At the BayPay Forum, we continue to work hard to bring you more benefits associated with your membership. After the APSI event on Alternative Payments last week and the i7 Summit in France on Technology Innovations & Entrepreneurship, this time, thanks to the organizers, we have a 25% discount for the Airline & Travel Payments Summit 2010. This conference is highly regarded in the travel industry and we are fortunate we could obtain a 25% discount for the BayPay members.
Registration fees vary from $699 for Airline & Hotel professionals to $1,299 for Suppliers & Consultants without the discount so your fee as a BayPay member will be $525 or $975.
Here is more information about this event and if you are interested, you can register here to get your voucher for the conference. Looking forward to seeing you there. Here is the full agenda of the conference.
Airlines & Payments: forging a rationalized payments strategy
What happens when different parts of a business focus on different
priorities? This is often the case in the airline business where organizational
silos can be so focused on their own KPI's that they miss the bigger revenue
picture for the airline as a whole. One area where this proves true is payments.
Treasury, Finance, e-Commerce, Airports, Onboard, Procurement, Revenue Accounting, Financial Partnerships, Loyalty, Distribution, and Risk Management are just some of the departments within an airline dealing with payments. Many of these departments also have different or even directly opposing agendas when it comes to getting paid. For example, one part of the business may push to sell tickets via lower cost payment options (like PayPal, Envoy Services, UseMyServices, Moneta, among many others) whilst another part of the business pushes for payment of tickets via the airline's own co-branded credit card. The co-branded credit card may also have a higher cost of acceptance, as the issuing bank has to pay for the frequent flyer miles. (But, co-brands also generate huge revenues for airlines!)
For the last 24 months, credit card acceptance costs and credit card fraud have been at the top of airlines' list of cost-cutting items. The airlines have little room to reduce their "big 3" costs of Labor, Fuel, and Equipment. They also largely fixed their fourth biggest cost - Distribution - via full content deals with the Global Distribution Systems (GDS). This has left payment costs (i.e. credit card costs), which when fraud is included can be more than 5% of an airline's sales, as their largest area for cost-cutting. But, reducing airline payment costs is made more difficult due to entrenched silos within airlines and the complexity of airline sales.
One often over-looked payments-related issue that demonstrates the conflicts that exist between airline silos is the credit cards issued to the airlines' own employees for travel. Many (if not most) legacy airlines in North America and Western Europe issue American Express to their employees for company business. Yet American Express is often not these airlines' co-branded credit card partner. As a result, these airlines are sending a mixed branding message to their customers -
"Use our co-branded credit card, but we don't believe in the value of our own co-brand for our employees."
This is just one of many conflicts between airline departments - in this case between Procurement & Loyalty - when it comes payments. And, when you add-in items like accepting payments via travel agents, overseas distribution and foreign exchange risk, payments become a very potent mix for airlines! The opportunities not only to save money, but increase sales conversion (alternative forms of payments can help do this!) by having a clear payments strategy are easy to see, but only a handful of airlines have one.
Join us at the go-to event for all payments-related issues for airlines- The Airline & Travel Payment Summit (ATPS) on 30 November or 01 December 2010 in San Francisco. Reduced price registration is available for ATPS through Friday, 23 October 2010.
We hope to see you at ATPS in San Francisco!
When & Where
The BayPay Forum
About The BayPay Forum: BayPay is an organization focused on Innovation in Payments and Commerce. We organize events on topics we believe represent business opportunities for our 14,000+ entrepreneurs or senior executives at startups and established companies in the Bay Area, around the country and internationally. We have opened several chapters with the support of other passionate executives to bring to people the latest trends and the business opportunities to succeed in a thriving environment. Examples of these topics are mobile and social commerce, wallets, loyalty, authentication, compliance, cybercrime, digital-media, international remittance, future of banking, crypto-currencies, Blockchain, etc.
Attending or watching BayPay events will give you the competitive edge to anticipate disruption and connect with like-minded executives close to where you live, work or travel on a regular basis. We could look like many meetups here and there but our focus on changes in regulation, technology and investments to discover new business opportunites makes us a great tool for executives to boost their strategy, products, career or business and personal network.