It’s hard to believe it’s been over two decades since AFPs (Alternative Forms of Payment) came onto the global financial scene. It didn’t take airline payment leaders long to see the value of AFPs as a way to reach markets or customer segments that don’t fall under the majority umbrella of “international card users.” However, as a YOY trend, airline adoption of AFPs progressed relatively slowly due to perceived high implementation costs and lack of customer demand to justify the business case.
But that mindset has changed today. We’re finding out that two-thirds of consumers worldwide believe that COVID-19 has precipitated a fundamental shift in their payment preferences and encouraged greater use of contactless payments. And, in 2021, AFPs exceeded cards in terms of total transactions worldwide.
Now is the time to seize the AFP opportunity!
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