Banks vs. OTAs: How Credits Cards Took Over Travel

Key Points

• Skift Research discussed the growing role of credit card companies in the travel industry.
• Post-pandemic, younger consumers are favoring credit card platforms over traditional OTAs.
• Banks benefit from acquiring valuable demographics and leveraging the halo effect of travel.

Summary

Skift Research’s Seth Borko and Pranavi Agarwal discussed the rising influence of credit card companies in the travel industry, particularly post-pandemic. They highlighted key factors such as competition for direct bookings, inflation, and financial benefits for travel companies and banks. Younger consumers are increasingly booking travel through credit card platforms, which may surpass traditional OTAs due to high consumer satisfaction. The conversation also explored the benefits for banks, including acquiring valuable demographics and leveraging the halo effect of travel.