By Kevin Goddard
Introducing Cloudbeds Payments
Hotel payment processing has been complicated for too long. Independent hoteliers and hosts have had to manage confusing rates, complicated payment statements, frustrating disputes, and unreliable customer support.
Whether it’s pivoting business models, adhering to new regulations, or responding to changing guest expectations of safety and convenience, hoteliers and hosts need technology that helps them adapt quickly.
To illustrate, the 2020 health pandemic had an enormous impact on consumer spending habits. According to Mastercard, 79% of consumers worldwide* are now using contactless payment processing, creating the need for properties to keep up with guest behavior. Providing booking confidence has become more important than ever, and guests are looking to book with properties that offer secure and flexible payment options, both online and card present.
At Cloudbeds, a large part of improving our product involves listening to our customers. Throughout the years we’ve received an overwhelming amount of feedback from properties all across the world about their frustrations with large payment gateway providers.
After months of research and conversations with some of the largest players in the payments industry, we decided it was time to make hotel payment processing easier for all.
Cloudbeds assembled a formidable team of payment experts and gave them a challenge: make hospitality payment processing simple.
Today, we’re proud to announce that our team has achieved its goal with the launch of Cloudbeds Payments.
Hotel Payments Made SIMPLE
Seamless integration – all your payment data in one place
Cloudbeds Payments is built to integrate seamlessly with our full hospitality management suite which means all your payment information resides within one system – streamlining operations, reducing mistakes, and helping keep revenue up and costs down.
You can say goodbye to manually entering credit card information, thereby practically eliminating human error and cutting hours of time spent reconciling numbers – not to mention minimizing the time guests have to spend waiting at the front desk.
Cloudbeds Payments has embedded processing reports within Cloudbeds. You can easily run one report that will give totals on sales, processing fees, and deposits. This saves on average 10 hours per month.
Modern terminals for safe, flexible, and cost-effective payments
Our state-of-the-art hotel payment processing terminals are able to accept safe and secure payments from guests and reduce your liability through card-present transactions, saving you both time and money. Reading cards via the terminal significantly reduces the risk of disputes as liability generally shifts to the card-issuing bank when a chip on the card is read.
Aside from offering guests contactless and flexible payment options such as Apple Pay and Google Pay, you can also rest assured that guest payments are securely stored, fraud protected, and SCA, PSD2, and 3DS compliant. Plus, with our terminal, you can process any transaction through the Cloudbeds system with one touch!
In-house team for support and dispute management
Though having an integrated terminal for card-present transactions cuts down risk – disputes happen. We’ve hired an expert team of in-house payment specialists to help support you and offer dispute management so you can focus on running your business.
Third-party payment providers generally do not have a close relationship with properties the way Cloudbeds does. This leads to underwriting and payout decisions that are based on a one size fits all approach. In contrast, we at Cloudbeds understand that each property has its own unique needs. We have built out our risk, unwriting, and payout policies tailored to the hospitality industry and travel guest behavior.
Additionally, Cloudbeds Payments is fully supported by our own in-house Merchant Support team, you will not deal with 3rd party Customer Support teams that do not have insight or visibility into your PMS.
The Benefits of Choosing Cloudbeds Payments
We’ve realized that although hotels pay the fees for processing credit cards, they’re often neglected and not well represented in the payments equation. The entire payments ecosystem is tilted in favor of the card brands and the banks. We intend to change the landscape for our customers by enabling them to hold a stronger position in the payment processing equation.
Here are just a few of the great benefits you can expect with Cloudbeds Payments:
When paired together with Cloudbeds’ award-winning hospitality management suite, independent properties worldwide have all the tools needed to meet the demands of today’s ever-changing guest expectations, as well as cater to the traveler of the future.
As technology and guest expectations evolve, we’re committed to enhancing and adapting Cloudbeds Payments to meet your needs and those of your guests. Cloudbeds Payments is currently available in the USA, Canada, Europe, and the UK with many more regions to follow.
This is just the start of the next generation of payment processing for independent hoteliers and hosts around the world. Hundreds of Cloudbeds customers have already begun using Cloudbeds Payments at their property – set up only takes a few minutes!
*Source: Mastercard Newsroom