Group Travel Company Collects Payments Faster and More Securely Than Ever
About the Organization
Travel Bound, A GTA Americas LLC Company, LLC is a world leader in provisioning ground travel products and services to the fully independent travel industry. They have thousands of employees throughout offices worldwide and have been a leader in the group travel space for nearly four decades. The Travel Bound teams scour the globe to build a portfolio of tens of thousands of accommodation options, city tours, attraction tickets, and much more, in order to create unique experiences for their customers and travelers. An important part of maintaining their high global reputation is speed, reliable technology, and most importantly, trustworthiness.
Travel Bound’s Challenge
Keeping customer’s credit card information secure was a challenge for Travel Bound. Due to a growing demand from their customers (travel agents) to ensure that credit card payments were being collected via a secure, PCI compliant, electronic payment solution, Travel Bound knew they needed to make a change to their collection process. Prior to partnering with PaySimple, Travel Bound was accepting payments over the phone or via fax. Despite internal controls, the potential of finding unattended credit card information lying on a fax machine kept them up at night. Thus, they began a search for a more secure method.
Surprisingly, utilizing electronic payments is still a newer opportunity for group travel coordinators. While individual travelers have been using sites like Travelocity and Expedia to book travel and pay electronically for years, the group travel industry has been unable to adopt a similar technology. One reason is that credit card and ACH (e-check) processors have not always been willing to support the travel industry due to the risk involved with potential travel cancellations or payment disputes, for individual and group travel alike. However, PaySimple partners with an elite group of credit card processors who are willing and able to support businesses like Travel Bound.
The executives at Travel Bound began their search for PCI compliant payment services and quickly found PaySimple. After a few software demos and a deeper understanding of how the solution would work for their unique business, the final approval/underwriting process began. After approval from the credit card processor was secured, it was time to implement the PaySimple solution.
Travel Bound officially became a PaySimple customer in December 2013. With the help of their dedicated account manager, Travel Bound and PaySimple worked together to integrate the new solution to their already existing business practices. Travel Bound is primarily using the invoicing functionality to reach both the individual travelers and travel agents. Here’s a deeper look at their process in the PaySimple system:
- Travel Bound creates an invoice on behalf of the individual travel agencies and sends one invoice for the total cost of the group travel event.
- The agency then notifies the individual traveler about their portion of the cost.
- When the traveler’s payment is due, he or she provides the agency with their payment details or credit card numbers, and the agency makes a partial payment on the outstanding invoice on behalf of the traveler.
- The remainder is then paid by either ACH or credit card by the travel agency.
Travel Bound is using the PaySimple solution in a unique way to streamline the combination of traveler and agency payments. Not only are they providing a secure way to collect credit card payments, but they are tracking to collect payments faster and easier than they had previously.
After testing PaySimple to bill one of their biggest customers, they received positive feedback about the new process and the increased security. Thanks to the incredibly positive feedback thus far, Travel Bound will be launching the invoicing functionality to thousands of travel agencies. Travel Bound is also excited to share their results with other agencies and fellow group travel coordinators in monthly travel publications. They will continue to build their brand as an industry leader in group travel, by showing the ease and security with which they collect payments.
Tommy Ryder, Head of Groups, Travel Bound, said: “This new payment system puts us ahead of competitors by allowing us to securely accept multiple credit cards for group travel bookings, making it even easier to do business with us. It helps our customers spread the risk and provide a better service to their clients in turn.”
What’s next on the horizon for Travel Bound? They are looking forward to growing their group travel to other emerging markets across the next year. PaySimple is looking forward to continuing to partner with them to support their business through simplifying the billing and collecting process to help them remain an industry leader.