Payment processing is a key part in the management of any hotel, and being able to offer multiple payment options to guests is important for improving the guest experience and driving direct bookings. However, despite these clear benefits, payment processing can be daunting to a lot of business owners as they try to navigate the many different parties involved in processing each transaction, and the fees they charge.
In this guide, we’ll explain the ins-and-outs of credit card payment processing, including:
- A breakdown of the fees charged
- How fees can affect your rate
- The difference between card present and card not present (CNP) payments, and;
- How you might be able to reduce your transaction costs