payment processing
PSD2 IN REAL LIFE: How The New Payment Service Directive Works for Hotels and Online Bookings
Shlomit Kugler | CEO, MyCheck | September 12, 2019
By Shlomit Kugler PSD2 IS OLD NEWS By now, you've likely heard about the new credit card payment service directive and its potential repercussions in our industry. What you may not know, however, is that PSD2 is nothing new in fact, it was first implemented back in 2015, even though not all its parts were enacted simultaneously. Strong Customer Authentication, particularly, was meant to come into force only on September 14th, 2019, four years after the approval of the directive. So, you'd imagine the industry to be ready, wouldn't you? Well, not quite... KNOWLEDGE, POSSESSION, AND INHERENCE So, what is PSD2? At its core, it is merely an ...
RoomKeyPMS Launches Hotel Payment Processing Solution
RoomKeyPMS | September 5, 2019
SEPTEMBER 5, 2019 – Vancouver, BC – RoomKeyPMS announces the launch of its new product, RoomKeyPMS Payments, a simplified PMS payment processing solution engineered for hotels. This product is a perfect solution for any hotels looking to take the complexity out of payment processing, speed up reconciliations or increase payment security and compliance, all integrated within the RoomKeyPMS platform. Tim Major, Executive Vice President of RoomKeyPMS, comments “The ability for hotels to efficiently manage payments and transactions is critical. Our customers’ feedback was consistent: hotel-specific needs were not being adequately me...
Revenue Is Rising, But Collecting Is More Challenging
Robert Mandelbaum | April 18, 2019
By Robert Mandelbaum According to STR, U.S. hotels achieved all-time high levels of occupancy, ADR, and RevPAR in 2018. While a record number of guests are staying at hotels, and revenues are flowing in, the ability to collect these funds is starting to become more of a challenge. Per the Uniform System of Accounts for the Lodging Industry, an account entitled "Provision for Doubtful Accounts" has been established in the Administrative and General Department of a hotel operating statement. Each month, hotel managers estimate the portion of their property's receivables that they do not believe will be collectible. The Provision for Doubt...
IBC Integrates With Amazon and PayPal and Is Chosen as the Technology Powering MasterKey Alliance
IBC | September 26, 2018
Properties and guests can now use Amazon Pay and PayPal as alternative payment methods through IBC's integrated payment processing Phoenix – September 26, 2018 – Today IBC Hospitality Technologies announces two exciting accomplishments. First, the company has been selected by MasterKey Alliance as the technology to power its Association's online B2B online marketplace. As the industry's only all-accommodation association, MasterKey will use IBC Hospitality Technologies to power its coalition of independently-owned and operated corporate housing, vacation rentals, serviced apartments and independent hotels. Next, integration ...
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