HTNG Releases Open Payments Alliance Standards Specification: Payment Recipients
While there have been many advances and innovation in the distribution channel, payments have not evolved at the same pace due to their intrinsic complexity. There are many forms of payment used in the indirect sales channel and each one of them has different payment and processing instructions. This hinders hotel reservations and front of desk operations causing inefficiencies and overhead costs; ultimately affecting the traveler's experience at the property.
The Open Payments Alliance (OPA) is introducing the concept of a Payment Manager. The Payment Manager provides a travel industry specific payment solution. The specification defines the role of a Payment Manager, a solution that transforms payable data into instructions that automatically initiates and settles payments between two parties. These solutions are expected to streamline and automate processing as well as reconcilliate payments used in indirect sales channels.
It is expected that the adoption of these specifications will standardize the way payments are processed today, improving operational efficiencies for hotels while providing a better check-in experience to travelers.