Ixaris, Visa to target the underserved global travel payments market

As part of the agreement, Ixaris will offer the travel industry new opportunities to drive payments optimisation and cost efficiencies.

According to the company’s internal research, the cost of payments for an average online travel agency (OTA) can amount to 20% of gross profits. With payments deemed a strategic priority for 84% of OTAs, but with 36% not knowing what payments actually cost them, the company believes that it is clear that there is a tremendous untapped opportunity for Ixaris to exploit.

Ixaris Megatrends 2020 research surveyed more than 100 travel industry experts with interviews held with 18 travel executives from companies including Skyscanner, Airbnb and IATA.

Key findings:

• 44% - proportion of time spent managing payments by large travel companies;

• 60% of travel companies want lower cost of transaction;

• Yet 36% of travel companies surveyed do not know what payments actually cost their business;

• Payments is a strategic priority for 84% of respondents.