Payments are changing – fast! Throughout the entire payments ecosystem, innovation is transforming both the types of payments passengers prefer and the way banks are operating. In the last of our airline series, we’ll be future-gazing to predict what changes airlines can expect in the payment space.
The combined effects of apps like Uber, the rise of fintech and, of course, the pandemic mean in the past few years’ airline payments have evolved from being a tactical consideration to a business strategy, and today payment options are a key differentiating factor for any travel business.
The continuing rise of alternative payment methods (APMs) like PayPal, Google Pay, and Apple Pay is a trend we expect to accelerate. Airlines need to embrace APMs with enthusiasm to match that of their customers or they risk losing business. Airlines that don’t offer passengers the opportunity to split payments - an increasingly popular choice for both card and APM payments - or pay in instalments will lose business to those that do.
CellPoint Digital’s Velocity Payment Orchestration Platform makes it easy to deploy and retract APMs with the click of a button. It also makes deploying Pay-by-Link simple, a method that reduces cart abandonment by providing a link to a checkout page to complete a transaction. We work closely with all Passenger Service System (PSS) providers to offer a seamless integration which results in less reliance on the PSS provider. We can then take over their payment strategy, or it can be driven through us for a significantly lower cost.