3 simple ways to improve how your properties get paid
Booking.com offers two payout models for properties: the Virtual Credit Card (VCC) model, which is popular with partners who prefer to handle payments on their own, and the Bank Transfer (BT) model, which is available for partners who sign up for Payments by Booking.com. Since we first introduced these two models, properties have shown a great appetite and need for it, which has led to high adoption rates in some regions, particularly in areas where alternative payment methods like PayPal and WeChat are popular
Payments are transforming ecommerce and will be vitally important in the travel industry going forward. In order to keep up with ongoing developments, in Connectivity we now offer three features that can help your properties manage payments facilitated by Booking.com. Some of these are old and you might already be using them, but some may be new to you.
Payments Clarity Package (vcc_payment_v2)
Implementing this can reduce up to 65% of VCC charge failures for connected properties. It provides key information:
- Current VCC balance
- VCC activation date
- VCC expiration date
- Price details (taxes and charges)
All of these help the property know when to charge the VCC and by how much. They also give additional useful information on the price breakdown.
Get extra information for reservations (res_extra_info)
This is an older feature that you might already be familiar with. It provides additional information about every reservation - for example, if an arriving guest is a Genius or Business Booker. In the context of payments, this feature can be crucial, as it can help partners quickly and easily identify whether a payment was facilitated by Booking.com and which payout method was deployed – VCC or BT. This is very important to avoid potential double charges of guests. Another great benefit about this detail: since it is machine readable, properties can easily connect it to a Payment Service Provider.
Payment Charges (res_payment_charges)
This is a new feature created specifically to facilitate Bank Transfer payouts. It indicates the amount of the payment charge, which can, in turn, be used to automate accounting processes. This one is also machine readable, making it easy to integrate into accounting systems.
Three ways to improve how properties get paid
We know from looking at our own data that properties using these features produce less inbound service requests around the topic of payments and VCCs. But they can also be a great way to further automate the service you provide and enhance your properties’ efficiency around getting paid. Ultimately, we think that implementing these three options will result in smoother operations and a better guest experience - businesses almost always benefit from having as much detail around payments as possible.
How to turn them on
All three of these options are now available. When you’re ready to implement, navigate to the Administration section of the Provider Portal and click on Feature Management. Then, simply toggle the switches on for each one.
- The Payments Clarity Package can reduce Virtual Credit Card (VCC) charge failures by up to 65%
- Get extra information for reservations to help properties quickly distinguish between VCCs and Bank Transfers (BT)
- Offer properties a way to automate their accounting processes with Payment Charges feature