Payment and Settlement
For the DMO
The DMS is typically integrated with a 3rd Party payment provider such as Secure Trading for the processing of credit card transactions. The system takes the card and payment details at the time of booking and stores them in an encrypted format ready to be verified and processed.
The system is typically set up to process online bookings in real-time and call-centre/tic bookings via a batch process, although this is entirely configurable to the way in which the DMI wishes to operate.
Similarly, payments for providers using the Availability Extranet can be set up with a number of different payment models – e.g. % of first night, % of whole stay, full payment up front etc. In the case of the 2 former options, the DMO would take the commission up front and the balance would be paid directly to the provider on checkout. In the case where full payment was taken, then reports exist to notify the provider how much they need to invoice the DMO for payment, less the commission and booking fees applied.
For Providers
Payment, Settlement and Banking Services are part of the overall solution, providing product providers with access to true e-commerce services in a less onerous fashion and at competitive merchant rates. Each product provider is set up as their own online merchant and with a 100% online payment model, businesses will benefit from improved cash flow as they receive the full value of the booking only 2 – 3 days after the transaction. eviivo manages the payment and settlement of all fees and commission owed to other parties including the DMO, simplifying an otherwise complex and difficult process.
