When asked specifically about the difficulty of managing cross border payments, respondents cited the challenge of managing multiple connections to the different payments providers for acquiring and fraud as a major hurdle (51%). This was followed by routing cross border payments to achieve payments objectives, e.g. acceptance rates or cost reduction (38%) and the difficulty of switching to new providers as needed (36%).

These results are interesting and suggest travel companies struggle to mitigate the complexities of cross-border payments flows in a global acceptance strategy. Payments orchestration platforms can relieve this burden by offering a single connection to multiple partners across the world, as well as intelligent routing and reporting capabilities.

When asked if they ‘orchestrate’ cross-border payments, just over a third of respondents say they already do this today (38%) with a further 30% planning to orchestrate their cross-border payments in the near future. Only 11% said they have no plans to apply payments orchestration.