Tuesday, June 4, 2024 A recent survey by payment platform FinMont reveals a goldmine of lost bookings for travel companies. The study, focused on European consumers, exposes how cumbersome payment processes, hidden fees, and limited options are driving travelers away mid-purchase. Nearly half (47%) of respondents reported abandoning online flight or holiday bookings due to overly complex or lengthy procedures.
This frustration translates to lost revenue, as travelers readily switch to competitors offering a smoother experience. Transparency is also key. A quarter (25%) of travelers indicated a higher chance of rebooking with companies that upfront all costs, avoiding upselling tactics during checkout.
With travel intentions surging (32% plan to travel more in 2024), companies risk losing millions by clinging to outdated payment systems. Frustrated customers easily migrate to competitors offering a more user-centric approach. This is where FinMont steps in.
Founded by the minds behind Hahn Air, this innovative platform simplifies not only customer (B2C) payments, but also business-to-business (B2B) transactions within the travel industry. This unified view empowers travel companies to pinpoint and eliminate inefficiencies in their current payment structure. FinMont’s mission is to empower travel merchants to leverage payments as a strategic advantage, setting them apart from the competition.
By streamlining the process and offering a transparent experience, travel companies .