CellPoint Digital's APM Hub Revolutionizes Travel Payments
Connecting Airlines and Travel Merchants Through APM Hub
Built to meet the needs of global travel companies and their customers, the APM Hub offers streamlined access to essential alternative payment solutions across diverse markets. CellPoint Digital is proud to unveil this innovation, aimed at improving payment processes within the travel sector.
Introduction of APM Hub
The APM Hub, launching in early Q4 2024, is set to provide CellPoint Digital clients with access to an extensive suite of 168 global alternative payment methods (APMs). This centralized solution allows clients to enjoy simplified contracting and onboarding processes when integrating new payment options.
Key Features of the APM Hub
Recognizing the pivotal role APMs play for airlines and travel providers, CellPoint Digital's APM Hub promises to enhance the payment experience significantly. By collaborating closely with merchants, they ensure a seamless, single-integration solution that builds reliability and resilience across the entire payment ecosystem.
Regions and Expansion Plans
The initial launch will target regions in Latin America and the EU, with planned expansions into the Middle East, Africa, and the Asia Pacific by late 2024 and into 2025. Airlines, including Arajet, stand to gain substantial benefits from the APM Hub, strengthening their payment capabilities and enhancing the overall customer experience.
Importance of APM Adoption
Tom Randklev, Global Head of Product at CellPoint Digital, emphasized the significance of adopting APMs. He stated, "The launch of the APM Hub highlights how crucial these solutions are for merchants today, supporting our commitment to foster growth for both our partners and ourselves."
The Growing Demand for Alternative Payment Methods
Alternative payment methods (APMs), encompassing digital wallets, cash vouchers, bank transfers, and Buy Now, Pay Later (BNPL) options, are seeing a rapid increase in popularity among consumers globally. This surge compels merchants to offer a broader array of APMs, spurring constant innovation within the payment sector.
Challenges in the Travel Industry
Particularly in the travel industry, there is an urgent need to adapt to varied payment preferences. Recent findings reveal that about one-third of full-service carriers and nearly half of low-cost carriers currently do not embrace APMs. Additionally, roughly 30% of airlines have identified the unavailability of APMs and regional payment alternatives as significant hindrances in their payment strategies.
Closing Gaps with the APM Hub
CellPoint Digital's APM Hub is crafted to assist merchants across aviation and other travel sectors in bridging these gaps by expanding payment options for travelers. By accommodating local payment preferences, airlines and travel merchants can boost conversion rates and enhance payment acceptance, ultimately reducing cart abandonment.
Facilitating Market Entry with Ease
Accessible to all CellPoint Digital clients through the Payment Orchestration Platform, the APM Hub simplifies entry into new markets. It connects users to global APMs through a single processing platform, complete with easy contract modifications and partner agreement terms. CellPoint Digital also pledges support throughout every stage—from pricing and integration to onboarding and customer service.
New Opportunities for APM Providers
The APM Hub not only benefits merchants but also presents new opportunities for APM providers looking to reach consumers from leading airlines and travel brands. Andy Sale, Head of Partnerships at CellPoint Digital, remarked, "By consolidating APMs into a single hub, we can facilitate broader adoption among our merchants, cementing CellPoint Digital's reputation as the primary provider for APMs within the airline and travel sectors."
Pioneering the Future of Payments
CellPoint Digital is enthusiastic about forging partnerships with top players in the APM landscape and believes that the APM Hub is set to become a significant player in the alternative payments ecosystem.
About CellPoint Digital
CellPoint Digital is a fintech leader, specializing in a Payment Orchestration Platform that optimizes digital payment transactions. This platform allows merchants to expand their payment ecosystems globally while creating a unified payment experience across various channels. To learn more about CellPoint Digital, visit www.cellpointdigital.com.
Frequently Asked Questions
What is the APM Hub?
The APM Hub is a new solution from CellPoint Digital that provides access to 168 global alternative payment methods for travel merchants and airlines.
When will the APM Hub be launched?
The APM Hub is set to officially launch in early Q4 2024.
Which regions will benefit first from the APM Hub?
Initial benefits will be available in Latin America and the EU, with expansions planned for the Middle East, Africa, and Asia Pacific.
How does the APM Hub enhance payment processes for airlines?
It streamlines the integration of alternative payment methods, making transactions more efficient and improving customer experiences.
What support does CellPoint Digital provide for the APM Hub?
CellPoint Digital offers comprehensive support at all stages, including pricing, integration, onboarding, and first-level customer service.
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