The global hotel and resort industry generates $864 billion in annual revenues from its over 700,000 hospitality businesses, according to a 2016 report by Ibis World. The industry is highly competitive with players vying for higher market shares and increased profits. Direct Pay Online (DPO), a leading payment service provider (PSP) in the travel and tourism industry, offers hotels a competitive edge in payment management, enabling them to offer multi-method, streamlined payment processes to their customers, while simultaneously providing a strong tool for improving their own efficiencies.
Multiple Payment Options for Hotel Guests Increases Conversion Rates
Hotels strive to convert website visitors into paying guests. Various factors influence this conversion, of which the confidence of the guest at the time of payment is key to success. With only a 2% conversion rate on hotel websites, hotel proprietors should focus on how to save a higher ration of website visitors.
As over 90% of hotel bookings today involve going online, a hotel’s website is its display window to potential guests, and the ease of booking that guests experience reflects on the level of service they can expect during their stay. DPO provides hotels with a state of the art payment platform, which can be seamlessly integrated into their online booking pages for a seamless, end-to-end booking experience for guests.
DPO’s Customer Connect platform is the ideal payment processing platform for hotels.
This real-time, cloud-based system, enables hotels to offer multiple transactions types, from offline phone booking payment support to mobile payment acceptance. Specifically, Customer Connect offers:
- mSwipe – DPO’s mobile payment system, which accepts credit card details using both pin-and-chip card reader, as well as mobile wallet payments. This module provides hotels with an mPOS (Mobile Point of Sale) solution for improved customer service.
- Online transactions – DPO’s fully integrated payment page enables guests to book and pay directly through the hotel website.
- Email transactions – guests can book offline and pay online, via a secure link sent to them via email for payment arrangement. As such, a guest can book the hotel from anywhere, using a phone, and then follow up with payment when he reaches a device with email access.
- Direct pay – DPO’s virtual terminal provides a system for manually accepting payments in person or over the phone.
Customer Connect supports various payment types and currencies, accepting all major credit and debit cards, mobile money payments, including cross-border payments. These various payment types and methods encourage customers to choose their preferred payment method, an advantage when building trust and loyalty with hotel guests.
DPO’s online payment systems are PCI DSS level 1 certified and comply with the leading credit card company security standards, so that hotels can offer their customers a completely safe and secure booking process. Customer Connect includes real-time monitoring and updated black lists, together with a scoring module and fraudulent patter detection to protect its customers against fraud.
An additional functionality is the integrated product catalogue, with which hotels can showcase their offerings. This, combined with the multiple payment methods and currencies and the secure DPO-powered booking site, offers the end-to-end experience travelers expect, which will lead to increased direct booking rates for hotels.
Comprehensive Solution for a Hotel’s Payment Needs
DPO’s online payment solution is an ideal business to business (B2B) payment management solution that allows hotels to efficiently keep track of all incoming and outgoing payments over a single, convenient platform. Powered by the xPay Network, DPO’s Business Connect supports cross-border payments and multiple currencies letting hotels transfer to and receive funds from their various suppliers and vendors.
The system offers high flexibility, such as splitting payments into multiple installments or to multiple suppliers. Hotels can similarly receive payments from their merchants, directly into their DPO account. A real-time payment confirmation is received at the time of transaction for improved command of ongoing finances and operation.
Additionally, DPO’s Business Connect improves hotels’ cash flow by offering Easy Settlement, its customer centric payment receipt module. With Easy Settlement hotels can opt for settlement receipt of payments accumulated in their merchant account, at their discretion.
With Easy Settlement, hotels can choose to receive these payments via bank transfer, pre-paid credit card, mobile money or directly to an e-wallet. It is even an option to split settlement between different payment mediums, providing hotels with complete control of their settlements and incoming payments.
DPO’s comprehensive payment processing platform supports all the hotel’s payment activities creating the ultimate solution for hotel finances and payment management, and a highly powerful tool for improving hotel operating efficiencies.