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...
The recent years in the US airline industry have witnessed improved balance sheets, increased valuations. The industry has generated 13 consecutive quarters of profitability with operating margins near or above 10%. Airline industry demand is expected to grow even more in 2017. In January 2017, demand for the major 7 players increased by an average of 4.9% year-over-year (YoY). In...
Women play a dominant role among travel consumers and sellers, but they don’t occupy the highest decision-making positions in the industry. In 2014, women made 80% of travel decisions, which equals to $125 billion of the travel industry’s purchasing power. Women are becoming more and more confident and empowered to travel alone, as the recent statistics show. This trend has...
The credit card processing industry currently classifies the travel business among the dreaded “high-risk” class of economic ventures. This due to the fact that most travel agencies finalize transactions prior to the day of travel, which means the customers pay in advance. The early payment leaves the merchants open to chargebacks due to unforeseen changes in travel plans as well...
Merchant accounts can be easy to find for many merchants, but for those in the travel industry it can seem like an impossible task. Travel agencies, booking agencies, and websites promoting various issues can be seen as “high risk” by the processing industry, leaving you in a jam. Instead of just Googling for a random merchant account, you need to...
