5 Ways to Maximize Your Travel Agency Merchant Account

Travel agents are a vital part of the travel industry. Whether you're looking for flights, hotels, or cruises, a travel agency can likely provide the best rates and services. But as a travel agent, there's more to your job than just booking people on trips! You also have to handle all of their payments at checkout. If you aren't familiar with how payment processing works, this can be difficult and frustrating—especially when it comes time for your next review from your merchant service provider (MSP). Fortunately for all those hardworking agents out there: we're here to help! We've put together some tips on how you can optimize your travel agency merchant account to maximize sales performance and get better reviews from the MSPs who support us so well.

Know Your Sales Tax Rate

You may have heard that you should know your sales tax rate, but what does that mean?

Your sales tax rate is the amount of tax you will charge on each transaction. It's typically expressed as a percentage of the total sale price, and it varies by state (and sometimes even by city). For example, if your business is located in New York City and has annual gross receipts of $100 million or more then there is no general state-level sales tax; however, if your business is located outside this area then there will be an additional 4% NYS local option tax added on top of any other applicable state or local taxes.

To use this information effectively we recommend setting up multiple merchant accounts with different banks so that you can see how each bank handles their rates differently--and then look for one with low rates!

• Keep your account updated
• Keep your account up to date.
• Update your account information regularly.
• Use the latest software and security features.

Update your website information, including business address and phone number as well as email address for both you and any employees who manage transactions on behalf of the business (for example, if you have an office manager).

Avoid high-risk transactions.

If you're a travel agent and want to know how to maximize your merchant account, then it's important to understand what transactions are considered high-risk. Transactions that are likely to be fraudulent or declined include:

• Purchases made by cash-only customers
• Purchases made by customers with no ID (unless they have an approved digital ID)
• Purchases made by customers who don't match the billing address on file with their credit card company

If you identify any of these as occurring frequently in your business, it may be time for some changes for them not only to avoid hurting your business but also to help grow it!

Understand payment methods.

When you're ready to start accepting payments, it's important to know the different payment methods. This will help you maximize your merchant account and make sure that your customers are satisfied.

Credit cards: Credit card processing is one of the most popular ways for people to pay for goods and services online. If you want to process credit cards through your travel agency merchant account, there are two main options:

Debit card processing: Deceptively similar in name but quite different in function from credit cards, debit cards allow consumers who have set up an advance payment agreement with their banks (usually through direct deposit) to access their money immediately without having any funds deducted from their bank account until after they've made their purchase or completed their service order.

Use the right card readers.

The first step is to make sure you have a card reader that can accept all major credit cards. This will help ensure that your customers don't have any problems making purchases and also allows you to maximize the number of transactions per day.

Next, it's important to consider whether or not the card reader will be able to read chip-and-pin cards as well as swipe ones. Many travelers prefer using their chip-enabled debit cards when traveling abroad because they offer better protection against fraud than traditional magnetic stripe cards do (just remember: if a customer pays with an unencrypted card, it may not work at all!).

Finally, look for a multi-channel system that can accept both EMV (chip) and Magnetic Stripe Cards from both sides at once--this way, if someone has forgotten his or her wallet but still wants something from your shop/restaurant/etc., he won't need another transaction!

Knowing how to use your travel agency merchant account will help you maximize it and make more sales

• Know your sales tax rate.
• Keep your account updated.
• Avoid high-risk transactions.

Understand payment methods and how they affect your merchant account, as well as how to accept them in the most efficient way possible (for example, understand when you should use chip readers instead of mag stripe).

Conclusion

The best way to use your travel agency merchant account is by knowing how it works. Some of these tips may seem like common sense, but they can make a big difference in the long run. If you keep up with these things, then you'll be able to maximize your profits and get more sales from customers who trust your brand!