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A Study of Alternative and FinTech Payment Solutions for Airlines

Author

Listed:
  • Inna Romanova
  • Simon Grima
  • Jonathan Spiteri
  • Rebecca Dalli Gonzi

Abstract

Purpose: Revolutionary changes in the global economy, together with the development of FinTech and digital-oriented customer preferences, create new opportunities for airline companies in offering innovative solutions for customers, through online and mobile payment methods offered for flight bookings. Design/Methodology/Approach: The research is based on the analysis of structured survey data collected from a questionnaire based on customer satisfaction and perception of payment methods conducted with passengers. An empirical analysis of publicly available information was conducted on the payment options offered by the airlines to passengers. Findings: The analysis of the payment methods available shows different options provided by the leading CEE airlines from the most conservative to the most innovative offering the possibility to pay using FinTech payment solutions. Practical Implications: Development of FinTech and growing competition is an opportunity for airlines to increase their competitiveness through the improvement of customer satisfaction, adapting payment methods to the needs of passengers without substantial investments. Originality/Value: With this study, we aim to investigate the payment methods offered by the top ten Central and Eastern European (CEE) airlines and to discuss this in light of consumer choices and preferences.

Suggested Citation

  • Inna Romanova & Simon Grima & Jonathan Spiteri & Rebecca Dalli Gonzi, 2019. "A Study of Alternative and FinTech Payment Solutions for Airlines," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 9(3-4), pages 132-149.
    • Handle: RePEc:ers:ijfirm:v:9:y:2019:i:3-4:p:132-149
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    References listed on IDEAS

    as
    1. Claudio Scardovi, 2017. "Digital Transformation in Financial Services," Springer Books, Springer, number 978-3-319-66945-8, January.
    2. Samuelson, William & Zeckhauser, Richard, 1988. "Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
    3. Inna Romanova & Simon Grima & Jonathan Spiteri & Marina Kudinska, 2018. "The Payment Services Directive II and Competitiveness: The Perspective of European Fintech Companies," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 3-22.
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    More about this item

    Keywords

    Airlines; FinTech; financial services providers; payment methods.;
    All these keywords.

    JEL classification:

    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation

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