TravelPaymentsGuide2019We’lltakeyourpaymentsanywhereyouwant.ForewordfromAmadeus2019TrendsMarketsOverviewPaymentsGlossaryMethodologyTravelPaymentsGuide20191-https://www.iata.org/pressroom/facts_figures/fact_sheets/Documents/fact-sheet-industry-facts.pdf2-https://www.iata.org/pressroom/pr/Pages/2018-10-24-02.aspx3-AlargeAmericancarrier,whichhasamulti-teampaymentstrategycommitteewithrepresentativesfrommarketing,financeandIT.Anotherexample,alargeEuropeanairlineweworkwithhasadedicatedinternalITteamof15-20focusedpurelyonpayments.Foreword:ThebalanceofpaymentsBartTompkins,ManagingDirector,AmadeusPaymentsRonnied’Arienzo,ChiefRevenueOfficer,PPROGroupThepaymentsprocessiscentraltothecustomerexperienceinmanyindustries–perhapsmoresointravel.Theairlineindustryhasanestimatedglobalrevenueof$821billion,1andpassengernumbersareexpectedtodoubleto8.2billionwithin20years.2Asitgrowsitfacesmajorchangesinbothdistributionandpayments.TheInternationalAirTransportAssociation(IATA)isforecastingafundamentaloverhaulasairlinesmigratetowards“fullretailing”platforms.Thiswillrequirethemtoselltoagreaterrangeofcustomers,bothgeographicallyanddemographically.TheymustengagewithnewemergingmarketsandmillennialsandGenerationZbuyerswithverydifferentexpectationstopreviousgenerations.Many,ifnotmost,willuseonlinechannels.Airlines–andagents–mustcontendwithdigitalinnovationandnewentrantsintothepaymentsspace;anevolvingregulatoryenvironment;andchangingcustomerrequirements.Tofaceuptothesechallenges,theymusttreadafineline:balancingconflictingdemandsbetweencostandconvenience,simplicityandsecurity,technologyandtradition;gatheringthedatarequiredforbusinessandregulation,preventingfraud,whilealsomeetingcustomerdemandsforasmooth,seamlessexperience;makingsurepaymentsmethodsmovewiththetimesbutremainfirmlyconnectedwiththecultureinwhichtravelmerchantsoperate;andfocusingonkeepingconsumershappyandgivingthemtheirchoiceofpayments,whilekeepingcostsdown.It’sadifficultacttopulloff.Andunfortunately,consumersnoticemostwhenbusin...
