Connecting Airlines and Travel Merchants Through APM Hub
The APM Hub is designed to meet the needs of global travel companies and their customers. It provides streamlined access to important alternative payment solutions in various markets. CellPoint Digital is excited to introduce this innovative tool that aims to enhance payment processes in the travel industry.
Introduction of APM Hub
Set to launch in early Q4 2024, the APM Hub will give CellPoint Digital clients access to an extensive collection of 168 alternative payment methods (APMs) from around the globe. This centralized platform simplifies both contracting and onboarding, making it easier for clients to integrate new payment options.
Key Features of the APM Hub
Recognizing the vital role that APMs play for airlines and travel providers, the APM Hub from CellPoint Digital aims to significantly improve the payment experience. By working closely with merchants, the hub ensures a seamless single-integration solution, building reliability and resilience within the entire payment ecosystem.
Regions and Expansion Plans
The initial rollout will focus on regions in Latin America and the EU, with plans for expansion into the Middle East, Africa, and the Asia Pacific by late 2024 and into 2025. Airlines like Arajet stand to gain considerable advantages from the APM Hub, which will enhance their payment capabilities and improve overall customer experience.
Importance of APM Adoption
Tom Randklev, Global Head of Product at CellPoint Digital, highlighted the importance of adopting APMs. He noted, "The launch of the APM Hub emphasizes how essential 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), including digital wallets, cash vouchers, bank transfers, and Buy Now, Pay Later (BNPL) options, are rapidly gaining popularity among consumers worldwide. This growing demand pushes merchants to provide a wider variety of APMs, leading to consistent innovation in the payment sector.
Challenges in the Travel Industry
In the travel industry, there's an urgent need to adapt to diverse payment preferences. Recent studies show that about one-third of full-service carriers and nearly half of low-cost carriers have not yet adopted APMs. Additionally, approximately 30% of airlines recognize the lack of APMs and regional payment options as major obstacles in their payment strategies.
Closing Gaps with the APM Hub
The APM Hub from CellPoint Digital is crafted to help merchants in the aviation and travel sectors bridge these gaps by expanding payment options for travelers. By accommodating local payment preferences, airlines and travel merchants can increase conversion rates and improve payment acceptance, ultimately lowering cart abandonment rates.
Facilitating Market Entry with Ease
Available to all clients of CellPoint Digital through the Payment Orchestration Platform, the APM Hub makes it easier to enter new markets. It connects users to global APMs via a single processing platform, including straightforward contract adjustments and partner agreement terms. CellPoint Digital promises support at every stage—from pricing and integration to onboarding and customer service.
New Opportunities for APM Providers
The APM Hub doesn't just benefit merchants; it also opens up new opportunities for APM providers aiming to reach consumers through leading airlines and travel brands. Andy Sale, Head of Partnerships at CellPoint Digital, mentioned, "By consolidating APMs into a single hub, we can facilitate wider adoption among our merchants, reinforcing CellPoint Digital's position as the primary provider for APMs in the airline and travel sectors."
Pioneering the Future of Payments
CellPoint Digital is eager to form partnerships with key players in the APM landscape and believes the APM Hub is poised to become an essential component of 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 enables merchants to broaden their payment ecosystems worldwide while providing a consistent payment experience across various channels. To find out 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, which offers access to 168 global alternative payment methods specifically for travel merchants and airlines.
When will the APM Hub be launched?
The official launch of the APM Hub is scheduled for early Q4 2024.
Which regions will benefit first from the APM Hub?
The initial rollout will take place in Latin America and the EU, with plans to expand into the Middle East, Africa, and Asia Pacific later.
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 in the process.
What support does CellPoint Digital provide for the APM Hub?
CellPoint Digital offers comprehensive support at every stage, covering pricing, integration, onboarding, and first-level customer service.
