Travel Industry Payment Solutions driving sales increases

A flourishing industry and one that continues to grow is the Football Travel sector.

Buying football-trip packages online for “El Clasico” (Real Madrid vs Barcelona), or perhaps a match in the Premier League between Manchester United and Arsenal, is a popular pastime for fans all over the world.
Champions League games in Europe, where one can watch Neymar and PSG, face Juventus, with Ronaldo and Dybala in the squad, are mouthwatering prospects for any football fan.

AirBnB and Tripadvisor are indispensable apps for any intrepid football enthusiast, travelling abroad to see the likes of Lionel Messi and Luka Modric perform and hopefully dictate play on the pitch and showcase their outrageous talents.
The thrill of booking flights, buying football tickets, booking hotels and attending a match, is a fantastic experience for those who wish to plan the whole experience themselves.
Alternatively, Online Travel Agencies and Travel Merchants, create perfect all-in-one package deals, which include everything necessary in order to travel from door to door (and back).

Once at the stadium, fans will want to head over to the fan-shop and purchase shirts/jerseys, match-day programs and other souvenirs to remind them of the experience. After purchasing said items, its time to head over to the fan-zone and indulge in an included match-day dining package, or perhaps just a couple of drinks at the bar.
After the game its time to head into town and taste the local nightlife and enjoy local specialties and take in the views.

So what makes all of the above possible? Travel Industry Payment Solutions.

From the moment consumers start googling for football travel packages, Ticketing Merchants and Online Travel Agencies are ready to help to create unforgettable experiences for customers and cardholders. A quality Payment Service Provider is a prerequisite, because the payment flow needs to be as seamless and easy to use as possible, with so many potential stakeholders involved a single package deal. Football clubs, agencies, transport companies, restaurants, hotels and other participating parties , will need to receive their share of the payment and the Cardholder needs a quality online experience and one which inspires trust; especially given the large(r) ticket sizes generally involved in online travel.
Online travel websites such as Booking.com and Tripadvisor, and airlines all need to use a quality Payment Service Provider and/or direct Acquiring Bank solution, in order to be able to process the billions of $’s, which are spent each year on online travel.
All Card types need to be accepted, as well as local alternative payment products, to ensure a seamless experience for consumers and ensure the highest conversions.

Of course, Payment Solution Providers catering to the Travel Merchant industry may be extra vigilant and can be cautious when it comes to Merchant acceptance. The Travel industry is a segment which is not without risk, for banks and processors who are interested in processing payments Online Travel Merchants. There can be a long period of exposure for Banks and Acquirers, due to time of booking and the event taking place. As there are so many beneficiary stakeholders involved in a single payment transaction, the operational risk increases for payment processors. Bankruptcy, (friendly) Fraud, Chargebacks and dishonest/fraudulent Merchants pose a huge risk for the financial solvency of Payment Processors and their affiliated companies.
Secondary Ticketing Merchants pose an especially large risk for PSP’s and Acquirers, as they have to depend on purchasing tickets for events that lie far ahead in the future. Once the funds have been cleared, the event may still have to take place. The risk exposure potential is enormous.

That said, it isn’t doom and gloom by any means for Travel Merchants interested in entering, or expanding into the Online Travel industry. Instead, the potential for risk exposure requires a unique and specialized perspective – and understanding of Risk Management, Risk Monitoring and Underwriting. The very same skillset is required for Payment Service Providers and MarketPlaces looking to venture into the acceptance of payments for Travel Merchants for the first time.

ACPays has a team of Payment Experts who are well acquainted with the requirements and intricacies facing Travel Merchants, PSP’s and Acquirers who are involved in the Travel Payments Industry vertical.
If you would like advice about new Payment Solutions, or receive a consult, please contact us or visit our website: https://acpays.com