High risk merchant account for travel business
According to acquiring banks, travel business is a high risk business and therefore it requires a high risk merchant account. For travel businesses, it becomes essential to accept payments online using credit cards, since it is the easiest and fastest modes of receiving payment for a reservation.
However, as travel businesses are considered high risk, it becomes really difficult for travel merchants to acquire merchant accounts with most banks. This is where merchant account providers come into play – these help a merchant meet a bank or financial institution that would offer a high risk merchant account.
Service providers, such as Advanced Merchant Systems, have a network of acquiring banks and other merchant account providers. This association assists service providers to provide high risk merchant accounts to all types of businesses including travel businesses.
Why opt of travel merchant account
Travel business on a boom; internet has become the best and most convenient way to approach travel business. Travel businesses are on the stiffest competition ever. Just every merchant wants to be ahead of the other. To keep in competition, travel portals and websites have become the need of the hour. Websites are useless, if a prospective traveler cannot book a travel.
To be able to book a travel package, customer requires a secure payment alternative on the website, using which the customer can make payment for his booking. To be able to receive payment through cards online, a merchant requires a merchant account – in this case a travel merchant account. This will be an account, where all the payments received over the website will be credited.
Benefits of a travel merchant account
- Quick and consistent credit card processing
- Cost effective, and convenient way to process credit card payments
- Secure payment processing method
If you are a travel operator or a travel agent, if you have a website, and wish to accept credit or debit card payments, you must apply for a travel merchant account right away.
