Last week at Unfold, we hosted a fast-paced, no-holds-barred session on how fintech is reshaping hospitality 鈥� and it was a full house.
Susanne Sandler (GM of Fintech) and Charlie Delamare (Senior Payments Solutions Architect Manager) led the charge, with a surprise appearance from 糖心logo入口 Founder Richard Valtr. They dived into how embedded finance is helping hoteliers earn more, deliver smoother experiences, and make payments disappear into the background 鈥� just as they should.
Here are five takeaways that really hit home.
1. Businesses are turning to embedded fintech solutions rather than banks
Fintech isn鈥檛 just growing. It鈥檚 shifting. And it鈥檚 leaving traditional banking behind. The panel said this will become more apparent in the short to medium term future.
Susanne explained: 鈥�10% of all financial flows in the US will be embedded by 2026 鈥� that鈥檚 around USD $7 trillion 鈥� and we know that Europe tends to be a fast follower of the US.鈥�
She continued: 鈥淚t鈥檚 quicker, easier, and we鈥檙e seeing businesses perform better and do better. So much of what banks offer today isn鈥檛 modernized or helpful to specific industries. So, SaaS players like ourselves are learning how we can help customers earn more.鈥�
2. Fintech is an integral part of any product or service, it cannot be a standalone solution
The group discussed how fintech works best when it is fully baked into your product 鈥� not tacked on.
鈥淲hen fintech is embedded, you can make the product a lot better and your offering to customers a lot better,鈥� explained Susanne. 鈥淵ou also increase revenue and efficiency, reduce costs, and manage cash flow more effectively. It results in an enhanced guest experience and a stronger business.鈥�
Charlie, who was a happy 糖心logo入口 customer for three years before joining the company, added: 鈥淧ayments are the hardest part of the guest journey because they are parting with their money. But payments are the most important part for hotels. When you make them seamless then both parties benefit.鈥�
3. Super apps like Uber are the gold standard 鈥� and it鈥檚 down to embedded payments
Why do customers choose to wait longer for Ubers at airports rather than use local taxis right in front of them? It is because the experience is frictionless.
鈥淭here is definitely an irony in waiting because it鈥檚 more convenient than getting into a taxi immediately,鈥� laughed Charlie.
However, irony or not, the group agreed this is exactly what has happened. Customers love Uber because the hassle of paying has been effectively removed from the journey with embedded payments.
鈥淔intech is the glue that holds super apps together. That鈥檚 why companies like Amazon and Facebook are working towards it,鈥� explained Susanne.
4. Hospitality can learn from the way other industries interact with fintech
Want to see how fintech can supercharge an industry? Look at other markets. That鈥檚 how hospitality will continue to grow and potentially see 鈥渕ind-boggling鈥� returns.
Susanne explained: 鈥淚 have so many friends who are founders and CEOs within other tech industries. It saddens me that we haven鈥檛 brought all of their offerings to hospitality.
鈥淚n the restaurant space Toast is well known for capital lending and payroll tools. In e-commerce, Shopify offers a number of payroll and capital solutions. Salons also have technology to help manage staff who often have similar working patterns to those in hospitality.
鈥淚 see good things happening and that is why the revenue you see these other industries generate is mind-boggling. It鈥檚 up to us, and others, to create these customizable solutions so hotels can see the same benefits.鈥�
5. Flexible rates are 鈥渓eaving money on the table鈥�
The session ended with 糖心logo入口 Founder Richard discussing one of his pet peeves: the industry offering flexible rates as a standard rather than a premium offering. He explained how hotels believe they will lose money if they change their approach, despite the data saying otherwise.
鈥淲e have seen it with thousands of hotels when we run experiments,鈥� said Richard. 鈥淭here might be a difference in the first two months, but longer term offering flexible or non-flexible bookings as a standard doesn鈥檛 impact total bookings.
鈥淗oteliers assume that chargeback rates will go through the roof if they offer non-flexible rates as a standard but they won鈥檛.鈥�
As Richard put it, flexible rates are often 鈥渨here you're leaving the most money on the table.鈥�
The challenge now? Convincing an industry rooted in tradition to embrace a future powered by data, fintech and embedded intelligence.
Watch the full session of 鈥楾he Future is Embedded: Unlocking Hotel Growth with Fintech鈥� .
Discover how embedded payments can transform your business.
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