The airline industry is arguably the best example of a global business. It serves millions of people every year and accepts transactions from everywhere in the world. But with great international reach come big payment issues.
We talked to dozens of players in the airline industry and they are all facing the same challenges when it comes to accepting digital payments:
- Airline companies rely heavily on legacy systems, and it’s very difficult and costly to connect new payment methods to legacy systems
- Often payment providers are not compatible with legacy systems and their tech requirements
- Increasing demand from customers to be able to use their preferred AMP (Alternative Payment Method). APMs are different from traditional credit cards and are often region-specific
- Declined transactions create millions of dollars in losses every year. The inability to integrate the right PSPs or to manage payment routes efficiently increases bounce rates, lost revenue, and leads to poor customer experience.
The truth is that, payments-wise, the airline industry is falling behind on the latest technology because it’s hard to find an easy and cost-effective solution to all the problems.
A modern payment infrastructure is important for several reasons. For example, a study commissioned by Amadeus IT showed that travelers would be willing to spend 36% more for their flight if a Buy-Now-Pay-Later (BNPL) solution was offered. Almost 50% of travelers interviewed said that they would purchase additional services with a BNPL option (seat selection, meals, larger luggage).
Customers are increasingly purchasing tickets and travel packages from third-party aggregators because they offer a smoother payment experience. This means that airlines have to pay a hefty percentage of their profit to the aggregators, reducing their margins.
BridgerPay’s all-in-one solution
BridgerPay is a payment orchestration software. We create a layer that integrates seamlessly with your existing system and speaks your language (works with any platform, website, and ticketing system). BridgerPay empowers you to personalize and control your payment flows according to your business logic without any code.
Most importantly, BridgerPay gives you the ability to increase revenue while cutting costs, offering an invaluable tool to improve your situation in the current economic climate.
- Connect to any payment provider you need through single API integration. Reach your customers anywhere in the world and offer them the payment methods they want. We have 350+ PSPs already available (BNPL, Credit Cards, Open Banking, eWallets, etc.) and can add more on-demand
- Rescue up to 30% of transactions declined for technical reasons with our Bridger Retry™ proprietary technology. Bridger Retry™ allows you to choose a series of fall-back PSPs to your main one, so if the transaction is declined it can be automatically rescued by using a different provider
- Use our drag-and-drop router to create the perfect payment experience for every customer. Customize the payment methods they see according to their location, currency, transaction amount, and dozens of other filters and combinations. Minimize declined transactions and increase conversions and retention rates by making your payment experience user-centric
- Tokenize transactions and allow one-click purchases for returning clients
- BridgerPay’s checkout is PCI DSS Level 1 compliant and can be customized to your brand’s look and feel to offer the smoothest payment experience on the planet
BridgerPay is a scalable solution that solves payments issues for businesses of every size. Etihad is one of the world’s leading airlines and chose BridgerPay to solve its payment pains. Read the case study here.
Get in touch today to start solving your digital payment pains.