Avinode Group

Category Archive: News: Paynode

  1. A payment process that charter companies rely on

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    In what way is trust an issue for our members?

    Trusting new partners can be tricky in this industry since doing business with a new broker or operator means you have no prior relationship or built-up trust to lean on. Operators and brokers all care about building long-lasting relationships but there’s not always time for that. Charter trips are both high-value and time-sensitive. We know that 32% of charter trips in 2022 were booked within 72 hours of departure. That’s why we need to make sure that everyone involved in booking a trip can rely on the process.

    How do you help our customers reduce friction in their payment processes?

    I work closely with finance teams and business owners to help manage their payment workflows. We all know that even between legitimate and trustworthy companies there can be hickups in the process of booking and paying for a trip. There can be an issue with the aircraft or an issue when processing a payment. It feels really great when I can be there for them and help them through such issues, and make the process smoother.

    How does our workflow increase trust between members?

    To be honest, you don’t need to worry about trusting a partner anymore. That’s what we are here for! One of the big benefits is that our members all go through the same vetting process, making sure that they only deal with legitimate companies with a good track record.

    With our solution, they get processes and the technology that protects them from issues with fraud, chargebacks, and slow payments. We’re also a dedicated team that guides our members through some of those tricky moments, like processing a refund, which makes a difference also for the end customer.

    Helping to make some of those key interactions with the end customers easier and with less friction, is where I think we build trust in the business aviation industry.

    What are some of the results our customers can see?

    Although the number of members and transactions in Paynode has grown rapidly recently, we can see that the number of refunds and disputes we process is at a consistently low level. It feels great to know that our solution works and helps our members avoid issues.

    How we’re building a serious network

    Since we have a payment solution integrated in our Avinode Group offer, successfully completing the vetting process is a prerequisite for all new members of our payment solution.

    This process is a regulatory and legal requirement any time a new bank account, money transfer process or card processing account is set up. It is one of many steps we take, together with our payment solution providers, to ensure against money laundering, the funding of terrorism, fraud, and the illegal transfer of funds.

    Related articles:

    Bring your Global Air Charter Payments together

    Submit KYB to Get Started on Paynode

  2. Why payments matter in air charter: the must-read white paper for operators and brokers.

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    This white paper covers the most common business challenges, trends, and advice to protect you and your customers from fraud and potential financial loss.

    We talked to Brenton Melville about the work behind the paper and how it can make a difference in our industry.


    Brenton – why should operators and brokers care about digital payments?

    The digital payment sector is advancing quickly, and new solutions for niche industries are constantly coming out on the market. These solutions can offer a really interesting alternative to traditional banks, allowing for faster and more secure transferring of funds. Especially in our industry, where high-value payments need to be made with short notice, it is important to be aware of the risks and how to protect yourself and your customer.


    What is the most important takeaway from your work on creating this white paper?

    I’m really impressed with the speed that the payment sector is evolving and I can understand that it is difficult for our members to keep up and follow the developments. That’s why we made this white paper a guide that our members can use to educate themselves on digital payments and what to keep in mind when they choose a finance partner.

    My team and I have heard many stories of attempted fraud, and I can understand that this is causing a lot of stress for operators and brokers. We want to guide our members to a solution that lets them feel more secure and know they are working with partners that follow the latest security standards.

    Get all the insights from Brenton’s team and download our free white paper here!

    ABOUT BRENTON
    Brenton Melville joined Avinode Group in 2014, and has been an important part of the team developing our payment solution that launched in 2016. Brenton is now our Commerical Lead for our payment solutions and is based in Sydney, Australia.

  3. Is the future of payments instant and alternative?

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    We are living in unprecedented times and Oliver King, CEO of Avinode Group, talked about several factors affecting our industry in this yearly review at the end of 2022. Even though the business aviation industry has been somewhat immune to economic downturn, the last years’ covid pandemic and the following energy crisis have had a massive impact on people globally and left no industry unaffected.

    We sat down with Patrick Lucy, Account Manager Team Lead – EMEAA, to discuss his view on the current state of our industry and how alternative payment methods can be part of the solution.


    Patrick, how can new payment solutions provide security in an uncertain business climate?

    Stepping away from the comfort of your traditional bank might feel daunting in uncertain times. But many other B2B sectors have already taken the step into a new comfort zone where payments are made faster, easier, and more securely.

    In recent years, the developments in open banking solutions and alternative payment methods have exploded. In this McKinsey report from 2022, it’s also clear just how quickly the payments industry has rebounded after the pandemic. Electronic payment transactions are predicted to grow even faster in the coming years. This is driven by businesses always looking for solutions to lengthy cross-border payment cycles when using traditional payment methods.


    Is the business aviation industry back to pre-pandemic levels yet?

    In Avinode we’re still seeing higher demand for air charter globally than pre-pandemic levels in 2019. We’re also seeing an increased number of smaller brokers and operators joining Avinode. The business aviation industry is traditionally slow in adopting new digital technology, but in challenging times we see that more business leaders are looking for efficiencies and ways to speed up their supply chain with the use of technology.

    A potential global economic downturn means we all need to focus on cutting costs as well as finding ways to increase data security. At times of economic uncertainty, there is usually an uptick in attempted fraud and identity theft when bad actors take advantage of the turmoil. That’s why we take security and compliance so seriously in Avinode Group, and are building a trusted network where payments can flow freely.


    What does this mean for the air charter space?

    The payment flow from end client to charter operator is certainly at the core of the air charter business. That’s why we believe this is so important. During the global pandemic, a new set of end clients started flying private instead of commercial and it looks like many of them are staying. Something to consider in our industry is that they will be expecting the same friction-free booking and payment experience as when booking a commercial flight.


    What’s on the roadmap in 2023 to meet the demands of customers?

    We’re currently working on a solution to reduce the workflow steps when securing payment from the end customer, to the broker and finally to the charter operator. Our Paynode users will definitely hear more about this in 2023, as we put more focus and resources in this area.

    It’s all about providing even easier and more secure payments. In our data we can see that one third of charter requests are made within 72 hours from departure. Speeding up the payment process using instant payments, or via credit card holds, in a smart and user-friendly workflow is a game-changer when funds need to be secured quickly.

    Join Patrick Lucy and the Avinode Group team to talk payment solutions at CJI London, February 6-8th. The panel discussion “Is the covid bounce back slowing?” is on the agenda on February 8th.

  4. Transforming the efficiency of business aviation payments

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    Magnus Henriksson, global business director at PayNode, the world’s first payment platform for business aviation and the latest innovation from the Avinode Group, considers how new technologies will improve the pain points in the industry’s payment flow

    As with every other area of life, business aviation is changing rapidly through the advent of new technologies. Rapid advances in e-commerce and online customer experience in other sectors have raised customers’ expectations of the air charter industry; they want services to be delivered quickly and securely in a real-time, digital environment.

    Full article in Raconteur: https://www.raconteur.net/sponsored/transforming-t…

  5. PayNode celebrates 1st month since launch

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    We’ve had a busy month at Avinode HQ since launching PayNode, the world’s first payment solution specially created for air charter. We’re delighted so many merchants have signed up and are starting to make their payments fly through our system. PayNode is truly proving itself to be the industry’s new way to pay.

    Here’s what one of our very first users has to say:

    “We were thrilled to be among the 1st companies to use PayNode as the industry has been crying out for a system like this. It was no surprise that it comes from the Avinode Group as we know the company is always offering solutions that solve the challenges the whole industry faces. We can already see how PayNode is improving our workflow and how we handle payments across our company. This couldn’t have come sooner.”

    Giles Vickers Jones, Chairman, Shy Aviation

    And finally… a competition of unrivaled skill and popularity

    To celebrate our launch in Orlando we held a #Makingpaymentsfly paper plane competition with two winners. The 1st winner, Brazil’s Cassio Polli, Aerie, flew his plane 91 feet and was announced during NBAA. The next winner was challenged to get the most ‘likes’ on Instagram by December 1st, 2016. We had a fiercely competitive race to the final few hours and are very pleased to announce we have two joint 2nd prize winners: Puerto Rico’s Edgardo M. Mercado Pérez who totaled 670 ‘likes’ and Sweden’s Julia Brink, BlueLink Jets, who totaled 550 ‘likes’. All three will be receiving a hoverboard to fly about on!

    That’s all for now.

    The PayNode Team