Top Travel Payment Processing Service

Ever since payments have transitioned online, it has become essential for travel websites to establish a reliable payment gateway. Businesses in the travel industry are regarded as high risk as their clients have many reasons to dispute payments such as cancelled flights, pandemics, and schedule changes. So the issue here is that only some payment processing services are suitable for the specific needs of travel agencies. But do not worry, we've got you covered.

In this article, we offer you to familiarise yourself with the top travel payment solutions that understand these challenges and will assist you in seamless online payment processing. Check the list of their advantages, disadvantages, and costs to make a considered decision.

How Do Travel Payment Solutions Work

Travel businesses rely on payment gateways to facilitate the acceptance of online payments. A payment gateway is a service that acts as an intermediary to authorise digital transactions and transmit payment information between retailers, financial institutions, and other processing parties using a standardised protocol. It follows each purchase from beginning to end, shielding sensitive credit/debit card information from being stolen.

Here's how the travel payment solutions work:

• A customer chooses the preferred service on a travel website and uses a checkout page to choose their payment option and submit credit/debit card payment details.

• The gateway receives and encrypts this data and submits a request for transaction authorisation to the acquiring bank.

• The bank initiates communication with the relevant card network (Visa, Mastercard, etc.) to process the transaction.

• The card network verifies the customer's identity.

• The card issuer approves/declines the transaction and then notifies the acquiring bank. In case of transaction approval, funds are transferred to the merchant's account.

What Businesses Are Considered Travel & Tourism?

Travel payment solutions are a necessity for both domestic and international tour operators, enabling them to securely and promptly accept online payments from customers from any region and at any time. But which business sectors are encompassed by the broad term “travel & tourism industry”? The following are the main industries and services that necessitate a high-risk travel merchant account:

• Airlines

• Cruise operators

• Charters

• Hospitality businesses

• Ticket Sellers

• Travel clubs and agencies

• Hotels and Holiday Rentals

• Tour Operators

• Ecommerce travel sites

Each of the aforementioned travel merchants greatly benefits from travel payment processing solutions and relies on them for efficient and continuous business operations. Fortunately, the travel sector is supported by a vast network of merchant-acquiring banks that are prepared to accept electronic and card payments.

Features Of A Good Payment Gateway For Travel Website

Whether you're in the rental, hotel booking, or ticket-selling businesses, incorporating a powerful travel payment processing platform is crucial for growing your client base and keeping up with the competition. Give your customers the peace of mind they need to go on their holiday or business trip knowing that their payments will be processed without a hitch. That is why below we break down the major criteria that you should consider when choosing the best payment gateway for your travel business.

Reasonable And Transparent Rates

In the case of travel businesses, fees account for the majority of the costs. Payment processors have different pricing models, and you should be aware of them before selecting a payment gateway. Mainly, payment processors charge transaction fees. Nevertheless, some processors may require you to pay monthly fees. Keep in mind that there are also chargeback cancellation, and currency conversion fees. Conduct extensive research on the pricing policies of various providers and select the one that best suits your needs.

Multi-Currency Processing 

With the integrated gateway on your travel site, customers should be able to quickly and easily make hotel reservations and purchase plane/train/bus tickets using their preferred payment method and currency. Since the travel industry operates on a worldwide scale, it is important to have travel payment solutions that enable you to take payments in several currencies without incurring excessive foreign exchange expenses.

Prompt Account Setup 

The need to secure your own account can cause a significant delay in the implementation of a payment gateway. That is why you should consider choosing a payment processing system that will assist you in setting up your merchant account. Moreover, you should check the time required for account setup.

Availability In Your Target Region

Some travel agent payment systems only accept payments made with local online payment methods. Payment gateway availability in your target region is essential, but if your travel website accepts payments only from domestic banks, it may lead to the exclusion of a large number of potential customers.

Naturally, you accept only local customers in the early stages of your travel business development. However, if you plan on growing, you need to pay attention to payment gateways with global payment processing.

Matching Your Business Needs

Opt for an online payment gateway that provides a variety of features and services based on your business needs. Let’s assume you want to accept customers from all over the world. In that case, the payment gateway should offer a global solution and accept multiple international payment methods.

Payment gateways also have an impact on the efficiency of a website. Check to see if the payment gateway supports customer reminders via texts and emails, chargeback management, and electronic invoicing.

Best Travel Payment Solutions Of 2023

Are you ready to select one of the best payment gateways for your travel website? We chose the payment solutions listed below because of their competitive rates, quick payment approval time, and ability to process online transactions across the majority of industry segments. Take a close look at each option and decide which one you would like to integrate into your website.

Exactly®

When it comes to streamlined payment processing for travel websites, Exactly® is a top choice. This all-in-onetravel payment processing system offers you a prompt merchant account setup and a payment gateway. The reporting capabilities and intuitive dashboard give you access to a wealth of valuable data, including APRU, customer/transaction count, conversions, and transaction rejections. As an owner of a travel website, you may go with either hosted pages or API integration.

Exactly® does not have a pre-established fee structure since it does not focus on travel business size. Instead, it provides a competitive rate that is based on the individual requirements of each client.

Pros:

• Payment gateway customisation

• Sufficient data protection

• Real-time reports

• Payment links

• Chargeback and dispute settlement mechanisms

Cons:

• No access to free trial

Clover

Clover (previously Fiserv) has a wide variety of payment options for both in-person and online transactions, making it the go-to choice for any developing travel agency. By using Clover as a system for payment processing for travel industry, you can accept debit/credit card payments online, schedule recurring payments, and send electronic invoices. Moreover, you are able to accept payments with or without WiFi and process offline sales when you reconnect. What makes Clover even more appealing, is that you can check how Clover works for your travel business by registering for a free personalised demo.

Pros:

• Fraud protection

• 24/7 expert support

• POS system

• Contactless NFC payments

• Virtual Terminal

Cons:

• Some apps can be expensive

Worldpay

No matter what niche your travel company specialises in, Worldpay tends to provide you with a convenient and customised payment gateway. It accepts different types of payments made via computers and mobile devices. Because of its massive market presence, Worldpay offers a diverse range of processing options, including POS systems, mobile and electronic wallets, EMV terminals, extensive security features, and even gift cards.

Pros:

• Virtual Terminal

• Multiple payment options for small and medium travel businesses

• No charged fees for merchant account setup

• Fast payouts

Cons:

• High transaction fees for pay-as-you-go option

• Customer support is oriented on software developers

CashFlows

CashFlows is a UK payment gateway for travel websites which is easy to use, quick to set up, and, most importantly, offers low transaction fees. It will help you facilitate online payment processing with downloadable real-time transaction reports, robust digital security and a wide selection of payment types. CashFlows offers you the possibility to build a custom dashboard and track your sales. CashFlows rates are kept under wraps due to the fact that their fees vary greatly between clients, so it all depends on what you require from this payment processing system.

Pros:

• 24/7 client support

• One-click payments

• PCI compliance

• Competitive pricing

Cons:

• Doesn't support PayPal purchases

• Frequently suspends payments for suspicious activities

Retail Merchant Services

RMS offers numerous payment processing services to a variety of sectors in the travel industry. As a merchant, you can use a large number of tools to customise the Checkout, handle manual and automatic payouts, and manage all day-to-day operations from a single dashboard. To be able to track KPIs and analyze competition, you can obtain accurate reports and forecasts. You may easily empower your business, as RMS provides merchant account services along with POS and virtual terminals.

Pros:

• Fully customised integration

• Instant reporting tools

• Simple setup

• Next Day settlement service

Cons:

• Slow customer support

Instabill

This travel payment solution provides bespoke merchant service packages designed to accept payments for airline tickets and hotel reservations. Instabill’s risk management solutions work to reduce the chargebacks occurrence. Fraud protection tools safeguard your travel business and customers from fraudulent transactions. Instabill facilitates online payment acceptance by supporting multiple currencies and payment methods. Additionally, this travel payment solution provides 24/7 customer support that targets and resolves errors during the payment process. The phone support team is available at all hours of the day and night, allowing customers to get prompt resolution at any time.

Pros:

• Payment gateway flexibility

• No account setup fees

• Customer-focused support

• Different types of offered merchant accounts

Cons:

• Pricing has not been made public

Travel Payment Processing Made Easy With Exactly®

Would you like to simplify the way you manage your travel business and provide your customers with unforgettable user-experience? Exactly® is at your service. We offer you a trustworthy payment gateway and a travel merchant account, as well as useful features such as one-click and recurring payments, address verification service and cut chargebacks. You may easily identify and filter your clients based on their region, IP address, and debit/credit card information. Do not hesitate to fill in our application form and start growing your travel business with Exactly®.

Final Thoughts

Customers will be more satisfied with your business if you cooperate with reliable, high-quality travel payment solutions. They enable smooth online payment processing, which in turn leads to your customer base growth. Each of the payment gateways listed in this article offers PCI compliance, practical customer support and data protection tools. To choose an option that is a true fit for your travel business, make sure to determine the exact needs of your company and consider your weaknesses and strengths.

Frequently Asked Questions