CellPoint Digital has introduced a new suite of alternative payment methods specifically designed for the travel sector, responding to a growing trend among travelers who increasingly prefer options like digital wallets.
Tom Randklev, global head of product at CellPoint Digital, emphasized the significance of this launch: “The APM Hub underscores the growing importance of alternative payment methods (APMs) in what merchants need to offer. We’re committed to investing in these solutions today to help drive future business growth—for our partners and ourselves.”
Scheduled to launch in early Q4, the APM Hub will first be rolled out to customers in Latin America and the European Union. The platform aims to simplify and expedite access to APMs, providing merchants with a single-integration solution that includes built-in redundancy for enhanced payment reliability.
The hub features access to 168 essential APMs, reflecting a global surge in consumer demand for diverse payment options. According to the release, APMs—including digital wallets, cash vouchers, bank transfers, and Buy Now, Pay Later (BNPL) services—are rapidly becoming popular with consumers worldwide.
Research from PYMNTS Intelligence supports this trend, revealing that 74% of travelers consider digital wallets essential to their travel experience. This figure rises significantly among affluent travelers (83%) and millennials (82%). Additionally, customers using digital wallets tend to spend more, averaging $44 per visit at restaurants, compared to $33 for those using traditional payment methods. This trend indicates a broader consumer preference for seamless and efficient payment solutions that enhance the travel experience.
While some travel and hospitality companies remain cautious about adopting new payment technologies, many recognize the competitive advantages offered by real-time payment systems. A survey found that 71% of hoteliers believe guests view technology as empowering, with contactless payments topping the list of desired innovations.
Earlier this month, CellPoint announced a collaboration with Arajet, a Dominican Republic-based airline servicing 23 destinations across 16 countries in the Caribbean and Americas. This partnership will enable Arajet to centralize its payment processes and support a variety of APMs in South America and Mexico.
Related Topics:
10 Things to Do in Manhattan on a Rainy Day
