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Advanced payment solutions for online booking systems

Reservations

This post is also available in: ES

Innovation and technology are increasingly present in the hotel bookings industry, with the chief goal of improving the user experience and – of course – boosting reservations.

Just as electronic commerce has evolved and grown exponentially in recent years, technological tools have been developed that allow hotels to optimize their sales on online channels.

When a client conducts a search or makes a reservation, various technology providers are involved: OTAs, booking engines, channel managers, PMSs, metasearch engines and the payment gateway, among others.

Security, usability and integration for hotel bookings

 

The choice of payment gateway or virtual POS  is a key element for hotels or tourist establishments looking to boost their direct sales and to guarantee security throughout the payment cycle: before, during and after the client’s stay.

Throughout the process, optimal management of reservations, deposits and collections must be ensured. The hotel distribution, management and marketing system should be integrated with a solution that permits saving and processing card data all through the cycle, in constant compliance with the PCI security standard and with new PSD2 European payment regulations.

PAYCOMET offers the Proxy Hotel Reservation solution, specially designed to integrate the payment platform with any hotel distribution and management tool, based on the tokenization of card data.

What is tokenization?

 

Tokenization is an encryption process where card data is converted into tokens and stored in a secure vault, to be processed when necessary. 

The new PSD2 European payment regulations and the full application of an enhanced SCA authentication system (at the end of 2020) put the focus on security of user data. This is undoubtedly a great opportunity for hoteliers to update their systems, to integrate an advanced payment gateway, to reduce risks, and to increase productivity.

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