Payment Systems

Payment Systems
D-EDGE | Consumer Payment Behaviour Is Changing
Globally, cashless payments are set to increase by more than 80% between 2020 and 2025
IHF Associate Member

Gone are the days when cash was king. Globally, cashless payments are set to increase by more than 80% to almost 1.9 trillion transactions from 2020 to 2025. And an ever-increasing proportion of these payments is taking place online.

As more businesses accept alternative payment methods, consumers will grow to expect them when booking hotels too. Yet the hotel industry is lagging behind.

For example, mobile bookings account for about one-third of hotel direct bookings, but the conversion rate is 50% lower than on desktop, according to D-EDGE data. The most common reason for abandonment? The payment process is too complicated.

To attract more travellers and capture more bookings, hotels must offer a diverse array of payment options and a simple, friction-free payment experience. And that starts by understanding the most popular online payment methods consumers use today.

D-EDGE Hospitality Solutions shares some thoughts and insights on payment automation on their blog here.

Contact details

Jacqueline Reid

0044 7984 064638

Irish Hotels Federation | Working Together