This year’s Travel Tech Show at World Travel Market in London will focus on payments solutions following feedback from last year’s attendees that they would like more insight into the sector.
Payments solutions will have a dedicated lounge, and sessions will look at the shift to online and mobile transactions as well as business-to-business solutions which facilitate the way that suppliers pay each other, how intermediaries pay suppliers, or how suppliers and intermediaries pay commission to agents or affiliates.
More than 2,000 attendees at last year’s WTM London expressed an interest in payment solutions, according to the event organisers, led by accommodation providers and followed by retail and online agents and tour operators.
More than 300 chief executives and managing director level attendees expressed an interest in learning more about payments solutions.
Worldpay has carried out research into how and why travellers in six key markets pay for their vacations and found that while credit and debit cards are still prevalent, so-called alternative payment methods – such as Paypal – are gaining traction in mature markets as well as emerging ones.
Worldpay’s study suggests international brands should allow Chinese tourists to pay using Chinese methods, such as Alipay, to capitalise on the country’s 100 million outbound travellers.
WTM London senior director Simon Press said: “Effective payment mechanisms are needed for consumers to buy their trip and for suppliers and intermediaries to pay each other.
“The Payments Solutions lounge at The Travel Tech Show at WTM will give the payments industry the profile it deserves at the leading global event for the travel industry.”