Payment processing for the hotel industry has become increasingly complex with the advance of technology and rising demand from customers in today’s digital world.
HEDNA, the Hotel Electronic Distribution Network Association, has released its newest white paper – Payment Trends and Future Best Practices in the Hotel Sector – a work product of HEDNA’s Global Hospitality Payment Working Group, co-chaired by Mike Carlo (Onyx CenterSource) and Pascal Burg (Edgar, Dunn & Company).
“The primary intent for the Working Group and the payment trends and future best practices white paper is to review the payment process and infrastructure existing today, compare and learn from other industries and to identify a vision of where hotels can and should be in the near term,” explains Carlo, co-chair of the working group.
- Payment strategies will become guest-centric and move away from legacy property-based payment offerings.
- Conventional wisdoms need to be revisited. Prepaid does not necessarily equal discounted (e.g. first class plane tickets).
- Payment processing for cross border guests can move from a cost-centre to a profit centre with consideration of FX conversion and Alternate Forms of Payment.
- Payments from third parties and brands will be far more efficient with an industry recommended integrated payment manager technology solution.
- Commission payments will function increasingly efficiently and transparently over the coming years.