On October 18th, one of the leading events in China’s aviation industry – China Airline Distribution Conference (ADC) held in Shanghai. The conference has invited more than 200 airline leaders and more than 650 tourism industry elites. Oceanpayment as the only Chinese company that has the ability to provide cross-border payment solutions for aviation industry was invited to attend the conference. It would be a great opportunity to achieve a win-win breakthrough by helping China airlines break overseas payment barriers.
Since 2015, the inbound tourism market in China has continued to grow. In 2016, the number of Chinese inbound tourists reached 138 million, and the estimated number of inbound tourists will reach 143 million in 2017. According to industry analysts, optimization of national tourism policy and airline companies’ capacity, international exchange rate adjustment and the increase of tourism products will lead to Chinese inbound tourism into sustained growth stage. At the same time, driven by “The Belt and Road Initiative”, a number of cross-border tourist routes in the West were open this year. During 2016-2020, about 85 million tourists from the countries along the Silk Road are expected to come to China.
As an airline company, how to stand out from the global fierce competition? In addition to considering precision marketing and differentiated operations, the progress of booking tickets and the purchase of tourism products are important issues as well.
In this regard, many airlines have noticed that in addition to improving the traditional credit card payment experience, new mode of payments should continue to expand with to meet consumer demand. For example, in order to further develop the Chinese market, Finland airlines in February this year launched Alipay on the flight, which significantly help increase 200% of in-cabin sales. KLM airlines also allowed Chinese tourists to order tickets by using WeChat Payment and Alipay this year.
On the other hand, ticket fraud has caused a lot of trouble to the airlines. The International Air Transport Association (IATA) estimates that payment fraud cost the airlines industry about $858 million per year, of which $639 million is borne by airlines. From the ticket booking to boarding process, as long as there is a link negligence, fraudsters may cause huge economic losses, and even bring terrorist threat. In order to prevent ticketing fraud, the airlines need to take a lot of risk management measures. The most effective way is to stop the crime from ticket-booking, by distinguish fraudsters from real consumers based on data analysis. There is no doubt that a professional and responsible payment service providers would bring a multiplier effect to airlines.
Oceanpayment is able to provide more than 500 kinds of payment products which will help airlines to offer more payment options for consumers in overseas markets at lowest cost. Besides, Oceanpayment can not only support the PC side payment docking, but also provide mobile terminals, smart TV and other intelligent terminals docking, making it possible to enhance consumer experience at anytime and anywhere.
As a domestic PSP company, Oceanpayment has successfully served several China airlines, providing them comprehensive payments support, extraordinary operating service and efficient management of fraud. In the future, we believe that we will serve more foreign airline companies and become stronger and stronger!