The Benefits of the National Travel and Tourism Week

Jun 11, 2015

It was recently announced by the U.S. Travel Association that next year’s Travel and Tourism Week is scheduled to take place May 1-7, 2016. This nationwide annual salute to travel and tourism was established by a congressional resolution in 1983. The events that take place during this week serve to champion the power of the industry.

In 2014, it was reported that the industry generated total sales of $1.5 trillion. This money then supported 7.8 million U.S. jobs. The interest in how many people come to the U.S. stems from the U.S. Department of Commerce’s wish to boost U.S. business export.People come to American to explore its cities and visit the many attractions. In the process, they have a chance to see the renowned diversity of our people and geography – the great “melting pot”. When these visitors return home, the hope is that they have a passion for the USA brand and seek out American goods in their homeland; this obviously provides amazing opportunities for eager U.S. companies on the international market.

The National Travel and Tourism Week typically marks the event in several creative ways. They stage local rallies, conduct media outreach and secure proclamations and resolutions from local governments. The theme for 2015, according to the U.S. Travel Association, is to “reflect the wide-ranging and robust ways that the U.S. travel industry contributes to the fabric of America”.

While this week is a great opportunity for travel agencies, it can prove to be difficult for those wishing to start a business in this industry. Why? Travel agencies are considered to be high-risk merchants in the eyes of credit card processors. Data has shown that consumers are more likely to dispute and charge back travel agency transactions than others.

As a result, many travel agencies have turned to travel merchant accounts. These providers specialize in offering services to merchants that are otherwise considered high risk. A travel merchant account can offer a business the safe payment processing they need without the endless documentation and credit requirements. In addition, the time between application submission and receiving access is considerably faster than going with a traditional lender – in some cases, as quickly as 72 hours.

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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.

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