Fintech Stripe Becomes Primary Global Payments Partner for Accor

Stripe, a financial infrastructure platform for businesses, has announced that it will become the primary payments partner globally for Accor—one of the world’s largest hospitality companies comprising more than 40 hotel brands in 5,600 locations across more than 110 countries.

Accor has a sharp focus on establishing a comprehensive e-commerce platform offering a variety of services beyond rooms “including spa services, restaurants, and even unique experiences.”

It wanted to consolidate payments “to simplify the booking process, and from an internal perspective, it needed to redistribute funds depending on the products and services selected by the guest.”

Previously, Accor used multiple payment gateways with different providers.

With Stripe, Accor is implementing “a single centralized system across all its hospitality properties for online bookings.”

Accor has already benefited from a significant net conversion rate gain “at the checkout step for prepaid bookings on its ecommerce channels compared to previous systems.”

This has resulted in noticeable “topline gains” at the hotel level.

Jean Noël Lau Keng Lun, Accor’s senior vice president of product management:

“This partnership transforms the payment experience for hotels and guests alike, enabling the deployment of new payment methods at scale. This improves conversion rates and also unlocks new business opportunities.”

Eileen O’Mara, chief revenue officer at Stripe said:

“Anyone who’s booked a hotel room knows the frustration when the payment doesn’t work as it should. 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.”

As covered, Stripe is a financial infrastructure platform for businesses.

The Fintech says that millions of companies—from the world’s largest enterprises to the most ambitious startups—use Stripe in order “to accept payments, grow their revenue, and accelerate new business opportunities.”

Headquartered in San Francisco and Dublin, the company aims “to increase the GDP of the internet.”

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