PYMNTS MonitorEdge May 2024

Accor Selects Stripe as Primary Payments Partner Globally

Accor

Hospitality company Accor has selected financial infrastructure platform Stripe as its primary payments partner globally. 

After using multiple payment gateways with different providers, Accor is now working with Stripe to implement a single centralized system across all its hospitality properties for online bookings, the companies said in a Tuesday (June 11) press release.

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

Accor’s 40 hotel brands have a collective 5,600 locations in more than 100 countries, according to the release. 

The company aimed to establish an eCommerce platform that would offer not only rooms but also spa services, restaurants and unique experiences, the release said. 

As part of this project, it wanted to consolidate payments to simplify the booking process, per the release. It also wanted to redistribute funds depending on the products and services selected by the guest to meet the company’s internal needs.

With the implementation of Stripe replacing its previous systems, Accor has already seen a “significant” net conversion rate gain at the checkout step for prepaid bookings on its eCommerce channels, according to the release.

“Anyone who’s booked a hotel room knows the frustration when the payment doesn’t work as it should,” Eileen O’Mara, chief revenue officer at Stripe, said in the release. “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.”

Stripe reported in March that it surpassed $1 trillion in total payment volume in 2023, a milestone that meant that businesses running on Stripe accounted for about 1% of global gross domestic product (GDP).

As for Accor, it debuted an artificial intelligence (AI)-powered travel assistant through Amazon Web Services (AWS) in November. The assistant uses AWS’s machine learning and AI capabilities to learn guest preferences, which lets Accor cater to the needs of its “multimodal” travelers, those whose trips are a mix of work and vacation.