Is hidden cash in hotel rooms a sign of changing payment demands from customers?
By Jennifer Conneely, Board Member of the DCC Forum
What this highlights more generally though is that Brits don't want to use cash for the bulk of their holiday transactions. It makes them feel nervous and they spend time identifying a suitable hiding place instead of enjoying their time in hotels and exploring the destination.
In response to this, hotels should ensure that they're prepared for their guests to make the majority of their payments using credit or debit cards, or even newer ways of paying such as contactless or smartphone payments. Our research found that 1 in 3 Brits no longer buy any foreign currency before heading abroad on their holidays. 62% have made at least one payment on holiday this last year with a credit or debit card, while 6% have made a contactless payment, and 3% a smartphone payment.
As the use of credit and debit cards in hotels continues to rise, those in the hospitality industry need to be able to inform their customers as to the payment options available to them. This includes the choice between opting to make a card payment in the local currency, or in their home currency using dynamic currency conversion (DCC).
British tourists have been quick to embrace a more cashless society, but they are not alone. People from all over the world want a more secure way of paying than cash, and hotels need to be ready to provide these services. Even the biggest hotels need to ensure that all of their staff understand these nuances and do everything they can to help their customers not have to stash their cash in their socks any longer.