Credit Card Processor for Time Shares
Nowadays, timeshares are increasing in popularity as people love to travel, and especially love to invest in a good deal. Whether you’re renting/leasing your timeshare to or selling a timeshare, you want to be able to accept credit cards from around the world in an affordable, timely, hassle-free process.
- Classifieds, Rentals and Resale Services
- Relief and Escape from Timeshare Providers
- Attorney Based Timeshare Contract Dispute
- Tour Operators and Reseller Clubs
- Advertising companies and classifieds and marketing services
- Ideal for those Shutoff or Cancelled by other Processors like Intuit, First Data, Stripe, Paypal, Square
- Multiple Underwriting Banks High Risk Merchant Service provider
- Both Domestic and Offshore Merchant Solutions
- High Volume Merchants Approved
Travel and vacation-related businesses including travel packages, airfare, cruises or vacation rentals and timeshares are typically considered high risk because credit card processing tends to involve a large transaction completed over the phone or internet, in an industry prone to customer remorse, complaints and disputes. The time between advance booking to actually receiving goods/services is often very long. Disputes often arise over cancellations and refunds. In fact, in the past, timeshare merchants were often denied credit card processing. Some merchant account providers have jumped back in to offer processing to timeshare customers, but you must be diligent in investigating fees, terms and conditions.
Credit card processors charge different fees depending on the type of transaction completed. Fees can vary depending on whether the customer’s card was physically present at time of sale, what type of card is used (credit, debit, American Express, etc), and the type of business you conduct. Banks want to guard against the risk of chargebacks (aka charge disputes) which cost can cost them time and money. Travel merchants should shop around for the best processing rates, and also look for a merchant processing account that offers high processing limits so that you are not delayed in collecting high volume transactions. Some timeshare advertisers, especially ones with a chargeback rate over 1%, may be denied merchant accounts or required to hold funds in escrow accounts. Offshore merchant accounts are another option to carefully consider. Many merchant account providers will provide tools to help educate you on mitigating risk- take advantage of these as they are an important component to lowering your rates further in the future!
Timeshare and other travel companies should seek a trustworthy merchant account provider to help find and keep the best rates available. There are strategies to lower your risk- maintaining a good credit score, sales and advertising methods, , average ticket, directly processing credit cards whenever this is possible, and keeping accurate records can help lower your risk rating.
Our company is familiar with a wide variety of credit card processors and typical scenarios. Most of our clients are able to obtain low rates for credit card processing, without the need to go from bank to bank seeking approval. We can help you look for credit card processors that offer the best rates, terms, conditions and customer service. We can help you consider the advantages/disadvantages of looking at offshore merchant account providers, and whether this is the right solution for your needs. We work with each business on an individual, one-on-one basis, provided education and realistic expectations to ensure you are satisfied with the outcome.