News

Visa, AMEX, and Mastercard predictions for international travel recovery

Wednesday 2 February 2022 11:31 CET | News

Worldwide card issuers Visa, AMEX, and Mastercard have all announced different timelines regarding the return to cross-border travelling to pre-pandemic levels.

While posting their quarterly financial results at the end of January 2022, all major card issuers have expressed different points of view when it comes to travel restrictions easy, following the third year of the COVID-19 pandemic.

AMEX mentioned that the recovery will be slower for international and cross-border travelling, based on customer types and geographies. Although travel bookings gained momentum at the beginning of 2022, AMEX predicts that large and global corporate travel and entertainment spending will be the last segment to recover.

Visa representatives are slightly less optimistic, mentioning cross-border travelling will continue its steady recover throughout the 2022 fiscal year but, at the earliest, will reach 2019 levels in the summer of 2023.

Mastercard officials seem to be more trustworthy in the end of the global pandemic, expecting for cross-border travel to return to its 2019 volume by the end of 2022. With the latest Omicron variant being weaker than the previous ones and most countries shyly opening their borders, domestic and leisure travel should be the first ones to recover.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Visa, Mastercard, American Express, travel payments, cross-border ecommerce, credit card
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce






Industry Events