Developments

Digital disruption in payments


19/10/2016 12:15 pm - 12:45 pm

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Edouard Le Lesle

Digital disruption will affect every aspect of your money: how you earn it, save it, invest it and spend it. But how can you take advantage of this evolution¬†within your travel company?‚Äč
The payment industry has evolved dramatically over the last few years, allowing consumers to make contactless payments, with their mobile phones, or even with other objects like wristbands or rings. This is not the future, it is already happening. New banks are also arriving in the markets, with the latest technology and will try to disrupt the industry.
So how will payments disruption affect travel agencies and why is it important for each travel company, large or small, to define a clear and efficient payment strategy? Because they have to pay suppliers all around the world, in multiple currencies and often face high foreign exchange fees, risk of fraud, supplier bankruptcy, reconciliation issues or credit card surcharges.
Technology is here to help the travel industry be more efficient and optimise its payment processes.
We will have a look at one of the Amadeus Travel Payment solutions designed to overcome these challenges: a virtual card that helps travel agencies optimise their payments to suppliers, offline or online.