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Friction to Flow – Payment Innovations in Hospitality 

  • Florencia Cueto Pedrotti
  • 30 October 2024
  • 4 minute read
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This article was written by Shiji Insights. Click here to read the original article

The payment process is an often overlooked element crucial to guest satisfaction. I had the pleasure of hosting Dafna Martín, Senior Sales Manager at Adyen, to discuss the intricacies of payments in the hospitality sector. Together, we shed light on the importance of payment technology, evolving consumer expectations, and how hoteliers can leverage these insights to enhance the guest experience. Following is a summary of our discussion in Spanish, highlighting key takeaways for hoteliers looking to stay ahead in a rapidly changing landscape.

Takeaways

Frictionless payments are key to guest satisfaction.
The payment process should be seamless, using technology to simplify and speed up transactions.

Adaptation to local payment preferences.
Hotels must accept local and alternative payment methods like Bizum or Ideal to satisfy guests and boost conversions.

Integrated data enables personalised guest experiences.
Using payment and guest data allows hotels to tailor experiences, focusing on individual preferences.

Dynamic currency conversion for transparency.
Offering payment in the guest’s home currency through Dynamic Currency Conversion increases transparency and trust.

Security and fraud management are crucial.
Effective fraud tools reduce issues, minimise manual work, and enhance guest satisfaction by reducing payment friction.

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The critical role of payments in hospitality

Payments are a key part of the guest experience. While payments might not be glamorous, they are indispensable. Guests need a smooth payment process to fully enjoy their stay. Dafna explained that payment technology has become more sophisticated—it’s now a vital component of the customer experience, not just a way to process transactions.

The Worldpay Global Payments Report 2023 discusses the shift toward local and alternative payment methods, accounting for 49% of global e-commerce transactions over traditional credit card usage. This trend emphasises the growing need for localised payment options in international transactions.

Reducing friction in payments

Guests want a simple, fast, and invisible payment process. They do not want to waste time on payment issues. The aim is to make the payment journey as smooth as possible, regardless of where or how guests pay. This approach is crucial in the hospitality sector, where speed and convenience ensure a positive guest experience.

The rise of alternative payment methods

Alternative payment methods are becoming more important, and international travellers expect to use their local payment methods. Methods like Bizum in Spain or Ideal in the Netherlands are often more secure and convenient than traditional credit cards. Adapting to local preferences is not just a matter of convenience; it can be the deciding factor between making or losing a sale.

“Payments are no longer just a transactional necessity in the hospitality industry—they have evolved into a strategic tool for improving guest satisfaction, increasing conversion rates, and building loyalty.”

Dafna Martín

Leveraging payment data for personalisation

Hoteliers can use payment data to personalise the guest experience. A hotel that used integrated data to improve guest experience realised that their loyal guests preferred fruit-based drinks instead of champagne. By using integrated systems to understand guest preferences better, they were able to provide a more personalised experience. This type of personalisation goes beyond categorising guests by segments—it’s about truly understanding each individual.

Transparency with Dynamic Currency Conversion

Dynamic Currency Conversion (DCC) plays a vital role in enhancing transparency for guests, especially during international events. DCC allows guests to pay in their home currency, providing clarity by showing the exact conversion rate at the time of purchase. This feature helps guests better understand their spending and comfortably manage their budgets, making it particularly relevant for large international gatherings like the Olympics.

Real-world examples of payment innovations

We explored the innovative ways hotels are adopting payment technology, with a particular focus on CitizenM. This brand is doing a remarkable job of reducing friction in the guest experience through self-service technology. By implementing integrated systems that pull guest data from the PMS, CitizenM enables quick and seamless check-ins, eliminating lengthy paperwork and long queues. Their commitment to challenging the traditional hospitality model and driving innovation is commendable, setting a solid example for the industry in enhancing guest satisfaction.

Dafna Martín and Florencia Cueto PedrottiDafna Martín and Florencia Cueto Pedrotti
Dafna Martín and Florencia Cueto Pedrotti

Tokenised payments in spa environments

QC Terme, a hotel and spa brand, has implemented tokenised wristbands for payments. Guests do not need wallets or cash, which is particularly beneficial in spa environments. Guests are often in wet areas and prefer a hassle-free experience. This innovation helps create a relaxed and enjoyable atmosphere.

Combining technology with a personal touch

Belmond combines technology with a human touch. They use tablets at the reception desk to facilitate check-ins while ensuring staff are present to provide a personalised welcome. This approach shows that technology can improve efficiency while maintaining the warmth and personal connection guests value.

The benefits of automated check-outs

We also discussed automated check-outs, how these allow guests to leave the hotel without visiting the front desk and be charged after leaving. The hotel already has all the necessary information about the guest’s stay, including any charges incurred. Automated check-outs can help reduce front desk traffic, ensure the check-out process is efficient, and improve the overall guest experience.

Addressing security and fraud in payments

Security is a significant concern for hoteliers and guests. Dafna explained that hoteliers often struggle with fraud and chargebacks, which can cause friction between the hotel and the guest. Juniper Research’s findings indicate that using fraud management tools can substantially reduce hotel-related fraud by up to 42%. With effective fraud management tools, hoteliers can minimise these problems. The platform Dafna’s company provides helps hotels manage fraud, track disputes, and ensure they do not miss defendable cases. This helps to minimise financial losses and improve efficiency. The platform uses sophisticated fraud detection methods to identify potentially fraudulent activities.

Adapting technology to brand identity

Technology can be adapted to different environments to optimise human touchpoints and operational efficiency. The beauty of technology lies in its flexibility. For example, CitizenM focuses on speed, while Belmond uses technology to enhance personal touch. The key is to adapt technology to fit the brand’s identity and meet guest needs.

Conclusion

Payments are more than just transactions. They are an integral part of the guest experience that can enhance satisfaction, increase conversion, and build loyalty. Hoteliers must focus on creating frictionless payment processes, adapting to local preferences, using data for personalisation, and maintaining robust security measures. 

Watch the full episode here: (In Spanish)

[embedded content]

Adyen is a Partner of Shiji

Please click here to access the full original article.

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