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This article includes tips, suggestions and general information. We recommend that you always do your own research and consider getting independent tax, financial and legal advice before making any important decision.
Family beach vacations. Big-city work/play trips. Luxury cruises. Travellers are choosing their own adventures, and the travel and tourism industry is booming. Global revenue is projected to reach $1.39 trillion by 2030, at an annual growth rate of 7%.1 And online sales are expected to comprise 76% of that revenue.2
This creates opportunities for travel retailers. And reimagining travel payment options can go a long way toward attracting new customers and growing sales.
Today’s travellers have high expectations throughout their journeys. From planning to the return home. And they’re looking for convenient, flexible online payment experiences wherever they are.
Buy now, pay later (BNPL) options give travellers the flexibility to pay over time for pricier items like flights and hotels. Of consumers surveyed, 71% said they’re likely to use BNPL payment options, such as PayPal Pay Later, for travel purchases.3
Even before departure, travellers could be prime targets for fraud. A travel payment processing provider with global fraud management tools can help address issues such as identity authentication, account takeover, and chargeback fraud. PayPal offers fraud management solutions that use machine learning to harness the insights from billions of annual transactions around the globe. That can help your business address fraud risk.
Digital wallets and other contactless payment options make payment easy for both travellers and merchants. Among travel merchants, PayPal is the most common online digital wallet offered globally,4 helping enable merchants to offer services in 130 currencies.
Whether you provide tickets, rentals, transportation, adventures, or other experiences, data-driven personalisation can help your customers get more from their journey. Leveraging data can help you elevate their experience. And help keep your business at the forefront of evolving technology.
A traveller-friendly online experience helps create a positive customer journey. And that can help drive sales and loyalty.
PayPal is a worldwide leader in digital commerce. With over 400 million active consumer accounts in more than 200 markets around the globe,5 we have the travel payment options that can help your business take flight.
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