Although the travel industry is no stranger to hardships, it has been seriously damaged by the pandemic. Despite the pandemic, one thing that did not come to a stop was transactions.
This is so because customers are interested in and are willing to travel again. This is implying strong post-pandemic confidence in the travel sector.
Cashless payment options are hence becoming the determining factor on how customers book travel, and who they remain loyal with.
The Digital payment Index for India Skyrocketed by 30 per cent between 2020 to 2021. According to a Travel Consumer Survey, 68% of respondents agree technology is the key to a better travel experience― especially those in the 18 to 44 age group.
The trend is a wake-up call for travel businesses who are planning to relaunch and reposition themselves in the post-pandemic world. If your travel business is trying to keep up with the fast-changing trends, digital payment gateways are a step in the right direction.
1. Travcollect- The Perfect Payment Solution for Travel Agents
We at Travclan are constantly innovating to bring you B2B solutions for your travel business. Travecollect is a dedicated payment gateway feature for Travel Agents. It allows you to generate payment links and receive payments via TravClan Wallet.
The collected money can be further used to make payments to suppliers or can be withdrawn at any point in time, without any additional charges.
The ultimate lever that can transform your travel business and make it future-ready is to ease cash flow and move alongside the changing preferences of the contemporary traveller
2. Flexibility becomes Top Priority
Today travel is transforming and the changes are likely to stay for a long time. Amidst the unprecedented events, the travel industry quickly resolved to digital solutions, to minimize the crisis.
Purchase patterns and travel behaviour has been drastically impacted, as more and more people are booking flights at the last moment. Digital innovations that allow travellers to make last moment changes without penalizing or causing discomfort will naturally become an attractive option.
The best part about digitized payments and cash flow is that it makes the refund process super convenient at both ends. Especially during the on and off travel situations, when reverse cash flow became a major concern.
3. Digital First Experience
One of the most obvious changes in the travel industry was the implementation of contactless services. Digital wallets, QR codes etc are becoming increasingly popular among travellers and suppliers.
Air Asia for instance shifted to complete contactless services during the pandemic.
Digital payments have a combined benefit- they allow contactless cash flow and provide additional options like instalments, financing etc
4. Build Trust with Safety
A hassle-free travel experience must not come at the cost of one’s safety. Mitigating fraudulent transactions has been an ongoing challenge for both travellers and agents. A safe payment gateway is not only attractive to customers but is imperative for your travel business to maintain and compete with confidence in the marketplace.
The relationship between better trust and better conversion has been long tried and tested. It is therefore important to create safe and convenient modes of transactions for your clients. It will also elevate their overall experience of booking with you.
5. A Road Map to Recovery
As vaccines roll out and border shift gears to unlock and welcome travellers, travel will be back with a bang, however, post-pandemic growth for your business is highly dependent on your ability to harness the benefits of digitalization.
The option of cashless transactions allows businesses to reduce overhead costs of maintaining finances. It further allows you to expand your supply chain and deal effectively with other businesses.
The travel industry as a whole is going through testing times, but a massive bounce back is anticipated. Therefore, this is the best time to step back and strengthen the core structures of your business, to ensure smooth functioning in future.
Are you interested in going cashless with your Travel Business? If yes, then fill up this form and we will arrange a call back from TravClan Team!