Mobile payments have increasingly influenced traveler research and bookings worldwide. Travel companies have been working towards making their websites mobile friendly along with developing dedicated apps. Currently, travel related booking through mobile have increased more than desktop booking across key global markets. Some of the key emerging trends include:
- There has been a significant increase in mobile related travel booking in last one and half years. Mobile booking has specifically registered growth over 50-60% year on year. According to PayNXT360, mobile payment in mobile shopping is expected to record a CAGR of 54.3% during 2016-2020 on an average globally. Mobile bookings are popular in case of last minute hotel reservations and car rentals.
- Convenient booking options along with simple mobile payment service are attracting consumers towards mobile bookings leading to greater revenue generation for industry players.
- Personalization has opened up prospects for selling additional services to consumers. By using GPS capabilities and browser history, companies are focusing on providing personalized offers and discounts catering to target consumers. Attaching hotel reservation offers when a customer books travel tickets helps in stable business expansion and advertising additional services.
Keeping up with these trends certain brands are working towards integrating mobile payments into their system.
- Mobile order and payment company QikServe has partnered with POS system provider POStech in hospitality segment of Ireland. This will enable POStech to provide 'Waiter in Your Pocket' technology of QikServe to its hospitality clients in the country. The application has auto consumer data capturing facility which is helpful towards targeted marketing. Mobile ordering and payment services are increasingly popular in Ireland and this partnership will draw in other players towards the application as it is cost effective and revenue generating.
- Swedish mobile payment solution provider iZettle recently acquired intelligentpos which is a cloud based software that manages inventory, loyalty programs and customer flow in hospitality sector. This is expected to increase the processing volume of iZettle by USD 560 million from its current processing volume of USD 3.36 billion. iZettle will benefit from additional revenue generation stream since Intelligentpos is a SaaS model. On other hand Intelligentpos is expected to expand to other markets from UK.
- Meyer's Union Square Hospitality Group announced partnership with Resy, a digital reservation startup in TechTable Summit at New York. Union Square Café will open in October 2016 wherein staff members will be provided an Apple watch with ResyOS app. This application will facilitate reservations, mobile payments, POS and on the floor services. It is also programmed to communicate with back-of-house system hosted by an iPad. Payments can be made through digital payment platform Resy Pay.
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