Transforming Payment Processes in the Travel Industry
Built for the new generation of airline and travel retail, OSO turns payments into a commercial advantage
Airlines and travel merchants are undergoing substantial changes in their sales and distribution strategies. The shift toward modern "Offer-Order-Settle-Deliver" (OOSD) models aims to personalize retailing and maximize revenue potential. However, payments have often lagged behind, remaining fragmented and costly, which is unsuitable for contemporary retail environments.
In response to these challenges, CellPoint Digital, a leader in travel payments, has launched One Source Orchestration (OSO), a platform specifically designed to facilitate the airline and travel industry's shift to OOSD retailing. This innovative tool streamlines the complex payment processes that travel merchants encounter.
OSO is a game changer for airlines and travel merchants, as it enhances the capability to manage dynamic offers, inventory fulfillment, ancillary sales, and multi-payer transactions. With OSO, travel merchants can anticipate improvements in payment flow-through rates, with estimates ranging between 2% to 13%, significantly impacting operational efficiency and market reach.
Navigating the Complex Payment Landscape
One Source Orchestration is designed to address the unique complexities associated with travel payments. It efficiently manages the intricacies of splitting transactions among multiple merchants, processing points-plus-cash bookings, and handling ancillary sales across various currencies. Its modular architecture effectively navigates these challenges without increasing overhead, granting travel merchants the agility needed to adapt to evolving retail models.
OSO is built on CellPoint Digital's proven track record in processing travel payments, capable of handling up to 10,000 transactions per second. The platform’s robust structure supports diverse payment methods, acquirers, and fraud solutions, paired with an impressive 99.999% uptime, ensuring reliability from booking to post-purchase phases.
Enhancing Profitability Through Payment Optimization
As the travel industry undergoes transformative changes, there is an urgent need for payment solutions that effectively cater to modern retailing challenges. The OSO platform was developed to empower airlines and travel merchants, allowing them to maximize profitability, efficiency, and revenue. Its advanced features enable merchants to capture new opportunities stemming from more dynamic packaging and bundling approaches.
One of the greatest threats to revenue in payment processing is the occurrence of failed or declined transactions, often resulting in abandoned bookings. OSO tackles this issue head-on, utilizing AI and machine learning to enhance transaction routing. This sophisticated approach can boost approval rates by up to 25%, and additional automated retries further minimize declines, ultimately enhancing customer experience and safeguarding revenues.
Supporting Global Expansion Efforts
In addition to optimizing payment processes, OSO facilitates the entry of travel merchants into new markets by addressing ever-present barriers. These barriers include the need for local payment method integration, multi-currency transaction capabilities, and managing regional fraud risks. The platform's comprehensive features create consistent and reliable payment experiences that enhance customer satisfaction across various geographies and sales channels.
OSO elevates payment orchestration in travel retail to a new standard, showcasing a unified control layer adept at managing various payment providers and methods. It offers tools for efficiently handling ticket changes, refunds, and itinerary modifications, along with real-time order processing that supports OOSD retail strategies.
Setting a New Benchmark for Travel Retail Solutions
With OSO, travel merchants are equipped to scale effectively, enhancing their operational capabilities while meeting customer expectations. By simplifying cross-border transactions and integrating advanced fraud monitoring mechanisms, OSO reduces friction at every customer touchpoint. This system not only boosts acceptance rates but also minimizes transaction fees, making payments smoother for travelers and beneficial for businesses.
Furthermore, OSO seamlessly connects with critical systems pivotal to the travel industry, including Global Distribution Systems (GDS) and Central Reservation Systems (CRS). This integration supports the evolving needs of airline and travel operators, ensuring data privacy compliance through single-tenancy environments with localized data storage.
As Kristian Gjerding, CEO of CellPoint Digital, noted, "OSO places customer experience at its core while delivering tangible business advantages. This is the future of travel retail, and OSO is the platform that paves the way for it."
Frequently Asked Questions
What is One Source Orchestration (OSO)?
OSO is a payment optimization platform created specifically for the airline and travel industry, designed to support modern retailing and enhance revenue.
How does OSO improve payment processes?
OSO optimizes transaction flows and reduces operational bottlenecks, leveraging advanced technology to increase approval rates and streamline payment experiences.
What advantages does OSO offer travel merchants?
The platform improves revenue capture, enhances customer satisfaction, and allows seamless expansion into new markets with fewer barriers.
How can OSO contribute to profitability for airlines?
By optimizing payment routing and decreasing transaction declines, OSO helps airlines retain bookings that might have been lost, contributing to overall profitability.
What future does OSO envision for travel retailing?
OSO aims to create a payment ecosystem that supports dynamic pricing and personalized bundles, ultimately revolutionizing the way travel services are sold.
