"The digitalization of payments, together with our marketing assets, will revolutionize tourists' experiences and their loyalty in destinations"

BY UE STUDIO

Updated Tuesday, January 23, 2024-09:09

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We play a crucial role as a catalyst for evolution in the tourism sector by providing comprehensive financial solutions for tourism destinations and the businesses they operate.

Beyond the simple execution of transactions, our company facilitates global financial connectivity that benefits travelers and tourism companies, implementing contactless payment systems or introducing innovative technologies.

And on the other hand, through public-private collaboration we promote financial inclusion and facilitate the expansion of opportunities for the sector, from large hotel chains to small local SMEs.

Malaga is a clear example of how by joining forces we can create a more attractive destination for international and national tourists;

Specifically, through data spaces and using generative artificial intelligence we have specialized the destination.

In this way, small local businesses can better understand the tourists who visit them based on their purchasing behavior.

Tourism and spending are closely related.

At Mastercard we understand that just as we work to make the cultural or leisure offer attractive, payments are also a key element to retain travelers and create a fluid experience.

The digitalization of payments, together with our marketing assets, will revolutionize tourists' experiences and their loyalty in destinations.

The revolution caused by artificial intelligence has permeated every corner of the payments and tourism universe.

At Mastercard, we use generative AI to personalize travel experiences: from destination recommendations based on individual preferences to creating predictive solutions that improve planning.

Artificial intelligence is an essential partner to offer more special and personalized tourist experiences.

Alliances with institutions and destinations are crucial to implement changes to benefit the sector and the planet.

We work with strategic partners to create digital solutions that improve the efficiency and sustainability of the industry: together with the City Council of Seville we developed

, a project that includes actions to promote tourism in the Andalusian capital and which highlights the application of the

by Mabrian, a new set of indicators that allows measuring tourism sustainability.

Likewise, we have carried out an action with the Lanzarote Council to make the island a digital destination, more efficient, accessible and inclusive through the digitalization of payments.

And in collaboration with the Madrid City Council we have prepared a report, which we will present at Fitur, on the behavior of tourists in some of its most emblematic neighborhoods, knowing not only their type of spending, but also their preferences and the experiences they find more attractive.

Small and medium-sized companies encompass 99% of companies in Spain and all of them, to a greater or lesser extent, are linked to tourism.

Focusing on its digital transformation, its adaptation to a new economy and a new consumer profile is essential for its own business development and that of national tourism.

Our work focuses on four areas that we work to provide a comprehensive response: business education, digital tools, data analysis and creation of the digital ecosystem.

Mastercard's global Tourism Innovation Hub has exceeded our expectations.

In it we have led projects that range from the implementation of disruptive technologies to the creation of platforms that improve operational efficiency, such as the agreement signed with Segittur to promote the digital transformation of smart tourist destinations.

At the Hub we leverage our knowledge of aggregated anonymous data and technological expertise to innovate, research and co-create solutions with the entire tourism ecosystem.

This year we are collaborating, in addition to the aforementioned Spanish cities, with destinations such as Uzbekistan, Kenya or Costa Rica.

For Mastercard, Fitur is an essential event with the tourism sector.

A meeting point where we can celebrate our achievements and analyze the goals we still have to achieve.

This year, and again with our Tourism Innovation Hub

, we will have an agenda full of very enriching experiences and sessions highlighting the importance of collaboration with destinations and local communities.

The transformations in the tourism sector will be profound and exciting.

AI applied to tourism will be a driver of change, but we also anticipate an increase in demand for more authentic and sustainable experiences.

At Mastercard we are prepared to lead these transformations through continuous innovation, strategic collaboration and a strong focus on social and environmental responsibility.

Our goal is to contribute to the creation of a smarter, more inclusive and sustainable tourism sector for all.

Made by UE Studio

This text has been developed by UE Studio, a creative branded content and content marketing firm of Unidad Editorial, for MASTERCARD