The rise of Payment Request – a better way to accept remote payments for your accommodation business
Case Studies / 30.08.2018
Accepting advance payments remotely, in the most secure and efficient way, is a main priority for property owners in the hospitality and lodging industry. With travelers devising their own travel plans and booking mostly online, there is an obvious need for payment channels and services providing utmost convenience to both ends of the booking process.
One such accommodation provider – City Pads London – is accepting payments for its multiple serviced apartments locations in the heart of London via myPOS Payment Request. A new service for requesting money from any person at any location worldwide, and used by payment providers like PayPal, Stripe and more. Payment Request is basically a payment link with a preset amount which the merchant sends to their client via email, SMS or even chat. Once the client clicks on the link, they are redirected to a secured payment page where they enter their card details and complete the payment process.
Payment Request in a way is a more contemporary alternative to the classic Pre-authorisation and MO/TO payments, which are typically used by the travel and accommodation industry to accept card-not-present transaction.
This type of payment ties up very well with the City Pads’ business model where most of the properties are booked distantly and upon successful payment the client receives a pass code which they use in order to get in the property. The pass code is only valid for the booked duration and cannot be used before and after. No payments are made at the apartments and the landlord and clients almost never meet physically.
Additionally, City Pads are using mobile myPOS payment terminals in their office downtown London for the cases where clients come in person to make a booking.
What made City Pads choose myPOS a service provider?
- No monthly or yearly fees. myPOS works on a pay-as-you-use model, which is very suitable for seasonal businesses and gig economy professionals as they are charged a small transaction fee only when they receive a payment via a POS device or on online service
- Instant pay-out of received funds into the myPOS merchant account. This is valid for all payment channels – via POS terminal, online and mobile.
- Free myPOS account with a free myPOS business VISA card. The free account ensures instant access to the merchant’s funds as he can send and receive money transfers anywhere in the world or withdraw cash with the VISA card.
- No need to have own website or an online shop to use Payment Request. It is perfectly suitable for anyone with or without online presence as they can send the payment link by email or SMS via their myPOS account.
- Access to free extra services like Private Label GiftCards, Mobile Top-up, Virtual terminal and more. These services are available for free to all myPOS merchants via their myPOS account and are a great tool for generating extra revenue and bringing more footfall to their locations.
Quote from Michael O’Brien, Director of City Pads London:
“Offering a variety of payment options is crucial for our business as most customers are technologically-savvy and are looking for the most convenient ways to book and pay. myPOS gave us the opportunity to accept distant and in-person payments, without the burden of subscription fees and binding contracts. In addition, we got access to free online banking and lots of additional services.”