Meeting traveler’s expectations with secure payments in place
With a large number of low-cost carriers, hotel, and apartment booking sites, and global internet access, traveling becomes easier than ever. On the other hand, meeting customers’ expectations is a real challenge for travel companies, so they need to prioritize their strategies to answer growing demands of travelers if they want to stay on top of the market.
The World Tourism Organization reports that international tourist arrivals grew by 7 percent in 2017 and it is expected that the tendency will be continued throughout 2018. This is also driven by an increased appetite for mobile travel apps and convenient solutions that we have close at hand.
The importance of user experience
One of the most important rules that should be followed by each and every business is that price is important but the experience is what impacts the final decision on whether to book the next trip or not.
While travel websites face the highest abandonment rates, it’s in their interest to implement processes and solutions that enhance user experience and encourage people not to leave the page without booking. Many depend on the page load speed, website navigation, and overall experience, however, it’s not only about how the website or an app works but also how the payment process is designed.
That being said, travel companies need to implement a simplified checkout and ask for only necessary data. Also, they should consider using auto-completing wherever it’s possible to speed up the process and improve the overall experience. The main goal is to minimize the number of steps to make the entire process as simple as a few taps. It’s all about how customers feel, so there’s no space for complexity nor a multistep checkout.
According to the Travel Payment Study 2018 by Amadeus, 81 percent of travel companies plan to implement some innovative projects in the next three years. It’s also about payments — travel companies need to follow payment innovations if they want to survive on the digital-based market.
The thing is that payment systems shouldn’t hinder the company’s conversion, which is common, as it’s usually caused by outdated systems and a poorly-designed checkout process.
Travelers expect convenience and flexibility on every step of their booking process and it’s possible with solutions that give companies full control over booking and payment systems, so they can simply adjust the technology to their needs.
Advanced technology and innovation give travel companies tools and solutions to reduce customer frustration and personalize their booking and travel experience. Innovative payments combined with AI-based solutions help personalize offers which lead to enhancing the experience and improving customer satisfaction.
Meeting mobile travelers expectations
According to the 2018 Digital Transformation Report by Skift and Adobe, over 20 percent of the travel companies traffic comes from mobile platforms. This is why travel companies need to remember about mobile users, as they behave differently, spending less time to interact with content and expect a smooth and fast experience, without any distractions and interruptions.
Nowadays, people carry smartphones everywhere, so they expect to have the opportunity to change their travel plans at any time. Time zones or various currencies shouldn’t be the roadblocks that travelers meet on their way. Bear in mind that people want to pay on the go, without standing in line, so mobile presence is a must for travel-related companies.
Also, the global nature of the industry forces in some way the need for accepting payments in your customer’s preferred currency. Today’s travelers are getting used to travel without physical cash and the expectations for multi-currency payments are growing. Thankfully, now it’s much easier to reach more customers with a reliable payment platform.
Security at the forefront
While, according to Phocuswright’s study, 99 percent of airlines accept credit cards during the booking process, one of the biggest concerns for both travel companies and travelers is fraud. People need to feel confident while they pay, as they share their sensitive data.
The truth is that travel is one of the industries that are highly targeted by fraud, so companies need to prevent any suspicious attempts before it turns into a serious problem. According to the Fraud in the Travel Payments research, fraudulent activity costs travel companies $21 billion and by 2020 it can exceed $25 billion.
This is why here, at SecurionPay we recommend using multilevel security, which can be covered by our payment platform packed with a set of anti-fraud tools, built-in machine learning and AI solutions, non-invasive 3D Secure, to name a few. Keep in mind that not all machine learning solutions are equally effective, so ask your payment provider for dynamic rules that adjust to your industry. Static rules can be inaccurate since customer behavior differs from market to market.
Subscriptions in the travel industry
People that travel frequently are especially focused on getting the most value for their money. They use travel apps and booking websites to find the best deals that fit in their personal preferences and less traditional options among services based on the sharing economy.
We can see a growing number of travel companies that will provide subscription-based services over the next few years. It’s not surprising, as a subscription-based model is an opportunity for increasing customer retention, and travel is one of the industries with the biggest potential in this field.
For many people, traveling is not a regular activity, so the subscription-based model needs to come with a price advantage and should be created mostly for frequent travelers, such as offers when subscribers don’t have to pay for checked bags. It can be quite difficult to attract a vast majority of customers, however, many companies can benefit from offering subscriptions for local travel activities, entertainment, car rentals, theme parks, and similar.
Recurring card payments, when implemented properly, give businesses an added convenience, regular sales opportunity, and predictable cash flow. Take note that SecurionPay delivers solutions that help companies unlock the potential of recurring card payments without redirections, so you can attract today’s travelers who are more demanding than ever. You can set up any scenarios you need and combine various billing models, so subscription payments can be connected with single purchases. The payment platform also allows managing transactions more easily, browse the payment history, create charges or assign customers to certain subscriptions. So, why not give it a try?
Is your travel business future-proofed?
With the right tools and a reliable payment platform in place, travel companies can scale effectively and provide travelers with uninterrupted experience. Companies in the industry need to remember that travel experience starts from planning and doesn’t end on the travel itself.
A travel market is a diverse place, so only companies that respond to market demands and provide enhanced and secure traveling experiences won’t be left behind.
Are you interested in technologically advanced payments adjusted to your travel company? Don’t hesitate to contact us.
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