The payment habits of the future are changing. Generally speaking, digital payments are increasing while cash is declining.
The mobile wallets provide “big tech” ways to get into the payments space. Major travel companies such as Booking Holdings also have an increasing interest in providing payment solutions for their customers, to lower friction and increase revenue streams.
Alternate payment options such as buy-now/pay-later or account-to-account can offer customers alternatives to credit cards and may be an option for hoteliers looking to raise transaction volumes and value.
Hoteliers must understand how payments work and collaborate with processors to make these changes possible.
As demand rises, but consumers have changed their expectations about contactless technology, investors, vendors and hoteliers need to consider how to respond.
In our latest report The State of Hotel Payments 2021, we provide seven key trends which will impact and shape the payments landscape over the coming years. The report covers topics such as the fintech boom, the entry of hotel tech vendors into payments services, fraud prevention, tokenization and B2B payment space.
The Report: What you’ll learn
- The pandemic has accelerated digitization and is affecting consumer payments habits.
- This is the payment landscape for the hotel industry.
- The hotel industry’s implications of the fintech boom.
- What hotel technology vendors can expect to gain from a greater focus on payments
- What are the most recent security and fraud concerns? And what technology is lacking in this area.
- The B2B space is not able to take advantage of the B2C progress.
- The payment system is where there are opportunities to grow.
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Publiated at Wednesday, 01 Sep 2021 16:51:40 +0000