Mastercard Global Partnerships’ Post

⌛️ Is your #airline ready for the new wave of DOT #refund regulations? Starting October 28, the U.S. Department of Transportation mandates that airlines issue refunds for significant service disruptions. Adapting to these changes is crucial for regulatory compliance, but it's also a big opportunity to: ✔️ Streamline refund operations 🏆 Bolster passenger #loyalty 📈  Forge a stronger market position Learn how the Payouts Network #InstantPayouts solution can help your airline meet the DOT regulations with ease. #Airlines #CustomerExperience #Fintech #B2CPayments

About three out of four airline payment transactions are card-based - do you know the three phases of a typical card payment? There are various parties involved in a typical (airline) credit card payment flow. These parties help facilitate the key process of payments consisting of an authorization phase, a clearing and settlement phase, and an optional chargeback reconciliation phase. The roles of the parties are as follows: - The passenger initiates the transaction by providing credit card details for purchases. - The issuer, the bank of the passenger, issues the credit card to the passenger and approves or declines the transaction based on the available credit and fraud checks. - Schemes, such as Visa or Mastercard, act as intermediaries, setting the rules and facilitating communication between the different parties. - The acquirer, the bank of the airline, receives the transaction details and processes the payment on behalf of the merchant (airline or travel agent). - The merchant is then responsible for providing the travel service, after the successful authorization of the transaction. This seamless process just takes seconds. However, especially for high-risk merchants like airlines it comes at a significant cost. Stay tuned for more details about interchange++ fees, the transactional cost that can make up to 90% of airlines card-related payment costs. #airlines #distribution #payments #strategy #creditcard

Airline administrative costs can add up quickly from customer payment declines -- driven by insufficient funds, authentication errors, and excessive authorizations. See how our best practices for payments optimization can improve the customer experience while significantly reducing processing costs for airlines.

Airline administrative costs can add up quickly from customer payment declines -- driven by insufficient funds, authentication errors, and excessive authorizations. See how our best practices for payments optimization can improve the customer experience while significantly reducing processing costs for airlines.

Making the most of payments data to be in sync with latest trends #ATPS2024 - 1 day to go Travel companies acknowledge that #payments data isn’t a passive reporting tool, rather if all the dots are connected to see the whole picture then there is plenty to gain. As a merchant, airlines, in conjunction with payment specialists they work, must find ways to reap benefits on several counts. Some of the areas are: ·        Understanding the #travel shopper: Transaction data provides an insight into how travel shoppers wish to pay, and how that choice varies from product to product and country to country. ·        Operational improvements and efficiencies: One major benefit is cutting down on the number of manual referrals when payments are processed. In the area of #paymentprocessing optimisation, airlines can focus on optimised routing. ·        Conversion rate: #Conversion-related aspects like how long it takes to sign up to a #payment method, how to optimize the experience for all the payment methods, as well as what is resulting in payment to fail etc. can have a huge impact on the financial performance. ·        Cash flow and liquidity: It is worth evaluating how merchants don’t end up getting impacted by liquidity issues i.e. acquirers holding sizable chunks of cash reserves from merchants until the service is delivered. As for working with acquirers, Elavon, Inc. urges the #airlines to focus on missing data (departure date), downgrade report, pricing data and breakdown, and reconsider routing of transactions. ·        Dealing with #chargebacks: It is always important for travel merchants to evaluate the nature of disputes, how the process works, and how to prevent them from happening. Looking at the data, merchants can conclude whether cardholders are winning disputes. Merchants need to ensure they rely on data and automation to better manage chargebacks at scale. ·        Fraud prevention: Data can help in separating good and bad customers more efficiently. Artificial intelligence is already paving the way for efficient transaction screening, reducing the need for manual intervention. How to make the most of payments data? Hear from experts at the upcoming #ATPS2024 in London (22-23 May): https://lnkd.in/gShkJ8n5 Ritesh Gupta Michael Smith Christopher Staab Wendy Ward Laurie Gablehouse Paul van Alfen UATP Worldline Visa Mastercard Justt Adyen Worldpay Nuvei Discover Financial Services Nuvei Pay with Bank transfer Darwinium Endava PagoNxt (a Santander company) LexisNexis Risk Solutions TWAI eGlobalfares Outpayce from Amadeus Paypr.work [ˈpeɪpəwəːk]

Airline administrative costs can add up quickly from customer payment declines -- driven by insufficient funds, authentication errors, and excessive authorizations. See how our best practices for payments optimization can improve the customer experience while significantly reducing processing costs for airlines.

Big changes coming to the Delta Amex suite of credit cards. Here's what you need to know.

Airlines are increasingly relying on credit card programs and rewards points for profitability, while smaller airlines fight for a way to break into this competitive market. This morning’s U.S. DoT and CFPB hearing on airline rewards credit cards focused on the roadblocks consumers face in navigating their points programs. “Credit card companies promise upfront benefits for signing up and using their rewards card, but often bury complex terms in the fine print for using the rewards,” said CFPB Director Rohit Chopra. “The CFPB will be looking for ways to protect people’s points, stop bait-and-switch scams, and promote a fair and competitive market for credit card rewards.” Read more: https://ow.ly/ibc150RC4AP #payments #creditcards #rewards #airlines #points