Running Tour and Travel Business : You are at High Risk

If you run a travel agency as tour operator, or hotel operator planning to the same then you must be excited by the opportunities in High Risk.

Before start receiving online funds, you must setup payment gateway for your merchant Services credit card. Your online payment gateway basically makes it possible for your customer’s payment to reach the merchant bank’s processor.

But if you are just starting, than getting a merchant account for business is the toughest job.

Good financial credibility also not getting merchant account for you. You may or may not be aware, but the real and only reason is that your business model falls under high risk.

And banks and merchant gateway providers think that they have credit risk involved with the industry you are in. This is not because the sales person does not want your business. This is because bank or their processor will not accept credit card high risk businesses because of the regulatory and / or charge-back risk. But remember, all is not lost. With some negotiations and risk management strategies all of this can be overcome.

REASONS WHY YOUR BUSINESS IS HIGH RISK

• Industry Language
• Normal Language
• High ticket size
• Expensive travel
• Charge-backs
• Cancellations issue
• Long Fulfillment time horizon
• Refund issues
• High Failure rates
• Competitive business

OVERCOMING HURDLES: WHAT YOU CAN DO TO GET MERCHANT ACCOUNT

Find consultants who specialize in the helping high risk merchants finding a merchant account.

We at merchant stronghold provide you the same.

If you have a good record of risk, fraud and charge-backs, you will be required to provide at least 6 months of prior financials to prove it.

The best side of this is that if you can provide financial statements of 3 years, you will have more leverage to negotiate a better deal.

Purchase a financial failure insurance plan to boost financial security.

These actions will be enough to get a merchant account for your tour and travel business. Just because you’ve been rejected for a merchant account before, doesn’t mean you will not get approval again.

It is necessary for you to choose the best merchant account provider to better your newly founded organization. You can reach us at +1 (888) 622-6875 or email to info@merchantstronghold.com  We will be glad to help you in getting a good merchant account for your business.