How do you know if your travel business has been categorized as a high-risk merchant?
A merchant account is essential for travel businesses. However, if you run a travel agency, booking site, or lodging company, you know how difficult it can be to get approved for a travel agency merchant account.
That's where we come in. We'll get a high-risk merchant account set up for your company so you can start accepting credit card payments. These specialized payment processing accounts are designed for merchants classified in high-risk categories, providing the necessary solutions for online credit card processing in the travel industry
Travel businesses face unique challenges in the payment processing world. As a high-risk industry, many traditional banks and payment processors are hesitant to work with travel merchants. At PayKings, we specialize in providing merchant accounts tailored to the specific needs of the travel industry, ensuring you can process payments securely and efficiently.
Follow these simple steps to set up your travel merchant account
Start your journey with a simple online application process for your travel business.
Provide the required documents to support your travel merchant account application.
Our expert team will guide you through the underwriting process for travel businesses.
Begin accepting payments for your travel services and watch your business thrive.
PayKings has years of experience working with merchants in travel and other high-risk industries. Along the way, we've partnered with over 20 financial institutions. When you choose us for payment processing and merchant accounts, we can find the perfect financial partner for you.
If you run a business in the travel industry, let us help you set up high-risk merchant accounts and other merchant services.
At PayKings, we specialize in providing merchant accounts tailored to the specific needs of the travel industry, ensuring you can process payments securely and efficiently.
Merchants in the travel industry face potential issues that cause payment processors and merchant services providers to label them as high-risk. Travel agencies, cruise companies, timeshare merchants, tour operators, and others in the travel industry accept a majority of payments well in advance of the delivery of the service. Most transactions are also made online or over the phone. These two factors lead to issues that payment processors are wary of, including:
High Risk of Fraud: Because of the high volume of card not present transactions, travel merchants are at a higher risk of fraud than other industries.
High Chargeback Risk: Most travel services have a prolonged delivery time. Tour operators and travel agencies sell reservations for services that often won't be delivered for two to three months. That leaves a long time for things to go wrong for the purchaser, or for them to change their mind, causing them to cancel or request a chargeback.
High-Ticket Sales: On top of prolonged delivery times, travel merchants also sell expensive services, such as prolonged hotel stays or vacation packages. This means that if they request a refund or chargeback, it has a much greater impact on the travel merchant. It's a big reason why many travel merchants fail, and why a merchant services provider considers them high-risk.
Because of the reasons above, if you are looking for travel credit card processing, you'll need to obtain a high-risk merchant account.
Being labeled as a high-risk merchant necessitates partnering with a payment processor experienced in high-risk accounts. You'll need a travel merchant services provider who can set you up with credit card processing services, a high-risk merchant account, and a payment gateway. Avoid disruptions by choosing PayKings, a leader in high-risk merchant account solutions for the travel industry.
PayKings is the best travel merchant account provider for your business. We have years of experience working with merchants in the travel industry and have partnered with over 20 financial institutions. When you choose us for payment processing and merchant accounts, we can find the perfect financial partner for you.
Our travel merchant accounts are designed to provide smooth, reliable payment processing for your business. With our tailored solutions, you can focus on growing your travel platform while we handle the complexities of payment processing.
Low or high, your risk level won't stop you from getting a fast and easy approval. We accept and provide for a number of industries.
