Travel used to be high risk; not its ultra high risk
Travel used to be high risk; not its ultra high risk Why, after Covid, is acquirers’ appetite for travelling about risk rather than reward (or at least security)? Merchant acquiring for the travel industry finds itself at a crossroads after the impact of Covid over the last two years. Acquirers have lost money, seen […]
The rapid rise and rapid decline of Buy Now Pay Later
Travel used to be high risk; not its ultra high risk As we seem, certainly in the UK, to be teetering on the edge of a recession, there have been a lot of talks recently about the rapid rise and potentially rapid decline of Buy Now Pay Later. I will say from the outset […]
The travel industry is finally pivoting towards trust accounts
The UK’s top package holiday companies have said that it is “inevitable” that the trade will have to segregate customer money in a separate account if the Atol system is reformed. The Civil Aviation Authority (CAA) is currently considering more than 300 responses to its consultation on potential reforms to Atol and wants customer payments […]
How can I protect my business against fraud?
How can I protect my business against fraud? Travel is a high-value industry. Unfortunately, this attracts criminals who are growing ever more sophisticated in their methods. We’ve outlined a few ways you can protect your travel business from fraud: If you’re not doing so already, track customer registrations such as contact details, […]
How to tackle fraud as a Travel Merchant
How to tackle fraud as a Travel Merchant Online payment fraud is growing across the globe. However, it is absolutely essential that travel providers offer a wide variety of online payment methods to appeal to their customers. Online businesses are faced with a balancing act: how do you accept as many payment options as […]
Why should I consider using a trust account?
Why should I consider using a trust account? Demand for trust accounts has grown considerably over the last year as more travel companies recognise their benefits. The pandemic highlighted significant financial protection failings, and for some time, travel providers were plunged into payment-related chaos. Sadly, this chaos led to insolvency for a portion […]
How trust accounts will reduce risk for the travel industry The pandemic revealed that the travel industry has a problem with risk and liquidity. When travel providers received a tidal wave of refund requests when the COVID-19 pandemic began in early 2020, it was clear that travel payments and their associated risk needed a rethink. […]
Travel Trust Accounts – Cashflow Nightmares…
Travel Trust Accounts – Cashflow Nightmares or Sensible Business Strategy? For many travel companies, especially start-ups and small businesses, trust accounts provide the only available and affordable solution to meet the Package Travel Regulations – especially if having a merchant account is a requirement. At Trust My Travel we often get told by prospective members […]