A travel merchant account gives you the ability to accept credit payments from your customers. There are many types of businesses in the travel industry that benefit from a custom merchant account. This is because the travel industry has two major factors that banks consider high risk in regards to payment processing – chargebacks and… Continue reading Travel Merchant Account
If you are preparing to launch a travel-related business or have already done so, you are likely aware that traditional banks and other mainstream financial institutions consider travel businesses to be high risk. This means that one of the challenges you face is opening a merchant account and obtaining payment processing services. All businesses benefit… Continue reading Take Your Merchant Account for Travel to the Next Level
Payment processing for the travel industry is an ever-changing market. Businesses who offer travel services are constantly finding new ways to create travel packages and update their sales structure. For many, this means catering to different methods of payments. Vacations are a luxury item and an elastic good when it comes to an economics perspective.… Continue reading Payment Processing For The Travel Industry
Revenue in the travel and tourism industry is expected to reach $175.4 billion in 2022. The market was down significantly at the peak of the COVID-19 pandemic, but figures are already returning to pre-COVID-19 levels, even with restrictions remaining in place in much of the world. There is room for growth in the market. There… Continue reading Tips for Getting Your Travel Business a Merchant Account
Travel agents sell high ticket items and require custom high risk travel merchant services for their business. In addition, there is a high level of cancellations and chargebacks in the industry. As a result, many travel companies face difficulties with their merchant account provider. Travel booking consists of many different transactions in the scope of… Continue reading High Risk Travel Merchant Services
As discussed in another article specifically about International Chargebacks, the Internet has given even small businesses a global marketplace. In that article, we looked at the higher risk of fraudulent chargebacks and ways to prevent or minimize them. Many business owners wonder, how do chargebacks work with foreign customers? However, just as most chargebacks initiated… Continue reading Doing Business with Foreign Customers
Are Travel-Related Businesses High-Risk? When we think about businesses that financial institutions consider to be “high risk” in the context of payment processing, we typically think of industries such as alcohol and tobacco, firearms, credit repair, and adult entertainment. One that may not immediately come to mind, however, is the travel industry. Even within the travel industry, there is… Continue reading Are Travel-Related Businesses High-Risk?