What Should Your Global Payment Solution Look Like?
Instead of relying on traditional, paper-based invoicing and outdated payment methods, it is wise to seek out improvement and modernization of your payment offerings.
Look for a comprehensive payment solution that integrates with existing systems and processes, saves money, and ultimately creates a seamless guest experience. In particular, seek out the following features:
Ability to collect currencies worldwide
Ability to offer payers multiple familiar payment methods
Payment tracking, automation and other administrative and reporting tools
A secure and compliant platform
An invoicing system or payment request function that lets you collect in multiple currencies and easily accept, track, and reconcile incoming payments
Ability to integrate with back-office systems like finance and accounting tools, ERPs, booking platforms, and other relevant systems
Dedicated spport to assist both sides of the transaction through any questions or concerns
Competitive rates to avoid overpaying on transactions
With the rise of financial technology companies focused on creating cost-effective and technology-driven payment options, there are several potential partners to consider. At Flywire, we believe it is a worthwhile exercise for accommodations providers to consider these partners, as it has proved to be a simple way to provide significant cost-savings for all parties involved and helps the luxury travel industry's continued effort to modernize technological systems and processes.
We highly recommend mobilizing members of your technology and IT teams to do due diligence and understand the value these payment companies can provide for the hospitality sector and their customers worldwide.