Travel-oriented businesses are considered risk merchants as far as credit card processors are concerned. Therefore are among the most difficult business types to acquire successfully accepted for a Merchant Account. The reason is that experience demonstrates that customers are impressive. They are more able to dispute and chargeback travel agency transactions than most others.
Domestic & International Account
International merchant accounts are the best solution if you have target markets outside of the US.
- Establish accounts with acquiring banks in all the regions in which business is conducted.
- Save money on processing fees by taking advantage of the lower intra-region interchange.
- Decrease foreign exchange expenses
- Pay local vendors and workers in local currency
- Gain access to alternative payment methods popular in many parts of the world
A domestic high-risk merchant account works well. The USA acquiring banks will accept travel merchants. Now, many US travel merchants combine domestic travel merchant accounts with offshore processing to:
- Mitigate risk by diversifying location of banks
- Obtain higher processing volumes. Offshore accounts often have no caps on processing.
- Take advantage of business benefits offered by some offshore jurisdictions
- Understanding your risk exposure will help you take sufficient steps to minimize it. Also, protect your travel agency from losses associated with chargebacks resulting from customer disputes and fraudulent transactions.
For one thing, starters you should apply for a Merchant Account with the suitable kind of payment processor. This implies one that represents considerable specializes in high-risk merchant accounts–otherwise, you are simply wasting your time and money. Fortunately, there are a few several processing networks available that do specialize in such higher-risk merchant types, unfortunately at a little-enhanced cost consistent with the improved risk involved.
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