The evolution of payments
Not too long ago, paying in cash and by card were the only two options. But as with almost every aspect of life, the technological revolution completely transformed the payment landscape. With the emergence of e-commerce in the 90s, electronic terminals were no longer cutting it. The need for a web-based equivalent arose and payment gateways were born. Nowadays, businesses have countless online payment providers to choose from.
Online purchases, including hotel reservations, keep increasing and especially mobile payments are gaining popularity thanks to their convenience. Meanwhile, legislations have made the process much more secure and fraud-proof.
The recent European PSD2 legislation requires Strong Customer Authentication to authorise online transactions. The additional authentication criterium can be fulfilled by means of a password, a hardware token, face recognition … Merely asking for credit card details is therefore no longer sufficient. If you still want a payment guarantee in case of no-shows or late cancellations, linking your Booking Engine to Payment Service Providers (PSPs) is the way to go. They allow for a secure paying process and are PSD2 compliant.
More convenience, less time wasted for you and your guests
Offering a smooth online payment experience is no longer a luxury, but a must. Consumers have become increasingly demanding when it comes the ease and speed of paying and so have hotel guests. Of course, they don’t want to waste time on their trip. So, why not take the payment process out of their hotel experience altogether? That way, your guests don’t have to worry about it and your staff are relieved of time-consuming tasks surrounding the payment process.
Your goal should be to automate as many steps of the payment process as possible. Thanks to automation, payments are processed much faster, which saves your staff time and limits errors. It’s a win-win situation for both hotel and guests: if you render your daily tasks more time efficient, you’ll have more time to focus on your service, improving the overall guest experience. On top of that, facilitating the payment process has been proven to directly increase your revenue as well, especially via mobile!
In a nutshell, these are the main benefits of online payments for hoteliers:
- Less administration
- Fewer errors
- Better security
- Increased revenue
A smooth & secure online payment process thanks to PSPs
If you’re still relying on mere credit card details, you’re probably spending a lot of time on processing payments and refunds. Furthermore, you won’t be covered in case of fraud, no-shows, cancellations or refusal to pay. The safest and most time-saving solution is to enable online payments through Payment Service Providers.
Not only will it save you lots of time, but the whole process becomes more secure as well. Credit card details are no longer stored within your system, so no one has access. Let's be honest, guests wouldn’t like the idea of their card details being printed out and left unattended on a desk.
Cubilis Booking Engine can be linked to a wide variety of payment partners. Be sure to provide multiple options, so your guests can use their preferred method. Some of the most common ones are:
With these PSPs, you can also offer your guests the option to pay later, with payment guarantee. The payment provider will verify their details and request additional authentication. The booking won’t go through if the details are incorrect and if the guest doesn’t show up, the according fee can still be charged.
All online reservations, including information about the corresponding online payments, are automatically transferred to your PMS. If you’ve added a reservation manually, you can send the client a payment request using a PSP to stay 100% in accordance with the PSD2 legislation.
Request your Pay Connect
Would you like to know more about the integration with PSPs or set up your connection? Let us know using the contact form below!
