Nezasa’s Post

𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞 𝐫𝐚𝐭𝐞𝐬 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐬𝐮𝐛𝐦𝐢𝐭𝐭𝐢𝐧𝐠 𝐚 𝐦𝐨𝐧𝐭𝐡'𝐬 𝐧𝐨𝐭𝐢𝐜𝐞 𝐢𝐧 𝐚𝐝𝐯𝐚𝐧𝐜𝐞!💱💵 You should be on your toes when taking a trip abroad. Observe the following practices for smoother travel- 𝟭. 𝗞𝗻𝗼𝘄 𝘆𝗼𝘂𝗿 𝗿𝗮𝘁𝗲𝘀- Before your trip, research current exchange rates. 𝟮. 𝗨𝘀𝗲 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆- Currency converter apps can help you calculate costs accurately on the go. 𝟯. 𝗔𝗧𝗠 𝗔𝗰𝗰𝗲𝘀𝘀- Opt for ATMs in safe locations for competitive rates. 𝟰. 𝗖𝗿𝗲𝗱𝗶𝘁 𝗰𝗮𝗿𝗱- Use credit cards for convenience, but watch out for foreign transaction fees. 𝟱. 𝗖𝗮𝘀𝗵 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹𝘀- Keep small bills handy for taxis and tips. 𝐇𝐚𝐯𝐞 𝐲𝐨𝐮 𝐞𝐧𝐜𝐨𝐮𝐧𝐭𝐞𝐫𝐞𝐝 𝐚𝐧𝐲 𝐭𝐫𝐨𝐮𝐛𝐥𝐞 𝐰𝐢𝐭𝐡 𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐰𝐡𝐞𝐧 𝐭𝐫𝐚𝐯𝐞𝐥𝐢𝐧𝐠 𝐚𝐛𝐨𝐫𝐚𝐝?❓ #TravelTips #CurrencyExchange #TravelSmart #TravelPreparation #CurrencyConverter #TravelAdvice #TravelFinance #BigRide

I have seen a number of articles over the years, showing customers being charged poor fees or exchange rates for travel money and money transfers. Is every provider out there fair and compliant? Unfortunately, I can't comment on their processes and values. However, I can tell you about my experience. Having worked within this industry for 15 years, I would like to vouch for the hard work that happens behind the scenes. Keeping the customer at the forefront of mind is evident in my current company eurochange and others I have worked for. Currency has to be purchased and negotiated aggressively in order to pass on great rates to the customer. With money transfers, aggressive negotiations need to take place with the payout networks in order to give the receiver the best rates when they collect their money. In addition, highly experienced compliance teams and robust compliance measures have to be deployed in order to keep customers and their funds safe. Also, intense due diligence is necessary to ensure the right partners are onboarded correctly. Then we move onto marketing teams, who continuously work effortlessly to research the market and competitors in order to deliver great messages to customers. The list goes on: a cash centre, that needs to ensure travel money is delivered to customers and retail outlets on time. Finance and commercial teams have to identify the best margins for the business while remaining attractive and fair to customers. Customer service and support teams, ensuring customers and retail staff are taken care of. Keeping up to date with regulations is vital too. Then there are people like me, working with multiple key stakeholders internally and externally, keeping partners engaged, finding new opportunities, and educating everyone on the amazing industry that is travel money and money transfers. Every industry needs to make money and we do it via the management of exchange rates and fees. I would love to see some comments from people working in this industry and also from outside the industry, to see how you view things. #travelmoney #currency #financialservices #travelcurrency #moneytransfers

🌍 The Future of Airline Finance: IATA Embraces Digital Currencies ✈️ IATA’s recent announcement to introduce digital currencies, starting with China’s digital Renminbi, into its financial settlement systems by the end of 2024, signals a transformative shift in airline finance. This move, driven by the rapid adoption of digital currencies in global commerce, aims to streamline financial processes, optimize working capital, and enhance payment experiences for airlines. While this development brings greater flexibility and efficiency to airlines, it also poses new challenges and opportunities for travel agencies. With travel agencies playing a critical role in managing ticket sales and financial settlements, the integration of digital currencies means they must update their back-office systems, invoicing, and reconciliation processes. This shift towards digital settlements will require travel agencies to implement robust accounting solutions that accommodate digital currencies while ensuring compliance and security in financial transactions. For travel agencies, the road ahead involves adapting to this evolving landscape, balancing efficiency with system upgrades to handle multiple digital currencies. This proactive shift could enhance payment timelines, reduce currency conversion risks, and streamline financial flows across the industry. As the aviation industry takes this digital leap, it’s crucial to ask: Are our financial systems prepared to support this evolution, or do we risk falling behind? I welcome everyone involved in aviation finance and travel to share their thoughts on how digital currencies could reshape their operations. #AviationFinance #TravelAgencies #DigitalCurrencies #IATA #FutureOfFinance #DigitalTransformation #AviationLeadership #Innovation

After years of restrictions and uncertainties, people are eager to travel the world again, whether for leisure, business, or reconnecting with loved ones. As a result, international travel is getting back to—and in some cases even surpassing—pre-pandemic levels. Dynamic Currency Conversion (DCC), is making the travel experience more seamless. Edward Robles, MBA, Senior Director of Sales, Business Development at Euronet, spoke with Albert Bodine, Director, Commercial and Enterprise Payments at Javelin Strategy & Research, about how simplifying currency management can create new revenue opportunities for FIs. Read more: https://lnkd.in/gXskJbCQ #payments #currency #DCC #travel #dynamiccurencyconversion Jacob Jegher, Brian Riley, Jordan Hirschfield, Albert Bodine, Ryan Cole, Don Apgar, James Wester, Christopher Miller, PhD, Amy Gorin, Craig Lancaster, Sophia Gonzalez, Ben Danner, Matthew Gaughan, Elisa Athonvarangkul Tavilla, Suzanne Sando, Jennifer Pitt, Kevin Libby, James Quigley, Justin Hamel, Sandy Park

Explore the evolving world of payments and the travel sector, reshaping industries and opening doors for business worldwide.   Here's what Thredd's latest report uncovers: 🌎 B2B travel transaction volumes are projected to reach $1.7 trillion globally by 2027. 📈 The APAC region is anticipated to lead this surge, with transaction volumes expected to reach $480 billion in the same year. 💳 Virtual card transactions projected to exceed 121 billion by 2027. Discover more findings and solutions in the full report. Download now to stay ahead in the evolving payments landscape: https://bit.ly/3xkllNZ   #Payments #B2B #Travel #VirtualCards #FraudPrevention #FinTech

🏖️ 💳 What would be your ideal payment method while on vacation? A recent YouGov survey, spanning 17 different countries, sheds light on the trends in payment methods during international trips. While cash and credit cards still dominate the scene, fascinating variations can be observed between different global markets, reflecting the diverse preferences and habits of travelers worldwide. Data indicates that in some regions, the traditional use of cash still prevails, with many travelers relying heavily on physical currency for their transactions. In contrast, other areas exhibit a strong inclination towards digital payment methods, showcasing the rapid shift towards more convenient and modern alternatives. 👉 Delve into the factors influencing global consumer choices, such as accessibility, security, and cultural norms, providing an insightful glimpse into the evolving landscape in consumer behavior of international travel:https://okt.to/oP9XAI #TravelTrends #PaymentPreferences #YouGovSurveys

Transforming Tourism Payments for a Global Audience! 🌍 As the travel season peaks, ensuring smooth and transparent #transactions for international visitors is crucial. With Getnet's Dynamic Currency Conversion (#DCC), tourists can pay in their home #currency, experiencing real-time exchange rates directly at your terminal. Supporting payments in 66 different currencies, this service not only prevents unexpected charges but also simplifies their travel expenses, providing peace of mind and a seamless experience. Getnet's DCC integrates seamlessly into your business operations, providing international visitors with the option to pay in their familiar currency can significantly improve their experience and loyalty. Join us in breaking down borders and simplifying the #payment process. #Getnet your dreams, our solutions.

Airwallex's latest global report, '2024 State of Payments in the Travel Industry,' done in collaboration with Skift, sheds light on crucial trends impacting the online travel sector; 🌍 70% of global travel companies are facing increased complexity in cross-border payments - 67% flagging volatile FX rates a leading cause of complication. 💶 Inefficient payment systems are impacting profit margins for nearly two-thirds of travel companies. 🚀 The report highlights that 90% of executives are prioritising the upgrading of payment technology over the next 12 months. Airwallex's financial infrastructure positively impacts a number of the challenges outlined in the report and we are seeing more businesses globally make the switch to consolidate financial partners, optimise their financial operations and improve unit economics. Dowload the report for free here to read more - https://lnkd.in/gaCBXW9W

Payment in Europe is likely to change with the introduction of the digital euro. https://lnkd.in/e2hSi53i #PaymentsinEurope #PaymentsEurope #europePayments

Tomorrow I represent #BEworks at The Payments Canada Summit. There are three categories of behaviour that matter for the Future of Payments by my estimation. Come find out what they are, and how to use insights into human psychology to enable them! #payments #behavioralscience #openfinance #fraudmanagement