Skift Take
Hotels require to be where the customers are. Offering digital and alternative payment options is key to taking advantage of existing trends, and this indicates dealing with fintech players that have the ability to use these services by integrating into hotel tech systems.
Wouter Geerts
The payments sector is normally epitomized as an “enabler” of operating. But while credit cards still rule the world in regards to volumes of deals, the entire payment landscape and the tech included has actually ended up being a lot more intricate. The digitization of payments has significant effects in terms of payment routines and fraud management, and hoteliers will need to inform themselves about the chances and pitfalls of these shifts.
In our recent report The State of Hotel Payments 2021, we set out how payment routines are altering, provide an introduction of the payment community associated to the hotel industry with the crucial players and tech suppliers, and go over a variety of trends which will form the industry moving on. Below is a brief excerpt from this report, unique to our Skift Pro customers.
The Pandemic Pushes Modernization of Payments Infrastructure
Fast changes in the payment landscape spare no industry, and the existing COVID pandemic has supplied an included increase to hoteliers’ determination to alter their operations and systems.
The understanding and approval (or even expectation) from consumers for new innovations in the hotel market has actually grown substantially over the past year. In 2020 and 2021, Skift and Oracle Hospitality carried out two surveys which determined customers’ expectation of technologies present in hotels. All tech had a higher rate of expectation from customers in 2021 than in 2020, consisting of self-service check-in, mobile secrets, and contactless payment alternatives, with the latter up 15 portion points.
Expectations of Modified Hotel Experiences Post-COVID Expectation20202021Increased frequency of cleansing and decontaminating procedures60% 66% Guest areas/public areas arranged for social distancing39% 60% Contactless payment (no physical handling of credit automobile