Technology has transformed how we travel and what we experience when we do. More recently, it’s changed how we pay for it too, with the usage of financial technology or “fintech” quietly building behind the scenes. The rise of e-commerce and digital service platforms like Amazon and Uber brought seamless, “pay anywhere, anytime” payment systems to the masses, and the technology changing how money moves has been advancing rapidly ever since.
For the travel industry, fintech has the potential to expand businesses revenue streams, reduce costs and improve the customer experience. In fact, nine out of ten leaders in the travel business view fintech and payments as not only a high priority, but an important investment for capturing the expected rebound in travel – making it potentially one of the most significant advancements in travel technology to date. Here are a few ways fintech is being used in travel, for both companies and consumers alike.
Modernizing Payments for…