Scope of the Study
Online payment methods for travel include credit cards, debit cards and other digital payment options. However, the digital payment options such as wallets and local payment schemes are becoming popular among the people. Various travel service provider offers digital payment options along with credit and debit cards. These payment options are quick and hassle free which helps the individual to in bookings. These benefits are increasing the usage of online travel payments.
The market study is being classified and major geographies with country level break-up.
Airbnb Inc. (United States), Alibaba Group Holdings (China), Booking Holdings Inc. (United States), Cleartrip Pvt. Ltd. (India), easyJet PLC (United Kingdom), Mastercard Inc. (United States), PayPal Inc. (United States), Tencent Holdings (China), Visa Inc. (United States) and Airplus (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Amadeus (Spain), Wetravel (United States) and Enett (United Kingdom).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Online Travel Payment market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Online Travel Payment market by Type, Application and Region.
On the basis of geography, the market of Online Travel Payment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Benefits Such as Hassle Free and Quick Travel Bookings are Fueling the Market
- Increasing Number of Payment Methods in Digital Travel
- Introduction of New and Advanced Version of Mobile Apps which Offers Deals and Hassle Free Bookings
- Increasing Preference of Online Travel Booking Through Mobile
- Lockdown imposed in various countries due to COVID 19 pandemic has shut down the travel industry which is affecting the online travel payment industry
- Increasing Popularity of Digital Payment in Developing Economies
- Increasing Disposable Income is Boosting the Market
- Penetration of Internet Facilities
- Risk of Data Breach May Hamper the Market of Online Travel Payment
Market Leaders and their expansionary development strategies
On 3rd October 2019, Master Card has acquired Vyze which is a point of sale financing company. This offers retailers the access to network of creditors by which the customer can avail various financing options.
On 25th February 2020, TripActions has launched TripActions Liquid which provides virtual and physical payment cards. These are liked to trip action travel system for streamlining compliance, reconciliation and reporting.
Key Target AudienceOnline travel payment service provider, Travel service providers, Government associations, Research organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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