What’s the Next Step in the Travel Industry Evolution?

Jun 30, 2015

At a recent ITT conference, Matthew Taylor, chief executive of the Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA), expressed some concerns for the future of the travel industry. He believes that the industry will be unable to sustain its mega-growth unless it finds a new radical model.

The key, Taylor purports, is for travel companies to focus on sustainable growth via the environment of their clients and the possible relationships they can create abroad. This is a re-imagination of an entire travel sector that has traditionally focused on only connecting clients to desired destinations and setting up accommodations. This new approach moves travel agents from just a middleman of sorts to a full blown matchmaker.

Taylor notes that clients aren’t just looking for travel agents to find great destinations for them, they also want to have authentic experiences that will connect them to the countries and communities they visit. In order to provide this sort of experience, travel agents must reflect on the history of tourism and the emerging emphasis of human connection with travel.

Many travel agents have started to believe that they can compete with modern travel tools, as they are encouraged by a more sophisticated clientele that prefers the expertise and personal relationships found with travel agents. Over the past few years, the travel industry has experienced a rebirth as more and more people are rediscovering the advantages of using a travel agent over booking websites. Last year, the U.S. travel market reached $157 billion. Now may be the time for entrepreneurs to take a hard look at the reinvigorated travel market. Travel agents make all travel arrangements for their clients, including itineraries and bookings. The U.S. has seen a 11% increase in flights booked by travel agents in the last five years according to Airlines Reporting Corp.

Currently, travel industries must find a way to go beyond being bridges. They must learn how to find and promote experiences that have the ability to really connect their clients to life enriching experiences that connect them to humans across the globe. eMerchantBroker.com will give your business a major boost with our payment processing services. Your travel merchant account will be completely CPI compliant. Contact us today to start your account.

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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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