About the Jet Charter Industry
Jet charter companies offer bespoke on-demand aviation services to high net worth individuals, corporate clients and luxury travellers. This industry involves big transactions, complex booking processes and high level of customer service so choosing the right payment processing solution is key to success.
In the private aviation world, jet charter companies need to be able to process payments fast, secure and globally to meet the expectations of their discerning clients. Whether you’re booking a flight for business, leisure or personal travel, your payment processing needs to be easy and seamless to keep your clients trusting and loyal to you.
Why Jet Charter Companies are High Risk
The jet charter industry is classified as high risk for payment processing due to several factors specific to the business. Jet charter companies often process payments in the tens of thousands of dollars per booking, which increases the risk of chargebacks and fraud.
High chargeback risk is another concern, as cancellations, disputes, and last-minute changes can lead to chargebacks that traditional processors may not be equipped to handle. The exclusive nature of the industry and the luxurious services offered to clients also require personalized payment solutions, adding another layer of complexity to the payment process.
Choosing the right merchant services provider is crucial to navigating these challenges and ensuring smooth transactions for both the business and its clients.
Why Choose the Right Payment Processor for Jet Charter Companies?
Choosing the right payment processor can impact your business. Specialised solutions offer:
- Reduced Risk of Account Termination: High risk industries like jet charter need processors who understand the industry and can handle big ticket transactions without freezing or terminating accounts.
- Fast Payment Processing: A reliable payment processor will process payments quickly so there’s no delay or issues that can impact flight bookings and customer satisfaction.
- Advanced Fraud Protection: Specialised payment processors have top level security features including PCI compliance, encryption and real-time fraud detection to protect your clients’ sensitive data.
- Custom Payment Options: Jet charter clients expect flexible payment methods from credit cards to wire transfers and the right payment processor will have a range of payment options to suit their needs.
Merchant Account Options for Jet Charter Companies
When setting up payment processing for your jet charter business choosing the right merchant account type is key. Here are the options:
- High Risk Merchant Accounts: These accounts are designed for industries like aviation where big transactions and high chargeback rates are common. A high risk merchant account will allow your business to process payments securely and reduce the risk of account freezing or termination.
- Dedicated Merchant Accounts: These accounts are customised to your business with personalised support and advanced fraud protection ideal for jet charter companies with big ticket transactions.
By working with a provider who understands the complexities of jet charter transactions you can ensure your payment system is secure, scalable and ready for your business.
Choosing a Payment Processing Partner
Choosing a payment processor for your jet charter business involves considering several key factors. First, it’s essential to select a processor with experience in high-risk industries like aviation, travel, and luxury services. This expertise ensures they understand the unique challenges and risks associated with your business. Security and compliance should be a top priority, so ensure the processor is PCI-DSS compliant, utilizes encryption, and incorporates advanced security measures to protect your clients’ payment information.
Given that jet charter businesses often deal with clients worldwide, it’s important to partner with a provider that can handle international transactions and foreign currencies seamlessly. Excellent customer support is crucial, especially when handling large transactions and complex bookings, so choose a provider known for responsive and reliable service.
What You’ll Need for Merchant Services
To get started with payment processing is easy but you’ll need to provide the following documents to set up your merchant account:
- Photo ID: A government issued ID to verify the business owner.
- Signed Merchant Application: This is the standard form for setting up your account.
- Voided Check or Bank Letter: This helps us verify your banking info so payments go smoothly.
- Bank Statements: Three months of statements to show your financials
- Processing History: If you’ve processed payments before previous statements can help us understand your business.
- Business Documentation: Stuff like your license or medical certifications to keep it legit.
Key Software Integrations for Jet Charter Payment Processing
Your payment processing system should integrate with the software tools you already use to manage bookings, customer data and operations. Popular integrations for jet charter companies are:
- Booking and Reservation Systems: Integration with booking platforms to smooth the transaction flow during the booking process.
- CRM Systems: Integration with your customer relationship management software to automate invoicing and payment tracking.
- Accounting Software: Integrate with accounting platforms like QuickBooks or Xero to simplify financial reporting.
- Mobile Payment Solutions: Many jet charter clients pay via mobile so integration with mobile payment gateways (e.g. Apple Pay, Google Pay) can be an added convenience.
