Payment methods: A top-of-the-line payment processor will enable guests to pay via their payment method of choice, from credit and debit cards to mobile payments (like Apple Pay) and buy now, pay later programs.
Foreign currency acceptance: Better serve your international guests by allowing them to pay in their own currency, which can help you boost direct bookings and help your guest avoid costly foreign transaction fees.
Authorizations and holds: Payments software can give you the capability to place a hold on a guest’s payment method, like for a security deposit for incidentals, without actually collecting the funds.
Reconciliation and payouts: Reconcile charges, compile financial reporting, and manage payout accounts and preferences in your payments software’s dashboard.
Anti-fraud measures: Limit the potential for fraudulent payments with payments software that actively works to identify and stop fraud.
Data security: Guests’ payment details and personal information is sensitive data and must be kept secure, so you’ll want to choose payments software that offers cutting-edge encryption technology.
Compliance: It’s important that your payments software meets the standard for PCI, SOC2, or other compliance or licensing regulations.
Automation: Turn tasks typically handled by night audit into automated processes by setting schedules for tasks like authorizing a card after a booking is made or releasing an incidental hold after checkout.
User accounts: Protect your sensitive financial data by limiting user access to only those who need it; set up view-only or limited accounts for users who don’t need full access.
Reporting: Review reports within your payments system or export it to your BI tool to better understand your cash flow and payment processing fees.
Integrations: Get the most out of your payments software by connecting it to other hotel software, such as your point-of-sale system or property management system.