How to Choose a Payment Gateway in the Travel Industry?
Whether you’re a hotel owner, airline operator, travel agency, or tour operator, customers want to book these services right in the comfort of their homes. A payment gateway serves as a transactional bridge between you and your customers. They make online payments seamless for customers, so you can cash more revenue. Although it can be a bit of a hassle to find reliable high-risk merchant processing providers due to the risky nature of some businesses, you should still ensure you choose the right payment gateway for your travel business.
Therefore, this article will help you choose the best payment gateway for your travel business for an excellent reputation and maximum customer satisfaction. Read on to learn!
5 Things to Consider When Choosing a Payment Gateway for Your Travel Business
1. Customer Service Support
Customers may face several problems when trying to pay online to avail of your travel services. For instance, they may be facing some sort of difficulty with online payment.
Whatever their query is, it’s essential to select such a payment gateway for your business that offers 24/7 customer support. Whether it’s online, through email, or call, they should be able to help your customers in a breeze, so they don’t move on to your competitor.
2. Different Payment Methods
In this modern digital era, there are several payment methods and people all around the globe are using the ones that best suit their needs and preferences.
Hence, your selected payment gateway should be able to provide convenience to your customers by allowing them several different payment methods.
In addition to debit and credit cards, your payment gateway should allow for recurring payments, mobile payments, etc.
3. Level of Security
Security breach means that your client’s confidential and valuable personal data is not safe and sound. It can have an adverse effect on your travel business’s reputation, along with hefty fines.
When a customer makes online payment on your website, their bank account details and other sensitive data should be kept secure.
For this, you can check with payment gateways regarding how they keep customers’ confidential data safe and the encryption methods they use. It will be even better if they are PCI-DSS compliant.
4. Fees and Pricing
Every payment gateway provider has different fees and prices. You should be aware of the transaction charges, so they don’t take a huge chunk out of your profits.
In addition to this, you should ask them about any hidden charges, set-up costs, and consistent admin costs. Here, you should consider whether monthly, yearly, or per transaction charges will be better for your business.
5. Other Convenient Features
The payment gateway should be easily integrated with your website, so customers can make online payments in a cinch. Other convenient features should be offered to your clients, such as different languages, countries, and various currencies support if you run an international travel business.
Moreover, another determining factor is how fast and agile the payment gateway is. If it keeps redirecting to another website and takes extra payment processing time, it can be a huge turn-off for your customers.