Arab world Online payment service PAYFORT, which powers online payment systems for airlines, travel agencies, ticketing, restaurants and leisure facilities with support of credit/debit card payments such as American Express, cashU, MasterCard, and Visa is set to launch a new online payment service to power the travel and hospitality industry in the MENA region.
The move is expected to see the firm further expand its clients’ business through reaching out to online market segments with internet payment facilities.
“PAYFORT understands the challenges involved in setting up online payment facilities so we’ve simplified the process of creating merchant accounts to allow e-commerce sites to quickly begin accepting payments online, regardless of their size or the nature of their business,” said Omar Soudodi, Managing Director of PAYFORT.
Set to be launched during the 5th May until 8th May 2014 Arabian Travel Market (ATM),the leading international travel and tourism event in the Middle East, PAYFORT will introduce its full suite of innovative payment solutions designed to enable the travel and hospitality businesses to harness the benefits of online payment.
The firm will also introduce its 4-Step process designed to help travel businesses create their own payment strategy to help businesses evaluate their payment options and adapt them to meet customer needs in order to enable them to grow.
According to market research, 71% of airlines say ticket sales on mobile phone platforms will revolutionize how people pay for travel. PAYFORT is perfectly-situated to help the travel sector take advantage of this trend as it grows.
The firm also says the number of services airlines plan to launch on mobile platforms is expected to grow significantly. Just under 20% of carriers say they hope to offer e-wallet payment for in-flight products and other extras by 2016. But that’s not all. Analysts predict that the number of airlines offering in-flight mobile payments will increase from 5% to 36% in the next two years alone.
Airlines are also moving away from investing in kiosks, which offer few competitive advantages, especially in terms of cost, compared to mobile apps and online reservation services. Travel companies are mulling sales via social media websites as well, with 30% readying potential launches on mobile platforms.
“The current online purchasing trends in the region suggest huge business opportunities for the travel and hospitality companies and we in PAYFORT are keen to help the industry capitalize on these opportunities to better serve their customers and increase its contribution to the local national economies in the region,” added Soudodi.