Payments orchestration firm CellPoint Digital partnered with payment services provider PayU GPO.
The collaboration is designed to provide more payment options to travel merchants that work with the two companies, according to a Wednesday (Oct. 2) press release.
“CellPoint Digital is a perfect partner for us to establish a strong foothold in the aviation sector,” Michiel Knoester, partner manager EMEA at PayU GPO, said in the release. “We anticipate significant interest from its merchants, who see alternative payment methods (APMs) as a key to breaking into emerging markets, where our expertise lies.”
Via the partnership, merchants can use CellPoint’s APM Hub as a central location for contracting and onboarding, while also gaining access to PayU’s services and payment processing, per the release.
“Crucially, CellPoint Digital’s merchants will, through a single integration, gain access to various market-specific options offered by PayU GPO, including alternative payment methods, which are popular in emerging markets where traditional methods are less prevalent,” the release said. “In Latin America, for example, APMs accounted for 39% of the region’s digital commerce volume in 2022.”
CellPoint introduced the APM Hub last week, capitalizing on a growing trend among travelers to use alternative payment methods such as digital wallets, bank transfers, and buy now, pay later (BNPL) services.
“This surge in demand is prompting merchants across industries to offer more APMs to their customers, spurring innovation in the payments sector with new options continuously emerging,” the company said Sept. 25.
The PYMNTS Intelligence report “From Trips to Tips: How Faster Payments Can Elevate Travel and Hospitality” found that nearly three-quarters of all travelers see digital wallets as essential to their experience. The rate climbed for affluent travelers and millennials at 83% and 82%, respectively.
“Customers using digital wallets spend an average of $44 per visit at restaurants, more than the $33 spent by those using traditional payment methods,” PYMNTS wrote Sept. 23. “This trend reflects a broader consumer preference for seamless, efficient payment solutions that enhance the overall travel experience.”
Although some companies in the travel and hospitality sectors remain hesitant about employing new payment technologies, many of them see the competitive advantages that come from using real-time payment systems.
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