Ingenico grows travel payment sector tell Trip.com deal
Ingenico Group announced last month that it’ll be providing payment consulting and processing services to online travel agency Trip.com. Within an exclusive interview, The Moodie Davitt Report’s Mark Lane discusses the offer with Ingenico ePayments Asia Pacific General Manager Nathan Salisbury.
Signing Trip.com is really a significant win for global payments provider Ingenico Group and for your travel payments sector.
Trip.com is, in the end, among the world’s leading online travel part and agencies of the mighty Ctrip Group – the world’s second largest travel booking company. It has a lot more than 30,000 employees and over 300 million members and contains built a network greater than 1.2 million hotels in 200 regions and countries. It offers travel booking services including flights, hotels, trains and cars in 13 different languages covering a lot more than two million individual flight routes connecting a lot more than 5,000 cities around the world.
“The offer is considerable. Trip.com could become among our top merchants in China with regards to transaction volume processed in 2018,’’ says Ingenico ePayments Asia Pacific General Manager Nathan Salisbury. “Trip.com is a superb addition to your selection of tourism and travel clients, further strengthening our existing portfolio of top tier OTAs [online travel agencies].’’
Paris-headquartered Ingenico, founded in 1980, has a lot more than 8,000 employees and operates in 170 countries. In 2017 it recorded €2.5 billion in revenues, and net profits of €256 million.
The group can help Trip.com provide local acquiring connections to boost the success rate of online card payments because of its members. Ingenico’s multi-acquirer solution reroutes declined payments to a backup acquirer automatically, enabling higher authorisation rates.
This agreement marks a significant milestone for the development of Trip.com’s business in the Chinese market, which it entered in 2007 with an individual airline first. Within the last ten years, the amount of Chinese online transactions processed by Ingenico has grown  annually;to 180 times its original level, which, Salisbury highlights, underlines the enormous upsurge in cross-border e-commerce.
To service this growing market, july 2017 Ingenico opened a fresh office at Shanghai Lujiazui Financial Center in, doubling its amount of Chinese employees to supply a variety of services, including commercial, risk, merchant services, solution consulting and merchant implementation.
“This permits us to provide a 24/7 customised local service to your Chinese cross-border merchants, including Trip.com,’’ says Salisbury. “Our rich experience with lots of the world’s top OTAs, airlines and hotels over the Asia Pacific region and is valued by Trip globally. matches and com making use of their global expansion goals.’’
Ingenico began talking to Ctrip in early 2017, and both parties spent over half a year drawing and finalising the contract up.
Salisbury adds: “From once the agreement was signed in 2017, we begun to process payment flow for Trip.com, starting in several markets only. Once we did, we demonstrated clear strengths with regards to transaction conversion stability and rates. Our presence in China may be the largest of the top tier international PSPs [Payment Service Providers], allowing us to supply an area service.
“This consists of regular performance reviews with the Ctrip payment team to totally understand their needs. Given the stable performance of our multi-acquirer solution, our comprehensive payment analysis and bespoke solutions for Ctrip’s focus markets, Trip.com is showing increasingly more confidence inside our services.’’
Ingenico said it looked to expanding its partnership with Trip forward.com to add alternative party payment methods.
Salisbury explains: “Alternative payment methods are a significant addition for merchants that are seeking to increase acceptance using markets. This consists of e-wallets, real-time banking, pre-paid cards, bank transfers etc.
“Given the diversity of local payment preferences around the world, optimising the acceptance of alternative party payment methods might help Trip.com drive more revenue and convert sales. Our platform seamlessly integrates alternative party payment methods so merchants can easily add products without operational impact.’’
Ingenico devotes a lot more than 7% of its revenue to analyze and development, so, what’s the future more likely to hold for the combined group with regards to technology and security?
“Everything starts with having accurate and reliable transaction data – and quick access to it,’’ says Salisbury. “We’ve the tools to greatly help our merchants analyse transaction optimise and data performance, but we continue steadily to develop them and build out our global acquiring capabilities to make sure we have been at the leading edge of technology and security, and offer our merchants with the best transaction success rates.
“We’re focusing on a predictive analysis module in your award-winning tool currently, Elevate, in addition to developing solutions that extend our grip on fraud and risk actively. Week next, we’be launching our &lsquo ll;fraud-free’ solution alongside Fraugster that protects merchants from chargeback exposure. We have been supporting our clients with a next generation authentication solution also, 3D Secure 2.0, which will reduce consumer friction while moving the liability to the issuer.’’
This will be enough to help keep Ingenico busy in the fast-growing travel payments sector and rapidly-expanding Asia Pacific travel market.