An Expedia study has called 2023 the year of “no-normal travel,” a year of travel unlike any other In other words, people are adjusting their priorities and social values in the aftermath of COVID-19. Now more than ever, it is crucial for businesses in this sector to identify the correct tourists’ expectations for a vacation.
And a key facet of these changes remains the travel payment experience, which has transformed drastically due to technological advancements, evolving customer behaviour, and the need for safer and more efficient transaction methods.
An easy, secure, and flexible payment process can now greatly enhance customer satisfaction, leading to higher booking rates and increased loyalty. On the other hand, a poor payment experience can be a major deterrent, leading to cart abandonment and lost sales.
This article will dive into the benefits of using analytics in the hospitality industry and give you essential advice on how to enhance the customer experience with personalisation.
How data analytics can improve the customer journey
In the era of big data, leveraging data analytics allows businesses to understand customer preferences, behaviours, and feedback and use this information to personalise and improve their payment experience.
Through data analysis, travel businesses can offer dynamic pricing and currency conversion based on the customer’s location and device. Data can indicate where a customer is browsing from and which device they are using, allowing businesses to offer prices in the local currency and format the payment page to best suit the device being used. This can significantly enhance the customer’s payment experience, making it more seamless and personalised.
Using hospitality data analytics, businesses can identify the most popular payment methods among different customer segments. This information can help them to provide multiple payment options that suit their customer’s needs and preferences. For example, younger demographics may prefer digital wallets, while older customers may lean towards traditional credit card payments.
Personalised offers and promotions are another area where data analytics can make a substantial difference. By analysing a customer’s booking history and loyalty status, businesses can send tailored promotions and discounts. This not only enhances the payment experience by making it feel more personalised but also boosts customer loyalty and retention.
Personalised offers and promotions are another area where data analytics can make a substantial difference. By analysing a customer’s booking history and loyalty status, businesses can send tailored promotions and discounts. This not only enhances the payment experience by making it feel more personalised but also boosts customer loyalty and retention.
How to enhance the booking experience with Trust Payments
Trust Payments offers a full end-to-end payments solution that can significantly enhance the booking experience for travel businesses, ensuring
secure, speedy collection of guest payments such as booking fees, flight tickets and accommodation deposits.
To ensure adherence to global payment regulations, international businesses must establish a robust compliance framework, with a particular focus on the following points:
Fast and familiar payment methods
When your customers reach the checkout, we have got you covered with payment methods that they know and trust: Visa, Mastercard, American Express, Apple and Google Pay, as well as local payment options like giropay, Multibanco, sofort and more.
Multi-language payment pages and multi-currency payment solutions
We cater for your international clients with translated payment pages and Dynamic Currency Conversion so your customers can pay in their preferred currency.
Fraud prevention
We utilise advanced machine learning and behavioural biometrics to effectively detect and prevent fraudulent transactions. This not only reduces chargebacks but also increases customer trust by providing a secure booking experience.
Easy integrations
Our smart payments solution seamlessly integrates with popular travel platforms and software like Expedia, Booking.com, and Sabre. This enables fast and efficient payments across multiple channels and devices, enhancing the overall booking experience.
Hassle-free hospitality
If you run a HORECA business, you know delighting your guests is your number one priority. Leaving a lasting impression with a smooth and secure payment experience is essential, so guests can relax and enjoy their time with you. Our POS terminals are versatile and offer payment by card to mobile POS solutions, flexible contracts and dedicated 24/7 support.
Trust Payments’ solutions are designed with the travel industry in mind, catering to this sector’s unique requirements and challenges.
We can assist travel businesses in improving their booking experience, from offering flexible payment options to securing transactions through advanced fraud prevention techniques and streamlining operations with seamless integrations.
Learn how we can help optimise your payment process and leverage data analytics to deliver an unmatched booking experience for your customers!
