DUBLIN--(BUSINESS WIRE)--The "Global Online Travel Payment 2020" report has been added to ResearchAndMarkets.com's offering.
Digital Travel Payments Shift to Alternative Means
Credit cards challenged by alternative means in online travel payments
Plastic has traditionally been the main mode of paying for travel bookings online. In the past several years, however, alternatives such as digital wallets and local payment schemes have gained popularity. A recent survey cited in the report revealed that close to one in three consumers expect travel providers to offer multiple payment options. If not offered their preferred payment mean at the checkout, a double-digit share of respondents would feel frustrated.
The number of payment methods on offer in digital travel is rising
With cart abandonment rates in travel & airlines sector being the highest across all E-Commerce sectors, businesses are taking their customers' concerns seriously and are adding a growing number of payment methods to their offerings. Furthermore, mobile checkout is being optimized by adding seamless payment methods such as mobile wallets.
Key Topics Covered:
1. Management Summary
2. Global
- Online Travel Payment Overview & Trends, January 2020
- Online Travel Sales, in USD billion, 2019e & 2023f
- Top 3 Payment Methods Preferred To Pay For Trips, in % of Travelers, 2018
- Share of Travelers Who Want a Range of Payment Options When Booking Holidays Online, in %, 2018
- Share of Travelers Who Feel Frustrated When They Are Not Able To Pay With Their Preferred Payment Method When Booking Holidays Online, in %, 2018
- Cart Abandonment Rate by Selected Industries, in %, 2018
- Top Reasons Cart Abandonment in Travel and Airline Booking, in % of Respondents, 2018
- Share of Airline Passengers Who Would Pay for Last-Minute Purchases With An Airline App, in %, 2019
- Top 6 Technology Investment Priorities of Hoteliers, July 2019
- Products and Services That Consumers Would Pay For Via Voice Recognition, incl. Travel-Related Categories, in % of Consumers, Q2 2019
3. North America
3.1. Regional
- Share of Travelers Who Find Ease of Payment To Be An Important Factor When Choosing An Online Travel Agency, in % of Travelers, September 2019
3.2. USA
- Online Travel Sales, in USD billion, and in % Year-on-Year Change, 2017 - 2022f
- Top Payment Methods Used On Online Travel Websites, in % of Consumers, 2017 & 2018
- Share of Travelers Who Prefer To Use Credit Card Over Other Payment Methods When Traveling, in %, March 2019
- Ways in Which Travelers Would Use Points or Miles From a Travel Rewards Credit Card, in % of Travelers, February 2019
- Share of Travelers Who Plan to Use a Credit Card to Fund Their Summer Travel, in %, February 2019
- Share of Internet Users Who Would Be More Likely To Take A Trip If They Could Pay For It Over Time With Something Other Than Credit Card, in %, May 2018
- Breakdown of Actual and Preferred Payment Methods To Pay For Purchases When Traveling, in % of Millennial & Gen Z Travelers, August 2019
- Share of Travelers Who Would Be Comfortable Booking a Trip by Voice, in %, 2018
- Breakdown of E-Commerce Transactions by Payment Method, in %, 2018e
- Payment Methods Accepted by Top 3 Travel Websites, January 2020
4. Asia-Pacific
4.1. Regional
- Online Travel Sales, in USD billion, 2018 & 2021f
4.2. China
- Online Travel Sales, in CNY billion, Year-on-Year Change, in %, 2015 - 2022f
- Share of Travelers Preferring to Pay for Trips via Alipay, in %, 2018
- Payment Methods Used by Chinese Tourists During Overseas Travel, in % of Chinese Tourists Travelling Overseas, 2017 & 2018
- Breakdown of Actual and Preferred Payment Methods To Pay For Purchases When Traveling, in % of Millennial & Gen Z Travelers, August 2019
- Usage of Mobile Payment by Chinese Tourists During Overseas Travel, by Destination Country, in % of Chinese Travelers to Each Destination, October 2018
- Types of Products and Services in Outbound Travel Paid for Via Mobile, in % of Users, 2018
- Mobile Payment Platforms Used In Outbound Travel, in % of Users, 2018
4.3. Japan
4.4. South Korea
4.5. India
4.6. Australia
4.7. Southeast Asia
5. Europe
5.1. Regional
5.2. UK
5.3. Germany
5.4. France
5.5. Italy
5.6. Russia
5.7. Turkey
6. Latin America
6.1. Regional
6.2. Brazil
6.3. Argentina
7. Middle East & Africa
7.1. Regional
7.2. Saudi Arabia
7.3. UAE
7.4. South Africa
Companies Mentioned
- Airbnb Inc.
- Alibaba Group Holdings
- Apple Inc
- Booking Holdings Inc
- Cleartrip Pvt Ltd
- easyJet Plc
- Mastercard Inc
- PayPal Inc
- Tencent Holdings
- Visa Inc
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