8Dec
RISK-FREE TRAVEL WITH TRAVEL MERCHANT ACCOUNTS

Rapid growth in the travel business is outpacing the travel merchant since many international travelers desire to experience the world and are ready to spend money to have new adventures. Travel Merchant Processing for around 10.3% of the global GDP and employs more than 300 million people worldwide. Nowadays, travelers feel comfortable paying online to travel with vast growth in global e-commerce, card brands, online transaction with apps, bank transfer, etc., which will result in 20 billion card payment circulation by the end of the year. Travel merchant accounts keep it simple for travelers to pay online from where they are; your merchant account will be helpful in sales channels, MOTO ( mail/ phone orders) and retail locations.

Why are travel merchants known as high-risk?

Travel merchants are known as a high- risk because the industry has a greater likelihood of chargebacks than the standard risk in business. There are three main reasons for chargebacks from travel merchants is:

  1. Purchases made in advance: the payments for a trip, like loading charges, transportation fees and other expenses, are paid weeks or a month before the travel occurs. The period between the payment and the actual trip will cause the consumers to charge back transactions.
  2. High average tickets: expenses associated with a trip, for example, tours, tickets, accommodations and other costs, are often expensive.
  3. Industry risk: banks usually charge fines when chargebacks exceed the ratios by card brands; once the travel companies declare bankruptcy or experience difficulties with finance, banks take a huge hit.

Due to these reasons, effective management of chargebacks is essential for all travel merchants.

Merchant Processing

Choose national ACH for your travel merchant accounts:

Here are some reasons to choose National ACH for your travel merchant account:

  1.  Extensive banking network
  2. High-volume merchant accounts
  3. Multiple payment methods
  4. Fraud protection
  5. Super customer service
  6. Take payments any way you want.

Advantages of travel merchant accounts:

  1. Mobile payments
  2. Rapid approvals
  3. Multi Currency payment processing
  4. High payment processing capacity
  5. US and International travel merchant accounts.
  6. Competitive rates, etc.

 Visit the right place to learn more about Travel Merchant Processing; here it is https://hrma-llc.com/travel-merchant-account/,visit the website for more details.