London-based CellPoint Mobile, a global payment solutions company whose technology enables airlines to easily manage and control the complex and costly travel payments ecosystem, is unveiling its newest platform, the Converged Payment Gateway to the global airline industry.
The Converged Payment Gateway, available to airlines as an installed or SaaS solution, is being released at a time when the number of payment channels used by airline passengers and travelers has grown exponentially over the past 24 months. At the same time, the rise of alternative payments, mobile payments, and the availability of multiple Payment Service Providers (PSPs) has created opportunities for airlines to create new revenue streams. In 2014, mobile travel bookings totaled $96 billion and accounted for 12.5% of all digital bookings made globally.
With the ability to manage payment methods and PSPs in a matter of minutes, CellPoint Mobile’s Converged Payment Gateway solution enables airlines to turn the payment ecosystem into an asset that supports increased sales and greater margins.
Airlines’ payment ecosystems are under increasing pressure from a proliferation of new devices, growth of channels through which passengers are transacting, and ancillary revenue opportunities. This has resulted in lengthy IT integrations as airlines try to meet passengers’ demands for a variety of satisfying, convenient payment methods. Airlines, meanwhile, face potentially millions and billions in lost revenues as they wait for new payment solutions to be deployed.
The Converged Payment Gateway was developed in conjunction with CellPoint Mobile’s airline customers to combat these critical challenges and help them deploy new payment methods, currencies, and channels in minutes or days, not weeks or months, and to get more value from their relationships with Payment Service Providers (PSPs). From a single access point, airlines can manage, add, delete and update payment data easily and quickly, and process passenger payments and transactions seamlessly and securely for passengers. Airline revenues and margins improve when passengers have more paths to purchase from beginning to end of their journey.
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