Merchant Services for Time Share Compaies
Click Here to call us or get started getting setup. Unfortunately many of these types of businesses are classified as "high risk services" this is because the amounts charged by these companies the amount of purchase dollars being run through on transactions are usually high dollar amounts. Plus, members have long contracts and agreements during the setup process to fill out and agreed to. However if a participant in a timeshare program is unsatisfied with the service they will frequently just go straight to their credit card company to dispute the transaction. This combined with the large dollar amounts per transaction makes many banks shy away from timeshare industries.
As a company owner, developer, knows, these resale programs are where a group of people shares a property by dividing them selves the right to use the property for different times of the year.these programs are also known as vacation/fractional owner programs. They are typically a residential area like a condominium, houseboats, and campgrounds. In many places they are located in tropical areas like the Caribbean, Central America, Mexico, and South America. In most cases they are in resort or vacation like settings. The benefit to th the owner is splitting up the time throughout the year and only paying a small portion for example a week usage in return for yearly payments. Owners also pay annual fees for upkeep and maintenance of the property, historically speaking many timeshare development companies have developed a stigma of deceptive reselling practices, high-pressure sales tactics, and inaccurate portrayals that lead to unfulfilled expectations by owners. Unfortunately the industry also suffers from dishonest resale operators and unethical developers. This has also resulted in banks most banks shying away from processing credit cards like Visa and MasterCard in this industry,
Despite this reputation that has resulted over the years from unethical business owners, time-sharing can be a wonderful service for people who would otherwise not be able to afford these tip of facilities. We help companies like these get set up to take credit cards from their membership. The convenience and billing for credit card processing in the timeshare industry is vital for sales and revenue growth. The convenience of simply billing a clients credit card for maintenance and membership fees reduces paperwork, invoicing, and billing. That's where our consultants and agents come in helping those in your timesharing industry get set up with billing and payment processing services.
Rates will vary depending on the amount of risk involved for the bank, and if you are taking credit cards in person and having them sign contracts or are processing deposits and credit cards over the phone through telemarketing and e-commerce processing. For a card swipe transaction processing your rates will probably fall in the 2 to 4% range. This is just a ballpark however other factors come in including is a new or established business, how much volume will be processed, and other financials about the company. So as some cases rates will be higher than that and it's possible they could be lower. There is no way to quote a rate without seeing financials about the company as each case is different and unique. Be wary of companies that quote rates without understanding your business model you could be lured in only to have your account shut off and your funds held onto.
Please note our copy specializes in this type of high risk merchant processing service. To get the process started you will need to fill out an application and get your documentation together. We will help you throughout the process to make it is smooth and a simple. As possible