Furniture

Furniture retailers are moving online in increasing numbers. Traditional furniture businesses are accustomed to traditional merchant services providers. Banks however are more hesitant to open merchant accounts for furniture businesses that are online than those with retail locations.

The bankers have categorized online furniture businesses as high risk due to chargeback rates. Furniture that is damaged en route to the customer during the shipping process leads quickly to chargebacks and disputes, which causes banks to shy away from this online sector.

The average transaction, or average ticket for online furniture stores is high in comparison to other online businesses. This average ticket and higher volume also causes issues for traditional credit card processing companies.