On 11th March 2020, the World Health Organization (WHO) declared the COVID-19 outbreak a pandemic. At the time of writing, hundreds of thousands of lives and businesses have been affected. With multiple countries issuing bans on travel across borders and ordering shutdowns of cities and towns, many businesses are seeing the virus take its toll.
In my previous blog, I looked at customer centricity and the way it’s impacting payments in the travel industry. We can all agree that for any travel company, the customer should always be at the center of their payments strategy in order to provide an exceptional customer experience. But what are the growing trends that are impacting the travel industry?
Because of the complexity of authorization, there’s no one-size-fits-all approach that works for everyone. A well thought out strategy, one that considers authorization on a micro and macro level, is crucial to ensuring transactions don’t fall at the final hurdle.
By Dave Janse, VP for Foreign Exchange & Multi Currency Processing
by Michael Bilotta, Head of Foreign Exchange North America and LATAM