The Importance of a Seamless Owner Payment Experience

Nine out of 10 travel providers agree that that the easier it is for a customer to pay, the happier the customer will be.

How happy are your owners with their payment experience?

It’s an important question for timeshare brands to answer. Timeshare owners rank consistent vacation experiences as the most important part of their ownership, according to ARDA’s December 2023 Vacation Ownership Sentiment Index; and consistent vacation experiences start with reliable and easy ways of paying for them.

What are the Main Payment Experience Issues Impacting Timeshare Companies?
Overlooking an owner’s payment experience can create friction and confusion within the ownership journey, which can be off-putting for valued owners and result in an increase in short or delinquent payments.

The following major hurdles are the most common issues timeshare companies face:

• The inability to offer valued members and owners a seamless payment experience with local currency and payment methods.
• Confusing fee structures and costly payment processing options.
• A lack of integration with third-party systems, creating more manual work for back-office and leading to inefficiencies in business processes.
• Complexity related to the collection of HOA and other fees due to increased international ownership. Challenges include being able to process payments in foreign currencies and with localized payment methods.
• The struggle to adhere to constantly changing data and security regulations coming from national and state levels to ensure the security, reliability and compliance of payments processed.

How Can Flywire Help?
Flywire can help companies tackle the challenges associated with owner payment experiences. Companies that partner with Flywire get:

• The ability to enhance their vacation ownership payment processes by leveraging Flywire’s platform to streamline booking, track and reconcile payments efficiently, resulting in improved cash flow and a significant reduction in administrative workload.
• The ability to significantly reduce international wire and merchant fees for their owners providing payment processing fee savings.
• The opportunity to provide international owners with the option to securely pay in 140+ currencies via a variety of payment methods, including wire transfer, credit card, and digital wallets.
• Around-the-clock payment support in multiple languages, including support for refunds and chargebacks.

To learn more about Flywire and how it can help your business, visit: www.flywire.com