When it comes to creating a successful corporate travel payments strategy, staying up to date on emerging trends and streamlining your payments processes are critical.
Pre-pandemic, merchants in Europe were falling over themselves to accept Chinese payment methods both in store and online. According to the World Tourism Organization (UNWTO), there were 141 million Chinese visits to Europe in 2019. Also, according to UNWTO, Chinese tourists spent an average of €1,919 per day in Europe in 2019, which is significantly higher than the average spending of other nationalities. The affluence of the Chinese middle class continues to grow rapidly, meaning the segment has more disposable income to spend on travel. In 2022 we only saw 25 million Chinese visits to Europe, representing a 44% compound decrease in visitor numbers between 2019 and 2022. As more global travel restrictions are relaxed, Mark Beresford (Director, London) has looked at the importance of accepting Chinese payment methods for merchants across Europe.
The perception of B2B payments is evolving steadily as many begin to see more than just cost-saving opportunities through embracing new fintech services, comment four experts during a Phocuswright Europe session
Gregoire Toussaint (Director, Paris) moderated two panel discussions related to B2B payments during the Commercial Payment International (CPI) Europe 2023 held in London in March.
Gregoire Toussaint (Director, Paris) moderated a panel discussion on payments for merchants in the One-to-One Monaco event on 14-16 March 2023 in Monaco. The panel discussion focused on how merchants can leverage payments to increase revenues and support merchants’ growth.