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Addressing payments in the most successful subscription business models

The boom in the digitization of physical businesses and digital native ventures during the pandemic has led to the proliferation of subscription, membership, or flat-rate business models. These are services, usually digital, that are enjoyed during the entire period of time for which you are subscribed. Popular examples of businesses that run on this system are Netflix, Spotify, or the “premium” format of many apps and websites.

 

This payment system has great advantages for the company that adopts it, since it easily achieves recurring income and offers countless ways to retain customers and keep them subscribed to its services. To better understand how these business models work and how PaynoPain can help easily charge their customers, let’s look at examples of types of subscription payment businesses that are currently very successful:

 

 

Content and entertainment platforms

 

We all know the big boys, but there are more and more options for digital entertainment platforms that charge per subscription. Movies and series, music, books, video games… Also others where independent content creators upload their creations and their followers can pay a subscription to access them, for example Patreon or Ko-fi. Digital newspapers with paid subscriptions would also fall into this category.

 

Subscriptions to these services usually have a monthly frequency and customers are very aware of the expense involved, so the content must maintain a good level of quality and strive to keep users loyal. And, of course, the best way to ensure payments and maintain proper management is to have a payment gateway such as Paylands, with a specific and complete tool for subscriptions.

 

 

Gyms and other physical services

 

Neither subscriptions are something new nor only digital services charge for this system. A good example is gyms, which have been using this business model for many years.

 

For physical services, our digital subscription payment system is also very practical, allowing users to manage their payments virtually and forget about both cash and cards. The physical business can control the payments of its customers from the Paylands digital control panel and take advantage of the same advantages that we offer to virtual businesses.

 

 

Apps

 

Most of the service apps that emerge today use the “freemium” system, which consists of offering a small part of the services for free and a more “premium” part under payment of a periodic subscription.

 

Although there may be monthly or quarterly payment options (for example), it is common for app subscriptions to be made for periods of one year, since they are usually very low fees, of a few euros. If customers are satisfied, they will very often forget that they are paying for the service and the optimal thing will be for the subscription to be renewed automatically without further complication for either party.

 

 

Individualized services: coaching, trainers, advisors… 

 

One type of entrepreneurship that has emerged strongly during the pandemic are personal projects for individualized services, such as coaching, personal trainers, all kinds of advice… And many of them are born directly in their digital version, since it allows them to reach a much wider audience while saving resources.

 

This type of project may require a single one-time payment or a subscription, and in both cases having Paylands as a payment gateway will have enormous advantages, since the entrepreneurs will be able to send a payment link by email, sms, whatsapp, etc. for a punctual, easy and simple payment, or to subscribe their clients and enjoy all the advantages of our tool.

 

 

What does the Paylands subscription payment tool allow you to do?

 

  • Create your own subscription plans: Paylands allows you to establish automated payments with the desired frequency and amount so that each business can create their own subscription plans.

 

  • Make different collection attempts: if the client does not have money in his account at the time of collection or any other setback occurs, there is no reason to lose the client or have to invest time and resources to solve the incident. With Paylands it is possible to set the desired number of payment attempts so that, automatically, the subscription will be tried again for X days.

 

  • Check the balance in advance with a pre-authorization: it is also possible to ensure the payment before the moment of payment of the subscription arrives, using the pre-authorization functionality. Thus, in advance of the collection date, Paylands will send an order to verify that there is sufficient balance in the account and retain the amount to be paid to ensure the payment of the subscription when the time comes.

 

  • Receive notifications with processed charges: by configuring a URL, each time a subscription is generated or a payment is processed, a notification with the stipulated data will arrive at the configured URL. In this way, it will be much easier to automate the entire process without losing control of the information at any time.

 

 

What makes the subscription payment system different from PaynoPain?

 

Beyond the advantages of the service and the rest of the tools of the Paylands payment gateway that facilitate all your clients’ payments, at PaynoPain we differentiate ourselves by offering a close and personalized service to our clients. We listen to your needs and improve our tools based on them. For this reason, Paylands is constantly evolving and improving.

 

 

If your business has specific payment needs, don’t hesitate to contact us and explain what they are. Very possibly we will find a way to help you:

 

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    Marketplaces: What payment methods do sellers and customers prefer?

    Marketplaces could be defined as a virtual shopping center. The difference is that, in this case, the mall instead of charging the seller a rent and expenses, it charges a monthly fee plus a commission on its sales. And these commissions can be really high, as is the case with Amazon, which charges its sellers up to 15% on sales as a commission.

     

    Knowing this, it is easy to understand why the payment methods offered by the giant marketplace are limited: the cheapest in terms of commissions and the most popular among consumers, since the commission of the payment platform must be added to the commission on the sales, as we’ve seen.

    However, each marketplace has totally different prices, for example Ebay commissions on the seller do not exceed 7%. And these are just two of the most popular examples, but in recent years the number of online marketplaces has multiplied rapidly. And not in vain, because during the pandemic the best established platforms have grown to 100%, 200% or more. Without a doubt, it is a business model that really works today.

     

    So how do you choose payment methods when launching a marketplace? It will be necessary to take into account the preferences of the sellers and, above all, those of the buyers, since are them who are going to make use of the payment gateway.

     

    What payment methods do sellers in a marketplace prefer?

     

    The short answer is: those that cost them a lower commission and improve their conversion rate. Without a doubt, payment by credit card is mandatory, since it is the one preferred by customers and (depending on the provider) one of those with the lowest commissions.

    And the improvement of the conversion ratio can occur in different ways, the main one is to give the customer a payment method that they trust. Undoubtedly, it is also important to choose a payment gateway that is integrated within the same web to give greater confidence to the buyer, and also using alternative payment methods such as MoTo, which allow to recover abandoned carts and potentially save sales that were considered lost.

     

    What payment methods do marketplace customers prefer?

     

    The short answer is: the more options to choose from, the better. Because while it is true that the percentage of cyber shoppers who are reluctant to enter their card payment details is decreasing, it is also true that this type of user continues to exist and that due to the pandemic, new inexperienced buyers have appeared and they also fit that profile.

     

    But not only that, new payment methods appear every day that have the option of becoming the favorites of some sectors of the population and that should not be left aside, as is the case with Bizum or even cryptocurrency.

     

     

    At PaynoPain we are experts in online payment methods and we have all the tools to provide our customers’ marketplaces with the favorite payment methods of the Spanish and European, in addition to offering the best anti-fraud security measures and a control panel that facilitates the control of all transactions and business expansion.

     

     

    Find out without obligation about our payment methods for marketplaces:

     

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      5 reasons to open an online store if you already have a physical store

      These days everybody is talking about the importance of having an online store, even if your company is an SME. But the truth is that sometimes, when you already have a physical store that works well, it is difficult to see reasons to dedicate the time and effort necessary to create an online store or, at least, a website about the company.

      Actually there are many compelling reasons to have an online presence, whatever the business area you work with. And with the aim of clarifying ideas and giving the necessary push to those who still do not have their own website, we have compiled the 5 main reasons to open an online store if you already have a physical one:

       

      1. Do not lag behind the competition

      If they haven’t already, it is a matter of time before the direct competitors of a physical business create an online version of themselves. And while it is tempting to wait for this to happen to follow in their footsteps, the ideal if you want to have an advantage over the rest is to be the leader in the digital race and not a mere follower.

       

      The time that an online store has been open is decisive in its level of traffic and its reputation, therefore the only way to stay ahead of the competition is to open your own website as soon as possible.

       

       

      2. Reach a much larger audience (even international!)

      No matter how many customers a physical store has, it will always be geographically limited to its neighborhood, city or, at most, region. Taking the virtual leap means being able to reach as many users as you want, you just have to plan the logistics to be able to deliver the products or services nationally or even internationally.

       

      In addition, the fixed costs of an online store are very low, so if the expected results are not obtained as quickly as desired, this will not be an economic challenge for the business.

       

       

      3. Sell without schedules

      More and more, customers are getting used to buying online for the convenience of being able to do it from home and at any time. Work hours do not always leave free time to go shopping in physical stores and this also favors online sales.

       

      Therefore, an online store better adjusts to the schedules of those customers who cannot go to the physical store and serves as a complement, allowing sales 24/7. In this way, the workload in the physical business is also reduced and both worlds can even be connected allowing the collection of products purchased on the web in the store.

       

       

      4. Cheap and effective advertising

      Advertising campaigns are much cheaper on the internet than in traditional media such as press or television. And the truth is that, today, the audience that can be reached through this channel has nothing to envy the rest of the media. Ads can be created on social media, Google Ads or online media for the desired financial investment, however it is essential to have a web page to which to direct the traffic that is achieved in these campaigns. And if users can buy directly from an online store, the chances of success grow exponentially.

       

      In addition, online marketing campaigns have the added advantage that, if they are well configured, they have a very high profitability and, in addition, it is possible to know exactly where each client has come from to adjust the parameters and the investment.

       

       

      5. Virtual stores are immune to confinement

      Given that we are in the midst of a health crisis due to the COVID-19 pandemic and that many businesses have suffered great economic losses due to the confinement experienced, it is inevitable to take this point into account when making a decision. Those businesses that had an online version have been able to continue working and have focused on virtual sales to alleviate possible losses, while those that only had a physical store have had to close and stop all economic activity.

       

      We do not know if this situation will happen again in the future, but it is certainly something to consider when deciding to create an online store for our business.

       

      At PaynoPain we have been working for 9 years with companies that sell products and services online and providing them with comfortable and attractive means of payment, both for themselves and for their customers, for really affordable prices.

       

      Find out without obligation how we can help you to get online payments and don’t spend another day without an online store:

       

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        What trends in payment methods will emerge in 2021?

        The pandemic has accelerated the digital plans of most companies, reaching digital transformation plans that were initially going to take years to be carried out in a few months. Ecommerce has been strengthened by the pandemic and the online sales channel has become the main one for many businesses. But this is not the only trend in means of purchase and payment that COVID-19 has brought, several more have already been detected and their moment of consolidation will be in 2021.

         

        PSD2, payment initiation and a-commerce

        There is an event that many have forgotten but that will condition the world of online payments as much or more than the pandemic: the entry into force of PSD2. From the end of 2020 the authentication of the online buyer must be reinforced, but there will be a way to be able to make recurring charges, necessary for a-commerce (automated commerce), without the user having to identify himself each time or, at least, in a much faster way: the initiation of payments.

         

        And a trend that will inevitably be associated with double authentication is going to be the use of biometric features for the approval of payments. A touch with the fingerprint, the scan of the iris or the facial features will serve as confirmation to complete the payment quickly and safely for the user.

         

        Unified Commerce

        With the widespread digital leap that we are experiencing, the next logical step towards efficiency is to integrate all sales channels to offer a better customer experience, avoid duplication and optimize costs. To take this fundamental step, there are different technologies that will help businesses to centralize their sales, such as a payment gateway that works both offline and online but also includes social selling or apps and unifies all charges, data collection and statistics. Also, card tokenization will guarantee the security of payment data even in multi-channel mode.

         

        Ewallet and loyalty apps

        Although cashless payments have skyrocketed, the possibility of reducing intermediaries and that the customer can pay directly in a business’s own app is even more interesting. This is especially interesting for restaurants and cafes or companies that require great loyalty efforts, such as gas stations and service stations. Creating your own app serves to open a direct communication channel with the customer, it allows him to adopt the power to complete the entire purchase process practically independently and, in addition, it can include loyalty tools such as point cards or discount coupons . A wide range of possibilities that the pandemic has made much more necessary and that will begin to become popular from 2021.

         

        At PaynoPain we are experts in online payments and we are helping many Spanish and international companies to comply with the regulations and start working with the payment tools that we have seen.

         

        Find out how we can help your company to digitize and enjoy a more efficient payment system:

         

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          Management of online payments in SMEs and micro-enterprises: what is the best solution?

          A fact that is often talked about in Spain is that most of the Spanish businesses are small and medium-sized companies, but the truth is that the figure is even higher than many might imagine: according to the report ‘Entrepreneurship at Glance 2017‘ by the OECD, about 95% of Spanish companies are micro-SMEs, that is, with less than 10 employees.

           

          This is information that B2B service providers do not always take into account despite its importance, since these types of companies will have specific needs that have nothing to do with those of large companies or multinationals.

           

          At PaynoPain we provide payment services to companies of all sizes, but many of our clients are SMEs and micro-enterprises, for this reason we have managed to create the perfect products and customer experience for these types of companies. These are some of its main features:

           

          – Fair prices, proportional to sales: obviously a small company cannot afford the same costs than a large one, in the same way that revenues will not be the same either. For this reason, the commissions of our payment services are proportional to the sales and economic capacity of each company, always adjusting them as much as possible to maximize their benefits.

           

          – Easy and guided integration system: our payment gateway has plugins to integrate with most online sales platforms without any effort, in addition our support team offers constant support for the peace of mind of our clients.

           

          – Close and efficient customer service: we know that offering optimal service to your customers at all times is the most important thing for both large and small companies, for that reason our 24/7 customer service solves quickly and with a close and personalized treatment any problem that may arise.

           

          – Own security tools: small companies cannot afford to have an infinity of providers for different needs, which is why it is especially useful that our payment gateway has different security and trust-building tools for customers, such as 3D Secure or our own anti-fraud system. These tools protect both buyers and the online store from possible fraud attempts, the use of stolen cards or data theft.

           

          As we have seen, SMEs and micro-enterprises are the business base of Spain and it is essential that their management of online payments is simple and fluid for the convenience of all citizens. And with this objective we work at PaynoPain innovating in payment technologies and now also in financial services.

           

          Whether you want to integrate our payment gateway into your physical and/or virtual business or if you want to explore other ways of collaboration, write to us without any obligation and we will be happy to answer all your questions.

           

          TELL US ABOUT YOUR NEEDS:

           

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            How can a payment gateway help attract customers for your hotel

            A good digital marketing strategy involves all the elements that the customer will have contact with from the moment they discover our brand until they complete the purchase process (even after that). However, some of these elements are usually underestimated, and that is the case with the payment gateway. And the truth is that a good payment gateway with tools that favor conversion can be key to avoid abandoning the purchase before completing the payment process. And this affects any business that works online, and of course hotels as well.

             

            Currently, still suffering the consequences of the COVID-19 crisis, the tourism sector needs more than ever to implement a strategy to improve results. For this reason, we are going to review the key parts of the payment process and how a good payment gateway can help your hotel to attract customers.

             

            Different payment options and DCC for international clients

            Once the customer decides to book a room and it is time to pay online, the first thing they have to decide is with which payment method they will do it. Each user has preferences and, in some cases, not having their favorite payment method can lead to the loss of a customer. To avoid this, the more options you offer on your payment gateway, the better.

             

            Likewise, if your hotel receives international customers, it is very possible that in some cases they come from countries with currencies other than the Euro. We all know the mistrust generated by having to pay in a currency that is not yours and with which is not clear exactly how much you are spending. To avoid this, there is the DCC (Dynamic Currency Conversion) technology that allows you to change your currency automatically during the payment process.

             

            Payment form integrated in the website itself and with your brand

            Building trust in the user is key to get him to become a customer, and during the payment process there is a critical moment, which is the manual entry of the card’s payment details (the most chosen payment method). Many gateways “take” the client from the hotel’s website to another website where they can complete the payment process, and this can be confusing and worrisome for users with less experience or who are more suspicious. And the truth is that it is a risk of customer loss that can be avoided simply by choosing a gateway that integrates the payment form within the hotel’s website and, ideally, that also allows it to be personalized with the brand’s logo.

             

            Reminder emails to complete the payment process

            Implementing a purchase process that includes the collection of basic customer data is very interesting for different reasons, one of them is to ensure contact information to be used in case the customer does not finish the payment process. In this case, if we have his e-mail address and his authorization to receive emails from our company, we may send him an email encouraging to finish the payment process and, if our payment gateway has a MoTo tool (Mail order Telephone order), in this email we can include a direct payment link so that the user can resume the payment process where they left off.

             

            A memorable experience begins with the first contact

            Once we have successfully got the customer and the hotel stay is over, the next step is to achieve their loyalty. We want that user to think about our hotel when they return to the city or when deciding where to go on vacation in the future. And achieving such loyalty implies having offered an optimal experience from the first contact to the check-out (or subsequent marketing emails), including the purchase process, of course.

             

            A long, slow or low-trust purchase process may not be enough to discourage a user who, at a particular moment, needs a room quickly or has no other option to choose from. But without a doubt, it will be much more difficult for that customer to be loyal and repeat in the future. For this reason, it is extremely important to carefully review all the points that we have previously seen and make sure that we offer the client an optimal experience in the relationship with our hotel, including the payment gateway.

             

             

            At PaynoPain we are experts in payment methods and we are helping many hotels to optimize their payment processes and improve their results with all the tools described in this article and many more. Find out without obligation about how we can also help your business through this form:

             

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              Tourism businesses can find in eCommerce an important ally for the revival of the sector

              • PaynoPain summarizes in 5 the keys to having a secure, fast and easy-to-use e-commerce, which is essential to ‘return to normality’ in the tourism sector. 
              • PaynoPain recommends offering multi-device payment experiences, in which the users can choose the way to make the transaction and the currency that best suits their needs, and feel total security and confidence when making the transaction.

               

              The coronavirus has altered the vacation plans of many this summer: only 32% of Spaniards who had made plans keep them intact after the pandemic, according to SocioMétrica. The fear of contagion and the gradual opening of borders slow down the return to normality of a sector that, if in 2019 it contributed 153.9 billion euros to the GDP of Spain’s economy, Exceltur’s forecasts are that this year its contribution  will barely exceed 70,700 million euros, the worst figure since 1999. Apart from the protection and hygiene measures, PaynoPain, a Spanish technology company specialized in the development of online payment tools, recommends that tourism operators opt for ecommerce as an ally to recover the figures prior to the pandemic.

               

              “Although it is true that travel agencies and operators are, within the tourism sector, the most advanced in the adoption and use of electronic commerce – proof of this is that they generated 16% of the 11,999 million euros that they invoiced e-commerce in Spain in the second quarter of 2019, according to the CNMC-, there is still room for improvement that can be vital for recovery, ”says Jordi Nebot, CEO and co-founder of PaynoPain.

              This way, PaynoPain recommends that those who have not yet started their journey in the online world, do it as soon as possible, since 72% of Spaniards already prefer to pay and book trips online, according to Cetelem data. The advice for those that already sell online,  is to check if their online sales systems include the following options:

               

              1. 100% safe. Overcoming the fear of being scammed is still the main obstacle for a website visitor to end up becoming a customer. The best formula to guarantee security to the user and give them confidence is to comply with all the PCI regulations, the also mandatory PSD2 with its corresponding 3D Secure authentications and add extra layers of security as an intelligent anti-fraud system.
              2. Multi platform. Currently, the computer is giving way to mobile devices such as smartphones and tablets when hiring and paying for vacations online, so it is important to have a multiplatform sales system. In this way, it will be possible to increase the conversion ratio and maximize sales opportunities.
              3. Cards tokenization. The debit or credit card continues to be the favourite means of payment for customers, so ensuring that the user’s sensitive data is safe from any possible fraudulent use is essential. The fact of having a payment gateway capable of tokenizing card payment data in a completely indecipherable code is the best guarantee, also for the service provider since, thanks to this technology, they can check security data before executing the reservation, for example, verifying if it has been stolen or has enough money, and minimize any scam attempt.
              4. Variety of online payment methods. It is important to consider a wide range of options so customers can find the one that best suits their needs or preferences. Thus, for example, it is interesting that the operator has a payment service that includes payment by link with 3D Secure and even IVR (Interactive Voice Response), to guarantee efficient and very secure remote charging to customers who prefer book by email and phone, respectively.
              5. Multicurrency and digital means of exchange. The Internet opens the business to the world. For this reason, it is important to have an automatic currency conversion system, which makes it easier for foreign customers to pay with their currency. With this, not only it is possible to optimize the conversion ratio but also to offer a better online booking and payment experience. It is also convenient to open up to the use of digital currencies or cryptocurrencies as a payment method.

              “Today it is no longer enough to be on the Internet. Businesses have to create safe, convenient and fast shopping experiences for the user. Offering dream destinations and vacations for a population eager to forget about the months of confinement and facilitate online booking and payment anytime, anywhere, regardless of device and method of payment, can be key for the recovering of the sector. That is why we create personalized shopping experiences with the business brand to build trust. In these times it is what the customer needs the most”, says Nebot.

              PaynoPain has a specific payment gateway service for the tourism sector, Paylands, which includes all the aforementioned benefits and, in addition, a fraud monitoring tool, which shields consumer information and the operations they carry out.

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              Shopping trends after coronavirus pandemic: How do consumers prefer to buy and pay?

              With the state of alarm and the confinement over in Spain and other countries, many might think that we will return to normality, but everything indicates that the post-coronavirus era will be very different from the previous one. Many areas of daily life have been affected, such as work methodologies or behaviors when it comes to socializing and also consuming.

              The new normality has a new type of consumer, the post-coronavirus consumers have changed their habits and consumption patterns during confinement and many of them will stay. The fear of catching the disease and the comfort discovered with alternative purchasing methods have led to the emergence of a new post-coronavirus consumer profile, which has already been attributed a series of very specific characteristics. Let’s see them:

               

              Post-coronavirus consumer is more attentive to promotions and offers

              The purchasing power of consumers has dropped during confinement. Although they have not left home and have barely spent money, millions of Spaniards have lost their source of income or have had to subsist without a job. It is for this reason that many non-essential sectors have noticed a drop in demand and that the consumer has begun to look at prices with a magnifying glass and to value any promotion or offer that helps them save a few euros, and this trend will continue, at least , as long as the economic situation is not the same as it was before the crisis.

               

              Post-coronavirus consumers buy much more online

              During confinement, the closure of most stores forced consumers to try online shopping. And not surprisingly, online sales have increased their results by 55% on average during the months of alarm and today (with all physical businesses already open) accounts for a third of total transactions in Western Europe. This has led many local producers and stores to digitize their business and have a greater online presence, and those who have not yet done so, have had to find alternative payment solutions such as link payment.

               

              Post-coronavirus consumer chooses larger, infrequent purchases

              Closely related to the habits we’ve seen above are the largest but infrequent purchases. This online purchase mode allows you to get better promotions and offers, save shipping costs and minimize the number of times the purchase process must be repeated.

              And there is another related trend: the rise is the automated or subscription purchase, which consists of choosing a frequency in which certain products will come home and automate it so that you do not have to go through the payment process again. Many virtual businesses reward this type of purchase with discounts, which perfectly fits the interests of the company but also of the post-coronavirus consumers’.

               

              Post-coronavirus consumer chooses innovative payment solutions

              The cash withdrawal in Spain fell 68% during the month of March, at the beginning of the confinement. Interestingly, this has been the first crisis in which the demand for cash has decreased rather than increased. The fear of contagion has made online and contactless payment methods flourish, allowing zero contact and guaranteeing greater security. But at the same time, they are faster, more comfortable and safer payment methods, due to which everything points to the fact that the post-coronavirus consumers will continue to tend to prefer them over cash.

               

              At PaynoPain we implement the necessary technology in any type of business so that it can adapt to the needs of the new post-coronavirus consumers in a simple, economic and fast way. Our Paylands payment gateway allows to respond to all the payment needs of users, in addition to many other advantages for the company.

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              Trends in bookings and payment methods in the tourism sector

              Nowadays, speed and instantaneousness are protagonists in the course of daily life. With the irruption of new technologies, many of the behaviors that have been carried out have been modified. One of the clear examples is in the tourism sector, where booking and payment habits have completely changed in recent years.

              The popularization of OTAs has revolutionized the tourism sector. These online travel agencies have taken technology as an ally to offer lower prices, time savings and convenience when booking and paying online, they have even been a boost for small hotels.

              Travelers opt for online booking and payment from mobiles and computers

              According to the latest data issued by the Report from the Cetelem eCommerce Observatory, 72% of Spaniards prefer to pay for and book trips online. This data increases in the age range of 18 to 38 years, reaching 86% of the population. An age range that increasingly travels much more in search of adventure, therefore, the amount of income generated online by this group, can reach quite high numbers.

              It should also be borne in mind that, of the 72% of Spaniards who make reservations online, 47% do so using the computer and the remaining 25% use their smartphone, which means that it is important for hotels to have a multiplatform online sales system. But this does not only affect hotels, but also other companies in the tourism sector, since 46% of Spaniards contract or pay online for any vacation service or product.

              A payment gateway adapted to new consumption habits in the tourism sector

              Most of the payments made by tourists are made by debit or credit card, so it is essential to have a good payment gateway capable of tokenizing this sensitive customer data. Compliance with PSD2 regulations is no longer enough, the payment gateway must inspire confidence and security to the customer. In addition, the payment process must be quick and easy, since it is calculated that the average time spent by tourists to book a hotel at their destination does not reach just 5 minutes. Using a good payment technology is the way to make sure you don’t lose any customers during the payment process, a fairly common problem.

              But not only has there been an increase in online bookings and payments in hotels and companies in the tourism sector, reservations by phone and e-mail have also increased, so in such cases it will be important that the payment service also has a pay-per-link system with 3D Secure and even IVR (Interactive Voice Response), to achieve efficient and very secure remote collection.

              This change in habits in the way of booking and paying in hotels and companies in the tourism sector has also changed the way of traveling. Now, thanks to the speed of the internet and the power of smartphones, trips that arise unexpectedly without prior planning have become popular, reserving all services in a short time and online.

              Your hotel must provide a wide variety of online payment methods

              We also know that today 66% of Spaniards prefer to pay in advance for trips, since they thus space the expenses generated by the trip over time and do not bear them all at once when the vacation period arrives. Regarding the payment method, although the debit and credit card is still the star, the truth is that more and more travelers are opting for alternative payment methods such as cryptocurrencies. Covering a good range of different payment methods will always be a good idea, since the more options the customer finds, the more likely they are to choose us for their holidays. As well as having an automatic currency conversion system, to improve the comfort of foreign tourists who want to pay with another currency in their online booking and payment experience.

              At PaynoPain we work with the most advanced online payment technologies and our Paylands payment gateway has all the tools we have discussed and many more. The entire team at PaynoPain is very aware of the needs that our customers transfer to us and we strive every day to satisfy them.

              Would you like to improve the payment gateway of your hotel or tourist business to increase the number of reservations and online payments? Find out how to do it.

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                What role will online payments play in the new post-COVID-19 normality?

                The health crisis caused by COVID-19 has triggered numerous economic and social changes that, in all likelihood, will largely remain in the new postcoronavirus normality. As we have talked about several times lately, businesses that didn’t previously have an online presence have been forced to virtualize in order to continue offering service to the confined population and not having significant economic losses.

                 

                For their part, those businesses that didn’t have an online store or the possibility of creating one at the moment, have found an intermediate solution in our pay-by-link service, through which their customers have been able to order and pay by contacting them directly by different online channels. Ultimately, it’s a way to take the digital leap with minimal investment, an affordable option for any business.

                 

                As expected, during the confinement online purchases are estimated to have increased by 55%, being the only way to continue providing goods to citizens while maintaining social distancing and security measures established by the authorities. But it’s also anticipated that this number will never return to what it was before quarantine, initially for fear of contagion and, in the long term, for the total acquisition of the new buying habit.

                 

                On the other hand, businesses that have been able to remain open, such as supermarkets and grocery stores, have seen the use of card and contactless payments increase significantly, due to consumers’ fear of using cash because of its large bacteria transmission capacity (not viruses). Not surprisingly, the cash withdrawal fell 68% in March. Contactless payments have been especially favored by the bank’s decision to increase the payment limit hereby from € 20 to € 50 without the need to insert the pin into the dataphone. This decision has been given by the recommendation of the European Banking Authority, with the aim of avoiding physical contact with the terminals as much as possible and thus reducing the possibility of contagion.

                 

                All these measures and new habits acquired reaffirm a trend that had been going on for years, the trend towards the total digitization of payments and the residual use of cash. And, although the classic means of payment will rarely disappear, the truth is that giving the maximum possible payment options to the customer is today as the only way to avoid losing sales. For this reason, at PaynoPain we work to create innovative, very secure payment methods that meet all needs.

                 

                Sources: Ecommerce News, Europapress

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