aye4fin supports HRS Subsidiary Destination Solutions
Cologne-based consultancy aye4fin has already assisted many companies in developing and launching innovative financial services and new business models. Now the fintech experts have also supported HRS subsidiary Destination Solutions in adding a payment solution to its existing business model.
Payment as a complement to the existing business model
Destination Solutions offers an all-in-one software solution for the online marketing of vacation accommodations, reducing the administrative effort for hosts to a minimum and maximizing booking utilization. The company, which has been on the market for over 20 years, has the largest distribution network in the DACH region with more than 150 portals.
In order to further expand its offering to its customers, Destination Solutions has decided to add payment functionalities to handle payments between guests, booking portals, agencies and hosts.
Previous Business Model – Without Payment
- Variable payment process methods and payment modalities per agency and per booking portal
- High complexity and partially customer-unfriendly processes
New Business Model – With Payment
- DS Payment Solution increases customer loyalty
- DS Payment enables uniform payment, disbursement and cancellation processes for both guests and hosts, regardless of booking portal
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Introduction of an integrated payment solution
Supported by the fintech experts at aye4fin, Destination Solutions outlined the new business model and gradually rolled out the payment offering.
Based on many years of experience, aye4fin was able to support Destination Solutions in the RFP process, selection and subsequent integration of a suitable payment service provider. The payment service provider Stripe was chosen, with the help of which Destination Solutions was able to win its first pilot customers quickly.
The outlook: Multi-Payout
Following the successful technical and process-related integration of the payment system into the existing software offering and based on the positive feedback from pilot customers, Destination Solutions and aye4fin now want to take the next step. By adding the so-called multi-payout functionality, all partners involved in the process (hosts, agencies, intermediaries and Destination Solutions) will be able to be paid out simultaneously and earlier – moreover, accounting processes can be streamlined.
- Takeover of payment processes between agency-host (reduces accounting effort)
- Fully automated processes for cancellations, booking changes, etc.
Lars Brinkmann, CTO of Destination Solutions says: “Together with the fintech experts at aye4fin, we succeeded in offering our customers further added value through the additional payment offering. aye4fin was instrumental in helping us adapt complex payment processes to different customer needs and business models.”