Category: Travel Agency Agents
May 15th, 2017 by Elma Jane
Process Your Travel Agency Payments For Less. Get 100% Funding The Next Day!
Call now 888-996-2273 or sign up here NationalTransaction.com
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: merchant, payments, travel, travel agency
March 20th, 2017 by Elma Jane
Process Your Travel Agency Payments For Less. Get 100% Funding The Next Day!
Call now 888-996-2273 or Sign Up now!
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: payments, travel agency
March 10th, 2017 by Elma Jane
Qualified vs Non-Qualified credit card rates
The most common forms of rate structures for credit card rates are:
2-Tiered: Qualified and Non-Qualified
3-Tiered: Qualified, Mid-qualified, or Non-qualified
Each and every transaction you accept is classified into one of the above and is the basis for the credit card rate you see on your statement.
As a general rule, qualified transactions are going to be “standard” cards; without any consumer or corporate rewards associated with them. Accepted in the “standard” method expressed in your merchant processing agreement, this is where Card-Not-Present (CNP) setup comes into play.
Mid and Non-Qualified transactions include:
Rewards cards, keyed-in payments (for swipe accounts), AVS (Address Verification Service) does not match or is not performed, not all required fields are entered, or the payment was entered in a late batch. Ex. the payment was sent to the processor 48 hours or more past the time of the authorization.
Posted in Best Practices for Merchants, Travel Agency Agents
March 1st, 2017 by Elma Jane
ELECTRONIC PAYMENTS
When it comes to electronic payments, certain types of businesses are considered high risk.
Most merchants do not realize that electronic payment processors carry a financial risk on merchant accounts, and normally fund merchants prior to receiving payment from the client’s bank.
Essentially, a merchant account is an unsecured loan.
Different factors used to determine when a business is a high risk are:
- Types of products
- Services they sell how
- How they sell them
Online transactions are considered high risk because there are increased risks of fraud.
A key factor used to determine the risk of a business is chargebacks.
Chargebacks include customer refunds and fraudulent transactions.
Payment providers assess this risk to determine the percentage of chargebacks your business is likely to experience.
Businesses that are considered high risk where they take advanced payments:
- Travel agencies
- Ticketing services
Electronic payments provider is necessary if you want to accept debit and credit card transactions.
For high-risk electronic payments please feel free to call us at 888-996-2273.
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: bank, chargebacks, credit card, debit, electronic payments, fraud, loan, merchant accounts, merchants, online, payment processors, transactions, travel agencies
February 21st, 2017 by Elma Jane
The Travel Payment Expert
No Setup or Cancellation Fees
100% Next day Funding
Lowest price Guarantee
24/7 US Based Support
#1 Preferred Payment Processor among Travel Associations
NTC ePay, our exclusive electronic invoicing platform. (Email customers invoices and get paid even faster, eliminating paperwork and saving time).
For Electronic Payment Setup or FREE Rate review, call us now 888-996-2273
or visit www.nationaltransaction.com/travel/ and use our contact form.
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: Electronic invoicing, electronic payment, payment, processor, travel
January 19th, 2017 by Elma Jane
Card-Present vs Card-Not-Present – It’s important for a merchant to know what types of credit card payments their business will be taking.
If you rely on mailed, over-the-phone, or online payments a Card-Not-Present merchant account is what you need.
With this type of account, you don’t need the physical card. You are set up to accept credit cards where card information is being keyed into a credit card terminal or online.
A card-not-present merchant accounts base rate is higher than if you signed up for a Card-Present or swipe merchant account.
Why are card-not-present rates higher? There is less risk associated with a business swiping a credit card than keying it in. Why? When a card is swiped, a person is present; where the merchant can check ID and signature. When a person is not present, it’s open for consumer fraud.
However, when you’re setting up a Card-Not-Present merchant account, these factors are taken into consideration during the underwriting process, which leads to a lower base rate for keyed-in payments
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: card present, card-not-present, credit card, merchant, online, payments, terminal
January 18th, 2017 by Elma Jane
The cost of accepting card payments is driven primarily by the interchange. When you settle your transactions each day; payment network routes them to the respective card associations (Visa, MasterCard, Discover, and UnionPay) and debit networks through the interchange. Card associations and debit networks establish the rules and manage the interchange of all transactions; for which they charge fees to offset their costs. Interchange fees are paid at the time the transaction is exchanged.
Although interchange fees are applied to all credit card processors equally, they fluctuate in amount, based on a variety of factors. Card associations quote the lowest rate for a transaction, assuming that a number of requirements (which vary according to the card type, the type of business accepting the card payment, and the transaction channel) are met. Transactions that meet all of the requirements for your industry are charged the “qualified rate.” If one or more of these requirements are not met, the transaction is categorized at a more expensive interchange level, known as a Mid-Qualified Non-Qualified the most common “downgrades”.
Some common causes of downgrades include manually entering or requesting voice authorization for a significant number of transactions rather than use a POS device, or you routinely settle
transactions more than 24 hours after they are authorized.
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: card associations, card payments, debit networks, interchange, payment network, transactions
January 9th, 2017 by Elma Jane
The Travel industry payment experts! Why NTC?
NTC is the preferred payment processor for over 3,000 Travel Related Agencies.
High application approval rates while striving to eliminate holds & reserves is a big part of our Travel Merchant’s success.
Guaranteed Lowest Rates
Next Day Deposits
We Integrate with Trams & Sabre Red
Integration with a wide range of Booking Engines
Live US Based Concierge Service within three rings
Preferred by Many Associations including ASTA
NTC ePay Electronic Invoicing
Highest Approval Rating
Accept Payment from Anywhere in the World
Online Reporting and Processing Tools Included
Get the most from your Payment Processing Call Now 888-472-7112
Not all Travel Merchant Accounts Are The Same!
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: merchant, online, payment, payment processing, payment processor, travel, travel industry, Travel Merchant
December 27th, 2016 by Admin
Merchant aggregator is an entity that can run many transactions through a single merchant account, an opposite to the traditional merchant account since you’re the sole owner.
Preferred for a smaller business because its not intended as a long term scalable solution to accepting payments.
For businesses that want to expand their processing needs, traditional merchant account will outgrow an aggregator, since the goal is for a business to grow, but it will always come to what’s best for individual business.
While you have the pros of quick application process and instant approval there are a lot of cons to check before getting an aggregator account.
CONS of an aggregator account:
CUSTOMER SERVICE – aggregators are hard to get hold of.
FEES – fixed fees .
FREQUENT HOLDS and DELAY OF FUNDS – aggregators hold funds 24-48 hours before depositing, while longer holds occur 30 days. (A client of ours who signed up with an aggregator came back in tears and wants to open her merchant account with us again because her funds was held with the merchant aggregator. She then promised will not leave and stay for life with NTC).
LOWER LIMITS – processing limits lower, annual limit of $100k.
PROS of a Traditional Account:
CUSTOMER SERVICE – 24/7 technical support.
FUNDS – next day funding, no frequent account holds.
FEES – tailored to your business needs.
LIMITS – varies by financial strength and business
Setting up a Merchant Account? Call us now! 888-996-2273 or go to www.nationaltransaction.com
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: customer, fees, funds, merchant, merchant account, payments, transactions
December 22nd, 2016 by Elma Jane
What is a Merchant Account?
If you want to remain competitive virtually, every business needs access to a merchant account to accept card payments from their customers. “Merchant” is another word for a seller or business owner. Merchant accounts are not depository accounts like checking and savings accounts; they are considered a line of credit. This allows a merchant to receive funding for the credit transaction. Therefore, when a customer pays with a credit card; a bank is extending credit to that customer and also making the payment on his/her behalf. As for payment providers or processors; they pay merchants before the banks collect from customers and are therefore extending credit to the merchant, that’s why Merchant account is considered as a LOAN.
Merchant account helps facilitate the complex interactions that need to occur between your business and your customer, the credit card networks (Amex, Discover, MasterCard, Visa) and your payment provider every time you receive a card payment. It helps to ensure that you receive funding as quickly as possible, that the banks are protected from losses, and that buyers are protected from scams. Everyone is held accountable based on the rules of the credit card processing agreement with a merchant account.
There’s cost associated in taking credit cards, but it’s much easier and more secure to open a merchant account than it is to keep a book of credit accounts for all of your customers!
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: amex, card, credit, customers, Discover, loan, MasterCard, merchant account, payment provider, payments, transaction, visa
