How to get Travel Merchant Account??

1. What is Travel Merchant Account? Getting a merchant account approved for the travel agencies and time shares is hard work. When you own a travel agency or sell time shares, you are going to want your business to be able to accept the credit card payment. The meteoric rise of peoples travelling overseas on holiday brought on the cheap airfares and package deals has signalled a boom time for those business – operating tours and excursions in the tourist hotspots. Research from the World Travel and Tourism Council is predicting that worldwide tourism revenues will get top $25 trillion by the end of year 2021. In order to operate a tourist industry, merchant accounts are necessary for the travel operators from all spheres of the industry, from major global airlines to the tiny independent hoteliers and excursion operators. As most of the travel operator within the travel industry will be well aware of the merchant accounts for tourism industry businesses that fall into the high-risk category. So, it is vital to manage the risk that your customers pose in order to limit the amount of the chargebacks you are faced with. Why the travel merchants are classified at a high risk? The main reason of the travel companies to be classified as high risk is because the industry statistically has a greater likelihood of chargebacks than the standard risk businesses. The travel industry experience an estimate of $25 billion of chargeback in the fraudulent transactions yearly. The three main reasons of why the acquiring banks are concerned about the chargeback from the travel merchant account are – . High average tickets –Tickets, accommodations, tours and many other expenses associated with a travel are often expensive. Travellers may try to defraying the expenses by disputing a transaction even though it legitimately authorized by the consumers. . Purchases are made in advance –Transportation, lodging and other costs associated with a travel are paid for weeks or months before the trip occurs. The extended time between the payment and actual trip can cause consumers to the chargeback transactions if there plan changes, buyer’s remorse sets in or life events interfere. . Industry Risk –Banks take a big hit from the chargebacks when the travel agencies or companies declare the bankruptcy or experience any financial difficulties. How we can help you? Hometown merchant services has partnered with a wide network of domestic USA banks, domestic merchant providers, USA credit card processors and overseas offshore processors who specialize in the high risk industries such as this. We focused on providing the comprehensive and affordable travel merchant account for our clients. We pride ourselves in providing the most reliable, affordable and secure travel merchant account services to our clients for their travel agencies all around the world.