Making travel easier with a digital wallet
Travel’s No Brainer. Meet the Digital Wallet
An all-round, hassle-free experience makes for good business. Or so we at Journey Mentor think.
One critical element of a journey comes before leaving the runway: how easy is it to book and pay?
One great innovation that’s catching on is the digital wallet. These are increasingly used worldwide to pay for goods and services without carrying cash or cards.
You may have noticed people tapping phones to card readers in supermarkets and stores. You may be that person.
It’s also part of a travel trend evolving as the industry aims to better meet consumer requirements.
A whopping 90 per cent of worldwide consumers used some form of digital payments last year? That’s according to global analysts McKinsey & Company.
Significantly, those who expected to rely on a single digital wallet rose ten per cent in the last two years.
What is a digital wallet? Digital wallets enable travellers to pay without putting their hands in their pockets (except maybe for their smartphone).
Customers can purchase goods, services (and travel) via smart devices like phones.
Cashless and mobile wallets are more secure too. Money and cards can be stolen (a particular worry when travelling) but encryption and tokenisation in digital wallets reduces these risks.
Some countries who didn’t adopt debit cards in the 1990s have even ‘leapfrogged’ cards altogether and gone from cash to mobile payments, according to Tappit.
Accepting digital wallet payments can offer other benefits for travel companies too such as the ability to consolidate loyalty points in a single place to truly reward customers.
Rewards points can be stored in a digital wallet. Customers can earn loyalty cashback, or rebates on purchases. Points may be used in place of cash, or points and cash together. For travel providers, it offers ability to analyse customer behaviour accurately.
Journey Mentor believes in smart thinking and technology.
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