Industry Association Eases Acceptance of Virtual Credit Cards By Hotels
Tuesday, May 19, 2015
CHICAGO (May 19, 2015) Hotel Technology Next Generation (HTNG), the membership association that unites the world’s hospitality companies and technology innovators to solve industry challenges, announced the release of the Virtual Payment Cards Specification, which provides a standard mechanism for hotels to distinguish virtual cards from traditional cards and handle them more efficiently.
Virtual credit cards have been used very commonly in recent years by Online Travel Agents (OTA) to pay hotels for pre-paid or merchant bookings. They are now becoming more popular and being used by Global Distribution Systems (GDS) for corporate travel as well as hotel chains to pay their hotels for pre-paid bookings on the brand website. Hotels struggle to properly handle these transactions because there is no systematic way to differentiate a virtual card from a standard card based on the information in the reservation, and there are specific business rules related to each payment that are currently being communicated through off-line faxes and emails. This creates inefficiencies and confusion, resulting in guest service issues and declined payments.
Once the new Virtual Payment Cards Specification standards are implemented around the various systems involved, distributors will no longer have to send faxes or emails to hotels to communicate the business rules for each payment, and hotels will find it much simpler to accept this type of payment.
The full HTNG Virtual Payment Cards Specification document is available at: https://collaboration.htng.org/Virtual Payment Cards.
About Hotel Technology Next Generation
The premier technology solutions association in the hospitality industry, HTNG is a self-funded, nonprofit organization with members from hotel and hospitality companies, technology vendors to hospitality and other industry members including consultants, media and academic experts. HTNG's members participate in focused workgroups to bring to market open solution sets addressing specific business problems. HTNG fosters the selection and adoption of existing open standards. Where necessary, it also develops new open standards to meet the needs of the global hospitality industry.
Membership in HTNG is open to hotel and hospitality companies, technology vendors to hospitality, consultants, academics, press and others. Currently more than 400 corporate and individual members from across this spectrum, including most of the world's leading hotel companies and technology vendors, are active HTNG participants. HTNG's Board of Governors, consisting of 21 top IT leaders from hotel companies around the world, itself has technology responsibility for about three million guest rooms. HTNG publishes workgroup proceedings, drafts and specifications for all HTNG members as soon as they are created, encouraging rapid and broad adoption. HTNG releases specifications into the public domain as soon as they are ratified by the workgroups. For more information, visit www.htng.org.