A win-win solution for passengers and airlines

Throughout 2022 the airline industry and business travel in particular has regained much of its lost momentum with full recovery expected in 2024–ending the year on pace with the 2019 pre-pandemic spend of $1.4 trillion.

Now is the time to make the business travel experience as frictionless as possible, facilitating face-to-face meetings that will help businesses in all sectors rebuild and expand.

Don’t let payments get in the way of a great customer experience. Payment Orchestration can significantly improve the customer payment journey and result in benefits for both you and your passengers. Through Payment Orchestration, you can add as much as 12% of your topline revenue to your bottom line.

How does Payment Orchestration work?

According to PYMNTs, the global market for payment orchestration platforms is expected to grow 20% every year between 2021 and 2026, and for good reason. Imagine the complex ecosystem of payment players as a concert orchestra. Our Payment Orchestration Platform Velocity acts as the conductor, keeping every element working in harmony.

In practice this is done via seven simple tracks:

Payment flow reconciliation:
simplified back-office processes.

Ecosystem redundancy:
eliminating the money lost when transactions are not approved or simply disappear.

End-to-end optimisation:
saving you money by making it easier to have multiple acquirer relationships

410+ payment connections:
Allowing you to offer your customers their payment method of choice.

Transactional cost reduction:
through the simplification of legacy systems

Real-time and retrospective transparency:
providing valuable analysis for insight-driven decision-making.

Process automation:
helping you do a lot more, with a lot less.

The result? A significant return on investment.
In fact, for every £1bn you may see as much as £120m return YoY.

An end to the ‘book to board’ problem

Obviously, this is great news for airlines, but it’s a win for the business traveller too. The process from booking to boarding a flight can be tedious, it can take anything up to four hours to get through an airport, which is frustrating for anyone taking a domestic flight to a meeting in London which will only take an hour. This friction goes against the fundamental purpose of business travel: to use time more efficiently.

The good news for the airline industry is that, despite the impact of the pandemic, the business traveller is still here, but their expectations are higher than ever.

In a post-Covid reality, 68% of consumers expect more digital interactions from their merchants, and a massive 4.4bn will be using a digital wallet by 2023 to pay for all online services. In fact, almost all – 90% – of western travellers will use digital payments to pay for travel.

These figures have not gone unrecognised by the industry. More than half (60%) of airline CEOs believe digital transformation is the most important thing to focus on post-pandemic. Done well, this will not only improve the payment journey but help regain profitability and growth.

The challenge is in reconciling traveller expectations with the reality of a complex payments ecosystem, which today includes more than 200 payment methods used globally.

Velocity can help with fast, easy roll-out of a diverse payment eco-system and solution to orchestrate every transaction end-to-end and fluidify your customer payment experience while keeping it simple. Don’t let payments come between you and an outstanding customer experience.

Boost revenue and simplify operations with our Payment Orchestration solution

Elevate your business with our Payment Orchestration Platform. Streamline operations, access global providers, and optimise processing times. Benefit from intelligent routing, fraud prevention, and real-time analytics. Request a demo to revolutionise your payment systems.