Choosing a payment provider

Most booking engines support a wide range of payment providers.

Payment providers are specifically set-up to deal with the financial transactions taking place via your online booking engine.

This is an extremely sensitive area and you should be very cautious when dealing with payment providers. Choose a reputable provider, supported by your booking engine. Do not just subscribe to any company, since it is very important they have all the necessary special licensing and approvals in place to operate in such a capacity. Contact Visa, Mastercard or your local bank to verify any payment provider’s credentials.

Payment Provider Checklist:

Check payment provider authenticity and credentials.

Payment provider must be fully compatible with your booking engine provider. Check on specific set up and implementation procedures. If your booking engine is familiar with the provider you have chosen, they may already be prepared for the implementation procedure. This means a smoother process for everyone concerned.

Beware of costs! Payment providers are likely to charge one-off set-up fees per property, plus ongoing fees per transaction depending on the credit card type.

Confirm your booking engine provider does not charge for the set-up procedure. If they have an existing API, then after the paperwork is done, it is a simple task of implementing the payment provider login credentials and activating the connection. Ideally, avoid unsupported payment providers, the technical issues are likely to be costly and time consuming.

Some of the benefits of working with a payment provider is that non-refundable reservations, as well as deposits, can be charged immediately. Such charges are credited to your hotel account the moment of charging. Cancellation policies should be kept in mind and deposit refunds honored.

Ability to edit charge policies on the fly. This means, you can maintain non-refundable and deposit charge conditions on your own.

Make sure your payment provider offers specific fraudulent transaction guarantees & protection.

Increases in secure websites using high grade encryption means more and more customers expect the efficiency of automatic payments, especially for securing travel products.

Invest the time and effort in partnering with a professional payment provider and the benefits of automatic payments are a win-win for everyone!

To your successful distribution,

Richard Bedenham

MyRatesMagic® Founder

Connect with Richard on Linkedin.