Why Online Payment Solution for Hotel is the Next Trend
Managing hotel these days can be really different if compared to ten years ago. The technology and modernization makes it mandatory for hotelier to adapt with it. Not only that distribution channel is now being more varied, hotel operation is also growing. If ten years ago you only need a cash register to manage the payment, it’s not relevant anymore for today’s hotel business. The dynamic changes on hotel business requires you to provide more channel to embrace the modern market. This phenomenon is clearly portrayed on how online payment solution for hotel is now an inseparable part from hotel business itself.
However, some hotels are still seeing online payment solution as an unimportant element for their business. Online payment solution is somehow seen as an expensive addition for hotel business. Even though most of the hoteliers are agree on its function, some are still doubting its importance for their hotel. If you’ve been seeing online payment solution for hotel as insignificant, here Caption gives you some reasons why it is essential for your business.
What is online payment solution for hotel?
Before understanding its importance, we need to understand first what is online payment solution itself. Online payment solution is an online service that provides a secure transmission of cards information, including a fraud checks and verification of customer’s available funds and also debits the required amount of costumer’s account. It works as the bridge between your business and the banking systems. In the process, your customer will not interact with this payment gateway. All of those information will be submitted through the secure payment gateway through the relevant financial networks to your merchant account. Then merchant account will authorize the card and receive the payment. The funds then will be stored here for short period of time before soon be transferred out to your business account.
Why do you need it?
More payment method means more potential customer
As we know, modern customers are comfortable on carrying card than cash. Especially when you’re traveling abroad, carrying your foreign cash might be dangerous for your safety as well. Aside from that, processing payment with card is way simpler and quicker. There’s no need to wait for the change; all you need is just swiping your card. And this is exactly what your potential market looks like.
Completing your property with online payment solution for hotel means more than just being fancy. When you have online payment solution on your front desk, you can surely embrace more potential customer out there. People that used to be reluctant to stay on your hotel can eventually be sure about your service. By providing complete payment options, you are also enhancing your bargaining power for these potential customers.
Read our article on ‘merchant account and payment gateway’ here.
Generate report easily
Generating report when managing hotel might sounds burdening. The big data volume that you need to handle makes it hard for some hotelier to generate one report. On the other side, report is essential when you are talking about managing a business. And here’s where online payment solution for hotel took its role to ease the burden on generating the report.
Digitalization is basically the key on this. Since everything is managed digitally, generating report will be very easy when you equip your hotel with a proper online payment solution for hotel. Most of online payment solutions out there are providing easy option for you to generate report by as simple as clicking a button. Everything is easy and you can customize the kind of report that you want to generate as well. Isn’t that a good news for your front desk officer?
Read our article on ‘hotel reservation system’ here.
More security for your foreign money
One of the factors that makes foreign traveler reluctant to stay in particular accommodation is the payment option. As we know, do a transaction with foreign cash is not the favorite option for most of foreign traveler. You have to check the currency rate then match it with your bill. But with online payment solution for hotel, this problem is solved because they provide wide range of currency as well.
When you accept payment from foreign currency, you need to make sure that you save it the right way as well. Not only that this is important to make sure that you can withdraw the money; you also need to make sure that you can withdraw it with the corresponding currency. Most of online payment solutions for hotel are letting you to keep your foreign balance and withdraw it when the currency rate suits your business calculation. And sure, that means more flexibility for you as well, right?
Easy payment means seamless check in and check out process
Payment solution is not merely about building a relevant business alone. Not only for the sake of business, equipping your property with proper online payment solution for hotel means more than that. For operational purpose, the right payment solution means the easier way to accept the payment itself. And when you can process the payment quicker, there will be more time available to do another thing, right?
As we know, check in and check out process is essential in every hotel operational. When this process can’t be done the right way, the whole operation will also being jammed. That’s why making this process can be run smooth and easy is important; not only to structure your business but also to create a good customer experience as well. Using the help of online payment solution for hotel, you can make it easier for guests to check in and check out since the payment is now easy and effortless.
Read our article on ‘enhancing guest experience’ here.
Technology has been an inseparable part of hotel industry. Adopting technology for hotel means so many things. You can make a website with a booking engine for your hotel; that’s technology. You can create smart app to control your hotel room; that’s technology. You can add online payment solution for hotel on your property; that’s technology as well. It means that technology can be so many things and there are so many ways to adapt technology for your hotel.
Competing in modern hotel industry means more than it was ten years ago. However, it doesn’t mean that you can’t compete at all. Adding some additional elements into your business is important to keep your hotel relevant to modern traveler. Matter of fact, it’s also a good investment as well for your business.