Hotel payment brands TerraPay and XanderPay introduce customized payment model designed for hotels and property managers
In a groundbreaking move, TerraPay and XanderPay have announced a strategic partnership aimed at revolutionizing the hospitality industry's payment systems. This collaboration introduces the first payment model specifically designed for hotel brands and property owners, offering a wide range of benefits and features to simplify and digitalize international payments.
Mike Carlo, CEO of XanderPay, stated that the partnership will accelerate the move to guest-centric payments and unlock operational efficiencies. Koert Grasveld, Vice President Payments at TerraPay, added that the partnership aims to adapt B2B payments to incorporate the most suitable payment option.
The TerraPay-XanderPay collaboration provides hotels with a unified platform for financial management, offering a single point of control over international payment flows. This simplifies the complexity of handling cross-border transactions, enabling greater visibility into and control over these processes.
The partnership significantly reduces reliance on traditional systems like SWIFT, known for their high fees and slow processing times. The integration of TerraPay and XanderPay's technologies leads to significant operational time savings for hotel properties, streamlining payment processes and reducing manual intervention.
Hotels benefit from accelerated settlement times for international payments, enhancing cash flow and financial planning. The solution is designed to simplify cash flow management, reduce costs associated with cross-border transactions, and eliminate complexity in processing third-party bookings.
By adopting digital payment technologies, the partnership enhances the guest payment experience and supports hotels in moving away from traditional, slower payment methods. The new payment model offers hotels the flexibility to select the most efficient payment method from their partners.
The collaboration between TerraPay and XanderPay is expected to optimize financial operations and improve treasury management for hotels. As the travel industry undergoes digital transformation, this partnership is expected to drive innovation in hospitality payments, particularly in eliminating friction at check-in and creating seamless guest experiences.
In conclusion, the TerraPay-XanderPay partnership is set to redefine the hospitality industry's payment landscape, offering a more efficient, transparent, and speedy solution for hotels worldwide. The partnership lays the foundation for innovation in hospitality payments, making international transactions easier, faster, and more cost-effective for hoteliers.
- This strategic partnership between TerraPay and XanderPay is expected to optimize financial operations and improve treasury management for hotels, by adopting digital payment technologies and enhancing operational efficiencies.
- The TerraPay-XanderPay collaboration provides a unified platform for financial management, aiming to adapt B2B payments to incorporate the most suitable payment option, reduce costs associated with cross-border transactions, and eliminate complexity in processing third-party bookings.
