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GetYourGuide and Primer team up to deliver payment innovation for the experience economy Commenting on the partnership, Gabriel Le Roux, CEO and Co-Founder of Primer said: “With the demand of the travel experience market, it’s clear that businesses need to shift their priorities and recognise payments as a lever for growth. Alongside creating memorable moments, today’s travelers are seeking seamless and convenient payment processes, no matter where they are. That’s where our partnership will work its magic. We can’t wait to support GetYourGuide and take its payments to an entirely new level.” https://lnkd.in/e9EKyfVW Arjun M. Paul Anthony Pierre-Edouard Jumel Jade Thomas Theo Spyrides Johannes Reck Will Gluckin Ameet Ranadive Nils Chrestin #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

How fintech companies are progressing in the travel space | PhocusWire: The march of traditional banks and newer fintech companies into the travel space is ongoing, gathering pace even, with numerous partnerships and ...

In this collaboration, Nium will incorporate Thredd APIs into its single platform for instant global payments, accelerating its transaction speed to 200 milliseconds for issuing and loading virtual cards in nearly 30 countries around the world. Jim McCarthy, chief executive officer at Thredd, said, "APAC presents a substantial opportunity for global travel intermediaries that will in turn spur robust competition, a boon for consumers, and accelerated growth for the global travel ecosystem.” Spencer Hanlon, global head of travel payments at Nium, also said, "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.” #virtualcards #fintech #asiapacific ------ -[Awards] MARKETECH APAC is launching its inaugural "Marketing Technology Awards" where we recognise the groundbreaking achievements in marketing technology, uniting the brands and tech organisations within the region’s marketing community. Learn how your brand can be a part of it by checking it more details HERE: https://bit.ly/3SVtoIa -[Newsletter] To learn more about the latest news, trends and insights in the technology industry, subscribe to UpTech Media’s newsletter by filling out this form: https://lnkd.in/eKr8Se4y

Do you want to reduce the cost of cross-border payments? Thinking about switching to virtual cards for #B2Bpayments or exploring how digital wallets can store payment methods and travel credentials? Maybe you’re curious about how AI can streamline your payment processes.      Then you’re right on trend according to Phocuswright’s latest article on #travel payments, which is well worth a read 📰: https://lnkd.in/dHXSzFsZ    The article and supporting report cover the key issues facing payments leaders in travel.     I agree with almost everything here but do want to highlight the suggestion that the travel industry is “resistant to emerging payment trends.”    On the contrary…  A couple of weeks ago Outpayce from Amadeus announced that Philippine Airlines will begin offering passengers the option to pay directly from their bank using IATA Pay.     Several major airlines are also adapting their approach to payments in preparation to become retailers along with an increase in the use of virtual cards across the travel industry.     What do you think about the key trends identified by Phocuswright? Would you describe your travel company as a payments laggard, pioneer, or somewhere in-between? I welcome your thoughts in the comment section below.     #TravelPayments #TravelFintech 

As many of you may know, Axify.shop started as a friendly payment method, so people could afford their travel packages during the pandemic, and use them once the quarantine and mobility restrictions were over. Why am I telling you this? I just read an article about how fintechs are revolutionizing the travel industry. Let’s start from the beginning: according to ReportLinker, the global travel business market is projected to reach a revised size of US$928.4 Billion by 2030. What does this mean? Fintechs will be looking to “capitalize on this growth by offering simplified solutions to replace the expensive and time-consuming legacy systems in the industry”. How can fintechs help the travel industry? ✅ Fintechs' expertise in payment and treasury management allows travel companies to customize and streamline their internal workflows for greater flexibility. ✅ Fintechs help travel businesses tackle big data challenges, offering solutions and guidance to comply with regulatory changes, such as licensing rules and accounting standards. ✅ By using a fintech provider with a multi-territory presence, travel companies can focus on their core business, avoiding the complexity of building financial partnerships, handling multi-currency transactions, and navigating regulatory changes. If you mix these benefits with all the good things that come with a Save Now, Buy Later model, travel companies can reduce their CAC, increase their engagement, and create a frictionless conversion funnel. Why? Because this model makes people prioritize paying in instalments before the trip incentivizing savings behavior, rather than paying for their trip up front or with credit, which is super expensive for business. If you want to understand more about the impact of the fintech industry in the travel business, you can read this article: https://lnkd.in/dWjJAjer Also, here’s the report where you can understand the context about the global travel industry: https://lnkd.in/dDG-pMUK — 🛬 #travel #savenowbuylater #savings #finance #industry #fintech

A recent study by Amadeus Outpayce, Travel Technology Investment Trends 2024, highlighted the complexities travel companies face in optimizing payments, especially with the cross-border payments. From reducing costs to managing multiple connections to payment partners, the challenges are numerous. This is where Trustly solutions powered by Open Banking come in. By leveraging direct bank connections, we empower travel businesses via one connection to: Streamline Payments: Simplify cross-border transactions, eliminating unnecessary intermediaries and reducing costs. Boost Conversion Rates: Offer a seamless, frictionless payment experience that caters to personal preferences, driving customer satisfaction and loyalty. Future-proof flexibility: As the payments landscape continues to evolve, open banking provides a scalable and adaptable solution that can easily accommodate new payment methods and technologies. Ready to simplify your payments and elevate your customer experience? Speak to me to join the growing number of travel companies embracing the future of payments. Connect with Trustly and discover how we together can revolutionize your payment operations. #OpenBanking #TravelPayments #Trustly #FinTech 📷 Terminal 1 - Paris-Charles de Gaulle

Modulr have taken off with an ALL-IN-ONE payments solution for the travel industry! 🛫 💳 🏢 The International Air Transport Association (IATA) reports that 41% of travel firms STILL place payment inefficiencies as their biggest concern which only puts operational strain on businesses but also affects supplier relationships and deteriorates the customer experience. 💱 📲 Modulr’s comprehensive platform is engineered to overcome such challenges and is tailored to travel industry AND provides a suite of solutions in a range of currencies that includes virtual cards, account-to-account transfers and customisable notifications 👨✈️ Myles Stephenson, CEO and Founder of Modulr, emphasised the importance of this innovation, stating, “Our goal is to alleviate the payment challenges experienced by the travel industry, bringing together our comprehensive suite of virtual card programs with our leading-edge payment and account issuance capability, delivering an all-in-one solution for the travel industry.” Read more on the link below! 👇 #travelpayments #modulr #fintech #fintechnews #virtualcard #customerexperience #payments #travelindustry

How Fintech is reinventing travel payments The travel payments industry is undergoing a profound transformation, driven by the rise of fintech, evolving consumer preferences, and changing market dynamics (A 2023 white paper by Mastercard). 1. An increasing number of travel agencies are shifting to the MoR model where the travel agency collects customer payments for all booked services, authorized transactions, and then disburses payments to the specific suppliers associated with the booking. 2. Another trend outlined by the Mastercard white paper is the digitalization of business-to-business (B2B) travel payments, with virtual cards in particular emerging as an appealing payment option. This results in a more streamlined payment experience for travel agencies and their customers, as well as travel suppliers. Source: fintechnews.sg 

Travel payments are more than new ways of buying tickets online or using BNPL (Buy Now, Pay Later). It's instant payments for lost baggage or involuntary denied boarding. It's meal vouchers linked directly to a personal credit or debit card. It's replacing vouchers with a digital credit that can be redeemed at any hotel, restaurant, or store location. It's next-level customer service!

Failing to offer payment choices is a guaranteed failure to sell! Plain fact, the modern consumer has a near-limitless degree of choice and will gladly and unassumingly abandon a purchase at checkout if the merchant or service provider fails to offer convenient options, leading to lost revenue for the business. Last month, I attended a session presented by Vojin Rakonjac from Endava and Fabien Mollinari from Aer Lingus at the Airline and Travel Payments Summit #ATPS2024 that was not short of a masterclass on orchestration. It is well known that the travel industry operates on some of the most legacy infrastructure. Upgrading such payment infrastructure to accommodate even just new payment methods can be a complex process. Yet this is a significant revenue opportunity as the retailing approach, i.e. selling additional services and features alongside the core travel offering, represents a market that quite possibly ranges in the billions. Payments go much beyond just entering details. They are about enhancing the customer experience, finding new customers, and expanding into new markets. There are however multiple interdependent layers, as simplified in the visual below, that ensure the seamless processing of transactions. These layers consist of various systems and components that collaborate, or rather have to rely on each others to facilitate the secure and efficient exchange of data for processing these transactions. A built approach to a payment infrastructure that leverages orchestration involves developing a system where each layer is meticulously designed to be controllable and adaptable. This approach offers several benefits, enhancing the efficiency and reliability of the payment process by integrating and managing those flows through a centralised point, with less dependency on the other systems. Great insights on Endava's latest report: https://lnkd.in/djYurygr 👉🏽 #Paymentexperts, any insights to share🎤? Ritesh Christopher Angella Paul #travelpayments #airlines #paymentsfraud Ai Events | Airline Information --- 𝑾𝒐𝒏𝒅𝒆𝒓 𝒘𝒉𝒐 𝒘𝒆 𝒂𝒓𝒆 𝒂𝒏𝒅 𝒉𝒐𝒘 𝒄𝒂𝒏 𝑷𝒂𝒚𝒑𝒓.𝒘𝒐𝒓𝒌 𝒉𝒆𝒍𝒑? 𝘞𝘦 𝘢𝘳𝘦 𝘗𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘴𝘵𝘴, 𝘩𝘦𝘭𝘱𝘪𝘯𝘨 𝘮𝘦𝘳𝘤𝘩𝘢𝘯𝘵𝘴 𝘪𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘧𝘳𝘢𝘮𝘦𝘸𝘰𝘳𝘬 𝘵𝘩𝘢𝘵 𝘰𝘱𝘵𝘪𝘮𝘪𝘴𝘦 𝘵𝘩𝘦𝘪𝘳 𝘱𝘳𝘰𝘤𝘦𝘴𝘴𝘦𝘴, 𝘸𝘪𝘵𝘩 𝘳𝘦𝘭𝘪𝘢𝘣𝘭𝘦 𝘵𝘦𝘤𝘩 𝘱𝘢𝘳𝘵𝘯𝘦𝘳𝘴. 𝘉𝘭𝘦𝘯𝘥𝘪𝘯𝘨 𝘰𝘶𝘳 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘬𝘯𝘰𝘸𝘭𝘦𝘥𝘨𝘦 𝘸𝘪𝘵𝘩 𝘰𝘶𝘳 𝘤𝘳𝘦𝘢𝘵𝘪𝘷𝘦 𝘧𝘭𝘢𝘪𝘳, 𝘸𝘦 𝘤𝘳𝘦𝘢𝘵𝘦 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘤𝘰𝘯𝘵𝘦𝘯𝘵 𝘢𝘯𝘥 𝘵𝘩𝘰𝘶𝘨𝘩𝘵 𝘭𝘦𝘢𝘥𝘦𝘳𝘴𝘩𝘪𝘱 𝘢𝘴𝘴𝘦𝘵𝘴 𝘧𝘰𝘳 𝘧𝘪𝘯𝘵𝘦𝘤𝘩 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘭𝘦𝘢𝘥𝘦𝘳𝘴. 𝘞𝘦 𝘢𝘭𝘴𝘰 𝘥𝘦𝘭𝘪𝘷𝘦𝘳 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘵𝘳𝘢𝘪𝘯𝘪𝘯𝘨 𝘪𝘯 𝘰𝘶𝘳 𝘷𝘪𝘴𝘶𝘢𝘭𝘭𝘺 𝘦𝘯𝘨𝘢𝘨𝘪𝘯𝘨 𝘢𝘱𝘱𝘳𝘰𝘢𝘤𝘩. ✅ Follow Paypr.work [ˈpeɪpəwəːk] ✅ Intro@paypr.work ✅ https://paypr.work