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Where B2B Payments, Transparency And The Future Intersect

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10 July 2017 by Mark Dubrow in Hospitality Trends & Research ,

In recent blogs, we’ve offered tips on how hotels and online and traditional travel agencies can work together to maximize profits and develop better business relationships through more effective collaboration.

While most of the suggestions specifically focused on commission payments and collections, they shared one common theme: the importance of transparency in getting the most from your business partnerships.

That goal was also an underlying theme throughout our inaugural Onyx FutureSource customer conference in May, where customers and experts from across the industry talked about everything from using big data to improve business intelligence to the need for better tracking and communications systems for meetings and event planners to a standardized global directory for hotel listings.

Here at Onyx, these are some of the things we are working on each and every day. But real solutions require collaboration with our partners. That’s why I was especially pleased to see not only seemingly unanimous agreement that collaboration is key to navigating the future and the fast-growing onslaught of potential disruptors, but also a sincere willingness to make it happen.

One great example of this commitment by the industry is the Hotel Electronic Distribution Network Association, or HEDNA. HEDNA’s Global Hospitality Payment Working Group is made up of representatives of major hotel chains, travel management companies, global distributions systems and third-party management specialists who have been working to assess key issues facing the hotel payments processing industry and develop recommendations and best practices for how to tackle them. HEDNA is one of the leading associations for collaboration across the industry, and Onyx strongly supports this alliance.

This group recently released “Future Best Practices in Hospitality Payments”, a white paper delving into key pain points, potential solutions and future best practices for three key areas: guest-centric payments, B2B payments and the commission model. Mike Carlo, our head of global payments, and others from Onyx helped lead the discussions regarding how to meet the challenges of the future and what key changes we see occurring in the payments arena. We will be sharing our take on these recommendations in the coming weeks, so stay tuned.

If you are interested in weighing in on the future of payments in hospitality, please contact Mike Carlo at mike.carlo@onyxcentersource.com and learn more about how you can get involved in the Open Payments Alliance.

These are exciting times for our industry. We look forward to the opportunity to forge new alliances that can help us meet the fast-moving challenges facing us all.

–CEO Mark Dubrow

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