Consumer expectations tend to be higher when they are enjoying their free time. The last two years have meant that, after efforts to stay open, restaurants and hotels have a much more demanding clientele and that the sector has to renew your payment method proposal to adapt to market needs.
For this reason, at Adyen we analyze the key elements that condition the transformation and digitization of the hospitality sector within the Spanish industry to understand the direction and transformation of payments.
Deferred payment to attract new customers
The last Adyen Report on Payment Methods 2022 revealed that only 33% of restaurants offer deferred payment alternatives in Spain, an option that is increasingly in demand. At the same time, it is beginning to be observed how reservations with deferred payment in vacation hotels are becoming one more option for consumers. In fact, half of the hotels in our country already allow to pay the stay deferred (50%) in order to reach a greater number of customers. The number of people who opt for this alternative in Spain is specifically 33%. By analyzing this payment method by sectors, we can identify that where it is most used is in appliances (24%), electronics (19%) and travel (15%).
In turn, the Adyen Retail Report 2021 showed how to 24% of users would like restaurants to use technology to enhance their experience, for example by implementing self-service kiosks or pay-at-the-table technology. However, for this it is necessary to adopt more advanced technology to lead the change and have a greater competitive capacity.
Tokenization, greater flexibility when paying
Although Spain is one of the most advanced countries in terms of digitization, it is not so advanced in terms of payments due to regulations. Despite the fact that hotels know that they cannot ask for card data by phone or take them physically, these behaviors continue to be carried out. Despite the fact that the pandemic has caused many sectors to go digital in payment experiences and adopt new habits, such as having a QR code instead of a printed menu, or allowing payment through e-wallets to reduce contact physical, much remains to be done.
For this, tokenization is essential, which favors the reduction of exposure of sensitive card data. How does it work? A hotel’s guest card details are captured during their online reservation, or at check-in, and data is encrypted and replaced with a secure token. This token can be used for all subsequent purchases. In fact, you can free guests of their cards for the entire experience.
Thanks to the token, it is possible to activate any device that has an NFC tag (be it a wearable, an access card or a room key) and the guest can use it to pay. This makes it easy to purchase hotel extras like booking spa treatments, for example, without having to present a card, enter a code or sign an invoice.
