Apply Online
Visa Mastercard Discover Amex

Credit Card Processing for Timeshares

Best Payment Processing Provider

Features an Online Credit Card Processing Provider Should Offer Your Timeshares Business. In today’s digital world, most of the customers are online. Hence, it has become an imperative for businesses, online or otherwise, to offer customers alternatives to cash-only payments. Card processing is one of them; they can be introduced as card present or card not present transactions. In order to be able to process card payments, your business first needs to hire a payment provider. Choosing the right one will ensure you get the best value for your money. Here are 6 features your payment processor should offer your timeshares business.

Secure Solutions Provider

It is a breach of trust if you are unable to protect sensitive customer data. There is no doubt about it that card not present transactions are the most convenient. However, they are also the most vulnerable to online fraud. Hackers intercept systems over which data transmission and payment processing takes place. They use the stolen data to complete fraudulent transactions. Each year, millions of dollars are lost in identity theft. Hence, choosing a payment processor offering top-notch security is important. End-to-end encryption and tokenisation are some of the security protocols that can help keep a payment gateway secure.

Talk to your payment processor to understand the different security measures adopted to prevent online credit card fraud and to offer your customers a safe transacting experience. Their past security record can also help you decide if the payment processor is capable of handling the security needs of a high-risk business. It is best to work with a PCI compliant processor.

Timeshare Merchant Solutions

A one-size-fits all approach for payment solutions can be damaging to a business. Although a timeshare business is one of the many high-risk industries, it is not necessary that its needs, opportunities and challenges will be the same as other high-risk businesses. The payment processor you want to partner with should first be an expert in your area of operation. In addition to this, they should make an effort to gain an insight into your business so as to understand its unique needs as well as the challenges it poses. Based on this, they should be able to provide your business with individualised high-risk merchant services. You might want an offshore account or multi-currency acceptance or same day funding. Your merchant account provider should be able to give it to you.

Customer Service & Support

What would happen if your payment system is down due to a technical glitch and there is no one you can contact to resolve it? You will lose customers simply because they couldn’t pay. Responsive and dedicated customer service is a necessity for a high-risk timeshare merchant account. The support staff should be available 24/7 to attend to any complaints forwarded by clients. We are not talking about prerecord voice messages or autoreply mails. Clients should be able to contact a real person either via email, on the phone or live chat. Also, customer support shouldn’t only be about troubleshooting. Representatives should also be competent enough and willing to help clients get around the system. If your payment processor cannot offer that, it is time to switch providers.

Scalable Payment Processor Solutions

As a start up or a small timeshare business, your needs for payment processing must be limited right now. However, merchant account providers should bear in mind that businesses grow and expand gradually and with it their needs change too. High-risk timeshare merchant account providers should be flexible when it comes to altering the terms of payment processing to match the requirements of a growing business. You shouldn’t be forced to sign long-term contracts that keep you tied to a payment processor. If you do you won’t be able to switch payment processors due to high early account termination fees. Payment technology is also advancing every day. We have gone from point of sale systems to card not present transactions to digital wallets. Your payment processor should offer the latest in technology and should be able to adapt to changing trends in payment processing.

Lower Fees and Rates

Just because you are a high-risk merchant you shouldn’t be paying exorbitant fees for your merchant services account. The rates will vary with every different credit card processor. Your payment processor should be transparent about fee structure. They also shouldn’t be charging unnecessary fees such as application and setup fees and batch fees to make a profit.

High Risk Merchant Service Specialists

When it comes to merchant account services for timeshare businesses, merchants want to make sure they at least get the basics right. Thus, meeting the immediate needs of a business is the priority. A high-risk merchant account provider that is really invested in the welfare of your business will not hesitate in offering additional services free of cost or at a nominal fee. These add-on features include gift card processing, fraud detection and prevention, ecommerce programs or payment processing equipment. Merchant account providers are dime a dozen for timeshare businesses. You need to scour the market for one that puts the welfare of your business before everything else.