WORLDLINE
Providing an Omnichannel Payment Solution to Strengthen the Post-Pandemic Hospitality Industry
The hospitality and travel industry suffered considerably from the COVID-19 pandemic and with only 55 % occupancy rates for UK hotels , PwC reported the ‘ bleakest outlook since benchmarking began ’. Of course , as the vaccination roll-out continues , the demand for travel will pick up , however it is still likely that many vacations will remain ‘ staycations ’ because of many popular travel destinations being behind the UK in vaccination roll-out .
With the hospitality , travel and tourism economy being the fourth largest employer in the UK , it is unlikely that the sector will see a full economic recovery for up to four years . Some of the changes brought on by the pandemic may be permanent , with the long-term adoption of home working resulting in business travel being cut by as much as 20 %.
Furthermore , much of the industry have found that systems put in place as a necessity during the hight of the pandemic , such as app-based ordering and self-service kiosks in the restaurant industry , are being embraced by customers and saving businesses money . Therefore , the hospitality sector needs to be doing everything it can to streamline and drive efficiencies , and payments play a significant role in this . The very best systems do not just save travel and tourism companies processing fees for transactions , they enable more customers to pay securely and in the way that suits them .
Enhancing customer experiences
Now that tourism is returning , the sector is facing new challenges . It is already widely digitalised , with most bookings now completed online and digital check-ins via kiosks or mobile apps are available at many hotels . However , while technology to use these digital methods now widely exists , they are still not a standard operation within many hospitality outlets .
These digitalised payment methods will not only free up staff time but offer a much more hygienic service – being able to present hotels as safe from infection will be key in helping customers get over their reticence to travel . Similarly , the pandemic has driven the adoption of alternative payment methods ( APMs ) as contactless payments became more common . Being able to accept payments from eWallets is crucial in allowing tourists to pay for services in the way that they want .
The travel and hospitality industry could also become revolutionised by data . For example , an individual leaves hundreds of data points during their time in a hotel , and these can be utilised to make changes , large or small , that drive profits . Having a modern payments system in place will allow data to be linked from other sections of the business directly to the company ’ s bottom line .
An omnichannel solution to enhance customer experiences
Following the emerging consumer trends within the hospitality and travel industry that has emerged because of the pandemic , there is a clear need for merchants to create a new , omnichannel experience for their consumers .
Although it is impossible to know what the pandemic will change in the long run , one thing for certain is that everyday life is being more digitised and connected . Travel and hospitality have already taken great strides in this , and when faced with a difficult economic terrain for the next few years they should be building upon the structures that are already there , particularly around payments , to ensure that they keep up with the wave of digitisation sweeping other industries .
To learn more , visit : www . worldline . com / hospitality-suite
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