Cashless payments and loyalty programs in hospitality & tourism

It is already known for quite some time that cash is not a preferred way of paying for goods and services nowadays. More and more businesses around the world have decided to eliminate the need of dealing with cash. There are other innovative payment alternatives, replacing the old-fashioned way of paying with cash. The hospitality and tourism industry is no different from the vast majority of businesses changing to cashless payments methods. Travelers don’t feel comfortable when carrying cash during their holidays. Businesses that are part of this industry and not only, will transform usual customers into loyal ones, will increase sales, and improve the overall user experience considerably, if they consider switching to a cashless payment alternative.

Cashless payments and loyalty programs in resorts and hotels

Businesses that are part of the hospitality and tourism environment need to differentiate themselves to achieve the desired customer retention. It is an extremely competitive market, where customers have a variety of options to choose from. For a hotel, it is not enough to provide bed & breakfast, without making additional efforts to create memorable experiences. What if I told you that a simple key card can take on many roles, transforming your usual guests into loyal ones? Let’s take the example of a hotel chain, with several locations around the world. The majority of hotels and resorts, provide their guests with key cards for room access only. However, those cards have the capacity of being used as: payment, entrance to specific areas, bonus, and loyalty cards in any participating location, therefore creating an ecosystem. Besides the great experiences that your guests will benefit from, you will have access to qualified data that can be used strategically. Based on your guest’s behavior and usage, you can market and adapt the available offers accordingly.

It has been proved that among companies using incentives, 79% of them reported a success rate in achieving the established goals . In the case of hotels and resorts, rewarding guests accordingly plays a very important role. The reward can be based on different aspects, such as number of bookings, amount spent within the hotel, referrals and not only. An easy way to make all this information available would be by creating an ecosystem that comes with access to detailed reports, ultimately enabling to differentiate between gold and silver members for example. 

Supporting local businesses by partnering up with hotels and resorts

Hotels and resorts might choose to partner up with different businesses, offering support and contributing to the local economy. Depending on the purpose of your trip, as a tourist, the likelihood of willing to explore the surroundings are very high. For this reason, partnerships with local restaurants, cafes, shops, museums, can positively impact the customer purchase experience. One creative way in which this can be achieved, is by integrating the internal payment system of a hotel or resort with its partners. Guests will have the option to pay with their key card, not only inside the hotel, but at other partner locations as well, therefore expanding the ecosystem. Since all the transactions are recorded, external vendors might be granted access to relevant reports, enabling them to reward their loyal customers on their behalf.

The cashless payments solution that Oveit has put into place can easily achieve the above mentioned for any hospitality and tourism business. There might be times when internet is not available in every location that uses our system. We thought about this scenario and came up with a solution for it. Our technology has the capacity of working both online and offline, meaning that whenever internet goes down, the customer experience and the recorded data won’t be affected at all. We bet that you are asking yourself how we achieved that, but we invite you to find out for yourself!