Online Payment Solution
The benefits of an online payment system for hoteliers.
The continuously evolving nature of the accommodation industry brings many new challenges and technologies for hoteliers. Below, are the benefits of an online payment system, which enhances your management and guest experience.
What is an online payment system?
A payment gateway is a technology used by businesses to accept debit or credit card purchases from customers. The term includes not only the physical card-reading devices found in traditional retail stores but also the payment processing portals found in online stores.
How does this look inside the hospitality industry? If a customer were to make a booking online either through an online travel agent (OTA), booking sites or your website, then this process including payment could be done online. This initial payment could hold the card on file and when they have checked in or out then the same card could be charged again online, this decreases the need for customer front desk interaction.
What Benefits does it bring hoteliers?
Increased convenience of online bookings
The ability to process online bookings with the use of a payment option has become vital to the accommodation industry. The ever-expanding online booking industry has created a positive problem for hotels. The need to keep up with demand from either direct or third-party booking agencies has been solved with the ability to hold and charge funds through an online process. The ability to charge a specific amount automatically at the time of booking without human interaction adds great value not only to the guest but hotelier simultaneously.
These online systems provide a secure and effective way for hoteliers to process online bookings and collect payments from guests. This also offers a range of convenient options for guests to make payments in whichever way suits their needs. If you haven’t implemented some form of online payment system into your property then this potentially is deterring tech-savvy customers from booking your rooms. With online bookings being an everyday occurrence this could be costing you hundreds of potential customers.
No more cash or need for in-person check-in
The ability to hold a card on file allows front desks to charge guests directly from their card. Meaning there is no longer the need for in-person payments, eliminating the need for cash and increasing fund security. No longer will there be the need to keep cash on the premises of your property. Online payments allow for a seamless check-in experience with a card already on file means no exchange of unnecessary extra guest details and the ability to seamlessly pay directly out of the card on file. This allows for a positive guest experience as they can just drop the keys off at the end of their stay into a drop box or at the front desk.
Reservation rate
The reservation rate is a payment made by guests in order to secure their room reservation. This money is then held by the hotel through the use of an online payment gateway. These held funds then can be used to pay for the booking. However, if the booking were to be cancelled these funds wouldn’t be refundable. This process is vital for a hotel as this guarantees some form of revenue for a room being booked, and covers potential losses in case of a cancelled booking.
Increased Fraud Protection
It is important to be able to guarantee secure online payment options for your guests. Allowing secure payments means customers are more inclined to put their cards online streamlining the payment process for all parties involved. Services such as PCI-DSS Compliance are dedicated to the safety of consumers. Services such as these show consumers that security is at the top of your priority list. This peace of mind from consumers is likely to improve the chances of them booking directly with you online helping build your connection with your guests.
Increased Revenue Opportunities
The use of online hotel payments can have a positive effect on your property’s bottom line. Research says those who pay with their phone and online are likely to spend twice as much as those who pay in person. Where does the value come from? The ability to link a POS system to your online payment system allows all features of your property to be charged online. The benefit of this is the increase in convenience for many consumers who would prefer one larger payment than several little payments on their cards.
Many guests are willing to pay a little extra for a service if this comes at a greater convenience for them. With the ability to keep a card on file, this would create another level of convenience that means a consumer may be more likely to return to your property. The power of convenience and reliability can persuade a guest in many ways and maybe a point of difference for you.
Summary
Don’t rest on your laurels, continue to improve and create value for your guests. An online payment solution is designed to both make your guest experience and your property improve. This solution creates convenience for your consumer improving their stay and likelihood of return. And this increases your revenue channels and ability to appeal to a new sector of consumers who are of increased tech abilities.
How GuestPoint can assist
Experience the Simplicity:
With GuestPoint Pay, making payments has never been smoother. Utilise the credit cards securely stored in our advanced vault system to enjoy swift and protected transactions, directly within your GuestPoint PMS room account.
Unrivalled Benefits:
Auto Reconciliation: Bid farewell to manual reconciliations! GuestPoint Pay streamlines the reconciliation process, saving you valuable time and ensuring accurate records.
Fast Net Settlement: Say hello to faster access to your funds. GuestPoint Pay accelerates net settlements, providing you with quicker access to your revenue.
Fraud Detection: Rest easy knowing that your transactions are guarded by top-tier fraud detection mechanisms. Your security is our utmost priority.
No Strings Attached:
Signing up for GuestPoint Pay is not only advantageous but also free! Experience the transformative power of streamlined payments without any initial setup costs.
Effortless Onboarding:
Our user-friendly registration process ensures a hassle-free setup. Once your details have been processed and approved within your Eway portal, you’ll be all set to go live with GuestPoint Pay in just two business days.
Embrace the Future of Payments:
GuestPoint Pay is not just another solution; it’s an innovative leap towards elevating your accommodation business. Experience the liberation from payment complexities and focus on what truly matters – delivering exceptional experiences to your guests.
Should you have any questions or need assistance during the onboarding process, please don’t hesitate to reach out to our dedicated implementation team: success@guestpoint.com
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