Payments are now accepted as one of the areas adding friction to the traveler journey, from the booking process to being on a trip, according to new research.
The Frictionless Travel Payments: From Complexity To Competitive Advantage report from Amadeus shows that 70% of consumers say a good payment experience would drive them to select a travel provider over a competitor.
In addition, 74% say a poor payment experience affects the enjoyment of their holiday.
The study also reveals that 74% of travelers are booking less than two months before departure and millennials are twice as likely to book later than those aged over 55.
While 23% say saving money is the reason for leaving it late, fear of making a bad decision is also a factor - 15% claim they have concerns over bad weather or personal risk which prevents them from booking earlier.
On average, 23% of travelers abandon a booking, according to the report, but millennials are twice as likely than those aged over 50 to not complete their purchase.
A smooth payment process with importance attached by travelers to price transparency, a choice of ways to pay and improved security, according to the report.
For example, almost half (47%) say unexpected fees or charges are a major cause of friction and 54% cite hidden charges as their biggest concern when planning a trip. More than two out of five say they will abandon a purchase because of surprise costs.
The research says some 38% rank payment methods as their top priority, with a quarter abandoning a purchase because they can’t pay with their preferred payment method.
The report also offers some tips to travel suppliers, such as monitoring payment trends to improve the choice at checkout and ensuring transparency by offering multi-currency conversion tools.
The survey, which was carried out by Sapio on behalf of Amadeus, had more than 5,600 participants take part.