessitates careful research for merchants.

Meanwhile, APAC presents mixed opportunities; countries like Japan are known for their robust technology landscape but also come with strict consumer protection laws that can delay onboarding. In Latin America, nations like Brazil have shown promise due to the adoption of mobile payments like Pix, yet they still carry unique challenges related to currency fluctuations and market stability. Over in MENA, the ticket resale space is growing, but local regulations often hinder the swift establishment of PSP partnerships.

Top-friendly markets:

• United States: Relaxed regulations make onboarding simple for resale merchants.
• Canada: Consumer-friendly payment options are readily available.
• Australia: Relatively straightforward regulations and growing market demand.
• United Kingdom: Strong legal frameworks supportive of the secondary market.
• Germany: Open to digital payments, fostering easy PSP acceptance.

High-barrier markets:

• France: Stricter ticket resale restrictions complicate merchant onboarding.
• South Korea: Tight regulations and consumer protections slow adoption rates.
• India: Regulatory hurdles abound, making PSP partnerships challenging.
• Saudi Arabia: Licensing and compliance can be complex for resale platforms.
• Japan: A cautious market with stringent consumer rights laws affecting entry.

So where should a Resale / Secondary Market merchant look first? Focus on regions with a friendlier landscape for onboarding and payment adoption. Conversely, prepare thoroughly for markets with high barriers, ensuring compliance and understanding local consumer preferences before diving deep.

Risk Profile

The Resale / Secondary Market is categorized as a medium-risk sector by Payment Service Providers (PSPs). This classification stems from the unique challenges and vulnerabilities associated with ticket resale, where merchant onboarding, transaction monitoring, and acceptance decisions are significantly influenced by the nature of the transactions and the customer base.

• Chargebacks — In the ticket resale world, chargebacks can be especially troublesome. Often spurred by customer dissatisfaction—such as canceled events or unauthorized purchases—chargebacks can lead to significant financial losses and heightened scrutiny from PSPs.

• Fraud — Ticket resale is particularly susceptible to fraud due to the lack of direct vendor oversight. Resellers may inadvertently facilitate scam transactions, where counterfeit tickets are sold or buyers are misled, increasing risks that PSPs closely monitor.

• AML / Sanctions — The secondary market environment may attract transactions linked to money laundering schemes. PSPs assess risks surrounding customers purchasing tickets in bulk for resale at inflated prices, which could be an indication of illicit financial activity.

• Reputation Risk — Reputation is vital in the resale sector. Issues such as negative customer experiences or exposure to fraudulent activities can damage a ticket reseller’s standing. PSPs are cautious, as any reputational damage can lead to higher transaction monitoring and increased fees.

Beyond these common risk vectors, the Resale / Secondary Market can also face sector-specific challenges, such as navigating ever-changing regulations and handling intellectual property concerns.

The implications of these risk factors heavily influence PSP onboarding processes. When evaluating merchants in the resale sector, PSPs may implement practices such as rolling reserves on transaction payouts, volume caps on sales, and extended approval timelines. This diligence helps to mitigate potential losses while ensuring compliance with legal obligations.

Risk in the Resale / Secondary Market is like a double-edged sword. PSPs must balance innovation against the threats posed by fraud and reputation management.

For merchants operating in the Resale / Secondary Market, understanding these risk factors is crucial. Prepare to adopt stringent practices and maintain transparent communication to mitigate potential PSP rejections.

Compliance & Regulation Landscape

In the Resale / Secondary Market, compliance is not just an afterthought; it's the bedrock upon which merchants build their trust and regulatory standing. As ticket resale platforms gain traction, payment service providers (PSPs) are increasingly reliant on robust compliance frameworks to mitigate risks unique to this sector, such as fraud, consumer protection, and transparent transactions.

Regulators Overview

Across the globe, various regulatory bodies oversee the compliance landscape for the resale market. In the United States, the Federal Trade Commission (FTC) plays a critical role in monitoring and enforcing fair trade practices, while state laws can vary widely, adding layers of complexity. Meanwhile, in the EU, the Consumer Rights Directive safeguards buyers' rights, necessitating strict adherence from resale platforms. Other regional bodies of influence include:

• Australia’s Competition and Consumer Commission (ACCC)
• Japan’s Consumer Affairs Agency (CAA)
• Multiple local governments with specific ticket resale regulations

Licenses & Certifications Table

Regional Differences

United States
In the U.S., compliance in the resale market is often decentralized, with individual states having their own laws and regulations. For example, some states require sellers to have specific permits for ticket resale, while others impose caps on markups. The impact on PSP onboarding can be significant, as compliance checks may extend the approval process for payment services.

European Union
In contrast, the EU presents a more unified compliance framework, albeit with rigorous standards. The EU's GDPR (General Data Protection Regulation) enforces strict data protection laws that merchants must follow, impacting payment processing and customer interactions significantly. These stringent requirements can lead to faster PSP onboarding in compliant businesses due to built-in trust from both consumers and regulators.

Practical Implications

Understanding the compliance and regulatory landscape directly affects how merchants operate within the resale sector:

• Longer onboarding times, as PSPs require thorough compliance checks.
• Higher operational costs due to the implementation of compliance programs.
• The necessity of having a local entity to navigate regional regulations more effectively.
• Stricter audits and monitoring processes for merchants who fail to comply with state or local regulations.

Here’s the catch: PSPs can’t ignore regulators. Every non-compliance incident could damage not just the merchant's reputation, but also the PSP’s credibility.

Closing Insight

In the Resale / Secondary Market, compliance is not just a regulatory obligation; it's a pathway to secure payment acceptance and long-lasting business relationships. When merchants prioritize adherence to regulations, it paves the way for smoother PSP onboarding and, ultimately, greater success in transactions.

Red Flags

When engaging with Payment Service Providers (PSPs) in the Resale / Secondary Market, sensitivity to red flags is paramount. A single misstep could result in blocked onboarding, disrupting your business operations from the outset. Here are some key red flags that can jeopardize your relationships with PSPs.

High chargeback rates
If your ticket resale transactions show a significant chargeback history, PSPs will view this as a potential financial risk. High chargeback rates indicate dissatisfaction among customers, which could raise suspicions about the legitimacy of your business practices.

Failure to provide event verification
In resale markets, a lack of verified event data can be a dealbreaker. If you cannot demonstrate the authenticity of tickets being resold, PSPs may consider your platform unreliable, leading to immediate rejection during the onboarding process.

Fraudulent reselling concerns
Any history of allegations regarding scams associated with your resale operations will put you firmly on PSPs' red flags list. Fraudulent activities not only threaten consumer trust but also place the PSP at risk for potential fines and penalties.

Unclear refund policies
Having vague or overly complex refund policies can deter PSPs from onboarding you. Clarity is essential; if your customers feel uncertain about their rights, it raises red flags for PSPs regarding your operational transparency.

Violation of intellectual property rights
If your resale platform frequently infringes on intellectual property rights—such as unauthorized use of event branding or trademarks—this will lead to an automatic rejection from PSPs. Protecting intellectual property is vital within the resale industry.

International selling without compliance
Selling tickets across borders without adhering to local laws and regulations presents a considerable risk. PSPs will closely scrutinize any resale operations that don’t have clear compliance with international standards, especially in markets known for ticket regulations.

Inadequate customer support
Merchants in the resale market must have robust customer service. A lack of effective support channels can lead to unsatisfied customers and potential disputes, raising concerns for PSPs.

To mitigate these risks, merchants should focus on maintaining transparent operations, verifying ticket authenticity, and ensuring robust customer service practices. Stay compliant with legal standards and clearly communicate policies, as this can greatly enhance your chances of successful PSP onboarding.

In ticket resale, transparency isn't just a nicety—it's your lifeline in maintaining a trustworthy business.

KYB / Onboarding Requirements

In the Resale / Secondary Market, understanding and complying with Know Your Business (KYB) requirements is critical. This sector is often scrutinized due to the nature of transactions involving resale of tickets and other items, creating a higher risk for fraud and regulatory issues. Missing or incomplete paperwork can lead to costly onboarding delays or outright rejections by Payment Service Providers (PSPs).

Core KYB Table

Industry-specific Extras

• Ticket Resale Licenses: Any local permits needed to legally engage in the resale of tickets, which vary by region and event type.
• Transaction History Records: Evidence of past sales and customer interactions to demonstrate legitimate business activity.
• Refund and Privacy Policies: Documentation outlining how you manage refunds and customer data, crucial for compliance and trust.
• Consumer Protection Compliance: Proof that your business follows laws aimed at protecting consumers in ticket resale transactions.

Regional Note

Onboarding processes in stricter regions like the EU and the US are often more comprehensive due to stringent regulations and consumer protection laws. This can mean a longer onboarding process with more stringent checks on documentation. Conversely, regions like APAC or LatAm may have a looser framework, resulting in quicker onboarding but potentially higher risks.

Closing Advice

To ensure a smooth onboarding experience with your PSP, prepare all relevant documentation upfront. This proactive approach minimizes delays and sets a strong foundation for your resale business.

Missing even a single document can hold up your onboarding process for weeks. Get your paperwork in order to expedite approval.

MCC Mapping

In the Resale / Secondary Market, understanding Merchant Category Codes (MCCs) is vital. These codes serve as your industry's ID card in the payments world, categorizing businesses for card processing. They directly impact how Payment Service Providers (PSPs) assess risk and approve applications. Hence, getting your MCC right is crucial for seamless PSP onboarding.

When dealing with the Resale / Secondary Market, it's important to note that major card schemes like Visa, Mastercard, and American Express may classify these businesses differently. Misclassifications or improper MCC assignments can lead to incorrect risk assessments. A sold ticket that falls under a high-risk category might invoke additional scrutiny, impacting your acceptance rates.

For merchants operating in this sector, knowing your correct MCC is imperative. A wrong MCC = a wrong PSP decision. Misclassification could lead to delays, increased scrutiny, or even outright denial of service. Understanding how your specific resale activities are categorized helps streamline onboarding and safeguards against unexpected hurdles.

In the world of payment processing, the right MCC is your key to smoothing out the onboarding process. Be proactive to avoid pitfalls!

Examples & Benchmarks

Understanding practical examples and benchmarks can be a game changer for merchants in the Resale / Secondary Market. By learning from industry peers, businesses can better navigate payment processing and onboarding hurdles that often come with ticket resale. Let’s explore a few notable companies and some key benchmarks that could inform Resale professionals.

Example 1: Vivid Seats
Vivid Seats is a popular online marketplace that allows fans to buy and sell tickets for events ranging from concerts to sports games. They leverage established payment service providers (PSPs) like PayPal and Stripe to handle their diverse payment methods, which include credit cards and digital wallets. Their onboarding approach for new sellers is streamlined, often offering a simple sign-up process; however, they face challenges in verifying the authenticity of tickets, which can delay some transactions.

Example 2: StubHub
StubHub is a major player in the ticket resale market, enabling users to sell tickets for various live events. They utilize PSPs such as Adyen for global payment acceptance, successfully offering multiple currencies and payment options to a worldwide audience. While their onboarding process is designed for ease, they must consistently educate sellers on minimum listing prices to mitigate issues with pricing disputes.

Example 3: SeatGeek
SeatGeek not only resells tickets but also aggregates listings from various platforms. They employ a mix of PSPs, including Braintree, to manage secure transactions across different devices. One challenge for SeatGeek during onboarding is integrating third-party ticketing systems, which can complicate payment processing for individual sellers. However, their comprehensive support reduces the friction typically experienced in the ticket resale industry.

Key Benchmarks for Resale / Secondary Market

• Average approval rate for Resale / Secondary Market merchants: 65–80%.
• Chargeback ratios above 1% can trigger scrutiny from payment service providers (PSPs).
• Recurring billing adoption among event organizers utilizing season ticket resales: >30%.
• User retention rates in ticket resale platforms often reach 50% or higher, indicating loyalty and trust.
• Conversion rates for mobile transactions in ticket resale are generally around 45%, reflecting user preference for mobile platforms.

Reflecting on these metrics, it’s important to note that benchmarks are directional and not absolute guarantees. They serve as informed indicators of market performance.

In the Resale / Secondary Market, staying updated on industry benchmarks can help merchants fine-tune their strategies and improve overall payment success.

FAQ & Expert Tips

Navigating the resale and secondary market can seem daunting, especially when it comes to getting your ticket resale business set up with the right payment service providers (PSPs). Understanding common questions and challenges can make all the difference in smoothing the onboarding process. Below, we’ve compiled frequently asked questions and essential tips to help you thrive in this vibrant sector.

Q: What are the specific compliance requirements for ticket resale businesses?
To operate legally in the resale market, you must adhere to local laws regarding ticket sales, which can vary widely. This includes understanding resale price regulations and consumer protection laws. Ensuring your PSP is equipped to handle these unique compliance aspects is essential for a seamless onboarding experience.

Q: How do chargebacks affect my ticket resale operations?
Chargebacks are a significant concern in the resale industry, particularly due to fluctuating ticket prices and buyer remorse. It’s crucial to choose a PSP that provides robust fraud protection and offers chargeback management services to minimize disruptions and losses.

Q: What payment flows should I be aware of in ticket resale?
Understanding the payment flows in your resale operations is vital. Usually, payments will involve initial buyer transactions and potential refunds or exchanges later. Your PSP should have clear processes for these scenarios to ensure funds are managed effectively.

Q: Why is it essential to have a reliable customer support channel with my PSP?
A reliable customer support channel is crucial, especially in a fast-paced environment like ticket resale. When issues arise—whether payment disputes or system errors—immediate support can help retain customer trust and mitigate loss.

Q: What common mistakes should I avoid during onboarding with a PSP?
Transparency is key during onboarding. Failing to disclose your business model, especially if you have a unique approach to ticket resale, can lead to complications later. Being upfront helps your PSP create a suitable solution aligned with your needs.

Do’s & Don’ts

Do’s:

• Research the compliance regulations relevant to your ticket resale business.
• Clearly outline your payment flow and any specific needs to your chosen PSP.
• Engage with your PSP’s customer support to clarify expectations early on.
• Monitor chargeback thresholds and work with your PSP to mitigate risks.

Don’ts:

• Don’t assume all PSPs understand the intricacies of resale markets.
• Avoid hiding any relevant details about your ticket business model from your PSP.
• Don’t neglect customer service; ensure your PSP offers adequate resources to address issues quickly.
• Don’t overlook the importance of clear communication during onboarding.

In the resale market, preparation is everything. A savvy merchant knows that a well-prepared onboarding process can set the stage for long-term success.

Always think two steps ahead. Anticipating potential payment issues before they arise can save you time and headaches down the line.

By following these guidelines and seeking clarity during the onboarding process, merchants in the resale and secondary market can streamline their efforts and position themselves for success. With the right preparation and strategy, your ticket resale business can thrive in this dynamic environment!