YTD payments processed up by 89% vs 2019 - TravelMole


YTD payments processed up by 89% vs 2019

Wednesday, May 18, 2022 0

 

Following the recently completed acquisition of B2B travel payments specialist Ixaris into Nium – the global platform for money movement –  the travel payments team at Nium is pleased to confirm that an unprecedented travel resurgence is truly under way: year-to-date, like-for-like travel bookings payments processed by Nium are up by 89% Vs the same period in 2019.

 

But this welcome resurgence brings risks as well as rewards, warns Spencer Hanlon in his role as Global Head of Travel Payments at Nium:

 

“As the recovery really takes hold we’re all still kind of on a level playing field, there really has never been a more exciting time to work in travel. But not everyone has taken advantage of the recent downtime to do away with many of the legacy systems that have held travel back for too long and prepare for the recovery – sadly B2B payments systems really are still stuck in the 1970s in many travel businesses the world over.

 

“As travel recovers rapidly this could mean many permanently miss their chance to get back to where they were, simply because their financial systems can’t take the strain.”

 

If you are looking for industry comment and views then together Spencer and his colleagues John Taylor and Tiago Coimbra  –  in their roles as Head of Airlines Payments and Head of Hotel Payments respectively at Nium – can speak about a wide range of payments related topics affecting the travel agent and tour operator space, hospitality, and aviation.

 

Topics they can comment on include (but are not limited to):

 

  • How to automate and reduce costs on cancelations volatility once and for all.
  • The financial strain many travel businesses will have as the recovery means they need to expand their credit lines very quickly (whilst their creditors won’t want to).
  • The impact of a high inflation environment on travel businesses.

 

Feel free to quote from the above and if you wish to interview any of them or gain a briefing please contact [email protected] to arrange.

 



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