Accor partners with Stripe to streamline global payments

Accor has announced a new partnership with Stripe to enhance its payment processes across its extensive hospitality portfolio. This collaboration aims to provide an optimised customer experience for its 5,600 establishments globally, including those in Australia. The initiative comes at a time when Australia's tourism sector is showing promising signs of recovery, with international arrivals expected to surpass pre-pandemic levels by next year.

The partnership with Stripe enables Accor to consolidate its previously disparate payment systems, addressing inconsistencies that had arisen from using multiple providers. Stripe's services are expected to improve management and financial data, enhance inventory distribution, and provide a streamlined user experience that extends beyond just booking rooms.

Accor has already reported increased conversion rates since Stripe's services were implemented. Additionally, the partnership will help Accor proactively combat fraud through Stripe Radar and offer a wider range of payment methods to cater to guests' preferences worldwide. Stripe Connect will further simplify transactions between hotels and customers on the brand's sales platforms.

Jean Nol Lau Keng Lun, Senior Vice President of Product Management at Accor, highlighted the partnership's transformative potential. "This partnership transforms the payment experience for hotels and guests alike, enabling the deployment of new payment methods at scale," he said. "This improves conversion rates and also unlocks new business opportunities."

Previously, Accor operated with multiple payment gateways from different providers. The switch to Stripe introduces a single centralised system for online bookings across all its properties. Compared to the previous systems, Accor has seen significant net conversion rate gains at the checkout step for prepaid bookings on its eCommerce channels. This has led to notable revenue increases at the hotel level.

Eileen O'Mara, Chief Revenue Officer at Stripe, emphasised the importance of a seamless payment process in enhancing customer satisfaction. "Anyone who's booked a hotel room knows the frustration when the payment doesn't work as it should," she stated. "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."