CWT Unveils Revolutionary Centralized Payment System for Hotel Bookings in China

Wednesday, April 3, 2024

CWT has launched a comprehensive, centralized payment system for hotel reservations in China, developed in collaboration with corporate payment experts AirPlus. This innovative system is incorporated into the myCWT platform, accommodating both independent bookings through the myCWT web and mobile applications, as well as those facilitated by travel counselors. It encompasses all varieties of hotel offerings, including CWT corporate rates, client-specific negotiated rates, and non-GDS content acquired through aggregators and direct API connections with hotels.

This payment solution simplifies the booking process by using the company’s payment details at the time of booking to settle room charges and deposits, eliminating the need for travelers to present a credit card at check-in, handle payments at check-out, or manage invoices for reimbursement. Instead, companies receive a unified monthly statement detailing all bookings, presented in a single, detailed invoice that simplifies VAT recovery and expense tracking.

“This new solution will address several major pain-points for our customers,” said Albert Zhong, General Manager, China, CWT. “The adoption of corporate credit cards and virtual cards in China is relatively low compared to many other markets around the world. Business travelers here usually first pay for travel expenses out of their own pocket, and then submit tax invoices for all these expenses to get reimbursed. A central payments solution not only creates a much better experience for travelers, it can also help companies gain greater control over their spend, increase policy compliance, improve hotel attachment rates, reduce the risk of fraudulent transactions, and streamline invoice reconciliation.”

CWT has successfully implemented central payment options for air and rail services in China, which have been embraced by its clientele. The introduction of central payments for hotel bookings has already attracted early adopters from the energy and life sciences sectors. Within the first three months, these companies reported a 50-60 percentage point increase in hotel booking rates and a 20 percentage point rise in the utilization of corporate-negotiated hotel rates.

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