Focus: White paper: Solving Travel Pain-Points with Targeted Payment Solutions
George Maroufidis, Business Development Travel and Manager Lead at ECOMMPAY, has some vital strategies for companies hoping to show payments tech with their advantage in a changing business landscape.
Travel is changing. From take-off to touchdown, from check-in to check-out, the travel industry is grappling with a global that is diverse increasingly, mobile, and online. Those forms of changes can pose plenty of challenges to operators that end up unequipped to handle a rapidly-shifting business environment. Fortunately, ECOMMPAY has saved your day for baffled businesses with the release of a fresh white paper , detailing a fresh variety of industry pain-points exhaustively, and how exactly to solve them with the most recent and greatest in payments technology.
Drawing on an abundance of statistics and years of experience in payment processing, the white paper covers the absolute necessity for travel agents to adjust to the changing tides of online payments before they end up swallowed by them. A lot more than that, though, the paper finds that embracing new developments in payment tech—and partnering with providers with an authentic knowledge of your business’ operations—can prove an integral advantage for savvy travel agents.
Analysis from All Angles
The paper deals comprehensively with all quarters of the travel industry. Recognising a diversity of services takes a diversity of solutions, the paper tackles everything beneath the endless umbrella of &lsquo seemingly;travel’, from flights to hotels to taxis. Pulling from the selection of sources and stats, the main element issues facing each one of the major parts of the travel industry are addressed intelligently and comprehensively. For instance, possibly the biggest & most stubborn problem facing the hospitality sector in 2018 is no-shows: customers booking an area and, for reasons uknown, not arriving to check-in just. ECOMMPAY’s white paper deftly assesses the impact of no-shows on hotels of most sizes and all locations, from tiny independent operations in the EU to the enormous chains spread around the world, and proposes a couple of answers to mitigate and rebalance their unwanted effects.
Going beyond hotels, the white paper seeks to confront issues affecting the all together in both specific and general terms. That’s, to clearly cope with problems with regards to their industry-wide effects and their specific impacts on particular businesses within it. Notably, the pernicious problem of so-called ‘friendly fraud’ is really a bugbear of the complete travel industry, nonetheless it puts a specific burden on car rental agencies, whose customers are inclined to issuing chargebacks for fuel charges, toll taxes or damage fees, and who lose a lot of revenue and time and energy to coping with the friendly fraudsters. The paper clearly outlines how friendly fraud comes and the damage it could do about, before putting forth a couple of recommendations for a highly effective industry reaction to the presssing issue.
Adapting, Surviving, and Thriving
Throughout the paper it really is clear that the best way to not only adjust to the issues of a fresh travel landscape, but to thrive regardless of them, is really a payments technology foundation that’s tailored to the requirements of merchants and customers alike. Ultimately, so many problems—whether no-shows, friendly fraud or something else—become easier to take care of (and even solvable) if an operator includes a strong partnership having an experienced payment company, and a payments tech foundation that’s in a position to adjust to any situation, whether it’s detecting fraud before it happens, or facilitating hotel guests’ spending habits. With the proper expertise and tech, businesses can change their most obstinate problems to their most crucial advantages.
The precise technologies and techniques that define that foundation are detailed expansively in the paper itself, with a variety of ways (from security measures like tokenisation to the clever transaction flow magic of payment routing) to smooth an operator’s customer journey preventing hitches in the payment process, regardless of the source. The effect is an incredibly important resource for just about any operator seeking to carve out an edge for themselves within an industry undergoing rapid and far-reaching change.
Because, well, like we said, travel is changing. But what which means just, and who it affects, is right down to travel agents themselves. Change may be intimidating, but to the boldest, smartest, and best-equipped, it’s an opportunity to shake things up and obtain your foot in several doors which were closed until recently. In a worldwide world where customers are flitting between operators, looking for those that understand and best serve them, it’s possible to fully capture their loyalty with the proper tech, knowledge, and timing. With years of experience and a suite of exciting and innovative payments solutions, ECOMMPAY’s white paper can offer you with the initial two; the timing would be to you up.
If you’d prefer to discuss in further detail, please meet George at WTM London, where ECOMMPAY will be exhibiting innovative payment solutions tailored to the travel industry at Stand TT510.