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Trustly releases new report on travel payments

Monday 21 June 2021 15:02 CET | News

Trustly has launched a new report that looks at the impact the COVID-19 pandemic has had on payments in the travel industry and the opportunities on the horizon.

Trustly commissioned iResearch, an independent market research firm, to conduct primary quantitative research on its behalf among payments leaders in travel merchants across six European markets. The total 450 respondents were distributed across Denmark (15%), Germany (18%), the Netherlands (16%), Norway (15%), Sweden (16%) and the UK (20%), and split 38% airlines to 62% online travel agencies.

The results reveal the long-standing payments challenges and opportunities facing travel merchants ahead. A few highlights include: 

  • 69% of airlines cited cash settlement speed as one of their top issues with their current payment mix;
  • 72% of travel merchants believe bank payments deliver significant value for merchants;
  • 77% of airlines said it’s ‘very important’ to reduce the costs associated with fraud and chargebacks;
  • 61% of payments leaders said one of their top payments challenges for the next few years is regulatory changes (SCA, GDPR) reducing conversion — the top ranked issue;
  • 88% of travel merchants agree that it’s important to offer local payment methods in their growth markets;
  • 53% of travel merchants ranked diversifying payment methods away from cards in their top three challenges (placing it second overall).

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Keywords: report, travel payments, COVID-19, merchants
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce