The rise of e-commerce has led to a vast boom in the number of travel merchants. No matter what the current economic conditions are, people still love to travel to escape the humdrum of their daily lives. Online travel sales have jumped from $105.1 billion in 2008 up to $162.4 billion in 2012. Despite the fact that more and more people are comfortable with using online travel merchants, banks still consider them to be a high risk merchant. Their reason for this is that, unlike other types of businesses, travel merchants do not automatically hand over a product or service when used. Customers buy a travel package for a future trip, which can lead to payment disputes and chargebacks if the customer changes their mind or some other factors come into play, such as a natural disaster, that impacts the original travel plans. These factors lead most banks to decline to offer a merchant account especially to exotic luxury travel companies. Merchant Processing Advisors can help in this situation as we specialize in high risk merchants, such as luxury travel businesses. MPA has processing partners and contacts across the globe, so they can match your company with a merchant account provider who will offer the services that a travel merchant needs as well as competitive rates.
To succeed in this digital age, a travel merchant needs unique features from their merchant account provider. Integrated e-commerce agencies now see 148.3 million bookings for travel made over the internet each year. In fact, a full 57% of all reservations are now made via the internet. Another service needed by a travel merchant is the ability of the payment processor to handle multiple currencies as the customer base will likely be international. Other services that Merchant Processing Advisors and it’s merchant account providers offer are virtual terminals, integrated shopping carts, fraud and chargeback protection, payment gateways for secure transactions, and PCI compliance guidance. Contact Merchant Processing Advisors for a free consultation where we can go over your options and figure out which merchant account providers, services an features will best fit your needs. You can also fill out our high risk merchant account application and get a number of rate quotes within 24 to 48 hours. Our services are provided at no additional cost to you.
Our services are provided at no additional cost to you.