Global Online Travel Payment 2020 code:1467

Global Online Travel Payment 2020
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Argentina, Australia, Brazil, China, France, Germany, India, Italy, Japan, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UAE, UK, USA
Pages: 90
Publication Date: 16/01/2020
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Questions Covered in the report:
  • What are the top payment trends in global digital travel?
  • Which payment methods do global travelers prefer to use?
  • How do online payment preferences vary by country?
  • What is the projected size of the worldwide digital travel market in 2023?

Key findings:

Travel Payments Shifting To Alternative and Mobile Means

Alternative payments rise in online travel

According to the findings of the yStats.com report, credit cards use in gradually being supplanted by alternative payment methods when it comes to paying for online travel bookings. Close to a third of travellers expected a wide choice of payment methods to be offered at online checkout and even a higher number would feel frustrated if they could not pay with their preferred payment mean. With over USD 1 trillion of digital travel sales to be at stake in a few years’ time, online travel agencies, airlines and accommodation booking websites are striving to add more alternative payment methods in addition to credit cards to meet their customers’ expectations.

Travel payments turning mobile

Another major trend in digital travel payments is the rise of mobile wallets. With a growing number of travel bookings taking place on mobile devices, seamless in-app payments play an important role in the customer experience. The need for fast and convenient mobile travel payments is confirmed in a 2019 international survey cited by yStats.com in the new report. The study reveals that a double-digit share of respondents would pay for their last-minute travel purchases via airline apps. One further emerging trend is voice-enabled payment. While voice payments are currently trending for low-value purchases, travel bookings and holiday purchases via smart speakers and digital voice assistants are also of interest to a growing number of consumers.

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1. Management Summary

2. Global

  • Online Travel Payment Overview & Trends, January 2020
  • Online Travel Sales, in USD billion, 2019e & 2023f
  • Top 3 Payment Methods Preferred To Pay For Trips, in % of Travelers, 2018
  • Share of Travelers Who Want a Range of Payment Options When Booking Holidays Online, in %, 2018
  • Share of Travelers Who Feel Frustrated When They Are Not Able To Pay With Their Preferred Payment Method When Booking Holidays Online, in %, 2018
  • Cart Abandonment Rate by Selected Industries, in %, 2018
  • Top Reasons Cart Abandonment in Travel and Airline Booking, in % of Respondents, 2018
  • Share of Airline Passengers Who Would Pay for Last-Minute Purchases With An Airline App, in %, 2019
  • Top 6 Technology Investment Priorities of Hoteliers, July 2019
  • Products and Services That Consumers Would Pay For Via Voice Recognition, incl. Travel-Related Categories, in % of Consumers, Q2 2019

3. North America

3.1. Regional

  • Share of Travelers Who Find “Ease of Payment” To Be An Important Factor When Choosing An Online Travel Agency, in % of Travelers, September 2019

3.2. USA

  • Online Travel Sales, in USD billion, and in % Year-on-Year Change, 2017 – 2022f
  • Top Payment Methods Used On Online Travel Websites, in % of Consumers, 2017 & 2018
  • Share of Travelers Who Prefer To Use Credit Card Over Other Payment Methods When Traveling, in %, March 2019
  • Ways in Which Travelers Would Use Points or Miles From a Travel Rewards Credit Card, in % of Travelers, February 2019
  • Share of Travelers Who Plan to Use a Credit Card to Fund Their Summer Travel, in %, February 2019
  • Share of Internet Users Who Would Be More Likely To Take A Trip If They Could Pay For It Over Time With Something Other Than Credit Card, in %, May 2018
  • Breakdown of Actual and Preferred Payment Methods To Pay For Purchases When Traveling, in % of Millennial & Gen Z Travelers, August 2019
  • Share of Travelers Who Would Be Comfortable Booking a Trip by Voice, in %, 2018
  • Breakdown of E-Commerce Transactions by Payment Method, in %, 2018e
  • Payment Methods Accepted by Top 3 Travel Websites, January 2020

4. Asia-Pacific

4.1. Regional

  • Online Travel Sales, in USD billion, 2018 & 2021f

4.2. China

  • Online Travel Sales, in CNY billion, Year-on-Year Change, in %, 2015 – 2022f
  • Share of Travelers Preferring to Pay for Trips via Alipay, in %, 2018
  • Payment Methods Used by Chinese Tourists During Overseas Travel, in % of Chinese Tourists Travelling Overseas, 2017 & 2018
  • Breakdown of Actual and Preferred Payment Methods To Pay For Purchases When Traveling, in % of Millennial & Gen Z Travelers, August 2019
  • Usage of Mobile Payment by Chinese Tourists During Overseas Travel, by Destination Country, in % of Chinese Travelers to Each Destination, October 2018
  • Types of Products and Services in Outbound Travel Paid for Via Mobile, in % of Users, 2018
  • Mobile Payment Platforms Used In Outbound Travel, in % of Users, 2018

4.3. Japan

  • Online Travel Sales, in USD billion, 2019e & 2023f
  • Payment Methods Used in E-Commerce, in % of Online Shoppers, 2018
  • Payment Methods Used While Travelling Abroad, in % of Travelers, 2018

4.4. South Korea

  • Online Travel Sales, in USD billion, 2019e & 2023f
  • Payment Methods Used in Online Shopping, in % of Online Shoppers, 2017 & 2018

4.5. India

  • Total Travel Spending, in USD billion, Online Share, in %, and Online Travel Spending, in USD billion, 2018 & 2021f
  • Top 3 Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2018e
  • Breakdown of Actual and Preferred Payment Methods To Pay For Purchases When Traveling, in % of Millennial & Gen Z Travelers, August 2019

4.6. Australia

  • Breakdown of Actual and Preferred Payment Methods To Pay For Purchases When Traveling, in % of Millennial & Gen Z Travelers, August 2019

4.7. Southeast Asia

  • Online Travel Sales in Southeast Asia, in USD billion, by Vacation Rentals, Hotels and Flights, in USD billion, 2015, 2019f & 2025f
  • Top 3 Payment Methods Preferred in E-Commerce, in % of Online Shoppers, by Selected Countries in Southeast Asia, 2018

5. Europe

5.1. Regional

  • Total Travel Sales, in EUR billion, Online Share of Travel Sales, in %, and Online Travel Sales, in EUR billion, 2018e, 2019f & 2022f

5.2. UK

  • Breakdown of Actual and Preferred Payment Methods To Pay For Purchases When Traveling, in % of Millennial & Gen Z Travelers, August 2019
  • Breakdown of E-Commerce Transactions by Payment Method, in %, 2018e

5.3. Germany

  • Breakdown of Payment Methods Preferred When Booking Holiday Trips Online, in % of Travelers, May 2019
  • Share of Travelers Who Would Book Online More Frequently If They Could Pay by Invoice or Direct Debit, in %, May 2019
  • Payment Methods Used and Preferred To Book Last-Minute Travel, in % of Last-Minute Travel Bookers, April 2018

5.4. France

  • Top 3 Most Important Factors When Choosing an Online Travel Agency, incl. Payment, in % of Travelers, September 2019
  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, July 2018

5.5. Italy

  • Online Travel Sales, in EUR billion, 2018 & 2019e
  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, July 2018

5.6. Russia

  • Online Travel Sales, in RUB billion, 2017 & 2018
  • Online Payment Methods Used To Book Hotels, in % of Online Payment Users, July 2019
  • Payment Methods Used in E-Commerce, in % of Online Shoppers, 2017 & 2018

5.7. Turkey

  • Online Travel Sales, in TRY billion, 2017 & 2018
  • Breakdown of E-Commerce Transactions by Payment Method, in %, 2018e

6. Latin America

6.1. Regional

  • Total Travel Sales, by Online Travel Sales, and Offline Travel Sales, in USD billion, 2018
  • Breakdown of Online Purchases in the Past Month by Payment Method Used, in % of Online Shoppers with a Bank Account, by Selected Countries, 2018

6.2. Brazil

  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, May 2018
  • Payment Methods Accepted by Top 3 Travel Websites, January 2020

6.3. Argentina

  • Online Travel Sales, in ARS billion, and Year-on-Year Change, in %, 2014 – 2018
  • Top 3 Most Important Factors When Choosing an Online Travel Agency, incl. Payment, in % of Travelers, September 2019
  • Payment Methods Used in E-Commerce, in % of Online Shoppers, 2017 & 2018

7. Middle East & Africa

7.1. Regional

  • Online Travel Sales, by OTAs, Supplier Website and Supplier App, in USD billion, 2021f
  • Breakdown of Payment Methods Used in E-Commerce in the Middle East, in % of Online Shoppers, 2018e

7.2. Saudi Arabia

  • Debit Card’s Share of Online Travel Bookings on Cleartrip and Flyin, in %, 2018

7.3. UAE

  • Breakdown of Online Travel Bookings on Cleartrip and Flyin by Credit Cards and Debit Cards, in %, 2018

7.4. South Africa

  • Breakdown of Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2018
  • Payment Methods Accepted by Top 3 Travel Websites, January 2020

 

Read More
  • Airbnb Inc.
  • Alibaba Group Holdings
  • Apple Inc
  • Booking Holdings Inc
  • Cleartrip Pvt Ltd
  • MasterCard Inc.
  • Paypal Inc
  • Tencent Holdings
  • Visa Inc.
  • easyJet PLC
Read More

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