Following this announcement, the unified infrastructure for global payments company Primer, and Pelago, the travel experiences arm of the Singapore Airlines Group, have entered a partnership that will allow Pelago to optimise its overall payments strategy for its customers and collaborators.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of worldwide clients and travelers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Projections indicate that the overall revenue from travel and tourism in Asia is expected to grow to USD 326 billion by 2024, with an annual growth rate of 5.36% being set to take place between 2024 and 2028. In order to benefit from this growing opportunity, travel providers will need to address Aisa’s diverse and fragmented payment landscape.
Throughout this strategic deal, Pelago will have the possibility to reconfigure its payment stack in order to improve the client experience with local payment methods, reduce processing costs through several processors, as well as optimise operational efficiency and fraud prevention capabilities with third-party integrations.
At the same time, the collaboration will enable Pelago to unlock further development opportunities by scaling to new markets faster and offering access to experiences that connect travelers to both global and local cultures, in particular in Singapore and destinations that are served by Singapore Airlines.
By leveraging Primer’s unified infrastructure, Pelago will have the capability to integrate several processors to ensure resilience, reduce cost and optimise payment performance, while also delivering more payment methods in order to design secure and efficient experiences for global travelers.
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