These tailored services are designed to meet the needs of specific industries and are set out in alphabetical order.
Cash Advances / Bureaux de Changes
The cash advances / bureaux de changes services differ to a purchase with cash back transaction, as a cash advance can be given without the cardholder having to purchase anything.
This specialist service is primarily designed for a Bureau de Change that provides foreign currency or travellers’ cheques to cardholders.
An acquiring bank will provide details on the card schemes’ procedures that have to be followed when accepting this type of transaction.
Express Checkout
The express checkout service has been specially designed for the hotel industry. When a guest is ready to leave, they return their keys and leave the hotel without waiting for their bill to be made up. This allows a merchant to make up the bill at a more convenient time in the day without their guest having to wait.
This service is only available for certain card schemes and an acquiring bank can provide further details and detail any other actions a merchant should take when accepting a hotel booking.
Guaranteed / Assured Reservations
The guaranteed / assured reservations service has been specially designed for the hotel industry. When a hotel guest books a room and provides their card number the room is then guaranteed. If the guest does not arrive or cancels their room booking after an agreed deadline, the merchant is entitled to charge the card for one night’s stay. This service is only available for certain card schemes and an acquiring bank can provide further details and detail any other actions a merchant should take when accepting this type of booking.
Pre-Authorisations
Primarily designed for the hotel industry or car rental companies. In the case of the hotel industry, the pre-authorisation service allows a merchant to estimate their guest’s final bill and reserve this amount on their card account while the guest is staying with them.
Although the funds have been pre-authorised and the transaction has not yet been processed, this will earmark funds and reduce the amount that the cardholder has available to spend on their card.
Since this is a specialised service, a merchant will need to discuss with their acquiring bank the procedures to follow and how to process the final card transaction. In the case of a hotel, this is when the cardholder checks out.
