How can you securely transmit the payment
Both travel suppliers and distributors deal with multiple third parties in the value chain to deliver the final product. In this complex scenario of data exchange between multiple players, it is vital to securely transmit the data along the value chain and also provide a good user experience for repeated purchases or subscription payments. Tokenization acts as a cornerstone to achieve these requirements.
FinMont provides a universal token that you can safely use across multiple gateways and acquirers in a PCI DSS compliant environment. In contrast, gateways and acquirers generate tokens that only work on their platform. FinMont will replace your payment information with random token numbers, and your business will never store your real payment information. This makes sure that hackers can’t use the stolen information to commit fraud. This removes your risk of a data breach.
How can you hedge your
Travel distributors and suppliers will get the full amount from the passengers and give some of the total amount to other parties involved in the travel product being offered. Because of the global nature of the travel industry, the difference in timing in subsequent payments introduces currency volatility risk.
FinMont’s payment orchestration platform is linked to the major currency platforms on the market. This means that you don’t have to do your own integration and that you can use the best tools on the market to create flexible hedging strategies that fit the needs of your business. FinMont will help you manage your booking exposure and profit margins.
How to stay on top of the travel?
The New Distribution Capability (NDC) channel is a new standard for how airlines sell their tickets. Its goal is to give customers more content, more personalized offers, and a better booking experience. NDC One Order replaces the traditional multi-component booking model with a single, unified booking record that includes all parts of a trip, such as flights, ancillary services, and accommodations.
In the hotel industry, OPA is an industry-wide joint initiative led by HEDNA aimed at creating a totally streamlined B2B payment ecosystem.
These standards are always being improved, and there are still differences in implementation between different travel industry stakeholders. FinMont, a company that specializes in travel payment orchestration, is in charge of keeping up with these requirements and making it easy for you to switch and update different industry standards by keeping the existing legacy processes intact from a payment perspective.
How can you use direct integration with your booking engine and back-office
For travel suppliers and distributors, integrating the booking engine and back-office system with the payment system can have a number of benefits, such as a smoother booking process, lower processing fees, better payment security, more revenue, better data management and reporting, less chance of mistakes or discrepancies, and more payment flexibility. Using this strategy, travel merchants can make their customers happier, cut costs, and make their business run more smoothly.
FinMont’s payment orchestration platform is already connected to the major booking engines in the travel industry’s different verticals, and we will keep adding more to the list. FinMont’s direct integration with your chosen booking engine and back office system will help you track and manage the flow of payment data with higher operational efficiency and lower costs on the front end and back end, which will ultimately lead to better customer satisfaction.
- More ways to pay: FinMont’s payment orchestration platform can give customers more ways to pay, like mobile payments or digital wallets. This can make it easier for customers to finish their reservations and improve their experience overall.
- Improved payment security: Advanced fraud prevention and detection technologies, secure payment gateways, and other payment security features can all be used by FinMont’s payment orchestration platform to increase payment security. This can lower the possibility of fraud and data breaches and safeguard consumers’ sensitive payment information in both B2C and B2B sales.
- Improved customer service: By simplifying and streamlining payment processing, FinMont’s payment orchestration platform can help OTAs respond to customer inquiries and requests more quickly and efficiently, enhancing the overall customer service experience.
- Improved payment processing: FinMont’s payment orchestration platform helps simplify and streamline payment processing, requiring less manual involvement and providing clients with a better overall payment experience. Faster payment processing and fewer payment errors may result from this.
- Centralized payment management: FinMont’s payment orchestration platform offers centralized payment management, which makes it easier and more effective for hospitality providers to handle payment processes. This can reduce costs and improve operational efficiency.
- Better payment data management and reporting: FinMont’s payment orchestration platform can give hospitality providers more detailed information about payment transactions, revenue, and other metrics. This can enable better decision-making and optimization of business processes.
- Improved audit and risk analysis: Real-time reporting should be easy to use. With real-time data from our customized audit service, you can simply share updates and reports with regulatory agencies and organizations including the ETOA, CAA and ABTA.
- Increased payment flexibility: FinMont’s payment orchestration platforms can offer greater payment flexibility to customers, allowing them to choose from a wide range of payment methods and options, such as mobile payments or digital wallets. This can improve the overall customer experience and make it easier for customers to complete their ancillary bookings.
- Improved customer service: By simplifying and streamlining payment processing, FinMont’s payment orchestration platform can help tour and activity booking platforms respond to customer inquiries and requests more quickly and efficiently, enhancing the overall customer service experience.
Our Co-Founders and CEO have extensive
Our Co-Founders, Hans Nolte and Nikolaus Gormsen, are the owners of Hahn Air and have a track record of success and 80 years of combined experience in the travel sector. Hahn Air has more than 350 airline partners, and over 100,000 travel agencies use Hahn Air’s services globally. Apart from managing an airline, Hans is one of the first visionaries in the 1980s to understand how to use software to produce customized tours by unbundling them. Hans and Nico also oversee hotels and event venues.
Our CEO, Dr. Suby Valluri, is a software engineer and economist with 15 years of working experience in the travel, payments, and eCommerce sectors. Because he has a unique set of skills, he helps us come up with new and useful ways to meet the payment needs of the travel industry.
FinMont has been developed to address genuine issues in the travel and hospitality sectors. Our industry experience is fueling the success of our customers.
Acquirers, PSPs & Aggregators
Travel supported Alternative Methods of Payment (APMs)