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FlightHub and JustFly on Electronic Payments, Convenience, Safety and Travel

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Women paying for bus ticket via mobile device (CNW Group/FlightHub)

 

The travel industry is currently experiencing a technological renaissance. Artificial intelligence (AI), the internet of things (IoT), virtual reality (VR), augmented reality (AR), facial recognition software and electronic payments are reshaping the way the world travels. It may be the most innovative time in the history of travel.

In decades past, cash, credit and debit cards have been the default means for people around the world to make purchases. However, in recent years, alternative payment methods have been gaining in popularity. To stay ahead of the technology curve and provide customers with safe, easy and fast payment options, companies have turned to a variety of online payment types.

FlightHub and JustFly elaborate on how electronic payments benefit travelers and business alike below.

Defining Electronic Payments:

Simply put, electronic payments are all payments that don’t involve physical currency. In technical terms, credit and debit cards are also considered electronic payments. Although both card types remain in use, there’s been a notable increase in payments that require no tangible card at all.

See a short list of other electronic payment types below:

  • Automated Clearing house (ACH)
  • Wire Transfers
  • Item Processing (IP)
  • Remote Deposit Capture (RDC)
  • FedLine Access Solutions
  • Automated Teller Machines
  • Card Services (ATM, credit, debit, prepaid)
  • Mobile Payments

Statistics on Electronic Payments:

Technology adoption is typically segmented into 5 categories: innovators, early adopters, early majority, late majority and laggards. Some businesses and countries are keen on innovating their own payment technology. Many others will be early adopters. Statistical analysis of electronic payment trends provides a clearer look at consumer behavior and the businesses leading the charge.

  • In 2016, 62% of online transactions in China were paid via e-wallet. (Worldpay)
  • With 60.18% of market share, PayPal is the leading online payment gateway. (Finances Online)
  • By 2022, 28% of US consumers will pay for goods by e-wallet. (Finances Online)
  • 78% of global consumers buy goods on Amazon. (Finances Online)
  • 69% of Generation Z use mobile banking apps daily or weekly. (Accenture)
  • 52.5% of American smartphone users will have made one or more P2P transactions (eMarketer)

In 2017, Worldpay, a leading payment technology report made a series of projections. The trends were evident. By 2021, credit card use would decline as e-payments increase. While bank transfer use would remain nearly the same, debit card usage would decrease. Reports from several other reputable sources indicate similar trends.

Safety:

Consumers and merchants have collectively voiced concerns about the safety of electronic payments, specifically privacy and the potential for identity theft. However, businesses have taken precautions to prevent their customers’ financial information from being compromised. New ways of keeping personal information secure are continuously being developed.

FlightHub and JustFly provide a list of technologies currently being used to protect payment details below:

  • Facial recognition software
  • Fingerprint technology
  • Two-factor authentication
  • Virus protection applications
  • Firewalls
  • Blockchain technology
  • Secured servers

In addition, companies do their part by using sophisticated data encryption tools to further secure sensitive data. With these measures in place, e-payments may actually be safer than their more traditional predecessors.

Electronic Payments and Travel:

The notion of “frictionless payments” has been discussed throughout the travel industry for some time. What exactly are frictionless payments? They’re online and offline checkout procedures where very little gets in the way of making a purchase.

Previously, travel businesses had not been able to deliver at a level that was satisfactory. Travelers now have a glossary of electronic payment options. See the most popular options below:

  • PayPal
  • MobilePay
  • Apple Pay
  • Samsung Pay
  • Google Wallet

There are currently more than 300 ways for travelers worldwide to make travel-related payments. The most commonly stated reasons for switching to e-payments are convenience and lower risk of having information stolen. Research firms have provided statistics to further confirm what experts in the payment technology industry have projected for years—electronic payments are not only the future of financial transactions, they’ll be a major factor in how we live, spend and travel as well.

 

SOURCE FlightHub

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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