Top criteria to consider in post-COVID-19 hotel payments processing

To satisfy post COVID-19 emerging market demands and improve guest satisfaction while maintaining business operations and sustainability, hoteliers need to increase the importance they place on payment processes.

To help you when considering your payment operations and revising your systems, here are the fundamental criteria to consider when choosing a new payment solution:-

Modern guests' payment preferences have changed, so hotel payment systems must address and satisfy these preferences. The payment processing systems for hotels can integrate modern payment solutions like a digital wallet, pay by link, virtual cards and contactless cards, among others, plus they should allow guests to pay in any currency.

Any future payment solution must integrate with existing software that manages business operations (i.e., Internet Booking Engine (IBE), Channel Manager, EPoS, Property Management System (PMS), and so on) to help with payment processing, to save staff time, deliver a smooth guest experience and minimise lost revenue.

An optimum hotel payments solution should offer transparent rates for all transactions, Interchange, Scheme and Acquirer fees (IC++), and fast access to funds so that the hotel's cash flow is not affected by any hidden fees.

The payment gateway must be reliable, trustworthy, and safe for both customers and the hotel. Compliance and security are essential for any modern business – and hoteliers must choose a hotel payments processing provider that prevents chargebacks, easily manages refunds and adheres to current business standards like the Second Payment Services Directive (PSD2), Payment Card Industry (PCI) security, General Data Protection Regulation (GDPR), and Point to Point Encryption (P2PE).

It is important to select a solution that’s future-proofed and constantly being updated to meet the needs of today’s guest and from a provider that is there when you need them most – from seamless onboarding to prompt support.

The "Top criteria to consider in post-COVID-19 hotel payments processing" eBook details all the essential information you need to know before choosing a new payment processing solution or upgrading an existing one.  The pros and cons of opting for an end-to-end integrated payment solution are clearly highlighted to help you make an informed decision that will benefit your business in the long-term. Download it below!