Why Multicurrency Payment Processing Is First Exigency for The Travel Agency Merchant Account

The travel industry is the vast and most love industry in the market. People love to travel and visit new places across the globe. There are several ups and downs in this industry due to pandemics, but still, people are willing to explore the world.

As per the report and research, the global online travel agency market hit a value of nearly $744.7 billion in 2019, rising at a CAGR of 7.9% since 2015. The market waned from $744.7 billion in 2019 to $595.8 billion in 2020 at a CAGR of -20%. Due to the COVID-19 pandemic globally, as most countries went into lockdown with severe travel restrictions. Consequently, industries like airlines, railways, hospitality, and tourism all suffered significant setbacks. The market is supposed to grow at a CAGR of 14.8% from 2021 and hit $902.2 billion in 2023.

Amald helps travel merchants with a Travel Agency Merchant Account to make their payment processing way more convenient for you. Additionally, it gives you several other benefits which make your payment processing hassle-free and convenient.

 

Why need Travel Agency Merchant Account for your business? 

Travel agency Merchant Account is the basic need for any travel agent looking to join the e-commerce industry. A merchant account works the same as a bank account, allowing the merchant to receive their payouts hassle-free. Additionally, merchants get the ability to process card payments with a merchant account service. Your customers can pay using their credit cards and debit cards against their purchases.

 



What change multicurrency payment processing makes? 

When it comes to deal with the global market, it is vital to have the ability to process and accept payments from your customers in diverse currencies. Having the coinage solution gets you more business and more customers and makes your business trustworthy for your customers.

As a merchant, you should opt for the Travel Agency Merchant An account with multicurrency payment processing. It benefits you and your customer in multiple ways, which we will discuss in this blog.

There are various other benefits you get with multicurrency payment processing. Here are those:

For Merchant:

  • Enhance Sales: Displaying the prices in different currencies is beneficial for a merchant. It helps them in increasing their sales globally.
  • Higher Conversion Rate: While making an online purchase, your customer does not need to focus on converting the price into local currency. The only focus should be on purchasing products or services paying in their local cash. Using multiple currency payment processing gives the merchant the ability to higher the conversion rate of merchants to customers.
  • Reduce Chargebacks: Currency transparency makes purchasing easy and convenient for the customers. As a result, it reduces the chargebacks. Also, it minimizes the service queries from customers, plus, it supports merchants to make their customer shopping experience excellent.
  • Enhanced Customer’s Trust: A customer found it comfortable purchasing any product or service with the payment displaying in their local currency. It builds the customer’s trust or enhances their loyalty towards the merchant.
  • Reduce Expenses: Multicurrency payment processing is the best way to reduce the processing fees or expenses. Plus, it lowers the foreign exchange risks.
  • Competitive Advantages: As a merchant, you can be on the list of top competitors in the market. It brings your customers to visit again and purchases more from your website.

For Customers:

  • Better Experience: Prices displayed in the local cash gives the customers a better shopping experience. It also offers them more ease. 
  • No Extra Fee: Customers can make payments in their local currency with no surprise factor at the end. They can avoid the currency exchange fees by making payments in their local cash.
  • Well Informed: When your customers will be well informed, they will be confident enough to make more purchases from your website. This will eventually enhance the number of sales and revenue.
  • No Transaction Fee: Allowing your customers to pay in their local cash then there will be no foreign transaction fees on their final statement of the purchases.

 

Other benefits

Amald offers several other benefits with a Travel Agency Merchant Account, making your payment processing secure and hassle-free for your customers.

  • Easy integration
  • Multiple payment methods
  • Coinage solution
  • Credit card processing
  • Offshore merchant account solution
  • PCI-DSS Level 1 compliance with SSL encryption
  • Chargeback management
  • Fraud protection tools
  • 24*7 customer support

 

Conclusion 

Amald offers Travel Agency Merchant Account along with high-risk payment gateway integration with their website. With its payment tools, you can submit your customers to make easy and convenient payment processing.

Plus, we offer a security solution that makes your payment processing securely for your customers. Our high-risk payment gateway complies with PCI-DSS Level 1 compliance with SSL encryption, which encrypts your sensitive payment information and secures your card transactions from attackers.

To learn more about our merchant account service and us, connect with our experts right away.


Tags: High Risk Gateways, eCheck Payment Gateway, 2d Payment Gateway, Payment Gateway Malaysia,  Online Gaming Merchant Account, International Payment Gateway

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