FinTech firm CellPoint Digital has expanded its joint effort with Cebu Pacific Air to enable split payments and currency conversion for customers of the Philippines-based airline, according to a Wednesday (Nov. 10) press release.
Founded in 1988, Cebu Pacific has flown more than 22 million passengers to more than 60 destinations in 2019.
Following the implementation of CellPoint Digital’s Payment Orchestration Platform, Velocity, across the airlines’ digital channels in 2020, Cebu Pacific has added new alternative payment methods, including GCash, GrabPay and PayMaya, according to the release. The new alternative payment methods offer the ability to make split payments between travel fund vouchers and cash and converting local currencies.
“Airlines have, by necessity, some of the most complex payment ecosystems of modern merchants, and an equally diverse customer base to match,” said Kristian Gjerding, CellPoint Digital CEO. “By utilizing our comprehensive payment orchestration platform and having access to a large payments ecosystem, we have simplified the payment process for Cebu while bolstering its offering with popular alternative payment methods for its customers.”
Major airlines, for the first time since the pandemic began last year, are seeing their quarterly profits increase, according to PYMNTS. In a recent interview with PYMNTS’ Karen Webster, Flywire’s vice president and general manager of travel Colin Smyth said the key to airlines’ recovery is developing more efficient payment systems. PYMNTS research shows that travel companies spend more than 3% of topline revenue on payments processing.
Related: As Travelers Plan Ahead for Post-Pandemic Passage, Suppliers Want to Ground Payment Costs
In addition to Cebu Pacific, many airlines have embraced buy now, pay later (BNPL) options for travel, including the ability to make interest-free monthly installment payments.
Earlier this year, Uplift, a travel-focused BNPL company, signed new partnerships with various airlines, including Southwest Airlines, Aeromexico, Air Canada and Alaska Airlines, as well as cruise lines and tour operators to offer flexible payment options.
Read more: Uplift Advances BNPL Options For Travel Market Recovery
