While working in hospitality, one question that you might have encountered is, “Do you accept cards or any other payment option”? If your answer was No, you surely missed out on an opportunity.
No matter how big and well renowned your hotel chain is, if you are stuck with the outdated payment system, there is no chance that you will see any future growth. Therefore, hotel chains need to reconsider their transaction process to keep moving on the stairs to success.
Many new types of payment options have started to take over the usual old methods. You can witness e-wallets, net banking, debit cards, credit cards, and many more payment options taking over the old ones. In addition, recently a new type of transaction method called crypto-to-crypto payment came into being. In this method crypto currencies are used as a medium to pay for the stay at the hotel. In fact, there are a few booking websites and hotels that offer to pay for hotel stay using crypto currency.
In the future, your customers might see themselves enjoying their stay at a big casino hotel like the Wynn in Las Vegas and paying with a huge variety of different online payment methods. While crypto casino hotels might be a thing of the future, you can still make use of many different payment options for online casinos.
Some people do not prefer visiting casino bars or rooms. So, they can try their hands on online casino games. There are various popular online casino websites where one can play using cryptos. But for playing online casino games a question regarding the best method for fund transfer will definitely cross people’s mind. For this one can check out payonlinecasinos.com website, go through the reviews for the best fund transfer method, and then choose one that suits them.
Although these days PayPal is one of the top methods for online payment, you can still go through this site and learn more about several other ways too. Now, without much further, let’s continue with the topic and see what the past and present payments methods of hotels are:
Many paying methods are used in the hotel business to make it easy for everyone to send and receive money. Still, there are few places where you will find people using the old payment method. So, let’s discuss what they are:
- Cash: The number one is cash. It is one of the easiest methods of payment. The only issue with paying by cash is that nobody carries it these days. As there is a huge amount of transaction, it becomes hectic for a person to carry it around. There is also the risk of cash getting stolen or lost.
- Personal Cheque: Although used rarely, the personal cheque is only accepted when a person is either a regular or well known to the hotel. This is because most people are scared that what if the cheque does not go through.
- Travelers Cheque: Now, not much in use these days; a traveller’s cheque is a means through which travellers who used to travel to foreign lands used to get a fixed denomination note that used to be issued by non-banking financial institutions. It was made to help travellers when traveling to foreign lands.
These were some of the old ways people used to pay in hotels. But nowadays people have moved to some new forms of payments. People find it easy to use online mediums for making payments as they are easy and less hectic than all the other ones.
Let’s look at some of the new methods that one can use for making online payments.
- Credit Cards: Issued by banks, one can use them to clear out all your payments from the hotel and pay the amount afterward. Yes, the money does not get deducted just as when one swipes it. Instead, it is a post-paid option where you pay afterward. Users of credit cards usually have to pay a certain amount of interest rate while clearing out the payment.
- Debit Cards: Unlike Credit cards, where one must pay afterward in Debit cards, the money kept in the bank is used while making transactions. When one swipe up your debit card, the money gets deducted straight from your bank account and goes into the receiver’s account (i.e., the hotel over here).
- E-wallets or Mobiles:
Earlier, with the help of mobiles, one could talk to anybody who lived in far fetch areas. But these days, apart from calling and having conversations, a person can send and receive money all with the help of cell phone. First, one need to download an app through which money can be sent or received, and then the transaction is made. There are various e-wallet apps to receive and send money online like:
Apple Pay
Paytm
PayPal
Phone Pe, etc.
- A centralized Reservation System (CRS):
These days, almost all the hotels own a (CRS) Centralized Reservation System specifically designed for their hotel chain. With the help of this, your guests would never have to face any failed payment troubles.
- Crypto Payment:
The other method of payment that your clients can use for accepting and paying currencies is crypto payment. People can pay using cryptocurrencies for making payments. This method is quite new and will take time to cover all the industries under it.
Now that you know what the different payment options that you can introduce to your casino hotels are, let’s see what benefits you will gain after introducing this new method:
- It is a secure method:
Online payment is the safest method to pay anyone. All the online payment solutions discussed above take an extra step to save their users from any fraud. In addition, there are payment gateways that make sure that your money is safe from attackers.
- Sales will increase:
There will be an automatic rise in sales when you implement online payment methods in your hotel. These days people most often use online payment solutions for paying money. Therefore, people would prefer to go to a hotel where online payments are accepted.
- Seamless Service:
With an online payment option, you not only provide your guests with an easy payment option. It will also leave a permanent impression on them. They would recommend your hotel to their friends and family and might also prefer paying a visit again.
- Link with PMS(Property Management System):
The online payment systems are integrated with PMS (Property Management System ), with the help of which all your customers can directly book a room at your hotel. This increases the direct booking count and hence helps you earn more.
Conclusion:
As the world is moving forward with all types of new payment methods hospitality industry too should try to revamp its transaction options. With cryptos slowly and steadily coming into light as the medium of transaction, big hotel chains shouldn’t shy away from starting to adopt it as one of the payment options. This will help them beat their competitors and gain a name for themselves.
