Online travel agencies (OTAs) face a number of challenges in their day-to-day operations, many related to payment processing. Whether it’s high payment processing fees, chargebacks, credit card declines, or regional restrictions on purchases, agencies are beholden to the credit card companies who control their payments. These problems can strain the relationship between OTAs and their customers, with customers often not revisiting an agency after a bad experience that was caused by a credit card company’s policy. This is where cryptocurrency offers an innovative solution. By eliminating traditional credit card payments, cryptocurrency payment processing offers the ability to the solve these problems.
Recently, we saw the possibilities crypto offered to online travel agencies when a client, Sky Tours, started using RocketFuel Blockchain. By accepting cryptocurrencies through RocketFuel, Sky Tours was able to avoid many of the problems OTAs face, allowing them to add additional revenue channels, expand their market beyond regional boundaries, avoid problems associated with credit card payments, and cut out middlemen from their merchant-customer relationship.
Here are some of the pain points they faced and the solutions RocketFuel offered.
OTAs face five core pain points with traditional credit card payment processing.
RocketFuel’s 1-Click Checkout solution offers an alternative payment option that solves most of these problems. This not only expands your market but eliminates the middleman and increases your profit. Here are some of the benefits that Rocketfuel offers:
Cryptocurrency is changing the online payment game and offering a solution to problems associated with traditional credit card options in the travel industry. With RocketFuel, your online travel agency can not only leverage crypto by offering more payment options, but it lowers your costs and improves customer relations with a more direct payment solution. Simply put, this will allow you to offer a better customer experience, maintain control over the end-customer relationship, improve your cash flow, lower your costs, and offer an accessible solution that isn’t hampered by cross-border credit card restrictions.
To learn more about RocketFuel and how it can help your online travel agency, contact us for a free demo.