Cloudbeds Proprietary Payment Solution Ease Hospitality Industry's Operational Costs

KUALA LUMPUR, Oct 20 (Bernama) -- Cloudbeds, the hospitality management platform has expanded its in-platform payment processing solution, Cloudbeds Payments, to 36 countries globally, allowing tens of thousands of hoteliers to reduce operating costs associated with payment fraud, chargebacks, manual reconciliation and human error.

In a statement, Cloudbeds said the expanded solution is designed to reduce friction for guests in the payment process through new payment method options and e-commerce features such as Pay by Link.

“We have expanded the Cloudbeds Payments solution to further address industry-specific issues and empower hoteliers and hosts to hold a stronger position in the payment processing space that traditionally favours card brands and banks,” said its Senior Director of Product, Chad Brubaker.

With this update, Cloudbeds Payments now services the United States, Canada, Mexico, most of Europe, Australia, New Zealand and Singapore.

The global expansion of services will also include the ability to add regional payment methods, such as Interac in Canada, OXXO in Mexico, SEPA in Europe, as well as various “Buy Now, Pay Later” options.

The company also plans to release a new Tap to Pay feature in its upcoming mobile app, allowing hoteliers to instantly take contactless payments via a mobile device while on property.

Cloudbeds Payments takes security protection one step further by using machine learning and artificial intelligence (AI) technology to identify potential high-risk credit card transactions, in which credit cards with a high-risk score will be automatically denied, helping hoteliers more easily protect themselves against fraud.

-- BERNAMA