One of the biggest predicaments in the hospitality ecosystem is the lack of access to a single source of accurate, real-time data for meeting planners and hotels throughout the planning, booking, and payment process. Identifying the pain points in the payments process for group business, Onyx CenterSource has developed an automated system, GroupPay™, to meet the needs of all stakeholders. A comprehensive, cloud-based system, GroupPay brings transparency, faster payment, and simple billing reconciliation to the group, meetings and events market. According to Steve Reynolds, CIO of Onyx CenterSource, this was possible due to the unique position that Onyx has established within the hospitality ecosystem. Reynolds states, “We serve both hotels and the agencies relative to their payment processing needs, and therefore we have access to a comprehensive data set that no other competitor in the market has.” Developed with active engagement from industry partners around the globe, and utilizing patent-pending technology, GroupPay is designed to eliminate payment and commission disputes among meeting planners, hotels, and group clients that result from inefficient, antiquated, and often fragmented tracking systems. Serving both the hotel and meeting planner community, GroupPay provides greater accuracy for both. “We see ourselves as a solution provider that enables a seamless process from contract to commission payment,” says Mark Dubrow, President and CEO of Onyx CenterSource.
Providing B2B payments and business intelligence solutions to the hospitality industry on a global scale, Onyx CenterSource sits at the center of the hospitality industry. “In April of 2013,a private equity firm acquired Pegasus Financial Services. We then formed an independently operated business, Onyx CenterSource,” mentions Dubrow. Since then, the company has grown rapidly to facilitate more than $2.1 billion in payments annually, partnering with more than 150,000 hotels and 200,000 travel booking providers in more than 160 countries around the globe.
Onyx CenterSource has been helping its clients boost revenue and earn more customers for decades. Along with GroupPay, the future of Onyx CenterSource’s success lies in more B2B payments solutions that go beyond commissions as well as analytics and business intelligence offerings tailored for the hospitality industry. “With the expansion in our solution portfolio, we have also advanced our technology to support our long-lasting relationships with customers, providing consultative insights and cost-effective solutions,” says Reynolds.
We serve both hotels and agencies for their payment processing needs and have no other competitor in the market today that serves both sides of the hospitality network
As the market evolves, Onyx continues to develop new and innovative payment solutions for the complex hospitality value chain.