Fighting fraud is an ongoing battle in the hospitality sector. Recent industry alerts have highlighted a concerning uptick in card fraud and chargebacks created by fraudsters piggybacking on online booking platforms and travel agencies (OTAs). This poses risks to hotels' revenue, reputation, and customer confidence.
How can hotels fortify their fraud prevention strategies?
If your hotel operates on the ORACLE OPERA Cloud or OPERA 5 property management system, integrating Prommt's payment request solution is now an option. This enables your system to automatically send a payment request to cards associated with OTA bookings, based on agent and rate codes, empowering you to stop fraud in its tracks.
Reservation staff can also manually send payment requests for any direct bookings, all from within the PMS. The system will then update the payment status once it has been processed by the hotel’s payment gateway.
Even as a standalone solution, Prommt Payment Requests are perfect for reducing chargebacks and fraud, as well as instantly collecting payments for advance bookings, outstanding balances and guest payments for events, resort memberships etc. One of our clients, a busy London hotel, was able to reduce their chargebacks by over 60% within just two months of using our card-based solution. As they now begin to implement Pay by Bank (open banking payments) capability, these chargebacks will reduce even further.
Open banking is a game-changer for the hospitality industry, as it is estimated to reduce transactional fraud by up to 61% by 2024. Open Banking payments use advanced encryption and real-time authentication methods to protect sensitive guest data, such as bank account details and personal information, from cyber-attacks.
Studies highlight that approximately 70% of guests would feel comfortable paying for their hotel room through open banking. Guests are redirected to their mobile banking app for biometric authentication after confirming a purchase, and enjoy greater control over how their financial data is used and who can access it. There is no built-in chargeback mechanism – guests cannot dispute open banking payments, as it is the open banking payment provider that executes the bank transfer on the guest’s request. Pay by Bank can help hotels protect margins and radically enhance the security of their remote payments ecosystem by eliminating high card transaction fees and costly chargebacks.
Why Prommt?
Prommt is trusted by some of the world’s most luxurious hotels including The Doyle Collection, Hilton, InterContinental, The Westin, Powerscourt Hotel Resort & Spa, Ballyfin Demesne, Adare Manor and many more. Prommt’s solution is packed with unique features that innovate guest payments across all areas of hospitality - reservations, meetings and events, food and beverage and spa - making the remote buying experience more secure, efficient and effective for hotel management.
Security by Design: Prommt is PCI-Level 1 certified. Payments made through Pay by Bank are conducted using PSD2/open banking protocols, and protected by industry-standard banking security. The platform is already integrated to most of the world’s leading Payment Gateways and hospitality PMS's.
Recurring Payments: Easily set up recurring payments for memberships and events.
Autocharge: Autocharge is a more secure and convenient solution for stored card payments. This feature enables hotels to charge extras such as room service, spa treatments, and any other items to your guests’ card while eliminating the risk of compromising sensitive card data and helping to minimise chargeback risks. It provides greater certainty over event deposits and final balances.
Seamless Guest Payment Experience: Bring the checkout to wherever is convenient for your guests with merchant-branded and customisable payment links sent via SMS, email or web chat. Prommt empowers guests to feel in control of their experience with the option to Pay by Card or Bank. Prommt’s Forward to Payer feature allows guests to easily forward payment requests to their accounts department or whoever is responsible for completing payment.
Built for Teams: With advanced reporting, alerting, location and user segregation and permissions, all managed from a single interface. Prommt is highly suitable for hotels with multiple properties. View and filter all information on remote payments with a real-time dashboard.
Proactively fight card fraud and chargebacks from OTAs and bring greater security to your remote payment processes. Get in touch with the Prommt team to learn more. BOOK AN INTRO