If you're a travel agency owner or manager, you know all too well how important it is to have a good merchant account provider. Merchant accounts are the backbone of modern e-commerce, allowing businesses to accept payments online and over the phone through debit and credit cards. But while they seem simple enough at first glance, there's more to them than meets the eye—and that's why it's so important for merchants like you to choose their partners carefully.
Know your options.
Knowing your options is a good place to start. There are two main types of merchant account providers: processors and aggregators. Processors are more hands-on with their customers, while aggregators tend to be more remote and automated. It's important that you know what kind of experience you're looking for in a merchant account provider so that you can choose the right one for your business model.
Get to know your potential partners.
When you're looking for a travel agency merchant account provider, it's important to get to know their reputation and track record. You can do this by asking for references from other travel agencies that have used them in the past.
You should also ask about their payment processing capabilities: how many different types of cards do they accept? How many processors do they use? Do they offer mobile applications or other digital tools that will help your business stay competitive?
Finally, find out more about customer service at each potential partner--what kind of support does it provide in case something goes wrong with your account or equipment; how quickly can problems be fixed; etc.?
Tailor your offer to meet their needs and yours.
When you're ready to make your offer, be sure to consider the following:
- Understand their needs. Before presenting your proposal, take the time to understand what's important for this merchant account provider and how they operate. What is their average customer acquisition cost? Do they prefer working with startups or established businesses? Is there anything else that might affect the way they view your business' potential? Understanding these things will help ensure that you tailor your offer appropriately.
- Include all relevant details in the proposal itself. The more information you can provide up front about how exactly you plan on implementing your company's new payment system, including timelines and plans for implementation (and even budget), the better off all parties involved will be--and indeed, most merchant account providers will want as much information as possible before making any decisions regarding whether or not they should work with someone like yourself!
Set up a dedicated team to handle payments and merchant account management.
- Set up a dedicated team to handle payments and merchant account management.
- Why is this important? A dedicated team will not only help you get your business off the ground, but it can also make sure that you stay on track with all of your payments. This will prevent any problems from arising in the future, which could lead to lost revenue or customers leaving because they're unhappy with the service they received.
- Who should be on this team? You need someone who has experience in finance, accounting and technology (if possible). They should have knowledge about credit card processing services as well as other payment methods such as e-commerce platforms or POS systems (point-of-sale). Your payment processor may also have experts who can assist with setting up those systems if necessary--but having someone internally who knows how everything works is invaluable when it comes time for troubleshooting issues later down the road!
Outline expectations upfront, including how quickly funds should be deposited in your bank account, who will manage the relationship and what to expect in terms of payment volume growth.
Before you start looking for a travel agency merchant account, it's important to define what your goals are.
If you're like most people, your goal is probably something along the lines of "I want to get my business off the ground." Now that sounds good on paper but it doesn't really tell us anything about where we should be going or how fast we need to go there. When defining your goal(s), I recommend being as specific as possible and setting expectations upfront so that both parties know what they're getting into from day one.
For example: If I were opening an online gym (which I am!), one thing that might help me achieve my lofty goals would be acquiring new clients through social media advertising campaigns targeted at millennials who live in urban areas near gyms (like mine) and love working out but hate having to drive across town every day just so they can go lift weights together with their friends after work/school hours end at 5pm sharp due to traffic concerns etcetera ad nauseum...
An experienced travel agency merchant account provider should be able to help you with these important aspects of your business.
When you're running a travel agency, it's important to make sure that everything is done correctly. This includes getting the right merchant account for your business. A merchant account allows you to accept credit cards as payment for goods and services, so it's essential that you have one if you want to be able to accept payments from customers.
A good way to find out whether or not an agency has what it takes is by asking them these questions:
Be sure you're aware of any fees that may apply to transactions made through the travel agency merchant account as well as any cost-cutting features like free terminal devices or low rates on mobile processing.
The fees associated with your merchant account are probably the most important thing to consider. Be sure you're aware of any fees that may apply to transactions made through the travel agency merchant account as well as any cost-cutting features like free terminal devices or low rates on mobile processing.
When choosing a processor, make sure you understand all the terms and conditions of your contract before signing it. If there are clauses within your contract that seem unfair or unfavorable, don't hesitate to negotiate with them! It's always better to have an idea of what's going on beforehand rather than finding out later when it's too late (or worse yet - after something bad has happened).
You want to choose a travel agency merchant account provider that's right for you, not just one that promises low rates or cool perks like free terminals but doesn't deliver on its promises after it has signed you up for an account
Your goal is to find the best travel agency merchant account provider that's right for you. This is not just one that promises low rates or cool perks like free terminals but doesn't deliver on its promises after it has signed you up for an account.
You need to make sure they deliver on their promises before making any commitment with them, so do your homework and ask around about what others think of this particular provider in terms of customer service, reliability and trustworthiness.
Conclusion
The bottom line is that if you want to make sure your business is set up with the best possible travel agency merchant account, it's important to do your research. We hope this guide has helped give you some insight into what makes a good provider and how they can help your company grow. If you still have questions about finding an ideal partner for your business needs, please contact us! Our team can help answer any questions about choosing the right partner for your needs."
