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The Importance of Real Time Payment Processing & Multiple Payment Options

December 20, 2010

‘In the online travel industry, a hotel’s reach is only as wide as its payment offerings.’

The internet may have transformed our world into a global village but this does not mean that the netizens have identical lifestyle patterns. People are still unique and netizens are no different. Some use hotmail to send emails while others use gmail. Some socialize via facebook the others via twitter. Similarly, some use credit cards to pay for products and services online while others use cash cards. The type of payment mode they use depends on their status and their ease with online transactions. To capture a sizable portion of the online travel mart successfully, you need to offer this diverse group a wide variety of payment options on your website. ResAvenue, the online hospitality solution can enable you to achieve this goal easily.

ResAvenue is a plug ‘n’ play online hospitality engine that is embedded with a variety of online tools to ease your many of your daily management and reservation tasks. You can use it to manage your distribution channels, track reservations, monitor profit margins, generate reports, and much more. It also has a robust payment processing engine with a wide variety of payment options such as credit cards, debit cards, net banking, cash cards and mobile payments. The sheer variety of payment options will ensure that you do not lose guests to the competition because you don’t have the right type of payment mode.

Here are some more reasons ‘why’ it is necessary to add a real time payment processing and multiple payment options to your hotel website:

Offer guests reservation ease and convenience
A hotel website without a real time reservation and payment processing solution is like a prettily packaged present without anything inside. Without a real time reservation and payment processing solution to close the reservation instantly online, you end up wasting the time, effort and money spent on attracting and directing potential guests to your website. By adding an online reservation solution to your hotel website, you can offer guests reservation convenience and increase your occupancy levels easily. 

Lack of payment options raises the number of abandoned registrations

Not every guest has a credit card. This is especially true if large portion of your guests are of Indians. India is a credit adverse country and only a small percentage of the population has a credit card. If you offer only credit cards as payment options on your website, you will find a large percentage of mid-process abandoned reservations. You can reduce the number of mid process abandonments and widen your market reach by offering a variety of payment options such as debit cards, net banking, cash cards etc.

Instant payments, no fraud concerns & no more chasing delegates for payments
‘No Shows’ are a plague that affects your revenue potential. By adding an online reservation to your hotel website, you can secure reservations with a real time payment and reduce the impact ‘No Shows’ have on your profit margins.

To summarize, a hotel website is incomplete without a real time payment processing solution and a wide range of payment options. Having a hotel website without a real time payment processing solution will prevent you from reaching out and capturing all types of guests – Asians, Europeans, American as well as guests from all types of backgrounds.

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