21.5 C
Cape Town
Sat, Feb 20, 2021
Home Tips ‘Snapshot of Travel in 2017 and Beyond’ report: Payments

‘Snapshot of Travel in 2017 and Beyond’ report: Payments

-

1 min read

Overtourism, chatbots and the rise of social media influencers were among the main travel trends that emerged within the travel industry in 2017. This is according to a trends report compiled by specialist Cape Town-based travel content and marketing agency, Big Ambitions.

Here’s a closer look at the report’s section on payments

The new normal sees travellers call an Uber from an App, settle their lunch bill with Zapper and pay for their visa on arrival in cash. The way in which people pay for elements of their trip is changing rapidly, with alternative payment methods like mPesa in East Africa entering the cash and credit card fray.

And then we have tokenisation and cryptocurrencies, the latter consistently addressed in 2017 without much clarification on how it will impact travel. Industry pundits say it’s too early to tell how the likes of blockchain will replace existing methods of travel distribution.

Blockchain is a decentralised encrypted database where digital transactions can be stored and organised in a transparent, verifiable and secure way and brings such benefits as reducing fraud and errors, and ensures the information is auditable always.

The consensus is that it needs to be cheaper or better than the Global Distribution Systems that currently allow a travel agent to book a flight, hotel or car.

That said, however, travel suppliers are starting to experiment with Blockchain technology and are aware of where the technology can play a role in future, for example in settling payments between travel providers and streamlining traveller ID verification. Lufthansa and Air New Zealand, for example, are moving towards a blockchain-based distribution platform.

To view the full trend report, click here or email Danica@bigambitions.co.za for more information.

Jeanette Briedenhann
Jeanette Briedenhann
Jeanette Phillips joined the team in 2016. She developed a passion and love for all things-travel related in her role as travel journalist, a position she held for over seven years. A brief exodus into the corporate marketing sphere proved that there is no better industry than the travel industry. Research and writing are two of Jeanette’s greatest passions, but she is always open to new challenges and different ways of doing things.

Must Read