Payment in travel and aviation is changing at an increasing pace; it could mean the end of plastic.
Developments in the world of travel payment are moving with increasing pace, with new methods such as Apple Pay and bitcoin following the mobile technology revolution that has already transformed this area of payment activity. In addition, further change will be sparked by new EU regulations in 2018 that will likely increase competition in payments, while also adding to the regulatory burden.
Cash is becoming increasingly rare as cashless payments dominate, while plastic (physical credit and debit cards) is starting to be replaced by virtual cards.
Kurt Knackstedt, CEO of Troovo and President of the Association of Corporate Travel Executives, told the ACTE-CAPA Global Summit in Oct-2017 that he had never seen such a pace of change in payments as in the previous 18 months.
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