The Lodging Program and How it Can Lower Credit Card Processing Rates
Typically, it's always cheaper for merchants to swipe a credit card than key it into a terminal. This is always true for any MasterCard transaction as the cost to process is always less expensive in a card present environment as opposed to a card not present environment.
However, merchant account providers can secure the same rate for qualified Visa transactions -- whether the card is swiped or keyed. Now merchant account providers, such as well ... us ... IntelliCollect, can pass on the savings to hotel and lodge industry merchants and offer the coveted "Lodging program."
Merchants must qualify for the best Visa lodging rate by submitting answers to all of the lodging questions that the program requires. The following information must be included: Check-in date, check-out date, duration of stay, and folio number. (The folio number is the number assigned by the hotel or lodge to a guest and should appear on the customer's registration card and on the guest folio which itemizes the guest's charges.)
Where do you input this information? You simply use a compatible third party software application designed specifically for lodges or hotels -- already embedded with the lodging certified credit card processing modules or fields. Alternatively, folks who need hotel credit card processing or lodge cc processing can use a credit card terminal that can pass on this lodging specific data.
It's also imperative that the merchant account agent indicates the correct SIC code to secure the lodging program: SIC code 7011. (Each business is categorized by a code depending on the nature of the business.) Once the correct code is designated, you're now able to secure lower credit card processing rates for your keyed-in transactions.
While I've highlighted a program that will reduce cc expenses for hotel and lodge owners, please note that folks who own resorts, bed and breakfast, motels, inns ... or any type of structure offering guest stay over rooms can benefit. Yes, by putting in more transaction data, you can secure special rates, particularly for Visa transactions, assuming the provider passes on the lower Interchange savings to you.
And, of course, there's always a vacancy for those who need to lower expenses relating to hotel credit card processing, lodge credit card processing, etc.
