Future outlooks for the travel industry
Modern challenges require modern solutions. A great example of forward-thinking innovation is the usage of open APIs for the seamless integration of new payment methods. Open APIs play a crucial role when creating an ecosystem of travel-related partners, offering travelers a complete customer journey built around their trips. NextGen payment technologies, which are built on open APIs, allow such travel ecosystems to thrive by enabling an easy data exchange between partners. This creates a smooth checkout, letting customers purchase from different partners without having to leave the online shop. To make purchases in the ecosystem, the customer only needs to provide their information once to access a myriad of services from within the web of different merchants and providers.
As such, customer can enjoy an effortless way of paying, while partners get access to profitable cross- and up-selling opportunities. And with the help of tokenization technology, the partners of the ecosystem never have to handle the sensitive customer data directly.