The payments ecosystem is a complex, multi-layered pathway of players that interact with each other during the payment transaction process.
Airlines navigate some of the most complex payment ecosystems of all merchants, with issuers, acquirers, credit card networks, payment processors, payment gateways, independent sales organisations and payment facilitators all relying on each other to fulfil their role successfully and securely. In addition, integration with ticketing systems, passenger service systems, alternative payment methods (APMs) and cross-border payments add complexity.
As technology has transformed payments there’s never been more choice of user-friendly payment methods that combine speed and security – or more consumer demand for frictionless payments in the language and in the payment type of their choice. Now’s the time for airlines to benefit from this with a Payment Orchestration Platform that gives you full control of your payment ecosystem and can allow dramatic step change improvements in legacy tech platforms.
Here are four ways Payment Orchestration can help airlines take payments, and their performance, to new heights.