11 September 2023
Are airlines keeping pace with the rapidly evolving payments landscape and letting travellers pay via the methods they value and prefer?
Looking at alternative payment methods, which allow travel merchants to align with local preferences, entities have to act swiftly to expand their global coverage, but also need to find ways to simplify integration and processing, reconciliation, and automation when it comes to refunds.
“Alternative payment methods have gained in popularity with advancements in technology and changes in consumer preferences,” said UATP’s Evelyn Ng during the recently conducted #ATPSAPAC. She referred to the possibility of delivering a desired payment experience via these options as travel shoppers “appreciate the flexibility to use their preferred payment options”.
Some of the alternatives include e-wallets, buy now pay later, open banking and mobile payments. Options like an e-wallet can simplify the checkout flow, whether the transaction is being made via web or mobile app.
Evelyn also mentioned that in addition to aspects like reach, serving underserved markets and dealing with cart abandonment, by embracing alternative payment methods a merchant can also “make it easier for airlines to handle such transactions in a customer-friendly manner” and “offer additional layers of security, such as two-factor authentication or biometric verification, which can help mitigate fraudulent transactions and protect both the airline and the customer”.
At the same time it is important to understand the fee, implementation costs, other commercial terms and the resulting exposure to fraud and chargebacks.
Hear from experts at Ai Events’ upcoming webinar, featuring:
- Sean Holdstock, Manager EMEA – Alternative Payments, UATP
- Randy Gibbons, Sr. Advisor Global Payment Strategy – Treasury, Southwest
- Chris Stacey, Commercial Vice President, Uplift
https://www.aiconnects.us/alternative-payments-in-travel-with-uatp/
Date: 12 September 2023
By Ritesh Gupta, Ai Events
