Countries Covered: Argentina, Australia, Brazil, China, France, Germany, India, Italy, Japan, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UAE, UK, USA
Publication Date: 16/01/2020
Questions Covered in the report:
- What are the top payment trends in global digital travel?
- Which payment methods do global travelers prefer to use?
- How do online payment preferences vary by country?
- What is the projected size of the worldwide digital travel market in 2023?
Travel Payments Shifting To Alternative and Mobile Means
Alternative payments rise in online travel
According to the findings of the yStats.com report, credit cards use in gradually being supplanted by alternative payment methods when it comes to paying for online travel bookings. Close to a third of travellers expected a wide choice of payment methods to be offered at online checkout and even a higher number would feel frustrated if they could not pay with their preferred payment mean. With over USD 1 trillion of digital travel sales to be at stake in a few years’ time, online travel agencies, airlines and accommodation booking websites are striving to add more alternative payment methods in addition to credit cards to meet their customers’ expectations.
Travel payments turning mobile
Another major trend in digital travel payments is the rise of mobile wallets. With a growing number of travel bookings taking place on mobile devices, seamless in-app payments play an important role in the customer experience. The need for fast and convenient mobile travel payments is confirmed in a 2019 international survey cited by yStats.com in the new report. The study reveals that a double-digit share of respondents would pay for their last-minute travel purchases via airline apps. One further emerging trend is voice-enabled payment. While voice payments are currently trending for low-value purchases, travel bookings and holiday purchases via smart speakers and digital voice assistants are also of interest to a growing number of consumers.