According to research by Statista.com, revenue for the travel and tourism market is expected to hit $637.70 billion in 2022. And it is projected to hit $949.60 billion by the year 2026. Within the travel and tourism market, it is also expected that 74% of the total revenue will be produced by online sales by the year 2026. The travel...
In an interview conducted by The PayPers, Zack Powers, the Director of Payments Strategy at FareHarbor, was asked what the current climate of payments within the travel sector looked like in the aftermath of the pandemic. FareHarbor is a company that was founded in Hawaii back in 2013. It specializes in creating robust solutions that assist tour and activity operators...
Travel businesses take credit card payments online or via the phone. Whichever avenue you choose, you need a merchant account from a reliable payment processing company that will stand with you throughout. Travel-related businesses include but are not limited to the following; Independent travel agents Online travel reservation websites Travel agencies Timeshare Resellers Cruise lines Tour operators Transportation Charters Ticket...
14th Sept came and the travel sector still looked like it was still not ready for two-factor customer verification. A report released days before the September 14 cut-off date showed that most sector executives were worried about their preparedness to meet the terms of the new regulation. The findings report by Amadeus dabbed Preparing for Two-factor Authentication, released less than...
New-age tech is changing not just the way travel companies conduct business but also what time they do it. Years of research spent on studying conversion trends in the industry have helped travel companies reach travelers much faster. Communicating with travelers effectively even before set off, giving seamless guidance, and adopting a custom-made booking model has helped travel brands convince...
Doing business overseas is challenging. To thrive, a business needs more than just a basic understanding of a global market. An organization needs to research and explore legal liabilities, regulations, and unexpected costs to ensure cross-border payments occur seamlessly. Cross-border payments can no longer be just about moving funds from one account to another. Finding the most efficient way to...
Each and every day, you see, at least, one new eCommerce store pop up online. Are you running or planning to run an eCommerce business? Are you a travel merchant? How are you going to easily get approved for merchant services such as a travel merchant account? Keep on reading this article and you’ll know. Modern eCommerce Field This never-ending...
The travel industry is one of the world’s largest industries. Each year, the travel and tourism industry has a huge economic impact, including: accommodations, transportation, attractions and entertainment. However, despite considerable success, businesses do struggle to secure certain services that are critical to operating smoothly. Why? Traditional lenders consider the travel and tourism industry “too risky”. In general, the industry...
Travel industry trends are always changing in accord with new opportunities brought about by the modern world of technology. The world of travel and hospitality has entered a new era of growth and transformation. Global business travel spending accounted for $1.2 trillion in 2015, which is up 5% from 2014. Travel and Hospitality Industry One of the most important issues...
Credit card payment capability is inevitable for specialized transportation. Private airline service providers and jet charters choose credit card processing for most of their customers. This is a high ticket industry, with considerable risk exposure, so traditional merchant service providers usually refuse to open a merchant account for a startup airline or charter business. Fortunately, reputable payment processors like emerchantbroker.com...
