Vacation and payment trends: some basic and not-so-basic “tips”

The tourism sector is preparing for a record-breaking Easter, marked by unprecedented optimism and a reservation forecast that predicts a historic year. In a macroeconomic context with greater stability than last year and with customer habits evolving towards greater use of experiences and services, a scenario of growing demand is emerging.

The year 2023 closed with the best numbers so far, but this year will not lag behind as it is expected to reach historic numbers in the spring season thanks to the improved anticipation in reservations, which led to an increase in occupancy by 13 % has led. more compared to last year.

With this growth in the tourism sector comes new consumption trends. Leisure and business travelers’ technology needs are increasing as they advance in their search for personalized experiences. Last year was marked by the digitalization of the customer experience, and this year technological innovation in shopping and payment solutions takes another step and becomes a game changer for travelers. Sipay tells you some basic and not-so-basic tips that are revolutionizing the tourism sector.

  1. Digital payments

Digital payments offer convenience and accessibility to travelers. Digital wallets and payment methods make transactions almost effortless and streamline the purchasing process, whether it’s booking flights, accommodation or attraction tickets. This accessibility ensures travelers can efficiently manage transactions around the world, eliminating the need for physical currency or traditional payment methods.

In addition, digital payments offer greater security as opposed to cash transactions Digital payment solutions have forms of encryption and fraud detectionto protect sensitive financial information from unauthorized access.

  1. Integration with travel apps and platforms

He The rise of travel apps and platforms has revolutionized travel planning and booking. Digital payment gateways integrate with these platforms and allow travelers to conduct transactions within a single app or website.

This integration leads to a smoother customer experienceHere travelers can search for flights, hotels and activities, compare prices and make payments without having to switch from one platform to another. The efficiency of digital payments streamlines the entire process, saving travelers time and effort.

  1. Personalization and loyalty programs

Digital payment solutions open the doors Personalized offers and loyalty programs in the travel sector. Companies can Use customer data to offer personalized recommendations, discounts and unique experiences. Targeted marketing campaigns and loyalty programs reward frequent travelers, improve customer satisfaction, encourage long-term loyalty and encourage repeat bookings in the future.

  1. Financial technology
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Looking for consumers Flexibility and adaptability and financial technology offer the customer attractive solutions to freeze pricesChange or cancel reservations, easily rebook in interrupted processes and also pay with your preferred payment method.

Likewise, deferred payment or “buy now, pay later” options are becoming increasingly popular among travelers due to their accessibility, affordability and ability to spread costs. Monthly or recurring payments replace one-time purchases, improving customer cart value and conversion rates.

  1. Currency conversion and A2A payments

Travelers no longer have to worry about carrying money in local currency or dealing with high exchange rates. Digital payments enable transactions in different currencies with automatic conversion rates via the DCC (Dynamic Currency Conversion) service offered by many merchants.

This simplifies the process for international travelers by allowing them to pay in their home currency while ensuring transparency and competitive exchange rates. We also offer domestic and international tourists the option to pay from their respective locations A2A accounts like Bizum in Spain are the next step towards an accessible, convenient and satisfying shopping experience.

  1. Web 3.0 and biometric payments

Finally, it is worth commenting on trends that border on the futuristic, but will undoubtedly become contemporary. The tourism sector is intensively exploring the benefits that Web 3.0 offers. This new generation of technology, based on blockchain and decentralization, promises significant changes in crucial areas such as reservation management, data security, price transparency and the creation of hyper-personalized experiences for travelers.

Facial and digital recognition technologies, in turn, provide a high level of security in authentication. Some hotels use this technology for room access, but it can also be easily integrated into an operation, for example by leaving a checkout unattended. Likewise, the use of biometric data will enable airports and tour operators to offer the user a contactless and convenient payment experience at all points of the journey.

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