The Fintech and Payment Revolution in Travel
Renewed drive for increased efficiency and a simplified, secure user experience as demands for the travel industry warrants a focus on fintech. Broadly defined as software applications that involve financial services such as payments, loans, settlement and insurance, employment of big data fintech solutions can solve problems in ways previously impossible. Within the travel industry, fintech generally concerns reducing processing costs, provide traveler flexibility or minimizing friction in expense reimbursement for business travelers. Pandemic-driven demand has highlighted the need simplifying booking/rebooking and payment processes for both business and leisure travelers. The potential for growth within the industry is high, if tech solutions are properly understood and applied appropriately.
This article is part of a content series that explores some of the most significant technology-driven trends that will influence travel distribution in 2022 and beyond.
What is Open Access
An Open Access subscription provides company-wide access to the whole library of Phocuswright’s travel research and data visualization.Learn More
Curious? Contact our team to learn more:+1 860 350-4084 501 email@example.com
What is Open Access+
With Open Access+, your company gets access to Phocuswright's full travel research library and data visualization PLUS Special Project deliverables.Learn More