OVERCOMING HURDLES | WHAT YOU CAN DO TO GET MERCHANT ACCOUNT

Merchant Account for Running Tour and Travel Business

• Find consultants who specialize in the helping high-risk merchants finding a merchant account.
• We at merchant stronghold provide you the same.
• If you have a good record of risk, fraud, and charge-backs, you will be required to provide at least 6 months of prior financials to prove it.
• The best side of this is that if you can provide financial statements of 3 years, you will have more leverage to negotiate a better deal.
• Startups with a weak or non-existent record, you must accept a very well relationship.
• A common mistake that everyone does is to find big banks and merchant account providers.
• If these processors receive any hint that you are high risk, there is a chance that the merchant account will get a termination.
• Develop and put into action a strong fraud prevention plan. Introduce new tools that will help you detect and fight fraud.

Purchase a financial failure insurance plan to boost financial security.

These actions will be enough to get a merchant account for your tour and travel business. Just because of rejection for a merchant account before, doesn’t mean you will not get approval again.

When it comes to your business plan and financials, providing complete transparency is a great way to build trust. Your business model matter, it will work to not only survive in the current market but also thrive.

It is necessary for you to choose the best merchant account provider to better your newly founded organization. You can reach us at +1 (888) 622-6875 or email to info@merchantstronghold.com

High Risk Merchant Account for Travel Agency & Travel Industry

Travel-oriented businesses are considered high-risk merchants as far as credit card processors are concerned. And, 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.

Know The Risk!

You will also need to comprehend the potential risk related to offering travel services online. Significantly more vitally, knowing what to expect as far as requirements and processing procedures are here. And, selecting a high-risk processor with the knowledge, capability, and willingness to effectively instruct and guide you is very important.

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.

To mitigate your risk and assure your acceptance for a high-risk merchant account, you will need to set up card acceptance policies and procedures to address several risk-related issues, including for example:

An approval request that is clear by an issuer indicates that the credit card account is in good standing. In any case, the endorsement is NOT proof that the valid cardholder is making the purchase, nor is it an assurance of payment. Be advised that, in most cases, airlines are liable for fraudulent card-not-present transactions, even when they were endorsed by the card issuer.

High-risk Travel Agency Business; your association may not really be a Visa or MasterCard merchant, subject to the Credit Card Associations’ rules, regulation and policy. However, the airline is a Visa and MasterCard merchant and it is subject to their rules and regulations. Understand that, in most fraud-related transactions, the airline transfers financial liability to the travel agency it has partnered with as part of the contractual agreement. In such cases, your association will bear full financial responsibility.

For more information on high-risk processing for the travel industry, 

Please Contact Us | +1(888)-622-6875. 

Email ID | info@merchantstronghold.com

Credit Card Processing For Travel Agencies & Related Travel Services

Merchant Account for Travel Agencies

Travel-oriented businesses are considered high-risk merchants as far as credit card processors are concerned. And, 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.

Know the risk

To mitigate your risk and assure your acceptance for a high-risk merchant account, you will need to set up card acceptance policies and procedures to address several risk-related issues, including for example:

High-Risk Travel Agency Business; your association may not really be a Visa or MasterCard merchant, subject to the Credit Card Associations’ rules, regulation and policy. However, the airline is a Visa and MasterCard merchant and it is subject to their rules and regulations. Understand that, in most fraud-related transactions, the airline transfers financial liability to the travel agency it has partnered with as part of the contractual agreement. In such cases, your association will bear full financial responsibility.

An approval request that is clear by an issuer indicates that the credit card account is in good standing. In any case, the endorsement is NOT proof that the valid cardholder is making the purchase, nor is it an assurance of payment. Be advised that, in most cases, airlines are liable for fraudulent card-not-present transactions, even when they were endorsed by the card issuer.

How To Choose Payment Services Provider For Your Travel Industry

Having the capacity to accept online payments is urgent in the movement of business. You need a route for your customer to pay online for their travel experiences! It is safe to say that you are a gathering travel organization or tour operator seeking an efficient, simple and reliable payment gateway organization for your customers? This is what you have to know to enable you to locate the correct travel industry payment gateway.

Real-time payment processing 

One of the simplest measures is to define high-risk accounts. Real-time processing is a way to recognize or point out frauds. Instead of waiting for approval and accepting payment at a scheduled date, real-time payment is processed at the moment. It is an essential requirement for Travel Agencies and tour operators under MCC 4722. We also offer electronic invoicing, recurring billing, and fraud prevention.

Customized Accounts and Management

Standard merchant accounts don’t have flexibility; you need a customized account to deal with high volume transactions. With time, your travel business will expand and limited payment methods won’t work. High-risk accounts should have features such as “cash control and cash flow” management.

High Risking Account in Multiple Currencies

Don’t choose a Payment service provider who doesn’t deal in multiple currencies. There are a number of possibilities when you expand your business on the internet. You can sell Travel packages to clients from other parts of the world. A Merchant account in multiple currencies can be a good future investment. For suppose, if you are a UK based merchant and you receive payment in dollars, your account should act as a bridge between two different currencies.

Fraud Detection

Travel agencies and Tour operators are high risking businesses, which mean there is a high possibility of frauds. A technical system that assists you to predict the reliability and authenticity of a transaction is what you need. It can protect your high-risk account from frauds with the help of information gathered. A system that gives special attention to larger transactions.

Why Merchant Account Important for your Travel Business

If you run a travel agency as the tour operator, or hotel operator planning to the same then you must be excited by the opportunities in High Risk. Before start receiving online funds, you must setup payment gateway for your merchant account. Your online payment gateway basically makes it possible for your customer’s payment to reach the merchant bank’s processor.

OVERCOMING HURDLES | WHAT YOU CAN DO TO GET MERCHANT ACCOUNT

Find consultants who specialize in the helping high-risk merchants finding a merchant account.

We at merchant stronghold provide you the same.

If you have a good record of risk, fraud, and charge-backs, you will be required to provide at least 6 months of prior financials to prove it.

If these processors receive any hint that you are high risk, there is a chance that the merchant account will get a termination.

A common mistake that everyone does is to find big banks and merchant account, providers.

The best side of this is that if you can provide financial statements of 3 years, you will have more leverage to negotiate a better deal.

Startups with a weak or non-existent record, you must accept a very well relationship.

Develop and put into action a strong fraud prevention plan. Introduce new tools that will help you detect and fight fraud.

These actions will be enough to get a merchant account for your tour and travel business. Just because of rejection for a merchant account before, doesn’t mean you will not get approval again.

When it comes to your business plan and financials, providing complete transparency is a great way to build trust. Your business model matter, it will work to not only survive in the current market but also thrive.

It is necessary for you to choose the best merchant account provider to better your newly founded organization. You can reach us at +1 (888) 622-6875 or email to info@merchantstronghold.com