The Complex World of Travel Payments with Eric-Jan Krausch of 1-CP
In this episode, Lars Markull speaks with Eric-Jan Krausch, founder of 1-CP (One Click Procurement), a corporate payment solution focused on the travel industry. Eric shares his unique insights into the complex payment structures in travel and how these create opportunities for embedded finance products.The conversation covers the intricate value chain of the travel industry, from direct hotel bookings to global distribution systems, and explains how payments flow through this ecosystem. Eric details the growing trend of virtual cards for B2B payments in travel, discusses why credit cards remain dominant in the industry despite newer alternatives, and explores innovations like tokenized tickets and blockchain-based settlement systems.A fascinating deep dive into an industry where legacy systems meet modern fintech solutions, revealing why B2B payments in travel present larger opportunities than B2C, and how companies are finding new revenue streams through payment innovations.Visit our website at www.embeddedfinancereview.com for more content. This episode was produced by Orama.tv.(00:00) Introduction to Travel Industry Payments(00:28) Meet Eric-Jan Krausch: Travel Payment Expert(01:21) Understanding the Travel Industry Value Chain(03:07) The Role of Online Travel Agencies (OTAs)(06:53) Legacy Systems and Innovation in Travel(17:00) Financial Services in the Travel Industry(18:49) Virtual Cards and Payment Innovations(24:41) Challenges and Opportunities in Travel Payments(30:11) Future of Travel Payments and Technology(36:29) Eric-Jan’s Journey and Insights(38:54) Conclusion