A modernized payment strategy helps hoteliers deliver a superior guest experience, improve operational efficiency, control costs, and mitigate risk of a cybercrime. In short, hoteliers enhance their resilience in a competitive and challenging industry by implementing an optimized payment process.
U.S. Bank recently released a Payment Strategy Report, Build Resilience With a Strong Payments Strategy, its second annual survey of 250 finance professionals that reveals the importance of a forward-thinking payments strategy and highlights the best practices of “Payment Leaders.” Comprising just 28 percent of survey participants, these leaders have invested in advanced, innovative payment strategies that can serve as a model to other organizations.
These strategies adapt to the evolution in consumer payment preferences, which is essential according to 72 percent of finance leaders surveyed. In the lodging industry, guests are looking for a payment process that is flexible and seamless, and offering that technology ultimately promotes brand loyalty. Payment Leaders’ processes also adapt to the changing data security environment. For the lodging industry, the report finds that data security and fraud management are the main drivers of transformation in payment operations, as a means of protection against the rising costs of cybercrime.
To learn about key trends in payment operations and how to reproduce the success of Payment Leaders, click here to download U.S. Bank’s report.
