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Until recent years, it has been difficult for online Travel vendors to sign up for Merchant Accounts with reliable and experienced payment processing companies. Although the travel industry does not deal in goods/services that would be traditionally considered 'high-risk', the average expense per 'purchase' of travel goods is well above the average in many other industries. Furthermore, when transactions are processed from this industry they fall under a 'high-risk processing' category, as the extended time between the 'purchase' of the service and its commencement can lead to financial issues, such as charge backs or dishonored services. Another factor which has placed the online travel industry into the 'high risk merchant' category is the intertwined nature of the services provided, creating issues with pre-paid services not coming to fruition.

As this industry has strengthened, a range of high risk payment processors have become available. Unfortunately, due to their unknown and inexperienced nature, many of these companies cannot provide the services, especially in terms of fraud control, that are imperative to the smooth running of any online travel business. The lack of investigation in to fraud and transaction issues can cause irretrievable damage to an online business when dealing with expensive sales of this nature.

Another factor which many high risk online processing companies and travel vendors do not consider is the need for impeccable customer service in this industry. Due to the high-involvement of the customer in purchasing a travel or holiday pack, and the expensive nature of the products, customers need to be encouraged and helped through each step of their decision making and purchasing processes. Controlling customer payment enquiries and tracking the process of transactions is not a service that vendors themselves can always supply, and a large number of high-risk processors also fail to offer these facilities. It is therefore incredibly difficult as a travel vendor to create a reliable relationship with a reputable payment processing company who can provide the level of services needed in order to ensure the smooth running of their online business.

Issues faced by 'high risk' travel merchants

  • The expense of products and the time between payment and commencement leads to a higher risk of refunds and charge backs.
  • Due to the high-risk nature of this industry, domestic payment processors try to distance themselves from providing their services.
  • The propensity for fraud is high in this industry, regularly leading to a loss of sales that can strongly affect the revenue of travel companies.
  • Exceptional customer support is required in order to reinforce sales, as the purchasing process for consumers is one of high emotional involvement due to the nature and price of the products.
  • Due to the gap between purchase and commencement, customer support is required to help customers with matters of transaction monitoring and purchasing enquiries.
  • Many high risk merchant account processors have a range of black-listed countries and will not process these transactions, significantly reducing the number of merchant accounts available to the market.

Tips when opening a Travel Merchant Account

  • 24/7 Customer supports that provides services for both customers and merchants.
  • 24/7 Security services with constant human monitoring of all transaction processing (not just software checks)
  • A payment processor who has experience in dealing with Travel Merchant Accounts and extensive knowledge of the care and service required by the Travel industry
  • Discrete description name functions for customer statement discretion.
  • Advanced investigations services which are goal and process driven to reduce charge backs and refunds.
  • Non-judgmental or discriminatory sign up processes.
  • No previous transaction history requirements for the establishment of new Merchant accounts.
  • No black listing on specific countries, therefore opening up a global market.
  • Comprehensive reporting
  • Reliable payment schedules on at least a weekly basis
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