Software Development Case Study

Reducing costs and risks with a tokenized payment system

Software Development Case Study

Reducing costs and risks with a tokenized payment system

Impact

Website conversions drove a 38%
increase in revenue
Tokenized payments and SEO drove a 42%
increase in conversions
Tokenized payment system eliminates cost and liability
for credit card data storage

The challenge

A leading hotel chain came to Nexient with three objectives: reducing the cost and effort associated with their online payment system and credit card security operations, increasing website conversions, and driving additional mid-week business.

Nexient solution

Nexient implemented a new tokenized payment system on a secured, encrypted third-party server.  This change eliminated the need to store customer credit card data as tokenization protects payment card data in transit – thus also removing the associated liability risk and costly annual Payment Card Industry Card Data Security Standard (PCI DSS) certifications.  Customers now have the option to use a guarantee method instead of a credit card to secure a reservation – a unique competitive edge for the hotel.

Working together with the client’s in-house team, Nexient developed a price optimization tool, giving member hotels more dynamic control over hotel stay price points.  For example, using online payment tokenization services, hotels can now establish different point values for a particular room depending on day of the week, rather than just the season of the year.

Better search engine optimization has enabled the client to attract more web site visitors – for example, allowing potential customers to search for desired amenities such as a swimming pool or free internet.  Enabling support for first-party rather than frequently blocked third-party cookies has helped the client improve its loyalty and conversion analytics.

A new tokenized payment system eliminated the cost and risk of storing customer credit card data

The results

The tokenized payment system results demonstrated increased revenue while reducing costs and risk

Due to Nexient’s software development consulting and development, the hotel group has seen a significant increase in midweek stays along with 42% growth in website conversions, resulting in a 38% increase in revenue.

The online payment system created as a result of Nexient’s software development services has also saved money and reduced risks. The new credit card payment tokenization system and alternative guarantee method have eliminated the maintenance costs and eliminated the liability associated with storing customer credit card data.

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