Online payments
Abacus International, a global distribution system used by travel agencies in Asia, is integrating PayPal into its online booking engines, Abacus WebStart and Abacus WebConnect. As result of the deal, around 20,000 travel agencies located across Asia Pacific will have an online presence and transaction capability.
The companies hope to tap into the growing online travel market in region, which is projected to see double-digit growth through 2012, remaining the fastest-growing travel region globally through 2013, when it is expected to reach USD357 billion.
Conversely, according to the recent PayPal Online and Mobile Shopping Insights study, travel was the number one category for online purchases making up USD263 million in Singapore.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
