The Kenya Travel Industry Payments Summit - KTRIPS

KENYA TRAVEL INDUSTRY PAYMENT SUMMIT -KTRIPS

Theme: "Exploring the Kenyan Travel Industry Payments Landscape."

The Kenya Association of Travel Agents (KATA) is organizing the inaugural Kenya Travel Industry Payment Summit (K-TRIPS). The summit will be held in Nairobi from 26th – 27th March 2024 under the theme "Exploring the Kenyan Travel Industry Payments Landscape."

About the Summit

The travel industry is rapidly evolving, and the payments landscape within this sector is no exception. The global travel industry is experiencing a paradigm shift, with advancements in technology, changing consumer behaviors, and evolving regulatory landscapes. Growth of e-commerce and increasing popularity of online shopping has forced many travel companies to adopt digital payment options in order to increase their competitiveness.

Kenya has not been left behind as it has witnessed significant growth in innovations around payment solutions targeting the travel industry whether B2B or B2C. It's no longer only about traditional credit cards and cash, payment products for individual consumers and corporates are now wide-ranging, varied, and encompass both physical and virtual forms of payment.

With hundreds of B2C payment methods on the market, shopping online has now become a norm. In fact, travelers now expect a certain payment experience while shopping for their travel online. Travel agents must be able to deliver a travel shopping experience on par with the broader online retail shopping experience. The payment experience must be easy and seamless. It must offer choice. And it must reassure travelers that their purchase is protected.

The inaugural Travel Industry Payments Summit aims to bring together key stakeholders, including travel industry leaders, financial institutions, technology providers, and regulatory experts, to explore, discuss and strategize around the latest trends, innovations, and best practices in travel payments, so we can collectively shape the future of travel payments in the travel industry in Kenya.

The KATA Travel Industry Payments Summit will cover all things payments, including fintech, payment technology, mobile payments, contactless and online payments, effective digital payment strategy and operations, cyber security and fraud issues and much more.

Key Objectives

Overall Objective: To provide a platform for stakeholders in the travel industry payment ecosystem to discuss, collaborate, and shape the future of payment systems in Kenya.

Other specific objectives:

 Provide insights into emerging payment technologies, trends, and regulations affecting the travel industry.

 Foster connections between travel agents, payment solution providers, and industry experts.

 Explore and showcase cutting-edge payment solutions for travel businesses.

 Facilitate discussions on industry challenges and collaborative problem-solving.

 Explore the impact of virtual payments, credit card transactions, and fintech innovations on the travel industry.

 Discuss risk management strategies, fraud prevention, and cybersecurity in travel payments.

 Analyze the regulatory environment affecting travel payments in Kenya and globally.

 Enhance knowledge on IATA Travel Agents Service Fee (TASF) and its implications.

 Facilitate networking opportunities between B2B and B2C stakeholders.

Expected Outcomes

 Enhanced industry collaboration and partnerships.

 Increased awareness of the latest payment technologies and solutions.

 Strengthened risk management practices within the travel industry.

 Informed policy recommendations for regulatory bodies.

 Networking opportunities leading to potential business partnerships.

Target Audience

 Travel Industry Leaders and Executives

 Financial Institutions and Payment Service Providers

 Technology Solution Providers  Government, Regulatory and Compliance Experts

 Travel Agencies and Tour Operators

 Startups and Innovators in FinTech and TravelTech

 Cyber Security Companies

 Airlines

 IATA