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Digital Payment for Private Airlines and Aviation Industry

digital payment for airlines

COVID-19 has become one of the biggest threats to the global economy. Countries around the world are taking measures to mitigate risks such as restricting travel, closing down public transportation, instituting remote work arrangements, enforcing social distancing, and generally limiting people’s movement. As a result, there was a significant disruption in the economy that saw a decline in business activities for all small, medium, and large-scale industries.  However, digital payment volume has been rising in airlines, hospitality, e-commerce, entertainment, and other sectors.   

Innovative technology and processing have made digital payment simpler and more convenient to both merchants and customer, especially for a private Jet or commercial flight, it is highly likely to see a credit card reader lying around somewhere. When you are in the air and need to buy drinks or snacks, your flight attendants will ask you to tap in via card reader. Thus, from check-in to arrival, digital payment and card transactions have become so popular that these have phased out in-cabin cash transactions. 

Digital Payment in the Air

Credit card and card readers were not the lasting solutions for the private airlines to provide a hassle-free travel experience to their customers. Payment processing companies are providing various digital payment solutions that are preferable to the customers. Thus, Airline Companies need to consider alternative payment solutions as credit cards are slowly becoming out-of-date and digital payment is gaining popularity. Digital payment is considered more reliable as these are directly linked to the user’s bank account.  

Since digital payments goes directly from the customer’s account to the merchant’s account, they are viewed as more reliable than cash and are not considered debt. It started in China where airlines first accepted digital payments for air tickets and in-flight purchases. This trend started to go global in a very short period when other airline companies realized that consumers preferred digital payment rather than carrying cash or credit card with them. Finnair started digital payment for in-flight transactions and ticket booking and saw a 200% increase in in-cabin sales.  

digital payment in aviation industry

Benefits of Digital Payments for Airlines Industry 

IIn the new age of digital innovation, airline companies need to prioritize the payment process to maintain customers’ needs and boost their sales revenue. Here are some of the benefits of Digital Payment that can provide an advantage for the Airlines Industry. 

Increase Brand Value 

In this digitization era, the first interaction of a traveler would be the airlines’ website. First, customers are asked whether they would like to proceed or consider other airlines. Therefore, a user-friendly website with integrated payment options will make your customers’ journey seamless and ultimately increases your Brand Value. With CloudBanking virtual terminal, you can provide a hassle-free travel experience for your passengers and increase the volume of booking.   

Boost Sales Volume 

When a company can offer varied payment options, it can easily attract more customers from different parts of the world. The same is the case with Airlines and Private Aviation Companies. Digital payment systems enable customers from different parts of the world to pay via their preferred mode of payment. Partnering with a payment gateway provides your customers an option to pay via mobile pay, Mastercard, or credit card. It reconciles your financial statement at a given specific period and provides real-time data.  

Increase Conversion Rate 

With a digital payment option, a customer will not have any specific reason to not buy a plane ticket from you. Once a customer decides to travel, a convenient payment processing on the airlines’ website will convert that idea into sales. Therefore, integrating your airlines’ booking engine with a digital payment system will prevent potential customers from diverting off of your website to reserve a flight. CloudBanking digital payment uplifts your airlines’ website into one junction for all your customer’s traveling requirements and you won’t miss an opportunity for a potential sale.   

Minimizes Fraud 

To maintain your brand value and existing customers, it is important to set up a security measure to protect you against fraud. Airline fraud is not an easy thing to handle as the cost to resolve it is usually very high. The PIC-compliant feature of CloudBanking provides secure card transaction and thereby protects airlines from online fraud.   

Track Your Activity 

With the reporting feature of the Payment processing dashboard, you can get access to real-time information about your transaction within a given period. It will help your airline company keep track of your sales and prevent mismanagement of company funds.  

Conclusion 

An Airlines Company that embraces technology and innovation will retain its customers and increase Brand Value and Market share. Though Considered as High Risk, it is a challenging task to choose a payment processing partner. Thus, the CloudBanking payment solution helps you boost your revenue while managing risk. With our innovative anti-fraud tools and feature-rich plugins, you can identify potentially fraudulent transactions and thus receive ultimate protection.  

Boost your revenue while managing risk with our innovative anti-fraud tools. Our feature-rich and fully customizable plugin-in identifies potentially fraudulent transactions and provides the ultimate protection.  

As a payment partner, CloudBanking offers billing with an affordable processing rate and zero lock-in contract which helps you meet long-term goals and grow your business. 

Contact us today  to learn more about our payment processing and many other services we provide. 

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    ACCOUNTING SERVICES

    Run fast, accurate, and automated accounting processes through Cloud Banking’s white label portal for accountants. Simply ask your customers to log on to your dashboard so you can download all their statements and reports—making it easier for you to do their taxes. Likewise, you can make sure that our platform can help you streamline everything from financial consolidation to compliance reporting and audits.

    Our innovative payment solutions can easily be integrated into your existing accounting, invoicing, and billing software so you can get paid faster and more secure. Interested? Start by talking to one of our business specialists today.

    HIGH RISK

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    We understand that banks and low-risk providers may instantly turn down merchant accounts who they deem industries with a history of high chargebacks, irregular high ticket sales, or that are highly regulated. Thus, finding a high-risk payment processing solution that keeps high-risk businesses running efficiently might be a daunting, frustrating process. This is all the more true for the CBD oil industry. However, CloudBanking understands that your business model works for you. We believe in your business’ desire to help the community and we’re committed to providing top-rated services.

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    FIELD SERVICES

    Are you one of the small or mid-sized businesses in the field service industry having trouble collecting payments? And are you tired of all the waiting and hassles? Then, it’s time for you to adopt a phone- and cloud-based payment solution for field services that will improve your cash flow and accuracy. Allow your field services staff to accept payment on-site so they can focus on the next job.

    Level up in the game field by offering a cutting-edge payment solution for field services that will assist you in meeting your needs and improving your bottom line. Contact us to know how we can be your trusted partner in getting paid faster and secure.

    RETAIL

    The retail environment has evolved rapidly in the past years. To keep with the pace and increase your bottom line, you need to integrate a platform providing a full suite of card payment systems that fully satisfies the needs of you and your customers. CloudBanking’s payment solution for retail industry is here to help you stay in the game and be more competitive.

    Powered with the latest technology, our credit card processing solutions allow retailers to accept any form of card payments such as credit cards, debit cards, and EMV-compliant cards. Our payment solution for retail industry can help you effortlessly manage your point-of-sale transactions while you boost your retail sales.

    PROFESSIONAL

    CloudBanking offers a customized payment solution for professional services companies, such as law firms, insurance agencies, and accounting firms. Our platform is designed to provide you a safe, convenient, and secure way to accept your service fees and lessen the administrative cost related to payment processing.

    We understand that your business’ payment processing needs are unique. So you can’t just rely on any payment processing platform to manage your cash flow. You need a trusted partner to receive payments fast, secure, and easy. Enjoy this hassle-free process when you integrate our payment solution for the professional services industry.