A
merchant account is a specific kind of bank account intended to hold
funds taken from credit and debit card sales through online payment
interfaces on travel
software
and POS. When a customer pays for booking travel products using
credit or debit card, money from his account is immediately
transferred to the travel agent’s merchant account. From there,
money will be transferred out to a normal business bank account
through a standard protocol.
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| Online Travel Software |
Taking
payment individually from those who book flights, hotel rooms, etc,
through you travel agency might have become a little difficult
because of increased transactions on a day to day basis. Often,
smaller travel agents don’t get the merchant accounts directly
through the banks so easily. But online
travel software
definitely needs payment gateways to survive. That’s why third
party payment gateways like PayPal, 2CO etc are used worldwide.
With
the merchant account, you can entertain all the widely recognized
cards and never send back a customer telling her credit card is not
accepted by you. Since it works in real-time, merchant accounts
reduce deposit times for your company and avoid the prospect of
inadequate funds landing you and your customer in uneasy situations.
Most of the travel
portal development
companies suggest their clients to use the direct merchant account
for the same reason.
Your
new customers should be made your regular customers. Merchant account
will help you to make them come back to you to buy travel products in
future. This can be done by asking your provider to customize a
loyalty program for you. They can get some discounts at the places
they spend their vacations or when they next book travel products
from you.
A
valuable gift from merchant account is online payments. With this
visitors to your site can click on the pay button in your website
after choosing the flights and hotels, and pay by just filling in
their payment data on the secure online form. Immediate validation of
payments will occur. You’ll get the money within 24 hours. As a
business person this is a great boon to you.
Regarding
Author:
Author
is a senior business analyst and an expert in travel
portal development
and marketing strategy implementation.
You’ve got some interesting points in this article. I would have never considered any of these if I didn’t come across this. Thanks!. How to become a Merchant Service Provider
ReplyDeleteThanks for sharing this blog.
ReplyDeleteTravel Merchant Accounts