Most credit card processors that provide support to the travel industry are focused on e-commerce and offer virtual terminals where credit card payments can be made without needing additional equipment. Virtual terminals are great for travel and timeshare businesses that have both an online and offline presence.
Travel merchant accounts typically have a monthly credit card processing volume cap, only allowing merchants to process a specific number of credit card transactions per month. This could hamper your business growth so check the transaction limit before you sign up for a travel merchant account.
The rates are often higher on a travel merchant account and this needs to be considered in your budget.
The travel and tourism industry is big business. It doesn’t just cover traditional travel agents, there are many businesses that support the travel industry and benefit enormously from tourism around the world. These include:
- Online travel agencies
- Independent travel agents
- Online travel reservation websites
- Tour operators
- Accommodation Providers
- Transport and Transfer Providers
- Timeshare Resellers
- Cruise lines
- Excursion Companies
- Ticket seller for tourist attractions
The need for travel merchant accounts has grown tremendously in recent years and since tourism remains one of the fastest-growing global industries, the demand is only going to increase. To help your travel business thrive in the modern, internet-based world, you will need a travel merchant account from a trustworthy company like JJS Global.