Amadeus Wants to Add Business Intelligence to Travel Industry

Jul 23, 2015

While the tourist travel industry is booming, the business travel industry is always hot. From flying to meetings to relocating, there are many reasons for business travel. While airlines have upgraded some seats and meals for business travelers, many want upgraded technology. For the past two years, Amadeus Airline Solution has been adding to the business intelligence capability hoping that the major players will catch on. Thankfully, the bigwigs are starting to notice Amadeus’s efforts.

While technology is constantly evolving, the need for non-stop Wi-Fi is something that not only affects the business-minded traveler. Wi-Fi is much needed, as are comfortable settings. Business flyers know the best of the best, and usually have a preferred airline, and sometimes even a preferred airplane. One area that has not been conquered yet is a business-minded travel agency.

Travel agencies are usually geared toward vacations. The business industry deserves a good selection of business-minded travel agencies. If you are a merchant, or are looking to jump into the business world, this is a great opportunity. Of course, as with any business, there are things that you need before opening your doors (or website).

First off, you need to know about the industry. Do your research. Look into hotels, rental cars, and airplane tickets. Know their rules and regulations for cancellations. Also, be sure to have your own rules for cancellations, as without one you are liable for a chargeback. A chargeback can cost you upwards of 270% of the original charge, and this can damage even a profitable business. For this, you need to make sure that you have a travel agency merchant account and chargeback insurance. Both are available with EMB, as well as other processors. While chargeback insurance cannot overturn the entire chargeback fee, it can reduce it. This can help you, and help your customers. While the customer does not pay for the chargeback, the merchant typically raises their rates to cover the chargeback. This makes the customers suffer, and it can cause you to lose business.

While business technology is catching up with business travelers, there are still aspects of business travel that are lacking. Namely, a business-minded travel agency. This is a great way to enter into the business world, if you know what to do.

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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 on 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.