Failing to offer payment choices is a guaranteed failure to sell! Plain fact, the modern consumer has a near-limitless degree of choice and will gladly and unassumingly abandon a purchase at checkout if the merchant or service provider fails to offer convenient options, leading to lost revenue for the business.
Last month, I attended a session presented by Vojin Rakonjac from Endava and Fabien Mollinari from Aer Lingus at the Airline and Travel Payments Summit #ATPS2024 that was not short of a masterclass on orchestration.
It is well known that the travel industry operates on some of the most legacy infrastructure. Upgrading such payment infrastructure to accommodate even just new payment methods can be a complex process. Yet this is a significant revenue opportunity as the retailing approach, i.e. selling additional services and features alongside the core travel offering, represents a market that quite possibly ranges in the billions.
Payments go much beyond just entering details. They are about enhancing the customer experience, finding new customers, and expanding into new markets. There are however multiple interdependent layers, as simplified in the visual below, that ensure the seamless processing of transactions. These layers consist of various systems and components that collaborate, or rather have to rely on each others to facilitate the secure and efficient exchange of data for processing these transactions.
A built approach to a payment infrastructure that leverages orchestration involves developing a system where each layer is meticulously designed to be controllable and adaptable. This approach offers several benefits, enhancing the efficiency and reliability of the payment process by integrating and managing those flows through a centralised point, with less dependency on the other systems.
Great insights on Endava’s latest report: https://lnkd.in/djYurygr
👉🏽 Paymentexperts, any insights to share🎤?
Ritesh Christopher Angella Paul hashtag#travelpayments hashtag#airlines
hashtag#paymentsfraud Ai Events | Airline Information
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𝑾𝒐𝒏𝒅𝒆𝒓 𝒘𝒉𝒐 𝒘𝒆 𝒂𝒓𝒆 𝒂𝒏𝒅 𝒉𝒐𝒘 𝒄𝒂𝒏 𝑷𝒂𝒚𝒑𝒓.𝒘𝒐𝒓𝒌 𝒉𝒆𝒍𝒑?
𝘞𝘦 𝘢𝘳𝘦 𝘗𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘴𝘵𝘴, 𝘩𝘦𝘭𝘱𝘪𝘯𝘨 𝘮𝘦𝘳𝘤𝘩𝘢𝘯𝘵𝘴 𝘪𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘧𝘳𝘢𝘮𝘦𝘸𝘰𝘳𝘬 𝘵𝘩𝘢𝘵 𝘰𝘱𝘵𝘪𝘮𝘪𝘴𝘦 𝘵𝘩𝘦𝘪𝘳 𝘱𝘳𝘰𝘤𝘦𝘴𝘴𝘦𝘴, 𝘸𝘪𝘵𝘩 𝘳𝘦𝘭𝘪𝘢𝘣𝘭𝘦 𝘵𝘦𝘤𝘩 𝘱𝘢𝘳𝘵𝘯𝘦𝘳𝘴. 𝘉𝘭𝘦𝘯𝘥𝘪𝘯𝘨 𝘰𝘶𝘳 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘬𝘯𝘰𝘸𝘭𝘦𝘥𝘨𝘦 𝘸𝘪𝘵𝘩 𝘰𝘶𝘳 𝘤𝘳𝘦𝘢𝘵𝘪𝘷𝘦 𝘧𝘭𝘢𝘪𝘳, 𝘸𝘦 𝘤𝘳𝘦𝘢𝘵𝘦 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘤𝘰𝘯𝘵𝘦𝘯𝘵 𝘢𝘯𝘥 𝘵𝘩𝘰𝘶𝘨𝘩𝘵 𝘭𝘦𝘢𝘥𝘦𝘳𝘴𝘩𝘪𝘱 𝘢𝘴𝘴𝘦𝘵𝘴 𝘧𝘰𝘳 𝘧𝘪𝘯𝘵𝘦𝘤𝘩 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘭𝘦𝘢𝘥𝘦𝘳𝘴. 𝘞𝘦 𝘢𝘭𝘴𝘰 𝘥𝘦𝘭𝘪𝘷𝘦𝘳 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘵𝘳𝘢𝘪𝘯𝘪𝘯𝘨 𝘪𝘯 𝘰𝘶𝘳 𝘷𝘪𝘴𝘶𝘢𝘭𝘭𝘺 𝘦𝘯𝘨𝘢𝘨𝘪𝘯𝘨 𝘢𝘱𝘱𝘳𝘰𝘢𝘤𝘩.
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