Industry Association Eases Acceptance of Virtual Credit Cards by Hotels
May 20, 2015 10:21am
CHICAGO – (May 20, 2015) Hotel Technology Next Generation (HTNG), the membership association that unites the world’s hospitality companies and technology innovators to solve industry challenges, announced the release of the Virtual Payment Cards Specification, which provides a standard mechanism for hotels to distinguish virtual cards from traditional cards and handle them more efficiently.
Virtual credit cards have been used very commonly in recent years by Online Travel Agents (OTA) to pay hotels for pre-paid or merchant bookings. They are now becoming more popular and being used by Global Distribution Systems (GDS) for corporate travel as well as hotel chains to pay their hotels for pre-paid bookings on the brand website. Hotels struggle to properly handle these transactions because there is no systematic way to differentiate a virtual card from a standard card based on the information in the reservation, and there are specific business rules related to each payment that are currently being communicated through off-line faxes and emails. This creates inefficiencies and confusion, resulting in guest service issues and declined payments.
Once the new Virtual Payment Cards Specification standards are implemented around the various systems involved, distributors will no longer have to send faxes or emails to hotels to communicate the business rules for each payment, and hotels will find it much simpler to accept this type of payment.
The full HTNG Virtual Payment Cards Specification document is available at:
https://collaboration.htng.org/Virtual Payment Cards.
virtual credit cards
Membership in HTNG is open to hotel and hospitality companies, technology vendors to hospitality, consultants, academics, press and others. Currently more than 400 corporate and individual members from across this spectrum, including most of the world's leading hotel companies and technology vendors, are active HTNG participants. HTNG's Board of Governors, consisting of 21 top IT leaders from hotel companies around the world, itself has technology responsibility for about three million guest rooms. HTNG publishes workgroup proceedings, drafts and specifications for all HTNG members as soon as they are created, encouraging rapid and broad adoption. HTNG releases specifications into the public domain as soon as they are ratified by the workgroups. For more information, visit www.htng.org.
Contact: Jennifer Hoeker
+1 (847) 303-5560 x206
HFTP’s Premier HITEC Amsterdam to Co-Locate with HTNG’s Insight Summit Europe in March 2017
HTNG Names Keynote Speakers for 2016 North American Conference
HTNG Adds Strength to Its Board With New Members
The 2016 TechOvation Award Competition Open for Entries for HTNG's North American Conference
HTNG Releases EMV Hospitality White Paper
Hotel Technology Next Generation (HTNG) Names Keynote Speakers for 6th Annual European Conference
Hospitality Industry Gains Complete Automated Solution with CSI globalVCard and BirchStreet Partners
HTNG Adds Three New Board Members - Raman P. "R.P." Rama, Jason Shane and Martin F. Stanton
HTNG Names Michael Blake to Succeed Douglas Rice as CEO
Final Agenda Set for HTNG's 2015 North American Conference
Douglas Rice to Remain CEO of HTNG Through 2016
Mandarin Oriental CIO Monika Nerger Elected as New President for HTNG
Hotel Technologists to Expand Strategic and Technical Knowledge at Annual Conference in Budapest
Middle East Conference of Hotel Technology Next Generation (HTNG) to Address Key Industry Challenges
Challenges of Migrating Hotel Systems to the Cloud; Collaboration Underway to Define Best Practices
Eleven Launches Its New Conference Manager For Internet Access
HTNG’s North American Conference to Focus on Future Tech Trends, Hacker Defense and Mobility
HTNG Honors Mövenpick Hotels (MH&R) & Hotel Lugano Dante Center as 2013 EMEA Technology Innovators
HTNG's European Conference Agenda Includes Data Security, Cloud, Smart TV & Reputation Management
HTNG Elects New Members to its Board of Governors and its Vendor Advisory Council
Please login or register to post a comment.