Data shows that when comparing similar flight costs, travel times or comfort levels, airline passengers usually end up picking the airline that accepts the payment method which they use regularly. When credit cards or cash were the only options for travellers, their choice of payment providers was an afterthought, not the decisive factor that it is today.
At present, there are more than 300 alternate payment methods including WeChat Pay, Alipay, GooglePay and Apple Pay. Furthermore, people can now pay for flights through loyalty schemes. As airlines try to provide more convenience and choice for customers, it is inevitable that they will face high costs and considerable complexity.
These companies must also consider the importance of PCI compliance regarding the protection of sensitive data, as well as volatile Payment Service Provider (PSP) fees, settlement and reconciliation protocols, and the increased risk of fraud. All of these factors exacerbate an already intricate payments processing challenge.
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