Travel Merchant Account for Travel Business and Time Shares

Sep 20, 2016

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 look for a travel merchant account – which can be found if you do the right research.

A travel merchant account, such as the one offered by EMB, is specifically targeted to those in the travel industry. These merchant accounts know how to deal with the challenges that can engulf a travel agency. These challenges come from the high risk labeling, and the overall nature of the business. There are things that you need to look for in a merchant account provider – all which are not available with all who claim to understand the travel industry.

You need to look for industry-standard processing fees. This is something that should be available to all high risk merchants, but it is not. Few high risk merchant account providers do this, and it is important for you to search for it. A fast approval is also something that is great to look for, as it helps you get your business moving faster. Waiting weeks for approval is terrible, but many merchant account providers do this to their potential clients.

Perhaps the biggest thing you should look for in a travel merchant account provider is their ability to understand chargebacks. We all hate chargebacks, but all high risk merchants know that they are simply just part of the business world. Some merchant account providers who are not familiar with chargebacks can panic when one happens, and they can end up closing an account without really any reason. Yes, a chargeback does cost time and money, but a knowledgeable merchant account provider knows that this is not a reason to close an account.

Finding a travel merchant account can be hard if you do not know where to look. Be sure to do your research, as this is one of the most important choices you will ever make for your company.

Let us help you get a high risk merchant account today!

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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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