GenAI Is Cleared for Takeoff in Travel Payments

The future of payments isn’t just about what’s possible — it’s about how effectively those possibilities are realized. When it comes to advancements like generative artificial intelligence (AI), where the opportunities are vast, balancing innovation with stab…
Nadia Huels · 6 days ago · 2 minutes read


The Future of Payments: Balancing Innovation and Stability

Innovation with Responsibility

The future of payments lies not only in the possibilities but in how we harness them responsibly. For critical sectors like payments, balancing innovation with stability is paramount.

Tom Randklev, global head of product at CellPoint Digital, emphasizes the need for pragmatism in AI advancements: "We have to ensure we're doing cool new things without jeopardizing stability or reliability."

Collaboration and the "Frenemy" Approach

Innovation requires collaboration, where competitors can work together to enhance the broader ecosystem. This "frenemy" approach fosters a healthy exchange of ideas and advancements.

Fraud Detection: GenAI's Front Line

Fraud Detection: A Natural Starting Point

Fraud detection emerges as a promising application of Generative AI (GenAI), offering immediate value and minimizing risk.

Advanced Analytics and Predictive Modeling

GenAI enables real-time behavioral analytics, empowering fraud systems to stay ahead of emerging threats, including deepfake fraud.

Enhanced Security with Biometrics

Advanced authentication modules, such as biometrics, further enhance security while maintaining seamless user experiences.

Beyond Fraud: GenAI's Versatility

GenAI extends beyond fraud prevention into payments orchestration and compliance, especially within the highly regulated travel industry.

Automated and optimized workflows ensure compliance with evolving regulations while improving operational efficiency.

Future Horizons: AI in Travel Retailing

Offer Order Settle Deliver (OOSD) Model

The emergence of OOSD streamlines operations and enhances customer experiences in the travel industry.

AI's intersection with travel retailing promises to redefine how customers engage with airlines and other operators.

Personalized Payment Presentation

GenAI enables hyper-personalized payment presentation, meeting customers at their preferred touchpoints.

Enhanced Inclusivity and Conversion Rates

By supporting alternative payment methods and catering to unbanked populations, companies drive inclusivity and optimize customer experiences.