The State of Consumer Payments in Travel 2017
Skift Take
The leather wallet is facing increasing competition from digital alternatives. In this report we explore the types of innovations shifting the payments ecosystem and identify how early adopters have been able to leverage new payment systems to drastically cut operating costs while giving consumers a better payment experience.
Report Overview
The leather wallet is facing increasing competition from digital alternatives. In this report we explore the types of innovations shifting the payments ecosystem and identify how early adopters have been able to leverage new payment systems to drastically cut operating costs while giving consumers a better payment experience.
Featured Quote
“What's going to happen in the shorter term is that people are going to use digital currency as a payment method, especially in developing countries where the payment infrastructure is not as robust. It's true that merchants have a pain point around payments today with the costs and the charge backs and the declined charges in certain countries. It's not great, but it's working. Whereas payments in many developing countries, payment systems are non-existent or the fees are exorbitant, so I think it's going to be adopted in developing countries first and that could open up a category of travel that is probably more reliant on cash right now.” - Brian Armstrong, CEO of CoinbaseWhat You'll Learn From This Report
- Emerging payment technologies
- How businesses are turning consumer habits into new business models
- Why mobile wallets matter
- Why P2P wallets are attractive for both users and merchants
- How chatbots are expected to reshape online payments
- The rise of cryptocurrencies and its advantages
- The Chinese outbound travelers' payment behavior
