Payments. Expertise. Guidance.
The mission of XanderPay is to help hoteliers manage payments in an efficient manner which enhances the guest experience while creating an efficient operational payment infrastructure.
At XanderPay, we understand the payment process from a guest booking on a brand.com site or a third party OTA all the way through a hotel's payment reconciliation process.
Working with globally recognized payment and technology companies, we will help hoteliers identify the appropriate guest-centric payment strategies and providers. We will also guide hoteliers on the appropriate mix of B2B payment solutions - implementing VCCs where beneficial and introducing our own XanderPay solution for B2B bank transfer guarantee payments.
Right-sizing B2B Payments
The hotel industry is in the midst of a revolution in payments – moving from the mindset of property-centric payments to offering payments based on guest localization and payment preferences. At XanderPay, we can help with the creation of an efficient guest-focused payment strategy and work with hoteliers to identify the right partners.
Hotels have long relied on credit cards and then virtual credit cards for receipt of payments from third party sellers, like OTAs. In many use cases, the card based products are the optimal payment solution. Innovation through XanderPay and its partners provides a more cost effective payment mechanism for bookings from known and trusted relationships. XanderPay advocates that no one payment method works best for third-party bookings – but the payment type should be ‘right-sized’ to reflect the inherent risk of non-payment in the relationship.
Today, hotels pay somewhere between 1 – 4% of room revenue more than necessary to process payments for almost every cross-border guest. Hotels are overpaying for third-party bookings because of legacy processes and antiquated payment choices. XanderPay’s hospitality payment experience enables our team to provide expertise and guidance in structuring payment strategies which work for both the hotelier and its guests.
The hidden cost of payments is often foreign exchange. Whether it be revenue uncaptured from multi-currency pricing or payment to suppliers with above market FX ‘mark-up’ rates, hoteliers seem to ignore the importance of foreign exchange. XanderPay can assist hoteliers in optimizing FX conversions and in mitigating risk associated with currency fluctuations.