6 reasons why the future of payment in the travel industry is mobile
Name two things that you have to take with you when you leave your house. Without having talked to you personally, I can guarantee that your answer will most likely include the word ‘smartphone’.
Name two things that you have to take with you when you leave your house. Without having talked to you personally, I can guarantee that your answer will most likely include the word ‘smartphone’. In fact, you might be on your way home right now, using a smartphone to read this post. The second guess includes the word ‘wallet’. In the future, you may be able to at least leave the latter at home.
Travelers are getting increasingly reliant on mobile technology, so mobile payment is only a natural step for them. In some places, a few of us are already using our phones to pay, instead of the traditional bills and coins. Since the implementation is rather inexpensive and requires little knowledge of technology, the number of hotels and restaurants which accept cashless payment is increasing rapidly.
Are you a hotelier or a business traveler and want to know how mobile payment can benefit you? Then, continue reading, we will get there in a minute.
What types of mobile payment methods exist and how do they work?
NFC is a form of contactless payment which enables two electronic devices to exchange information and has become known thanks to Apple or Android Pay. These are apps that give users the ability to store their credit/debit card information in the app. You just have to hold your phone close to the payment system and you are good to go. You might have already seen the “contactless payment” sign at your local supermarket, coffee shop or taxi.
Paying through an app or web app
Due to Uber or mytaxi, mobile payment has become very common in the travel industry as they have reshaped the way we use transportation combined with convenience. Compared to other industries, the hotel industry is still quite behind and needs time to adapt, however, travel tech firms like conichi have already implemented it, which allows you to pay your hotel stays on your phone.
You have probably seen these black and white squares on most of the packages or posters. Everyone knows that marketers use QR codes to link customers to a website but not all know that QR codes can be used to pay too. Card details are stored in an app and you can simply pay by scanning the QR code.
Now, let me tell you some examples of how mobile payment can surely help you!
Benefits for Guest
Time is money
How many times have you experienced that same situation? You are endlessly queuing at the front desk, waiting to check out. It is a nightmare for every business traveler who does not have much time because everybody knows: “Time is money”. Services, such as conichi’s, allow you to store your credit card information in a profile. Through this, you could check-out and pay wherever you are. You are in a hurry and your taxi is already waiting for you in front of the hotel? With this form of mobile payment, you could pay directly from the taxi!
Keep your money safe
By using mobile payment, you do not have to worry about having not enough cash and the risk of theft when bringing your money wherever you go. It is more secure than carrying cash or credit cards. The PCI Security Standards Council is an independent security organization which ensures a secure way to protect the card information, implement strong access control measures and maintain an information security policy of our conichi app users. It is constantly working on improving their security standards and monitoring possible threats by training security professionals.
When was your last time you were standing at the front desk looking for notes and coins in your pockets or finding the right credit card for the booking? It is tiring, isn’t it?
By paying with your phone, you do not have to struggle to collect enough money anymore. With just a few clicks, you can seamlessly purchase products and services without handing over any cash or taking out your credit card. As the processes are less complicated, you will undergo a better and more relaxed travel experience.
Benefits for hotels
Some hotels might be wary about mobile payment but it is actually helping to drive sales and strengthen customer loyalty. Therefore hoteliers should strongly reconsider their decision of implementing mobile payment in their daily process to not miss out on important financial benefits.
Know your guest
As customer preferences are constantly changing, it is difficult for businesses to gain insight into them. Hotels spend tons of money trying to understand their guests. A major benefit when using mobile payment for is the data, which is stored securely and enables them to adjust their services to customer needs and therefore drive more sales. Guests, on the other hand, will experience a more personalized service.
The age of business travelers is decreasing. This generation’s young travelers expect more than just a simple hotel stay. The customer is expecting more. Technology is changing fast. Everything in our society is growing and going rapidly. Nobody wants to wait anymore. To stay on top of the game, companies need to adapt to the continually evolving technology that affects how businesses operate as well as how customers are buying products and services
Optimize your processes
You have all been there before. It is peak hour and the queue at the front desk doesn’t get shorter. Services such as conichi Smarthotel services allow guests to store their payment details in their profile who can then process the payment and check-out themselves, without your front desk staff having to do anything. Invoices can be easily sent to your customer via E-Mail after they have checked out. And your hotel staff will have more time to take care of your guests.
Mobile Payment makes life easier for both the traveler and the hotel.
An Accenture study has shown, mobile payment will soon become commonplace and carrying your wallet will not be necessary at all.
What do you think about the new way to pay? Do you think you can leave your wallet at home? Let us know!