Paul van Alfen’s Post

Examining the headline in Pauls's post actually tells a story that perhaps IATA doesn't want to hear. The key question is whether or not IATA's payment/settlement services are actually still fit for purpose? The airlines are clearly not emphasizing their focus on IATA's solutions. Increasingly they are using alternative forms. Why? I would say there are two basic reasons. IATA's costs are high and their solutions, as the pandemic demonstrated were inadequate, as a true settlement system. The other reason is that alternatives have emerged which are cheaper and extracting time from the process. IATA needs to significantly up its game if it wishes to stop the erosion of marketshare in settlement. This erosion is coming not just from the move to more direct transactions but also that the airlines use of OOSD opens up alternative paths to financial settlement. #Payment #OOSD #IATA #Airlines

Airlines' Strategic Shift in Payment Management Airlines are seizing control over their payment processes, opting for direct solutions to enhance efficiency and reduce costs. A recent article by IATA explores this trend, highlighting how airlines are prioritizing direct payment methods to streamline operations and safeguard against external market fluctuations. At FinMont, we specialize in payment orchestration solutions for travel merchants, empowering them to optimize transactions seamlessly. Our platform supports airlines in navigating these changes, ensuring they maintain operational flexibility and mitigate financial risks associated with fluctuating transaction costs and data security concerns. Read more about how airlines are reshaping payment dynamics to navigate the evolving landscape of global travel. Take a look at the article here: https://lnkd.in/ePQ4xhQf finmont.com #PaymentOrchestration #FinMont #Airlines #PaymentManagement #IATA #AviationIndustry #BusinessStrategy

IATA's Financial Settlement Systems (IFSS) are continually enhanced to meet industry demands. IATA's SVP for Financial Settlement and Distribution Services, Muhammad Ali Albakri, emphasizes the importance of aligning IFSS with airline needs, especially in embracing new digital payment forms like digital currencies. As payment becomes integral to Modern Airline Retailing, IATA's efforts in standardization and solution provision aim to empower airlines in shaping a seamless and customer-centric payment landscape. Let's drive value creation and maximize sales conversions together! Read more here: https://lnkd.in/eJcD8U7C #IATA #IFSS #ModernAirlineRetailing #DigitalPayment

What does airlines' New Payment Capability (NPC) look like? In 2011 I wrote a business case for a new project called New Distribution Capability (NDC). Around the same time, as distribution and payment are closely related, I was working on another one for a New Payment Capability (NPC). The approach was similar: improve the customer experience by leveraging modern technology. However, other dimensions of these initiatives, from the roles of incumbents to their business models, varied a lot between the two domains. IATA ended up launching multiple payment projects, such as IATA EasyPay. What would an airline’s New Payment Capability look like today? Read full article by Eric Léopold: https://wp.me/pdIrRr-77J #aviationefst

How do you know you've future-proofed your payment strategy? Here are 5 ways. Learn how payment digitalization, alternative forms of payment (AFPs), and robust partnerships can help airlines and travel brands improve their operations: https://lnkd.in/gPkArdxU #travelpayments #digitalpayments #paymentstrategy

In the dynamic landscape of the airline industry, optimizing revenue streams and enhancing payment performance are essential to success. Airlines can unlock hidden revenue and bolster their financial health by implementing a series of best practices.

As the travel industry adapts to changing consumer preferences, a significant shift is underway in how airlines manage transactions. A recent PaymentsJournal article features insights from our latest study, "Payments Come of Age: A Global Study." 🔹 62% of airlines now accept alternative payment methods, reflecting a broader move towards accommodating diverse payment preferences. This includes the adoption of 'Buy Now, Pay Later' (BNPL) services by 30% of airlines surveyed, showcasing a commitment to flexible payment solutions. 🔹 Additionally, nearly 26% have integrated online bank transfers, and 24% offer pay-by-link options, enhancing convenience for passengers and streamlining operations. Despite these advancements, the industry faces challenges in fully meeting passenger payment preferences. As airlines continue to evolve, the focus on expanding and optimising payment methods will be crucial for enhancing customer experience and operational efficiency. To read more click here 🔗 https://lnkd.in/g4mUbGq5 #Airlines #PaymentSolutions #TravelIndustry #DigitalPayments #BNPL #Innovation

Sharing this article from Outpayce, detailing the collaboration between the International Air Transport Association (IATA) and Outpayce from Amadeus to optimize account-to-account payments for airlines. This initiative not only enhances operational efficiency but also reduces costs and improves customer experiences through secure, direct payment options. My key takeaways from this article: 1. Pioneering Implementation: Philippine Airlines is the first to adopt IATA Pay via Outpayce’s Xchange Payment Platform, leveraging new APIs for swift, self-service connectivity. 2. Airline Benefits: Simplifies payment processes, eliminates intermediaries, reduces transaction fees, and enables secure, direct transfers. 3. Customer Benefits: Offers improved security and privacy, quicker transaction times, and builds enhanced trust through direct financial interactions. 4. Industry Impact: Has the potential to revolutionize airline payment practices and contribute significantly to global digital transformation efforts.

Airlines worldwide are increasingly accepting alternative payment methods for both ticket purchases and in-flight amenities. However, they are still struggling to provide enough alternatives to meet their passengers’ needs. Data from CellPoint Digital found that 62% of airlines already accept alternative payment methods. Indeed, 30% of respondents had implemented buy now, pay later (BNPL) services, while nearly as many have used online bank transfers (26%) and offer pay-by-link (24%). Read more: https://ow.ly/3rhe50S48s0 #payments #airlines #alternativepayments #BNPL #POS

I'm delighted to share that Outpayce has partnered with HSBC — the latest development in changing how airlines price fares in travelers’ preferred currency.      Japan Airlines leads the way as the first carrier to secure HSBC’s globally competitive FX rates through our new partnership. This move aligns with recent Amadeus research indicating that a third of airlines are gearing up to offer Multi-Currency Pricing within the next year.     At Outpayce from Amadeus, we understand the importance of providing a smooth payment experience. Too often, travelers encounter frustrations when prices are displayed in a default currency rather than their own. That's why our collaboration with HSBC expands our offering, enabling airlines to tap into more than 170 currencies and tailor fares currencies to each traveler's needs.     Our FX Box Multi Currency Pricing (MCP) solution also empowers airlines to offer transparent pricing for FX services rather than travelers often incurring opaque fees should their bank provide these services. By integrating real-time FX rates and offering full control over pricing displays, we're streamlining the booking and payment process for travelers worldwide.     Exciting times ahead.     https://lnkd.in/d9dfnw3C     #Partnership #TravelInnovation #CurrencyPricing