Have you ever struggled with payment options while traveling? We’ve all been there. But fret not, Pelago, the travel experiences arm of Singapore Airlines Group, is set to revolutionize our travel payment experience through a fresh partnership with Primer, a global payments-infrastructure provider. Travel payments in Asia singapore airlines

Let’s dive into how this collaboration is poised to transform the travel and tourism landscape in Asia.

Asia’s Booming Travel Industry

By 2024, Asia’s travel and tourism revenue is expected to hit a staggering $326 billion. This phenomenal growth is a golden opportunity for travel providers to innovate and streamline their services. But there’s a catch – Asia’s payment landscape is incredibly diverse and fragmented. So, how can companies navigate this complexity?

Why Payments Matter

In the world of travel, payments are more than just transactions; they’re the lifeblood of seamless travel experiences. From booking flights to enjoying local tours, the ease and security of payment methods can make or break a traveler’s journey. Pelago understands this and is stepping up to offer a variety of local payment methods.

Pelago’s Ambitious Expansion Strategy

Pelago aims to provide access to local payment methods, reducing processing costs and enhancing fraud prevention. As Altaf Dhamani, Chief Product Officer at Pelago, points out, “The rise of digital wallets and real-time payments in this region has made it crucial for us to offer these options.”

The Rise of Digital Wallets

Did you know that Singapore alone has numerous alternative payment options? PayNow, Kris+, GrabPay, ShopBack, and Atome are just a few examples. This variety is typical across Asia. Hence, Pelago’s goal is to build a robust payment system that can navigate the complexities of cross-border transactions and adapt to different payment ecosystems.

Cross-Border Transactions

Cross-border transactions are a critical aspect of Pelago’s operations. Ensuring these transactions are secure and cost-effective is paramount. Enter Primer, with its cutting-edge infrastructure and expertise in global payments.

Primer’s Role in Pelago’s Payment Strategy

Primer is no stranger to the challenges of cross-border payments. Kailash Madan, head of global sales at Primer, highlights the importance of transaction security. “We can support Pelago’s smooth transition to tap into multiple payment systems, reducing processing costs and improving operational efficiency through fraud prevention integrations.”

Unified Payment Infrastructure

Primer’s unified payment infrastructure allows Pelago to integrate multiple payment methods quickly. This flexibility is crucial as Pelago expands into new markets. The result? Efficient scaling without significantly increasing the team size.

AI-Powered Payment Solutions

One of Primer’s standout tools is UpliftAI, which uses AI to predict the ideal payment route for each transaction in real-time. This innovative approach ensures smoother and more cost-effective transactions, benefiting both Pelago and its customers.

Benefits of the Partnership

Pelago’s partnership with Primer is already bearing fruit. The shift to multiple payment systems has significantly reduced costs, particularly for the currencies launched so far. Pelago is also implementing local acquiring setups in specific markets to further lower transaction fees.

Reduced Costs Travel payments in Asia singapore airlines

By partnering with Primer, Pelago has seen a noticeable reduction in processing costs. This is particularly true for the currencies they have already launched. The savings are substantial and contribute to Pelago’s overall goal of cost-efficiency.

Enhanced Fraud Prevention

Security is a top priority for Pelago. Primer’s infrastructure includes advanced fraud prevention mechanisms, ensuring that every transaction is secure. This not only protects Pelago but also builds trust with customers.

Operational Efficiency

With Primer handling the complexities of payment integrations, Pelago can focus on its core business – providing memorable travel experiences. This operational efficiency allows for better resource allocation and a more streamlined workflow.

The Future of Travel Payments

As we look ahead, it’s clear that the future of travel payments lies in embracing digital solutions and local payment methods. Pelago’s collaboration with Primer is a step in the right direction, ensuring they stay ahead of the curve in Asia’s dynamic travel market.

Embracing Digital Solutions

The shift towards digital wallets and real-time payments is unstoppable. Pelago’s proactive approach in partnering with Primer positions them well to cater to the evolving preferences of travelers across Asia and beyond.

Adapting to Local Markets

Understanding and adapting to local payment preferences is crucial. By offering a variety of payment options, Pelago ensures that travelers can pay conveniently, no matter where they are.

Staying Ahead of the Curve

Innovation is key in the competitive travel industry. Pelago’s strategic partnership with Primer showcases their commitment to staying ahead of trends and providing exceptional travel experiences.

Conclusion Travel payments in Asia singapore airlines

In a nutshell, Pelago’s partnership with Primer is set to redefine travel payments in Asia. By embracing local payment methods, reducing costs, and enhancing security, Pelago is well-equipped to navigate the complexities of the region’s payment landscape. As we move forward, this collaboration promises to deliver seamless, efficient, and secure payment experiences for travelers across Asia and beyond.