Credit cards challenged by alternative means in online travel payments
Plastic has traditionally been the main mode of paying for travel bookings online. In the past several years, however, alternatives such as digital wallets and local payment schemes have gained popularity.
A recent survey cited in the report revealed that close to one in three consumers expect travel providers to offer multiple payment options. If not offered their preferred payment mean at the checkout, a double-digit share of respondents would feel frustrated.
The number of payment methods on offer in digital travel is rising
With cart abandonment rates in travel & airlines sector being the highest across all E-Commerce sectors, businesses are taking their customers’ concerns seriously and are adding a growing number of payment methods to their offerings. Furthermore, mobile checkout is being optimized by adding seamless payment methods such as mobile wallets.
- Airbnb Inc.
- Alibaba Group Holdings
- Apple Inc
- Booking Holdings Inc.
- Cleartrip Pvt. Ltd.
- easyJet PLC
- Mastercard Inc.
- PayPal Inc.
- Tencent Holdings
- Visa Inc.
The “Global Online Travel Payment 2020” report has been added to ResearchAndMarkets.com’s offering.