Payment Processor for Travel Businesses

Get a World Class Merchant Account for Travel Agency! With the Global Economy returning to steady growth, and an increasingly global minded population, the demand for travel related products and services is projected to steadily grow in the years to come. Travel Agencies (including individual travel agents), tour operators, Travel Clubs, Discount Clubs, Hotel Booking, Travel Memberships, Travel Brokers etc. Allowing your customers to have access to your business anywhere and accept credit card payments anytime is of utmost importance to this industry. One of the most key aspects to opening and running a lucrative tour operator agency is the capability to yield cash from your clientele.

Solutions for Your Business Model

A Merchant Account that fits the specific needs can be a challenging task from Banks. It is not easy. Given how the hypersonic automation is advancing; there is lot of confrontations of travel business model which has to fit in neatly with the pre-existing conditions to obtain a customized online merchant account. The online merchant account or the internet merchant accounts do transactions using either a virtual terminal or shopping cart on the merchant website. Since the card is not present during the online transactions the risk of frauds are high unless the gateway which enables credit card transactions on a secured basis. Online merchant accounts use a software system that is integrated into the travel agency account website which allows to do transactions automatically and in real-time over the internet.

The process to obtain an online travel agency merchant account is straight forward and not complex. It involves:

• Filling the online application which is simple and takes very less time by applying directly.
• Send the ancillary credentials like owner’s ID, business check, bank statements and other relevant information.
• Send the ancillary credentials like owner’s ID, business check, bank statements and other relevant information.
• Approval of underwriters which gives a green signal to startup the payment gateway, with a security deposit equaling the turnover, Rolling Reserves, Personal Guarantee.
• With the virtual terminal and payment gateway set up for e-Commerce can start processing credit and Debit Cards.
• Integration of chargeback software which will give alerts, fraud detection alerts.

The following categories are covered in the travel agencies:

• Travel Clubs includes the luxury, leisure travel at affordable rates where owners from various customer service and travel industry.
• Discount Clubs offer huge savings on memberships with popular restaurants, hotels, retailers etc.
• Hotel Booking include online booking of budget hotels with comparisons to similar ones in the industry with numerous hotels and booking sites with links to all booked automatically.
• Travel Memberships may sound a little bizarre but are huge money savers with the recent developments in the travel industry.
• Travel Brokers are fastest growing in the travel industry community and are best value for money for the amount of research done on promotions, offers and quality service.

Categorized as High Risk

With the wide categories of services of travel agencies, accepting credit card payments is still a big obstacle because of the fact that they have a hard time in obtaining a merchant account. For someone who is looking to start a travel agency or any of the above types of travel business, it is important to understand that this type is considered high risk as: The travel services cost are high and nearly all the transactions are high value amounts which have high risk associated with it. Chargebacks are quite frequent in the travel industry because of the high chances of customer cancelling the payments as a change of mind, or there is a change in the company policy. Trips and tours are usually booked months in advance which stands a high chance of cancellations, chargebacks, refunds, amendments. Features of a perfect merchant account for travel agencies Simple and streamlined application process with faster approvals. Competitive rates and terms of travel service for merchants account set up, including startups. Robust dispute warning and chargeback prevention service to the client. Credit card processing solutions for both domestic and offshore merchant account units.

Denied by Credit Card Processor Providers

Many credit card processing companies do not want to take risk including FirstData, PayPal deny services to this industry mostly due to credit issues, a bankruptcy or on moral grounds due to legal implications. Considering the apprehensions of risk related industry there are several high-risk merchant account service providers which provide merchant account services with normal rates. Just because you are a startup business does not alone classify for risk. It is an uphill task to get a merchant account for new businesses as they do not have an established credit card transforming history, large bank balances, in long time in the business which are lacking for a new business. It is best to have a good business plan, copies of supplier contracts, invoices, sales and quality assurance projects reports which give a legitimate and real hold about the new business.

Domestic Processor Best Solutions

Many high-risk processors offer domestic merchant accounts for travel agencies as the rates vary and are usually less. Offshore accounts have an edge of freebie international merchandising and airing to international customers, come with a higher rates and fee tag. In the event of any dispute, merchants may lack the means to defend themselves. Your requirement should be met with the wide range of choices and what is exactly right for your travel agency business model.