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Planning and Paying for Future Travel: how the pandemic accelerated the use of plastic money on holidays

The acceleration of the vaccination program, the possible implementation of the green health passport and the individual government agreements for safe passage between States lead already travellers to think about how they will book and pay for future trips. In fact, we read, they miss travelling so much that they are willing to book a trip even if they are not sure it will occur.

The American Express ‘Global Travel Trends Report’ indicates that 61% of survey’s respondents plan to spend more than they normally would on a trip in 2021, since they could not travel in 2020. Additionally, 63% of respondents say they are saving their credit card points so they can go on a vacation once they feel comfortable travelling, and one in three respondents say they will likely use more travel credits or points to pay for all or part of a trip in 2021, than they did prior to the COVID-19 pandemic.

Additionally, according to FairFX research, more than three-quarters of Britons will not take cash with them on their next trip abroad, while one in five believe they can get coronavirus from banknotes and coins. Research has shown that one in 10 has no experience regarding different currencies around the world, when two-thirds of over the age of 45 would use cash on their next trip abroad, compared to just 10% of the ages of 18-34.

The pandemic has sped up the steady decline in consumer preference for cash in recent years and has affected the way people plan to pay during their travels. Whereas in the past the norm was to receive large amounts of cash abroad, people now prefer card payments on their daily lives, and this has also affected holidays abroad.

Once conditions allow – and this is foreseen soon – the need for travel will be immediate and rapid. The travellers already want to be able to manage their purchases safely and financial cards ensure that. Financial institutes which respond immediately by adopting instant issuance solutions will undoubtedly bring a superior customer service level that can be an incredible value-add to cardholders.

Which solutions?  Card issuance in-branch, kiosks, curbside pick-up are a few of them. Matica provides fully integrated financial instant issuance solutions, easy to implement and create customer satisfaction and loyalty.

Contact us today to schedule your demo and see how Matica can help you migrate to instant card issuance!

 

About Matica

Matica is a fast-growing and innovative global company, which develops, manufactures and markets a vast range of products in the secure ID, and payments industries. Matica has a strong international network, operating globally providing local sales and services through its offices in Switzerland (HQ), Italy, Spain, India, Malaysia, China, USA and the UAE. The company supports thousands of customers with its global network of certified resellers, value-added distributors, and system integration partners. For further information, please visit maticacorp.com