HB 337 1st Edition Lecture 8 Payment Technology Payment Methods o Cash o Debit card o Credit Card o Check Debit Card Online Offline Credit Card has Four Tracks o Track one Only alpha numeric Account holder name number country code expiration date o Track two Back up for track one o Track three can store up to 107 four bit plus parity bit characters o Track four optional track variable capacity often remains unused Card Recognition The first six digits of a credit card number determine which of the major credit card networks issued the card in question Credit Card Market Share o Visa 46 o Mastercard 36 o American Express 12 o Discover 6 Online Credit Card Payment Issues o Security Issues o Skimmers Revenue Management These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Computer Aided Program Determines whether the pricing and room allocation should be increased decreased or closed based upon an analysis of demand and competitive pricing conditions Functions of Computer Aided Program o 1 Pattern Recognition o 2 Analyze variables o 3 Heuristics o 4 Recommend actions Room Management can be established for o 1 Overbooking o 2 Discount Control o 3 Length of Stay Control o 4 Group evaluation o 5 Lead Times o 6 Packages