Bangkok, Thailand – 25 September 2024 – A newly launched B2B payment solution developed by Mastercard, a leading technology company in the payments industry, NTT DATA, a leading IT infrastructure and services company, and OneHotel, a hotel management software company, is paving the way for fast, simplified payment processing between online travel agents (OTA) and hotels in Thailand – transactions that have traditionally been associated with inefficient, laborious, and time-consuming processes.
Currently, when a reservation is made for a hotel through an OTA, the payment is sent from the OTA to the hotel either via bank transfers or through a virtual card, which is a dynamically generated 16-digit number for authorizing a one-off transaction, replacing the cardholder’s credentials so that sensitive account details are not exposed. However, bank transfers often take an extended period of time to clear, and virtual cards require hotel staff to manually process every single transaction once the details have been received.
This solution from Mastercard, NTT DATA and OneHotel digitizes and simplifies the payment process for hotels, effectively automating the processing of incoming virtual card payments, eliminating the need for manual reconciliation of individual transactions, and allowing payments from OTAs to be processed effortlessly. This enables all parties to benefit from the high level of security afforded by anonymized virtual cards, while helping hotels to improve operational efficiency, reduce human error in the billing process, and receive payments from OTAs quicker.
In its first run as a pilot program with KASIKORNBANK as the acquiring bank, with a specific focus on hotels with low acceptance rates of virtual cards, it has been estimated that a hotel with 500 weekly bookings on average could save up to three months’ worth of labor hours annually by switching to this solution. The new payment solution is now live with KASIKORNBANK’s hotel partners.
In particular, the solution is likely to benefit the country’s more than 26,000 small-to-medium-sized accommodation operators, for whom OTAs represent over 90 percent of their bookings[1].These smaller operators work with tighter budgets and smaller teams than larger operators, and given their reliance on OTAs for bookings, the potential savings in costs and time will be significant.
“It is gratifying to see NTT DATA’s virtual card straight-through solution significantly enhancing our customers’ operations and cash flow, while driving digital transformation and supporting the growth of businesses in Thailand,” stated Sutas Kongdumrongkiat, CEO, Thailand, NTT DATA. “We are excited to support the hospitality industry in its journey through this innovative partnership.”
Kritipaat Sowanitrakul, CEO of OneHotel, said: “In today’s dynamic travel landscape, innovation is key to optimizing operations and exceeding guest expectations. The payment solution eliminates manual processing, allowing our hotel partners to focus on exceptional guest experiences. This innovation enhances efficiency, streamlinesB2B payments, and positions OneHotel at the forefront of industry adaptation.”
Boonterb Chirapatr, First Senior Vice President, KASIKORNBANK, said: “KASIKORNBANK takes delight in empowering the tourism and hotel industry with our innovative B2B Payment services, in collaboration with Mastercard, NTT DATA, and OneHotel’s virtual card solution. This partnership aims to trim costs and boost management efficiency for hotel owners.”
The launch comes at an opportune time for Thailand’s tourism industry, with inbound travel in 2024 projected to fully recover to levels seen in 2019[2]. Hotels and accommodation operators can therefore expect a surge in bookings in the coming months, and having a digitized payment solution that streamlines processes and enhances efficiency is key.
Winnie Wong, Country Manager, Thailand and Myanmar, Mastercard, said: “Given the incredible popularity of online booking platforms among travelers, and the importance of tourism to Thailand’s economy, providing a solution that simplifies, digitizes and removes friction in the payment process for hotels and accommodation operators is crucial – especially as the sector gears up for full recovery post pandemic. Mastercard is pleased to be working with NTT DATA, OneHotel and KASIKORNBANK to introduce a seamless, secure and innovative B2B payment solution that addresses the pain points of tourism operators in this country and unlocks significant efficiencies for them, while creating a more unified payments ecosystem within the industry.”
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About NTT DATA
NTTDATA is a $30+ billion trusted global innovator of business and technology services. We serve 75% of the Fortune Global 100 and are committed to helping clients innovate, optimize and transform for long-term success. As a Global Top Employer, we have diverse experts in more than 50 countries and a robust partner ecosystem of established and start-up companies. Our services include business and technology consulting, data and artificial intelligence, industry solutions, as well as the development, implementation and management of applications, infrastructure and connectivity. We are also one of the leading providers of digital and AI infrastructure in the world. NTT DATA is part of NTT Group, which invests over $3.6 billion each year in R&D to help organization sand society move confidently and sustainably into the digital future. Visit us at nttdata.com
About OneHotel
OneHotel is a forward-thinking SaaS provider offering innovative cloud-based solutions for global hotel management. Its integrated platform includes Property Management, Channel Manager System, Revenue Management, and Virtual Payment Solution, streamlining operations and optimizing revenue. With a dedicated team and strong network of partners, OneHotel delivers tailored support and cutting-edge technology, positioning itself as a leader in hospitality technology and enhancing operational efficiency and guest satisfaction worldwide.
About KASIKORNBANK
KASIKORNBANKPUBLIC COMPANY LIMITED operates business in line with the principles of a Bank of Sustainability, focusing on delivering sustainable value to all stakeholders. This is achieved through good corporate governance and appropriate risk and cost management. KBank has unveiled our “3+1 Strategy”, building our strengths and enhancing our capabilities in several areas. Our strategic priorities are to reinvigorate credit performance, scale our capital-lite fee income business, and strengthen and pioneer sales and service models to reaffirm K PLUS’s leadership. Concurrently, the Bank has implemented strategies to help create new revenue in the medium- and long-term, while also enhancing our competitiveness via key enablers including technology, scalable data and analytics, and being a performance-driven organization.
About Mastercard (NYSE: MA) www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Communications Contact
NTT DATA Communications Contact
Jirapat Tangittipalakorn, Account Manager
Email: jirapat.tangittipalakorn@redhill.asia
Tel: +66-92-359-2969
OneHotel Communications Contact
Duangdao Boonyen, Marketing & PR Manager
Email: marketing@onehotel.asia
Tel: +66-2-077 4599
KASIKORNBANK Communications Contact
Rosawan Chanchenchop, Corporate Public Relations Unit, KASIKORNBANK
Email: rosawan.c@kasikornbank.com
Tel: +66-80-922-2233
Mastercard Communications Contact
Nan Apichaya, +66 65-7249238
nan.apichaya@mastercard.com
MastercardAgency Communications Contact
Wimonphan Nampachoke, +66 96-6699746wimonphan@vero-asean.com
[1]Figures provided by NTT DATA
[2]Mastercard Economics Institute’s "Travel Trends 2024: Breaking Boundaries"
