The latest news, thoughts and insights from our experts in travel payments
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Insights
The Surcharge Myth: How smart surcharging recovers your lost thousands
Many travel businesses believe card surcharges are banned altogether, but that’s a (costly) myth. While consumer card surcharges are prohibited, corporate and international cards are fair game. Learn how Felloh’s smart surcharging helps you recover processing costs compliantly and protect your margins.
The Surcharge Myth: How smart surcharging recovers your lost thousands
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Reconciliation: What it is and why your Travel Business needs it
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Celebrating Another Year as an AITO Business Partner
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Barclays ePDQ Service is Retiring: A 4-Step Guide for Travel Merchants
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Lorem Ipsum is simply dummy text of the printing and typesetting industry.
Lorem Ipsum is simply dummy text of the printing and typesetting industry.
Reconciliation: What it is and why your Travel Business needs it
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Celebrating Another Year as an AITO Business Partner
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Barclays ePDQ Service is Retiring: A 4-Step Guide for Travel Merchants
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Case Study: How Adventurous Ewe automated 100+ Payment Links – without leaving their spreadsheet
Case Study: How Adventurous Ewe automated 100+ Payment Links – without leaving their spreadsheet
How to make your travel business flow seamlessly
Zapier + Felloh: Reconciling Acquirer Settlements in Xero (and Beyond) Made Easy
Navigating change: What we learned from ABTA finance conference day 2
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NEWS & RESOURCES
We love sharing our travel expertise, so we're always creating new resources to help travel businesses succeed.
We love sharing our travel expertise, so we're always creating new resources to help travel businesses succeed.
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Insights
Payments is full of jargon and several different parties to make it happen, here we explain how it all fits together and the Role of Merchant Acquirers, Card Schemes and Card Issuers in the UK
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1
Automate your manual tasks with AI-powered Software as a Service
You don’t need in-house AI tools to do this, most software providers will be doing the heavy lifting for you
2
Step up your SEO and AI Optimisation (AIO) strategy
Make sure your experiences are easily discoverable in consumer-generated itineraries. If you’ve invested in search engine optimisation (SEO) in the past, a lot of that work will be paying off now, but if not, it’s never too late to tag your images, set meta descriptions and make sure your most important content is machine readable.
3
Experiment cautiously with customer facing AI tools
If you’re not yet using any AI in your business, now is not the time to rip out your search function on your website and replace it with an AI chat bot! As an end consumer you probably know how frustrating it can be to deal with a poorly trained bot. Instead, find a problem you have which is worth solving but not business critical to start learning in a low-risk environment.
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Insights
The Role of Merchant Acquirers, Card Schemes and Card Issuers in the UK
When you make a payment with a credit or debit card, there are a number of different organisations involved in processing the transaction. These include the merchant acquirer, the card scheme, and the card issuer.
The merchant acquirer is the financial institution that works with merchants, in our case travel agents or tour operators, to accept credit and debit cards. The acquire collect the payments from the cardholder's bank and then send the funds to the merchant.
The card scheme is an organisation that sets the rules for how credit and debit cards are used. Card Schemes also provide the infrastructure that allows merchants and cardholders to connect with each other. The most well-known card schemes in the UK are Visa, Mastercard, and American Express.
The card issuer is the bank or financial institution that issued the credit or debit card to the cardholder. The issuer is responsible for managing the cardholder's account, including processing payments, setting spending limits, and issuing refunds.
When a cardholder makes a payment with a credit or debit card, the following steps take place (I have skipped some authorisation and fraud checks for simplicity)
The merchant acquirer and the card issuer each charge a fee for processing card payments. These fees are known as scheme fees and interchange.
Scheme fees are charged by the card scheme to the merchant acquirer. These fees cover the costs of operating the card scheme, such as fraud prevention and marketing.
Interchange is charged by the merchant acquirer to the card issuer. This fee covers the costs of processing the payment, such as authorisation and settlement.
The amount of scheme fees and interchange charged for a card payment varies depending on the type of card, the amount of the transaction, and the merchant's location.
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