Marcel van Oost’s Post

Focusing on security and speed for a super payment experience   Travel merchants have to ensure all key aspects of a payment experience i.e. security, trust, speed and convenience are top-notch. A slip up on any of the counts means that the association with the brand can also take a beating.   According to a study by TrueLayer this year, featuring over 4000 consumers, 64% of consumers consider security their highest priority when making online payments, 56% would have less loyalty to a brand if they experience a slow online payment process, 49% said they would avoid #payment methods that involve typing payment details, and 31% mentioned that said familiarity and trust were most important when trying a new payment method, higher than any other factor. Also, hidden charges kill trust. Hidden fees, variable prices or difficulties with discount codes can upset them.   Overall, 87% expressed at least some level frustration in making online payments.   It is also being highlighted that consumers are switching payment methods to gain the control they demand. So what should the payment mix look like for a travel shoppers in India vs. one from Singapore?   In its recent report, Outpayce from Amadeus shared that travellers are looking for transparency in foreign exchange. #Travel providers can look to improve the payment experience by pricing in the traveller’s native currency. Also, a being widely reported, cost-of-living pressures are a factor impacting discretionary spend.   What are payment-related priorities for merchants in Asia?   Hear from experts at the upcoming #ATPSAPAC, to be held in Bangkok on 22-23 August 2023:   https://lnkd.in/dbi7Saiq Ritesh Gupta Christopher Staab #travelpayments #paymentprocessing #airlines #paytech #fintech

Anuradha Murthy, Head - Partnerships & Alliance, PayU highlighted the importance of data insights in the travel industry, citing examples of how businesses can use data to target relevant segments and improve their return on investment. She also acknowledged PayU's efforts to facilitate payments and make them more accessible, with a focus on the knowledge behind those payments. To read more : https://shorturl.at/qJLP4 #ETTravelWorld #TravelIndustryInsights #DataAnalytics #PaymentsInnovation #BusinessIntelligence #TravelTech #DigitalPayments #PayU Shilpa Rathnam Anirban Mukherjee

The overwhelming success of Revolut’s partnership with Sabre Corporation is clear for all to see, as they seek to propel the B2B payments process for travel agencies. In less than a year, the pair have been able to on-board more than 40 customers and are changing the financial landscape for these companies. Revolut’s virtual cards are now generated within the Sabre Virtual Payments platform, allowing customers to easily pay airlines, hotels and other travel suppliers with enhanced flexibility and security. In turn, this means travel agencies using Sabre Virtual Payments are enjoying more streamlined and agile practices, personalisation and speed-to-market. "Revolut is excited to drive digitalisation in the travel sector alongside our partners at Sabre,” comments Will Hannan, Global Head of Embedded Finance Sales at Revolut. “Together, we are streamlining transactions through our suite of virtual cards, real-time foreign exchange and API-based payment products. We’ve brought our joint offering to dozens of businesses, and we look forward to delivering even more value to customers in 2024.” #Payments #Travel #Partnership

#Travel companies have realized that money is being left on the table when it comes to payment infrastructure and methods. As consumers increasingly turn to #digitalpayments both online and offline to complete their transactions, the #travelindustry must follow suit. Step forward Stripe, which is just one player in the growing digital payment ecosystem for travel. James Lemon, the company’s global lead for travel, leisure, transport and automotive, stopped by the PhocusWire Studio at Phocuswright Europe 2023 to talk about payment trends, evolution and where Stripe fits in. Watch the studio session on #PhocusWire. #travelnews #travelindustrynews #travelpayments #phocuswright

🚨 Klarna targets $1 trillion travel sector and anounced a partnership with airline Cathay Pacific to offer fairer, flexible payments to travellers in six countries across Europe: The agreement comes shortly after Klarna announced the global roll out of a partnership with Airbnb, with consumers in seven countries now able to spread the cost of their trips worldwide. Globally, credit cards are used for 70% of the $1 trillion spent on flights each year according to McKinsey. Klarna’s credit products are a healthier, fairer way for consumers to access credit, with clear repayment plans and customer-protection features like freezing access to its services when a payment is missed. Cathay Pacific customers over the age of 18 can now choose Klarna as a payment option at check-out in six European countries. Travellers in the UK🇬🇧, Spain🇪🇸, France🇫🇷, Italy🇮🇹 and the Netherlands🇳🇱 can pay for their flight in three, interest-free installments using Klarna’s Pay in 3 service. In Germany, Klarna financing allows travellers to spread the cost of a flight over 6 - 24 months, interest-bearing.  Read more info in the complete source article: https://lnkd.in/eGvQnYh5 Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #buynowpaylater #bnpl #payments #paytech #digitalpayments #klarna #fintech #fintechindustry #financialtechnology #fintechnews 

Nium and Thredd Expand Partnership to Power B2B Travel Payments in APAC "With a world of travel options now available in the palm of your hand, travel intermediaries and their hotel partners are under increasing pressure to reduce costs whilst maintaining a compelling customer experience. Virtual card payments are a game-changer for the travel industry, enabling intermediaries to improve cash flow for their hotel partners, in turn driving better prices and deeper connections with consumers. With Thredd's technology, we can continue to meet the evolving needs of the travel ecosystem on a global scale, now and in the future," said Spencer Hanlon, Global Head of Travel Payments at Nium. https://lnkd.in/eigp7Siz Jim McCarthy #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews