For all those in the hospitality industry, today has marked a major milestone in the reduction of their admin work. Payments by Booking.com has just been announced - a novel solution provided by Booking.com to all of its partners, by which Booking.com will now automatically process payments by guests for non-refundable bookings, thus removing the hassle of doing so from the hospitality provider.
What's more, Booking.com has just made selling through it a whole lot more attractive! Payments by Booking.com is completely free for all partners, and the only charge incurred will be that of processing the virtual Master credit card which Booking.com provide to their partner.
"You don't need to change anything in the way you work - for non-refundable bookings you simply receive a Booking.com virtual credit card that you can charge immediately instead of the guest's credit card details."
In addition to the above benefits, Payments by Booking.com means that the hospitality providers will "always receive the payment with the booking confirmation and can keep it even if the guest cancels" for all non-refundable bookings. It also removes the hassle of having to follow up with incorrect card details, as Payments by Booking.com states that:
"You don't need to verify payment details or worry about invalid credit cards - we do all this for you."
While facilitating the work for hospitality providers, Payments by Booking.com has left Booking.com's commission policy unchanged. This comes as a great bonus, as unlike many other portals, it means that the partners don't need to pay Booking.com their commission on bookings until the end of the month, which helps to improve cash flow. It looks like Booking.com is set to grow at an even faster rate in 2016 than it did in 2015!
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