Speaking to ITB Berlin News, Alexander Leferov, Chief Business Development Officer, Travel & Hospitality, ECOMMPAY, described the main behavioural trends facing the industry as we enter a new decade.
In 2020, tourists are breaking away from the long-standing tradition of decisiveness and caution, opting instead to pay more for their “ideal” holiday. The industry has reacted immediately to these new payment trends. Bespoke luxury itineraries require prior confirmation and prepayment. Previously, the invoice would be sent by mail, signed, scanned, and then paid. Now, this has all been replaced by the automatically-generated payment link, sent digitally to the client.
What other trends are affecting payment methods?
The biggest payment trend for heritage tourism – where people go off-grid to source their ancestry – is alternative payment methods. Visa, Mastercard, and American Express cards still aren’t available everywhere. Many Europeans prefer the convenience of virtual wallets like Apple Pay or Google Pay for international travel.
How does sustainable tourism change payment behaviours?
In 2020, socially conscious holidaymakers are keeping the environment in mind. Already, 48% of respondents to a Booking.com survey are planning to reduce their global footprint by travelling by more eco-friendly means and reduce plastic waste. As society edges ever further to a cashless reality, it becomes harder and harder to escape reliance on this payment system.
Photo: Alexander Leferov, Chief Business Development Officer, Travel & Hospitality, ECOMMPAY