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A travel merchant account allows your business to accept credit and debit card payments from customers, offering them a level of convenience that not only attracts them in the first place but makes them come back for more of your business. Unfortunately, the travel industry is considered a high risk to many banks because it’s such a dynamic business that can have a high chargeback rate.
Luckily, your business can still get a merchant account, and it should.
With so many ways to boost your business, it’s best to work with the best merchant services provider for you. Here’s why you should have a merchant account if you’re in the travel industry.
Running a business that caters to a variety of people in a variety of different areas can be difficult if you can only accept payments one way. With a travel merchant account, you can accept payments around the globe, as long as your customers have a credit or debit card.
This means that twenty-four hours a day, every single day, your customers can be paying their bills and fees without the need for you to accept their payments over the phone or in person. This provides both them and you with a convenience that’s unmatched with other payment solutions.
When you get a merchant account, you’ll also receive a virtual terminal for your website, which expedites the payment process for you and your customers. A virtual terminal exists within your website and makes it possible for your customers to enter their own credit card information without having to be in your physical business location.
This means that you can accept payments any time of day and from anywhere in the world.
When your customers pay for items and services online, they want to know that their payments are secure. After all, you don’t want your customers paying online only to find that their personal information has been hacked and used to make purchases elsewhere. With a merchant account, you’ll also provide your customers with a secure gateway that protects their transactions with encryption.
Fraud protection provides both you and your customers with extra insurance so that your business is safe from thieves and people who may be trying to commit fraud against your business.
As a travel business, you’ll likely have high volumes of chargebacks because people typically change their minds when making travel plans and want their money back. With chargeback prevention in place, you won’t have to worry about your account getting shut down or being subject to additional fees.
When looking for the best merchant account providers for your travel business, make sure to work with a company with extensive experience working within your industry. We understand that your business is unique, and accepting card payments is absolutely crucial to its success.
Florence Carpenter is passionate about ensuring that the process of opening merchant accounts is as straightforward as possible. She graduated from the University of Michigan with a bachelor’s degree in Marketing.
