The Best Merchant Account For Hard To Place & High Risk Businesses In The Lodging Industry
- Instant Online Quote. When you submit your application, you’ll get an instant price quote to DocuSign. No offline paperwork, no faxes, no waiting.
- Industry Minimum Pricing. You will automatically receive Industry Minimum Pricing in your online quote. No more frustrating haggling with sales reps.
- USA-Based Customer Support. When you call or email, you’ll always speak to our friendly support team, based in Houston, TX.
Frequently Asked Questions
What types of lodging industry businesses do you accept?
Soar Payments accepts a wide range of merchants within the lodging industry. These include micro and small businesses (such as a single unit vacation rental), as well as mid-sized and corporate chains. Our merchants include hotels, motels, resorts, lodges, vacation rentals, hostels, and bed and breakfast type businesses.
Soar Payments can also support hotel brokers, that is, businesses similar to Orbitz, Travelocity, or Hotels.com. Hotel brokers are required to provide proof of reseller agreements with hotels (that is, they must provide documentation of their agreements with specific hotels).
Is there a transaction ceiling for lodging industry merchant accounts?
We understand that a long term reservation from even a single client can equate to thousands of dollars (or tens of thousands of dollars, in the case of a corporate client or the rental of a luxury suite). For many lodging industry businesses, it’s imperative that they be able to process very large ticket sizes and pre-authorizations.
During the application process, you can tell us how much your largest typical ticket size runs; when an underwriter reviews your application, it will be reviewed with your business’ specific transaction ceiling in mind. However, know that a larger the approved single ticket size, equates to more perceived financial risk to the credit card processor. Therefore, you may be asked to provide business financials or other documentation if the underwriting team deems necessary. If requesting an average ticket size larger than $5,000, you will likely be asked to provide the prior two years of business financials.
Does a Soar Payments merchant account allow for payment of an advance reservation? How about preauthorizations?
We understand that it is important for cash flow and operational reasons that your lodging industry business be able to accept advance reservation payments. A Soar Payments merchant account will allow payments for booking reservations up to one full year in advance. Reservations may not allow payments in excess of one year in advance, or with a payment plan that exceeds 12 months.
Merchants may preauthorize a customer’s card within their gateway or terminal of choice, and settle the full payment after the booking. We highly suggest that all merchants communicate this process to their customers, and obtain payment authorization agreements, to avoid any false chargebacks due to the customer forgetting about the booking, or trying to avoid covering the payment.
What types of lodging and hotel merchant accounts does Soar Payments offer?
Soar Payments offers a full-spectrum of merchant services to lodging industry companies. These include:
- Retail: A retail merchant account enables businesses to accept face-to-face debit and credit card payments via a traditional credit card machine or point of sale system.
- Mobile: A mobile merchant account enables your business to accept face-to-face credit and debit card payments via a swiper (included with each account) that plugs into your mobile phone or iPad.
- Virtual Terminal: Also called a payment gateway merchant account, a virtual terminal enables businesses to accept payments over the phone, via mail, or typed into a computer (without needing other equipment).
- eCommerce: An eCommerce merchant account allows you to accept credit card payments via your website’s online shopping cart.
How Does The Application Process Work?
Step 1. Apply Online
Complete the online application process (it takes 5 minutes). Click here to begin.
Step 2. Get An Instant Quote
You’ll instantly receive a quote with Industry Minimum Pricing to DocuSign.
Step 3. Start Accepting Payments
Our Houston based Customer Support Team will help you get set up, fast and easily.
Our friendly Customer Support Team is standing by to approve your application:
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