Less than a third of travel operators have implemented mobile-first innovations across booking & payment platforms; integration the biggest challenge

Latest survey from TravelTech Show spotlights priorities and concerns for travel operators and buyers around booking and payment solutions

Stats show that, globally, 98% of Millennials and Generation Z own a smart phone and, according to Hilton, more than 80% use them to book trips online with two thirds of Millennials using apps. Despite these stats, brand new research from TravelTech Show has revealed that fewer than one third of travel operators have integrated mobile booking apps and mobile-first-based tools into their booking and payment tech stacks.

The biggest barriers to mobile integration are:

• Complexity – 37%
• Security concerns – 15%
• High transaction fees – 13%

TravelTech Show, which takes place from 25-26 June at Excel London, polled travel company representatives to understand current attitudes and strategies for bookings and payment solutions. The most popular tools integrated into booking and payment platforms are:

• Mobile booking apps / mobile-first innovations – 31%
• Multiple payment gateway options – 24%
• Virtual credit cards – 17%

The survey also highlighted growing concerns around security and fraud. One in ten (10%) stated they are planning to invest in security and fraud technology over the next 12 months, up from just four per cent in 2024. Following recent cyberattacks across key retailers including Marks & Spencer, Co-op and Harrods, security is also expected to remain a core focus in the months ahead. Likewise, there is still a degree of caution around cryptocurrency adoption amongst travel operators. 83% have not introduced cryptocurrency payments, nor are they planning to in the next 12 months.

General search kicks off the customer journey

In terms of the start of the customer journey, a total of 94 respondents highlighted the following most popular online routes to sourcing customers via online browsing and booking:

• General search – 51%
• Social media platforms – 15%
• Metasearch – 8%

Commenting on the results, Stripe Global Industry Lead – Hospitality, Travel & Leisure James Lemon said, “Mobile app usage is experiencing phenomenal growth and is expected to be worth $212BN by 2035*. As payment ecosystems diversify further in the future there is a real opportunity for travel operators to integrate even better fit solutions for their booking, ecommerce and payment needs. The insights from this year’s survey highlight that there is still work to be done to support the adoption and integration of mobile booking and mobile-first innovations. As the digital-first next generations mature, mobile-first is increasingly becoming the norm for travel operators to drive bookings and revenue, and a focused onboarding process is fundamental to ensuring any solutions and partners integrate well.”

TravelTech Show event director Nimet Sayeed added, “The booking and payment technology landscape continues to evolve and expand at pace. Travel operators need to have a solid understanding of internal operational needs and a broad external understanding of customer preferences, the customer journey and the current tools available to best map that journey, if they are to offer the right and, critically, secure, browsing, booking and payment experience for their business and their customers.

“This year’s TravelTech Show offers a wide range of opportunities for buyers to see first-hand the latest strategies and innovations in reservation systems as well as financial management. This is alongside a host of exhibitors who will be attending to showcase the latest developments in e-commerce and payment systems, mobile and app solutions and online booking tools.”

TravelTech Show opens in just over a month’s time and takes place 25 – 26 June at Excel London Excel and is free to attend for qualified buyers.

To register please visit: traveltech-show.com