In this video from Skift Global Forum 2023, we hear from Edward Chandler, global head of B2B travel at Visa, about what defines the connected trip, what brands can do to create fast and seamless payment journeys, and what new technologies will enable the connected trip of the future.
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In this video:
- Harnessing the power of tokenization: Connecting a trip requires keeping bad actors away, and tokenization — the process of scrambling data to create unique, one-off transaction numbers — can deliver a superior level of security that reduces fraud by over 50 percent.
- Providing the payment options customers want: Pay now, pay later, pay in installments over the next six months, or split the payment with the friends who are joining for the journey — there is no longer one way to pay. Instead, paying should be personalized, and artificial intelligence can automatically help customers take advantage of the purchasing method they prefer.
- Giving brands the data they need: Hotels and airlines have always been able to see payment data, but what about all the other information that happens between the initial purchase and the points of travel? Visa’s massive anonymized data sets can help every travel sector — from airlines and hotels to destination marketing organizations — understand big-picture trends and better serve their customers with curated offers.
The travel journey has historically been separated into different pieces: researching where to go, booking the trip, changing the dates, booking a rental car, departing the airport, exploring a destination, and finally, returning home. The reality, though, is that all of these pieces represent one larger puzzle. They all need to fit together to create one connected experience and deliver the kind of hyper-personalization that today’s customers expect and that will distinguish the true leaders of the industry.
In this video from Skift Global Forum 2023, Edward Chandler, global head of B2B travel at Visa, speaks with Darren Frei, branded content editor at SkiftX, about how technology is enabling brands to meet evolving customer expectations for a frictionless payment experience throughout the travel journey.
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