Revolutionising travel payments: why top companies are switching to end-to-end systems

A 2024 Skift and Airwallex survey of 473 travel executives across seven markets found that the expected growth in cross-border travel is increasing pressure on travel companies’ payment and financial operations. Respondents identified outdated systems, regulatory compliance, foreign-exchange volatility, fraud, supplier payouts, shrinking margins, and multi-currency reconciliation as major obstacles; more than two-thirds said payment complexity affects efficiency or margins, 67% cited FX volatility as complicating cross-border payments, and 70% reported losing significant time reconciling finances across markets. The report notes that travel agencies commonly use four to six payment vendors, which can create delays and operational fragmentation, while 90% of executives said upgrading payments or financial-operations technology would be a priority within the next year. It presents Airwallex’s unified platform as a potential solution, citing its capabilities for accepting local payments, managing multi-currency accounts and supplier payments, automating reconciliation, handling FX exposure, and supporting international expansion.

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