Kate Harden-England

📰 Outpayce, part of Amadeus, selected Mambu's cloud platform to launch its multi-currency digital wallet, enhancing travel payment experiences. Securing an EMI license in 2023 from the Bank of Spain, Outpayce chose Mambu for its financial institution support and presence in 65+ countries. Mambu's SaaS platform allows Outpayce to manage multi-currency accounts and support fund transfers across many payment schemes. With the EMI license, Outpayce plans to expand payment services throughout Spain and the EU, with Mambu's go-live expected soon.

🏖️ A new Opinium survey shows only 3% of baby boomers (60+) have used AI for holiday planning, with 2% planning to this year, whereas 42% of Gen Z have or plan to. 87% of over sixties won't use AI for such purposes. Around 20% of Gen Z and 18% of Millennials currently utilize AI for holidays, with 22% of Gen Z and 13% of Millennials considering it within the next year. Gen X shows minimal usage at 4%, with 7% considering it for ideas and 6% for itineraries. Despite this, 73% of Gen X are opposed to using AI for holiday planning. Christian Bennett of Multitrip.com highlights the growing trend among younger generations and the importance of travel insurance.

📌 66% of global travel executives report profit loss due to inefficient payment systems. 70% find cross-border payments challenging, affecting a quarter of their revenue. A survey conducted by Airwallex and Skift in April 2024 included 473 travel executives across 7 markets: Australia, China, Hong Kong SAR, Israel, Singapore, the UK, and the US. Modernization of payment technology is a planned priority for 90% of executives within the next 12 months, and 88% noted a shift in customer payment preferences since COVID-19. Nearly 40% of respondents reported half their revenue from international customer payments, and 75% earn more than 25% of their revenue from cross-border payments. 88% frequently deal with foreign currency payments, and 67% cite increased complexity due to FX rate volatility. Over one-third report losing 10% in profits, and 80% are interested in an all-in-one payment solution.

💰 Payment orchestrator Yuno has partnered with mobility company Meili to transform payment infrastructure in the airline industry. The partnership aims to provide airlines with a unified payment platform offering over 300 payment methods globally, one-click checkout, AI-enabled smart routing, and anti-fraud tools. Major airlines such as Avianca and Viva Aerobus have already adopted Yuno's solutions. The collaboration promises to enhance efficiency, security, and customer satisfaction in airline payment processes.