In today's world, where innovation is the key to success, PayFor.Travel is setting new standards in the travel industry by redefining the way tourists and businesses make payments. The project is the quintessential product innovation, as defined by the Oslo Manual, which emphasizes the introduction of services that are new or significantly improved in terms of features or applications. By combining existing knowledge and technology, PayFor.Travel is making significant improvements in functionality and usage, becoming a pioneer in the global travel payments market.
Traditional payment methods in tourism are outdated and insufficient. Long checkout queues, problems with different currencies and delays in payment processing are just some of the challenges faced by businesses and customers. PayFor.Travel, using modern QR code payment technology and integration with more than 100 international payment methods, offers a comprehensive solution that dramatically improves these processes.
The main features the platform offers include:
- QR code payments: allow fast and convenient transactions without physical contact,
- Travel Split Payment: automates international payment and settlement processes,
- Chat: allows direct communication between seller and buyer,
- Deferred payments: offer flexibility in paying for services,
- Global payment method integrator: ensures seamless payments, regardless of the user's preferred method,
- Cross and up selling function: supports cross referral of services, increasing profitability.
PayFor.Travel's innovation is not limited to the introduction of new features. The project is also transforming the travel industry by enabling affiliate networks, easy commission collection and efficient settlement of B2B cooperation. This allows companies to better manage their finances and offer safer, more transparent payment services to customers.
PayFor.Travel was developed as a result of in-depth market analysis and collaboration with fintech and traveltech experts. The MVP of the project includes a feasibility study that confirms its technological, economic, time and market feasibility. Key technology partners are AWS and Stripe, which ensures the stability and security of the solutions offered.
The PayFor.Travel solution not only fills a gap in current payment tools for the travel industry, but also responds to existing market needs. With the potential for global deployment, PayFor.Travel aspires to change the way businesses and travelers engage in payment processes, making them more intuitive, efficient and user-friendly.
PayFor.Travel's innovation, usability and implementation potential make it a leader among financial tools for the travel industry. Its introduction will not only revolutionize online payments in tourism, but also prove that high-tech solutions can significantly improve the experience of both businesses and tourists around the world.