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Commonwealth Bank today launched a travel booking service in its banking app powered by Hopper. It's integrated to both it's whole-of-bank loyalty program, Yello, and it's credit card loyalty program, Comm Awards. CommBank Awards members can use their points to pay for travel. CommBank Yello customers receive 10% back in travel credits on hotel bookings. The travel offering includes price predictions (recommending when to book), auto price drop ($50 in travel credits if the price of the recommended booking drops), best price guarantee (credits the difference if a lower price is found), price watch (tracks flight prices) and flex it (cancel for any reason and possibly receive 80% of the cost back). --- 🔹Loyalty Central | Australia is a unit of Ellipsis & Company; the loyalty experts. 🔹Sign up here for Loyalty Central's monthly loyalty market update, a "just the facts" summary of all the news (including this piece) https://lnkd.in/gmQUU6KF

In the wake of the global pandemic, we've witnessed an unprecedented transformation in nearly every facet of our lives, from how we work and socialize to how we travel and make payments. As we adapted to a "new normal," industries across the board have had to adjust their value propositions to align with these changes, most notably the travel and hospitality industry. People began to rethink their travel priorities, opting for more meaningful and less crowded experiences. This paradigm shift sparked the need for travel companies to reimagine their offerings. Yet, in this evolving and challenging landscape, one thing remained certain: it's still a traveler's world✈️. 🖇️Consumers continue to exhibit a relentless appetite to spend on travel. Last year, in the United States, the number of travelers going through TSA (Transportation Security Administration (TSA)) checkpoints at airports consistently exceeded the levels observed in 2019. 🖇️Additionally, when looking at spending related to cross-border travel, the global card networks are reporting an increase of card usage, indicating a strong resurgence in international travel spending. (Insider Intelligence) A few months ago, I had the privilege of participating in a Podcast hosted by PayTech Talk, alongside Pragya Jauhari, a seasoned senior product manager who previously worked at Amazon and now with Booking.com. During this discussion, we shared our perspectives on the changing dynamics of travel and payment trends in the post-COVID era. The pandemic, while disrupting this industry, also acted as a catalyst for innovation and adaptation, introducing new considerations and opportunities. Some of which revolved around: ◼️Data analytics playing a central role in enabling travel companies to offer personalized recommendations, customized loyalty programs, and targeted marketing efforts. ◼️Multi-PSP strategies and orchestrations gaining tractions to address potential disruptions in payment processing led by the diversification of payment methods, currencies and compliance among other items. ◼️Chargebacks shifting from a post-sales concern to a primary focus of attention, surpassing traditional sales activities in priority. This unexpected shift forced the industry to adopt advanced fraud prevention measures due to the significant surge in double refunds and chargeback requests. ◼️Increasing need for payment flexibility and options to motivate customers to complete their bookings (BNPL, group booking). ◼️and more... Thanks Elliot Lyons and Emily Robida from Cognito for the great afternoon talking about a subject that both Pragya and myself could have gone on and on about🤓. Link to listen to the podcast in comments. #travelpayments experts, any perspectives to add🎤 ---- 𝙇𝙞𝙠𝙚 𝙩𝙝𝙞𝙨 𝙘𝙤𝙣𝙩𝙚𝙣𝙩? ✅ Follow Paypr.work [ˈpeɪpəwəːk]🚀 ✅ Let's collab 📧intro@paypr.work ✅ Learn more: https://paypr.work #fintech #payprwork #contentstrategy

🛫 Sometimes I am very surprised how connected is the globe. We discussed topic of Loyalty in Travel in Southeast Asia several weeks ago with some clients, and got to simple conclusion - too much focus on revenue in loyalty recently. Customers feel it. And few days ago group of our colleagues published very detailed view on the topic from other side of the planet. Enjoy the read, I am sure you also have 10-15 loyalty cards in your wallet. Key points from article: 📉 Decreasing Loyalty: Travelers are increasingly disloyal, with points and miles losing their attractiveness. Customers now often explore various brands. 🔄 Focus Shift & Pandemic Impact: Post-pandemic, travel brands prioritized revenue over customer experience, leading to dissatisfaction and loyalty program devaluation. 🚀 Need for Innovation: Travel companies must enhance the travel experience, focusing on personalized experiences over just rewards, and forging value-adding partnerships.

It took less than 30 years for the online travel market to become a multibillion-dollar industry and completely change the way we plan, book, and experience travel. A revolution that is far to be over as OTAs currently represent 40% of the global travel market and are expected to continue to play an increasingly influential role across all sectors, including airlines, hotels, tours and cruises. According to Phocuswright, in 2023, OTAs reached a significant milestone by surpassing $100 billion in annual gross bookings for the first time. This remarkable growth highlights the expanding influence and economic power of OTAs in the global travel market. Unsurprisingly, this expansion is catching the attention of the payment industry and leading to the development of tailored solutions for the unique requirements of OTAs. Earlier this month, Checkout.com announced their partnership with Mastercard to bring virtual cards (VCN) to OTAs. This was followed by Worldline's announcement early this week of their entry into direct card issuance in partnership with Visa to cater specifically to the high demand for virtual card solutions in the OTA market. A mere few years ago, when I was working in the virtual card sector, there were only a few specialised VCN providers catering to what seemed like a niche solution. Today, the VCN market has exploded, with both traditional payment and modern tech players recognising the vast potential in the VCN offerings. This surge in market activity underscores that VCNs are no longer a peripheral product but have become a core component in the issuing playbook. The authorisation framework of VCNs enhances the efficiency and accuracy of payment processing and reconciliation. By providing detailed transaction data and enabling automated matching, VCNs help merchants and suppliers streamline their operations, reduce errors and achieve operational efficiency. #didyouknow 💡Priceline is credited for prompting the creation of VCNs to streamline payments to their growing hotels and airlines distribution channels in the early 2000, when #OTAs were just becoming a thing. Some VCNs players into this field include WEX, Nium, Airwallex, ConnexPay… #Paymentexperts, any insights to add🎤? --- 𝑳𝒊𝒌𝒆 𝒕𝒉𝒊𝒔 𝒄𝒐𝒏𝒕𝒆𝒏𝒕? 𝑯𝒐𝒘 𝒄𝒂𝒏 𝑷𝒂𝒚𝒑𝒓.𝒘𝒐𝒓𝒌 𝒉𝒆𝒍𝒑? 𝘞𝘦 𝘢𝘳𝘦 𝘗𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘴𝘵𝘴, 𝘩𝘦𝘭𝘱𝘪𝘯𝘨 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘥𝘦𝘷𝘦𝘭𝘰𝘱 𝘰𝘱𝘵𝘪𝘮𝘪𝘴𝘦𝘥 𝘱𝘢𝘺𝘮𝘦𝘯𝘵 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘦𝘴. 𝘉𝘭𝘦𝘯𝘥𝘪𝘯𝘨 𝘰𝘶𝘳 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘬𝘯𝘰𝘸𝘭𝘦𝘥𝘨𝘦 𝘸𝘪𝘵𝘩 𝘰𝘶𝘳 𝘤𝘳𝘦𝘢𝘵𝘪𝘷𝘦 𝘧𝘭𝘢𝘪𝘳, 𝘸𝘦 𝘤𝘳𝘦𝘢𝘵𝘦 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘤𝘰𝘯𝘵𝘦𝘯𝘵 𝘢𝘯𝘥 𝘵𝘩𝘰𝘶𝘨𝘩𝘵 𝘭𝘦𝘢𝘥𝘦𝘳𝘴𝘩𝘪𝘱 𝘢𝘴𝘴𝘦𝘵𝘴 𝘧𝘰𝘳 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘭𝘦𝘢𝘥𝘦𝘳𝘴. 𝘞𝘦 𝘢𝘭𝘴𝘰 𝘥𝘦𝘭𝘪𝘷𝘦𝘳 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘵𝘳𝘢𝘪𝘯𝘪𝘯𝘨 𝘪𝘯 𝘰𝘶𝘳 𝘷𝘪𝘴𝘶𝘢𝘭𝘭𝘺 𝘦𝘯𝘨𝘢𝘨𝘪𝘯𝘨 𝘢𝘱𝘱𝘳𝘰𝘢𝘤𝘩. ✅ Follow Paypr.work [ˈpeɪpəwəːk] ✅ Intro@paypr.work ✅ https://paypr.work #paprwork #paymentsinfographics #fintech

Borderless Travels and Painless Payments: How to Soar Approval Rates in the Travel Industry 🌐 In 2023, International Air Transport Association (IATA) reported that 62% of customers chose payment methods based on convenience, with credit/debit cards being the most popular at 73%, followed by digital wallets and bank transfers at 18% each. The travel industry is evolving with changing customer preferences and technological advancements, focusing on trends in travel planning and purchasing airline tickets. ❌ Booking barriers As TravelPerk notes, travelers face challenges with booking flights and accommodations due to hidden costs and the need for flexible booking and payment options. ❌ Limited payment options According to Forbes, payment preferences in the travel industry vary by region: credit/debit cards are most popular in Latin America, Europe, and North America, while digital wallets are favored in the Asia Pacific region. ❌ Abandoned payments The International Air Transport Association (IATA) survey also found that airlines lost 25% of potential product and service sales during the customer journey due to payment issues. Looking at trends above, a payment solution comes to mind that can address them, but which one and how❓ ➕ Local Payment Solutions: UpGate has integrated various payment methods, including digital wallets and bank transfers, into a single system to benefit the travel industry. According to WeTravel’s Annual Report 2024, allowing travelers to use their preferred local payment methods could significantly benefit the travel industry, with 26% of businesses predicting these methods will be the most-used payment options by 2024. ➕ Enhanced Security: UpGate protects its users from fraud and security threats with 3DS and PCI DSS v4.0. ➕ Chargeback alerts: In the travel industry, chargebacks pose financial challenges. UpGate addresses this by offering chargeback alerts that provide real-time notifications to mitigate potential losses. ➕ Loyalty programs: Travel companies use loyalty programs and local payment methods to differentiate themselves and retain customers, which is crucial for maximizing revenue. UpGate provides a global list of local payment solutions. ➕ Orchestration Support: UpGate, a payment orchestration platform, aids travel industry businesses by integrating and coordinating various processes and systems to deliver travel services efficiently. ➕ Payment routing: Research by emerchantpay indicates that the travel and airline industries prioritize payment routing capabilities, a range of global payment options, and integration options. Settlement terms are also crucial in the airline sector. 👉 UpGate offers a customizable service to integrate any payment method based on your request. DM Sergei Peshkov to learn more. 🔗 Request demo: upgate.com #PaymentOrchestration #OnlinePayments #PCIDSS #Payments #FinTech #StartUp #UpGate #Security #Antifraud #TravelPayments2024 #DigitalWallets #GlobalPayments

After unlocking $273,000+ free travel w/ points.. Here're 5 credit card "secrets" that'll save you $1000s. (9 of 10 ppl I talk to don't know No. 3) 𝟭/ 𝗬𝗼𝘂 𝗰𝗮𝗻 𝗼𝘄𝗻 𝗺𝘂𝗹𝘁𝗶𝗽𝗹𝗲 𝘀𝗮𝗺𝗲 𝗰𝗮𝗿𝗱𝘀/𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 Eg: You can own 2x Chase Sapphire Reserve, 3x Capital One Venture X, 4x Chase Freedom Unlimited, etc. Why is this important? → You could get multiple sign-up bonuses for the same card every 2-4 years (only for some cards, read T&C) → You can downgrade to the same no-fee card (see No. 2) 𝟮/ 𝗗𝗼𝘄𝗻𝗴𝗿𝗮𝗱𝗲, 𝗱𝗼𝗻'𝘁 𝗰𝗮𝗻𝗰𝗲𝗹 (𝗶𝗳 𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲) Eg: Say I have a Chase Freedom Unlimited (CFU) & Chase Sapphire Reserve (CSR). I got the 75k CSR bonus, used it for a year, and no longer enjoy its benefits. I can downgrade the CSR to a no-fee card like the CFU. (Even if I already have a CFU) This way, you: → Skip the $550 annual fee next year → Avoid card cancellation (bad for credit score) → Are eligible for another CSR bonus in 3 years 𝟯/ 𝗔𝘀𝗸 𝗳𝗼𝗿 𝗮 𝗿𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗯𝗼𝗻𝘂𝘀 Credit card companies want to retain customers. So they'll sometimes offer retention bonuses. (In form of cashback, points, or waiving/lowering fee) Every year, I call Amex to ask for a retention bonus to keep my Amex Plat. Need a script? "Hey I'm thinking of cancelling this card. Do you have any retention offers available?" For the $695 fee card, I've gotten: → $400 cashback → 15k points → 20k points Not bad for a card I'm already getting $3,000+ value from! 𝗡𝗢𝗧𝗘: This is more common w/ premium high-fee cards. 𝟰/ 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝘁𝗼 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀 (& 𝘀𝗸𝗶𝗽 𝘁𝗵𝗲 𝘁𝗿𝗮𝘃𝗲𝗹 𝗽𝗼𝗿𝘁𝗮𝗹) In ~95% cases, you'll get a higher redemption value if you transfer directly to travel partners. If you have flex pts (Chase/Amex/CapOne/BILT/Citi), it's usually best to transfer directly to partners. You get better redemption values, but you also get better perks that work toward your status (for hotels). Best tool to look up travel partners for each flex point? (I'll drop a link in comments) 𝗡𝗢𝗧𝗘: Of course, there are exceptions. That's why I said ~95%. 𝟱/ 𝗖𝗮𝘀𝗵𝗯𝗮𝗰𝗸 𝘀𝘂𝗰𝗸𝘀 If you've read this far, you probably already know this. But just in case.. I said it. Of course, if you don't like to travel, then cashback is the next best option I suppose! What else would you add? ~~~ Enjoyed this? Consider sharing it with your network ♻️ & following me Julian Fung for more in the future. Wanna unlock $1000s in free travel? Download my free eBook to learn how I did 30 Days in Europe Under $300 here: https://lnkd.in/eMmDubQD

Did you see Expedia Group launched new credit cards for its One Key loyalty program on Friday? “𝘛𝘩𝘦 𝘖𝘯𝘦 𝘒𝘦𝘺 𝘊𝘢𝘳𝘥𝘴 𝘸𝘪𝘭𝘭 𝘦𝘯𝘢𝘣𝘭𝘦 𝘵𝘳𝘢𝘷𝘦𝘭𝘦𝘳𝘴 𝘵𝘰 𝘦𝘢𝘳𝘯 𝘳𝘦𝘸𝘢𝘳𝘥𝘴 𝘢𝘴 𝘖𝘯𝘦𝘒𝘦𝘺𝘊𝘢𝘴𝘩, 𝘸𝘩𝘪𝘤𝘩 𝘤𝘢𝘯 𝘣𝘦 𝘶𝘴𝘦𝘥 𝘵𝘰 𝘣𝘰𝘰𝘬 𝘦𝘭𝘪𝘨𝘪𝘣𝘭𝘦 𝘩𝘰𝘵𝘦𝘭𝘴, 𝘷𝘢𝘤𝘢𝘵𝘪𝘰𝘯 𝘳𝘦𝘯𝘵𝘢𝘭𝘴, 𝘤𝘢𝘳 𝘳𝘦𝘯𝘵𝘢𝘭𝘴, 𝘢𝘤𝘵𝘪𝘷𝘪𝘵𝘪𝘦𝘴 𝘢𝘯𝘥 𝘧𝘭𝘪𝘨𝘩𝘵𝘴 𝘢𝘤𝘳𝘰𝘴𝘴 𝘵𝘩𝘦 𝘌𝘹𝘱𝘦𝘥𝘪𝘢 𝘎𝘳𝘰𝘶𝘱 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮𝘴 𝘌𝘹𝘱𝘦𝘥𝘪𝘢, 𝘏𝘰𝘵𝘦𝘭𝘴.𝘤𝘰𝘮 𝘢𝘯𝘥 𝘝𝘳𝘣𝘰.” On that same day, Skift dropped an article "The Latest Numbers Behind Hotel Group’s Bet on Credit Card Rewards," sharing: • Membership growth continues, though at a slower rate • Redemption revenues hit a record How do you think this will affect other travel loyalty programs? #traveltech #hospitalitytechnology #loyalty Expedia Card info: https://lnkd.in/eCg7EnNj Skift article: https://lnkd.in/eATyxM7Z

The process of booking travel can become a tedious task that involves opening approximately a million browser tabs to compare rates, dates, and destinations. Travel businesses that make this experience more fun and less stressful stand to win Gen Zers’ attention. Gamifying travel apps and rewarding users for engagement can contribute to customer loyalty.

Travel invented loyalty as we know it. Now it’s time for reinvention. Travel brands didn’t invent loyalty programs, which have been traced to as far back as the 18th century. But ever since the first major airline frequent flier programs appeared in the early 1980s—soon to be followed by similar programs from hotel chains—the travel industry has become known for letting customers accumulate redeemable “miles” and “points.” Modern-day voyagers are deeply familiar with loyalty-related concepts such as status tiers, members-only lounges, and point-earning credit cards. Members of travel brands’ loyalty programs have become increasingly disloyal coming out of Covid. What will bring these straying customers back? https://lnkd.in/dT-gArDF

Ryanair and Kiwi.com: A Resolution, Consumer Protection Triumphs In the ever-evolving landscape of the travel industry, the partnership between Ryanair and Kiwi.com has been marked by a series of conflicts that have now culminated in a positive resolution. Over time, both companies navigated through discord to ultimately establish a cooperation that prioritizes customer protection and transparency. The journey began with discord, as both parties faced challenges due to screenscraping practices and customer verification procedures. Ryanair vocally advocated for consumer protection against OTA Pirate overcharges and scams, striving to ensure that customers receive accurate pricing and genuine contact and payment details. Meanwhile, Kiwi.com sought to establish relationships with various airlines for the benefit of its customers while pursuing long-term business objectives. After a period of tension and negotiations, Ryanair and Kiwi.com have reached a landmark agreement. This new partnership not only guarantees Kiwi.com direct access to the Ryanair website without screenscraping but also ensures that Kiwi customers can purchase Ryanair flights and ancillary services at real prices – free from any mark-ups or overcharges. Additionally, Kiwi.com customers now have access to their myRyanair account and will receive all relevant flight information directly from Ryanair, allowing for a seamless and transparent booking experience. This collaboration signifies a significant triumph for consumer protection and transparency within the travel industry. Ryanair and Kiwi.com have exemplified how openness and collaboration between airlines and OTAs can eliminate the need for anti-consumer practices, providing customers with direct access to low fares and ancillary services without overcharges or pricing scams. In a statement, Ryanair expressed its satisfaction with the new agreement, emphasizing that customers can now book flights, seats, and bags with full price transparency and complete access to their booking through their myRyanair account. Similarly, Kiwi.com's Chief Commercial Officer, Golan Shaked, expressed positivity about the cooperation, highlighting their commitment to establishing relationships with all airlines for the benefit of customers and their long-term business objectives. This resolution marks the end of a period of friction and serves as a testament to the power of collaboration, transparency, and consumer-centric practices in the travel industry. As the dust settles on past conflicts, it is evident that the travel industry has taken a step forward toward prioritizing consumer protection and fostering cooperation between airlines and OTAs. The resolution between Ryanair and Kiwi.com stands as a testament to the industry's progress, or it is just the efects of stop selling flights by Booking.com. https://lnkd.in/dDNRGyTT