|Hospitality technology provider, D-EDGE has announced a partnership with PayPal to make prepayment the norm in hotel bookings. The partnership will enable hoteliers to accept payments quickly and securely from their hotel websites from guests worldwide.|
According to the news from D-EDGE, the practice of booking now and paying later, the hospitality standard, is one of the main impediments to revenue growth for hoteliers due to its negative effects:
- High cancellation rate: According to recent research by D-EDGE, over 23.5% of the bookings of independent hotels and 35% on-the-books revenue is canceled before arrival.
- Fraudulent Bookings: As the booking is not engaging the end user, some hotels may be the victim of unscrupulous visitors booking long-term stays (20 days or more) just to feed their Visa’s demands for example.
- Cash flow impact: According to the recent D-EDGE’s survey, average booking time (lead time) on hotels’ brand website is 37 days … 37 days of missed cash flow.
D-EDGE’s solution is to help hoteliers encourage payment at time of booking by creating a widened the array of payments accepted. Partnering with PayPal, one of the world’s most accepted forms of digital payment, is a move in response to a growing demand from the end travellers: 59%* of them will book somewhere again if they are able to pay quickly the first time. Pierre-Charles Grob, CEO of D-EGDE offered this via the company’s press release:
“Thanks to this partnership, the 11,000 hoteliers whose websites are powered by a Booking Engine D-EDGE ( ex Availpro Fastbooking) can in a very easy way get access to the 267 million active PayPal users around the world and offer them a simple way to pay in a few clicks at the time of booking from any device including mobile phones.”
Established from the merger of two long-established hospitality digital solutions providers, D-EDGE offers leading-edge cloud-based e-commerce solutions to more than 11,000 hotels in over 100 countries.
Combining the technical excellence of Availpro with the digital marketing expertise of Fastbooking, D-EDGE brings a holistic hospitality technology infrastructure under one roof. The integrated range of solutions covers all stages of hotel distribution which encompasses Central Reservation System, Data Intelligence, Connectivity Hub, Digital Media and Website Creation.
With a team of 350 experts located in over 20 countries, D-EDGE provides localized support, services and tools. With its global network of 500+partners D-EDGE’s ever-expanding ecosystem is a positive place to do business and grow.
Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal’s 267 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person.
Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.