Why an effective payments strategy is critical for airlines

UATP is a global travel payment network that helps airlines, travel agencies and rail companies accept virtually any form of payment, enabling them to drive growth and serve new markets.

The company also helps its partners understand how to create an effective payments strategy and how to use it to drive broader objectives, such as reducing costs.

“Traditionally the airline industry is a low-margin business,” said UATP president and CEO Ralph Kaiser. 

“So taking out 1 or 2% from your payment optimization processes is very important to the bottom line.”

In a discussion in the PhocusWire studio at The Phocuswright Conference, Kaiser explained how payments can also be used as a tool to drive incentives and loyalty and why a personalized, market-focused strategy is critical.

And as the company looks ahead to 2024, Kaiser shared his take on some of the ways he expects technology to continue to streamline payments processes and make the travel experience better for consumers.

Watch the full discussion with PhocusWire editor in chief Mitra Sorrells below.