Wednesday, 12 June 2024 13:21

Stripe becomes Accor’s primary global payments partner Featured

By Gordon Peters
Eileen O’Mara, chief revenue officer at Stripe Eileen O’Mara, chief revenue officer at Stripe

Financial infrastructure platform provider Stripe today announced that it will become the primary payments partner globally for Accor—one of the world’s largest hospitality companies comprising more than 40 hotel brands in 5,600 locations across more than 110 countries.

Accor notes that it has a strong ambition to establish a comprehensive ecommerce platform offering a variety of services beyond rooms including spa services, restaurants, and even unique experiences - and it wanted to consolidate payments to simplify the booking process, and from an internal perspective, it needed to redistribute funds depending on the products and services selected by the guest.

“Previously, Accor used multiple payment gateways with different providers. With Stripe, Accor is implementing a single centralised system across all its hospitality properties for online bookings. Accor has already benefited from a significant net conversion rate gain at the checkout step for prepaid bookings on its ecommerce channels compared to previous systems. This has resulted in noticeable topline gains at the hotel level,” observes Accor.

“This partnership transforms the payment experience for hotels and guests alike, enabling the deployment of new payment methods at scale,” said Jean Noël Lau Keng Lun, Accor’s senior vice president of product management. “This improves conversion rates and also unlocks new business opportunities.”

“Anyone who’s booked a hotel room knows the frustration when the payment doesn’t work as it should,” said Eileen O’Mara, chief revenue officer at Stripe. “Accor is putting guests at the heart of its payments experience. And we’re thrilled to play a part in its strategy which benefits both the hotels and their customers.”

Accor says that by partnering with Stripe, it is unifying its multiple disparate payment systems, which were previously the source of inconsistencies between different payment methods - and Stripe will enable it to improve its management and financial data, enhance inventory distribution, and create a user experience that extends beyond just booking rooms.

Accor notes that it has already begun to see increased conversion rates and the partnership will also allow the company to:

  • Fight fraud proactively with Stripe Radar

  • Offer more payment methods to meet the needs of guests from around the world who prefer to pay with their preferred option

  • Simplify transactions between hotels and customers on the brands' sales platforms by leveraging Stripe Connect

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