There are a lot of stakeholders in the travel and transport value chain including travel merchants, travel intermediaries, a broad range of payment service providers, global networks and distribution systems and more. Payment innovations require close cooperation between them.
These challenges have influenced customer behaviour changes and accelerated the development of new technologies driving digitalization.
New entrants are arriving with innovative solutions such as payment orchestration solutions, alternative payment methods or embedded finance, while incumbent players are also expanding their role in the value chain by covering wider areas such as acquiring, processing and/or issuing payments.
Travel and transport companies are increasingly putting the customer at the heart of their payment and retail strategies. As they innovate, they will need to modernise both their business models and their legacy technology, as well as rethink their relationship with payment providers.
We have been helping companies in the travel and transport sector to define their payment strategies since 2002.
We start by understanding your current payment processes and then identify the potential to optimise payments. Often, we can help you cut costs while protecting and diversifying revenue streams. Our experts work cooperatively, sharing their knowledge and best practices from around the world, and across many business sectors.
We also help with payment partner selection, by developing, managing, and evaluating requests for information (RFIs) and requests for proposals (RFPs). All the time, we keep in mind the importance of a smooth implementation process.
We will work with you from the definition to the implementation of a payment strategy that is tailored to the needs of your organization and the Travel & Transport sector ecosystem.
“The payments industry is experiencing major structural changes (including new technologies, new entrants, regulatory changes) that create new opportunities for various stakeholders in the value chain, especially in the airline industry. The travel sector has traditionally been a complex landscape when it comes to payment processing and at EDC, we are working with our clients to generate additional value from payment activities. Travel suppliers, such as airlines, are not only focused on controlling costs but are also increasingly starting to leverage payment on the revenue side.”
“The airline industry has taken a hard look at payments-related cost and revenue drivers. We have assisted many of our airline clients to develop a payment strategy to streamline processes and reduce costs. We also have investigated how our clients can protect existing revenues and generate additional revenues, while improving their conversion rate and customer experience.”
How can EDC support your goals in Travel & Transport payments?
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