Worldpay reveals "why do travelers pay that way?"
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The webinar discussed payment methods for vacation packages, highlighting trends among 12,000 travelers regarding their preferences for credit and alternative payment methods. Younger travelers prefer using savings for vacation payments, with a high demand for installment plans, particularly in countries like Brazil and India. The session emphasized the rise of mobile bookings and the importance of alternative payment methods in the travel sector.
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Worldpay reveals "why do travelers pay that way?"
- 1. Why do they pay that way? Webinar September 29, 2016
- 2. Your hosts Sean O’Neill Editor in Chief & Moderator Tnooz Gene Quinn CEO & Producer Tnooz
- 3. Poll no. 1 Where are you located?
- 4. V A C A T I O N P A C K A G E S
- 5. merchants c. k : a global leader in payments years of payments innovation transactions during this presentation No. European acquirer. m.
- 7. Poll no. 2 What type of company do you work for?
- 8. Thomas Helldorff VP Airlines & Travel
- 9. About the research S E C T I O N 0 1
- 10. How people pay for vacation packages and why? 12,000 people that had booked a vacation package online in the past year. B R A Z I L I N D I A A U S T R A L I A C H I N A U S A G E R M A N Y
- 11. Culture, demographic and attitudes towards payments Booking the vacation Payments whilst on vacation Our research categories O N E T W O T H R E E
- 12. Culture, demographics and attitudes to payments S E C T I O N 0 2
- 13. Poll no. 3 Do you offer alternative payment methods?
- 14. Young travellers are riding the wave of Alternative Payment Methods Cards vs. APMs 56-65 years old Cards vs. APMs 18-25 years old C R E D I T A P M s
- 15. Poll no. 4 Do you think installment payments would be popular with your customers?
- 16. 90% Yes B R A Z I L 86% Yes I N D I A 76% Yes A U S T R A L I A 72% Yes C H I N A 72% Yes U S A 45% Yes G E R M A N Y Would you pay for their package vacation with an instalment-based payment type? Saving up or vacations on Credit?
- 17. BUT: Younger travellers want to use their savings to pay for vacations 67% of 18-25 year olds chose to use their savings to book vacation packages over their credit- based payment options.
- 18. Booking the vacation S E C T I O N 0 3
- 19. Poll no. 5 What percentage of your customers would pay for travel with a mobile device?
- 20. People research vacations on various devices but still buy on desktop in most markets 20 PAY ON DESKTOP 81% PAY ON MOBILE & TABLET DEVICES 17% PAY ON DESKTOPDEVICES
- 21. 1 in 31 in 100 21 But something is changing in Asia Pacific Travel bookings made on smartphone CHINAGERMANY
- 22. Payments whilst on vacation S E C T I O N 0 4
- 23. Taking your preferred payment method on vacation T A X I B O O K I N G A T T R A C T I O N T I C K E T S G I F T S C A S H 5 6 % 3 7 % 3 8 % C R E D I T C A R D 2 0 % 3 9 % 3 7 % D E B I T C A R D 8 % 1 2 % 1 3 % A I R M I L E S 0 . 1 % 0 . 2 % 0 . 1 % A P M s 1 6 % 1 3 % 1 2 %A P M s 1 6 % 1 3 % 1 2 % A P M s 1 6 % 1 3 % 1 2 %
- 24. 17% 5% 3%21% 10% 5% VR Applications Smartwatches 24 India is leading the way INDIA CHINA US Smart devices for booking travel services
- 25. Summary S E C T I O N 0 5
- 26. Expect an increase in demand for instalment-based payments • Already common in Brazil and South Korea • Making it’s road into Europe • APMs with credit facilities Younger travellers are most likely to use APMs • Harder access to credit and credit cards • Prefer to use savings to pay for vacations • More open to innovation They are keen to use them whilst on vacation too But they believe (or know) they can’t use them when abroad The mobile booking revolution has started, but for now only in China and India. Summary
- 28. Q & A
- 29. Thank you! Send your questions and comments to [email protected] Replay and presentation will be available on www.tnooz.com
- 30. V A C A T I O N P A C K A G E S