After a tumultuous period of disruption, the travel industry is recovering steadily. In August 2023, industry-wide revenue passenger kilometres hit 95.7% of their pre-pandemic level.
But as customers regain the confidence to travel, it’s clear that their expectations have changed.
Having grown accustomed to digital-first connectivity, travellers now expect fast, intuitive and hyper-personalised experiences across the entire customer journey. This extends to how they pay for what they buy along the way.
In fact, 90% of customers now see payments as important to their overall travel experience. They want flexible and joined-up payment experiences, in the right place, at the right time.
This includes supporting the full range of local, alternative, and digital wallet-based payment methods. It also means providing contextual value-adding services such as ancillary services, tailored loyalty programs and flexible exchange policies.
But this is easier said than done when managing a highly complex travel and hospitality ecosystem. After decades of disparate tech adoption, airlines must deal with a sprawling network of payment systems and processes, spanning booking companies, in-transit services, payment gateways, fraud security platforms and acquirers.
None of these were designed to interoperate natively, and many systems are straining under the complexity of the infrastructure. This also makes it difficult to adopt and scale new payment options and context-relevant services across the global value chain.
This paper will go into depth on how you can seize the $14 billion opportunity for airlines that strategically address payments. We’ll also outline how you can simplify the back-end payment journey through orchestration and create a comprehensive marketplace to unlock both new and recurring revenue streams.
After a tumultuous period of disruption, the travel industry is recovering steadily. In August 2023, industry-wide revenue passenger kilometres hit 95.7% of their pre-pandemic level.
But as customers regain the confidence to travel, it’s clear that their expectations have changed.
Having grown accustomed to digital-first connectivity, travellers now expect fast, intuitive and hyper-personalised experiences across the entire customer journey. This extends to how they pay for what they buy along the way.
In fact, 90% of customers now see payments as important to their overall travel experience. They want flexible and joined-up payment experiences, in the right place, at the right time.
This includes supporting the full range of local, alternative, and digital wallet-based payment methods. It also means providing contextual value-adding services such as ancillary services, tailored loyalty programs and flexible exchange policies.
But this is easier said than done when managing a highly complex travel and hospitality ecosystem. After decades of disparate tech adoption, airlines must deal with a sprawling network of payment systems and processes, spanning booking companies, in-transit services, payment gateways, fraud security platforms and acquirers.
None of these were designed to interoperate natively, and many systems are straining under the complexity of the infrastructure. This also makes it difficult to adopt and scale new payment options and context-relevant services across the global value chain.
This paper will go into depth on how you can seize the $14 billion opportunity for airlines that strategically address payments. We’ll also outline how you can simplify the back-end payment journey through orchestration and create a comprehensive marketplace to unlock both new and recurring revenue streams.
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