ReadWrite | Donal McGuinness, CEO of Prommt

“The rise of Millennial and Gen Z powerhouses and how they are shaping the shopping landscape, is forcing companies to adapt or risk being left behind,” writes Donal McGuinness, CEO of Prommt.

From embedded payment links to open banking, the key to winning over Millennials and Gen Z lies in aligning your payment solution with their expectations. This cohort craves convenience, personalisation, and a frictionless checkout process that mirrors their fast-paced lives. Here are five ways to effectively capture this dynamic duo’s demands for flexible payments and connected shopping experiences.

HOSPA  | Euronet Merchant Services

In the fast-paced world of modern hospitality, managing customer payments can be a challenging endeavour. Hotels often  face compliance requirements, the risk of data breaches, and the vulnerability to fraud and chargebacks. Additionally, customers may feel uncomfortable sharing their sensitive details over the phone.

To address these concerns, Euronet Merchant Services has partnered with Prommt to provide an innovative payment solution that not only reduces risks, but also delivers an elegant and secure payment experience consistent with the hotel’s brand identity.

Minute Hack | Donal McGuinness, CEO of Prommt

Millennials and Gen Z trust payment technology, have a better eye for spotting fraud, and welcome innovations that facilitate frictionless payments. What sets them apart is their innate comfort with technology, coupled with a strong preference for digital and mobile payment methods. They want “invisible” payments that seamlessly integrate into their daily routines.

As these younger generations gain financial independence, their economic influence continues to grow, reshaping the future of payments. To stay ahead of the game, businesses must adapt and cater to their unique expectations. Here are the top three traits today’s shoppers desire in payment experiences.

The Overview, HOSPA

Fighting fraud is an ongoing battle in the hospitality sector. Recent industry alerts have highlighted a concerning uptick in card fraud and chargebacks created by fraudsters piggybacking on OTAs. This poses risks to hotels’ revenue, reputation, and customer confidence.

How can hotels fortify their fraud prevention strategies?

Retail Jeweller, August 2023

The world of online banking and payments can feel like a rabbit hole; once you fall down it, there are many different (and often confusing) things to consider. Prommt has been featured in the latest issue of the Retail Jeweller, exploring ‘open banking’ and how it is helping luxury jewellers fight fraud in a challenging economic climate.

Bank of Ireland | Think Business

According to data from TechIreland, investment in Irish fintech businesses was up 37% to €363m in 2022.  As well as being a magnet for global financial services, Ireland boasts a powerful line-up of young but globally-focused fintech players. Here are 20 to watch.

Podcast | Irish Tech News

Listen to the latest podcast by Irish Tech News featuring Donal McGuinness, CEO of Prommt, as he delves into his background, the evolution of digital payments, fraud prevention, open banking, and Prommt’s growing influence within the realm of remote payments.

Webinar

Listen to hoteliers and expert payment leaders discuss how the latest innovations in payments can drive revenue, reduce costs and optimise the guest experience. This webinar is brought to you by HOSPA and Prommt and includes experts from The Strand Palace Hotel, Euronet and FreedomPay.

Companies Digest

The resurgence of travel in 2023 is seeing guests return with an increased appetite for bold adventures, luxurious stays, and tailored experiences that cater to their unique preferences. The post-pandemic era of travel presents exciting business opportunities, but the road to recovery has not been smooth with increasing inflation, supply chain disruptions, staffing shortages, and soaring energy costs. With the current challenges faced by the industry augmented by higher guest expectations, there needs to be a shift from viewing payments as a back-end function to recognising that payment is the first interaction a guest has with your brand, and, furthermore, that innovation in remote payments is a lever for profitability.