Timeshare vacation homes are a great way for people to enjoy the benefits of owning a vacation property without the costs of full-time ownership. Humboldt Merchant Services is experienced with timeshare payment processing and can make it easy for you to enjoy the process.

The travel industry is booming now that the pandemic restrictions are being lifted around the world. Timeshare properties are seeing substantial growth, and this trend looks like it will continue for the foreseeable future. The ability to take payments via credit or debit cards is a necessary aspect of this industry. The more that you know and understand how this works, the better your business will run without hiccups. 

What are high-risk industries?

The merchant card processing industry is highly regulated. Terrorist financing, money laundering, fraud, and cybersecurity breaches are ever-present risks in merchant card processing. Processing companies are required to take a risk-based approach to perform their customer due diligence. Additional steps are taken to ensure that illegal activities are not happening in this and other high-risk industries. Part of the risk prevention that merchant card processing companies use is the monitoring of activity in the account. Multiple chargebacks and fraud detection sets off alarms, and it is the responsibility of the merchant card processing company to take action to prevent these activities.

Why is timeshare payment processing considered high-risk?

Timeshares are considered a high ticket and high-risk transaction because the transactions happen without a credit or debit card present. These types of transactions often lead to chargebacks. Travel plans can change at the last minute and that leads to people trying to cancel their payments. It is important to have a good chargeback mitigation process, and Humboldt Merchant Services has in-house programs that keep everything under one roof. Chargeback reporting, as well as risk and underwriting services, are handled quickly and effectively so that you can focus on running your business.

Fraud detection and resolution.

Unfortunately, cybercriminals are everywhere. Timeshare properties are no exception to this rule. Humboldt Merchant Services has devised a great way to spot fraud and resolve any issues that may come up. Fraudcast is a fantastic tool that is easy to use and will alert you to any possible fraudulent transactions. Visa and Mastercard will mark any transactions that appear fraudulent, and you will get a notification the next day. This will allow you to delete files that you are not comfortable with. You will even have the ability to upload supporting documentation that you will need in the dispute process.

By using seamless end-to-end tokenization, Humboldt Merchant Services maintains the safety and security that you can depend on for your transactions.

Humboldt Merchant Services has been helping businesses accept payments for over 25 years. By offering customized payment processing solutions, Humboldt Payment Processing can help your business run smoothly at all times. Check us out online, or call 877 387-5642 to speak with a representative today.