Being able to accept payments from many different bank accounts from multiple locations is critical in the travel industry. Whether your customers are paying online, in person, or over the phone; a proper payment gateway is key for every travel company. But, what exactly is a payment gateway and how does it work with tourism businesses?
First Direct Financial is one of the country’s industry leaders in payment processing. We make your payment system simple, secure, and reliable by using state-of-the-art tokenization standards required in all business transactions. Read our article below and learn how our services can enhance your payment gateway.
What is a Payment Gateway?
Simply put, payment gateways are a technology that captures and transfers payment data from the customer to the business. They are what keeps payments running smoothly and safely across multiple payment platforms. Most prominently, they are a key player in online shopping because they encrypt sensitive information and enable communication between two servers: the merchant’s server and payment gateway service.
What Are The Benefits of a Payment Gateway?
They Provide Better Cash-Flow
An optimized payment system offers businesses better cash flow. Because reservations and payments are usually completed at the same time, having a payment gateway can make the process much smoother. According to Wetravel Academy, “You can also offer discounts for prompt payments, or a flexible payment schedule for bigger transactions that still enables you to gather amounts as you need it to manage onward cash flow”.
Payment Gateway Brings Instant Payments
Being able to immediately approve or deny a payment is one of the biggest benefits of a gateway. This allows you to ensure you’re not servicing people whose payments may later be denied. Moreover, it ensures you get instant access to your customer’s money to save or invest back into your business.
Mobile Payment Friendly
Mobile purchasing aligns well with the Travel and Tourism industry, as they support and enable mobility. Mobile devices are one of the few items people carry when they explore or relax during their getaway. For travelers, mobile payments are a convenient way to purchase things they need for a fun break from daily life. Incorporating a payment gateway enables those in the travel and tourism industry to provide mobile payments for easy, safe transactions for customers.
Better Security, Less Risk of Theft
Investing in a payment gateway brings a new level of security for your business via the Payment Card Industry Data Security Standard (PCI DSS). When you work with a PCI DSS-certified merchant services company, you can rest assure knowing customer’s card data is protected. PCI DSS is a system of standards put in place that maintain high-security standards for e-commerce. It defines a series of specific data security standards that are relevant to all merchants, regardless of revenue and transaction volume.
Payment Gateways Enable You to Accept Payments in a Variety of Currencies
Another incredible benefit gateways have in the travel and tourism industry is that you can accept currencies from other countries. This ensures you can reach customers from around the world, enabling them to make payments in their local currency. This significantly improves the payment process experience for international travelers, as well as transfer their currency to local currency.
First Direct Financial is Your Source for High-Level Payment Gateway
First Direct Financial maintains a large network of representatives nationwide. We keep strict guidelines on all staff to ensure our clients receive the best merchant services possible. From data protection and credit card processing to depositing, we’re there for you every step of the way. Contact us today and learn how we can help your business make transactions easier.