Airlines and hotels are not payments companies — and they don’t want to be. They are in the business of flying planes and managing hotel rooms and that is where they would prefer to lay their focus. But, like it or not, payments are not...
Airlines often have a tough time with an inconvenient yet necessary aspect of running their businesses — quickly moving passengers between flights. Whether airlines face bad weather, oversell a flight or find additional revenue opportunities at a higher yield, it’s not always easy rebooking passengers....
The global travel industry generates approximately $1.4 trillion in revenue annually and, in doing so, spends 5.4 percent of its revenue processing payments. In fact, worldwide airlines, travel agencies and hotels spend some $75 billion per year to pay their payment service providers. That’s as...
