Air Travel Merchant Accounts Provide Solutions to Airline Industry Risks

Dec 13, 2016

When you’re at the airport these days, it feels like everyone else in the world is there too. Business trips, vacations, holidays – the list goes on. A report by the International Civil Aviation Organization stated that 3.5 billion passengers chose to fly in 2015. The International Air Transport Association shared that it expects that number to jump to 3.8 billion next year. If you’re a math whiz, you might have realized that 3.5 billion is nearly half the world’s population.

With so many people traveling, it might come as a surprise to hear that air travel is considered to be a high-risk industry. Many management teams find it hard to believe that it is difficult to obtain credit card processing. After all, who doesn’t love the fun and the meaning traveling brings to their life. Even so, airline and travel agents struggle to find a merchant account provider that will offer their services.

The airline industry experiences high chargeback rates, fraud, refunds and high volume sales, all of which label the industry as high-risk. With over 50% of airline reservations made online by credit card, it’s easy to see why payment processors would shy away. In addition, high chargebacks can lead to crippling costs for the business itself. The bottom line: airline businesses must seek solutions for their credit card processing needs elsewhere.

Air Travel Merchant Account

There are many business types that are considered high risk. More and more of them are turning to alternative providers like eMerchantBroker. As a high risk specialist, EMB has years of experience in helping high risk businesses secure payment processing solutions. Each merchant account, for example, is specifically tailored to meet the unique needs of each industry it works with. For the airline industry, services can be obtained via an air travel merchant account.

As long as your chargeback rate is kept under 3%, EMB can easily help you manage and process your account and payments. More good news, a bad credit history is not a problem. A merchant account with EMB can actually help build your personal and business credit. Merchants can also take advantage of the chargeback prevention and protection programs.

An air travel merchant account is easy to apply for. The application process is known for being fast, simple and hassle-free. Merchants will also find the lowest possible rates, exceptional security and proven platforms. For the startup hoping to keep up with the ever-growing airline industry, having safe and efficient payment processing services is a must.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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