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The rise of the On-Demand Economy, where goods and services are only a click away, has fundamentally changed the expectations of the modern consumer: we’re now used to getting whatever we want whenever we want it and without friction.
As mobile and digital commerce become the new norm, facilitating seamless and secure transactions has never been more important for travel brands. Better serving travel customers starts with 360 degree insights into their behavior.
This new reality is highlighted in this video:
Skift’s 2016 Digital Payments report expands on this further:
“You book your flight and hotel using Apple Pay, jump into your neighborhood Uber (or Lyft) and head straight to the airport but not before paying with your digital wallet; landing in London you use that same rideshare platform to get you to where you’re going. On the ride over you make dinner reservations via OpenTable or similar platform to let the restaurant know you’re on your way. Upon arriving to your apartment rental you notice that your host has already received payment. You get the keys and settle in. Before long you’re workmates are pinging you about dinner. A handful of business lunches, and coffee shop meetings later – all paid for and split among colleagues fair and square with a swipe of your phone – and the traveler head’s home without ever having pulling out a credit or debit card out of his wallet. This is the new reality that travel brands now need to work with.”
As the seamless nature of mobile-first, on-demand continue to take favor with travelers, the bar continues to raise for traditional travel brands. Learn how to compete in this evolving industry by watching the on-demand video of our recent webinar in partnership with Mastercard Optimizing Customer Engagement through Data: 3 Fundamentals for Travel Retailers.
Mastercard’s dedicated travel partnership teams bring a wealth of travel industry expertise coupled with a consultative methodology. Technology now touches nearly every consumer buying decision. And while this has transformed the sales experience from just a few years ago, a few merchant fundamentals remain the same: Drive Sales, Enhance Efficiency and Deliver a Top-Notch Customer Experience. Mastercard can help the travel sector deliver against these.