The Amadeus Frictionless Travel Payments report (released 11 March) revealed that 70% of the 5,665 surveyed would be more likely to choose one holiday provider over another if they received a good payment experience.
Furthermore, 74% book travel less than two months before departure, with millennials more than twice as likely to do so than those over 55.
Paying by instalments was a popular choice for millennial clients too; 66% confirmed they would be more likely to purchase a holiday when presented with this option, while 56% would consider spending more if they could spread the cost.
The report also found that the average customer now relies on more than four different payment methods throughout their trip – 38% cited choice as a top requirement.
Regarding transparency, 47% said unexpected fees, charges or foreign exchange surprises would be a major point of friction.
Bart Tompkins, managing director – payments at Amadeus, said: “I’m confident that 2020 will be the year in which we see travel sellers aligning their payment strategies to meet not only customers’ demands but also their preferences. It’ll be the year when we see a significant step forward in delivering a frictionless payment experience in travel.
“However, with 75% of travel firms still finding it hard to offer a simple and consistent payment experience, there’s work required to deliver on travellers’ desire for greater choice, transparency and security.
“At Amadeus, we’re focused on building a wide range of partnerships that help our customers innovate more quickly to deliver on changing traveller demands.”