Latest news with #mobileWallets
Entrepreneur
14-06-2025
- Business
- Entrepreneur
Entrepreneur UK's London 100: Up
Up turns tickets into interactive digital experiences that drive sales, streamline inventory, and boost audience engagement—all via mobile wallets Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. Industry: Entertainment Tech Up, founded by Greg Makarchuk and Alex Griffiths, turns tickets into interactive digital experiences that drive sales, streamline inventory, and boost audience engagement—all via mobile wallets. They built the MVP in a garden shed and just over a year later, Up was named a Top 22 Startup by Focal, raised pre-seed from VenturesTogether and top angels, and is now launching with a major West End theatre. They're gaining traction fast, working with partners like Spektrix, Kiln Theatre, and the Arts Theatre. "Everybody agrees tickets suck. So we're making tickets people actually want. Up has pioneered Dynamic Tickets—the first tickets to integrate short-form content, commerce and functionality, directly in each ticket, because tickets should be part of the event, not just the way you get in," says Greg Makarchuk, co-founder and CEO.
Travel Daily News
23-05-2025
- Automotive
- Travel Daily News
Car rental industry maintains momentum in Q1 2025 amid changing consumer trends
Mobile wallets and alternative methods now account for nearly 15% of transactions processed on the travel technology provider's platform, which reaches 1 billion passengers annually – about 25% of the global car rental market. The divergence in adoption rates between the U.S. and other regions suggests not only a lag in alternative payment adoption but also a risk: as Apple Pay, Google Pay, and BNPL gain ground elsewhere. The global car rental industry began 2025 on a strong note, showing resilience and adaptability despite ongoing economic uncertainty, supply chain pressures, and evolving customer expectations. According to new industry data, total booking volumes have continued to rise, reflecting the broader recovery of the travel sector and signalling sustained demand for flexible, tech-enabled mobility solutions. Growth Aligned with Travel Industry Recovery Booking volumes have increased significantly since early 2023 and maintained momentum into Q1 2025. March saw a notable year-on-year (YOY) rise in bookings, following predictable seasonal peaks in summer and dips around the winter holidays. While regional variations persist, the global trend points toward recovery and growth, buoyed by new partnerships and expanded travel offerings. Prices Stabilise, But Won't Return to Pre-Pandemic Levels After a period of volatility, average car rental prices are now showing signs of stability. Between March 2023 and March 2025, average booking costs fell from 312 euros (USD 347) to 262 euros (USD 291), driven in part by stabilising fleet supply and consistent demand. Despite significant increases in luxury and SUV rentals—up 81% and 51% respectively—overall prices have moderated. However, experts warn that lingering inflation and new U.S. auto tariffs may exert upward pressure in the medium term. Breakdown of average rental prices by region (March 2025): Europe: 238 euros (down from EUR 289 in 2023) UK: 236 euros / GBP 199 (down from 301 euros / GBP 253) North America: 284 euros / USD 316 (down from 332 euros / USD 369) EV Rentals Surge, Then Plateau Electric vehicle (EV) rentals grew from 0.6% of total bookings in January 2023 to 4% by March 2025, peaking at 5% in late 2024. Hybrid vehicle rentals increased more modestly, reaching 1.2%. North America leads in EV adoption, where EVs now represent 5% of rentals. Hybrid demand is stronger in Europe and the UK, accounting for 1.6% and 1.4% of bookings respectively. Booking Behavior Shifts Toward Flexibility The average lead time for bookings declined from 49.5 days in January 2024 to 42 days in March 2025, reflecting increased demand for short-notice rentals. Same-day bookings remain common during peak seasons, highlighting consumer preferences for spontaneity and flexibility. Meanwhile, desktop continues to dominate bookings globally (63%), though mobile usage is on the rise in the UK. Alternative Payment Methods Gain Traction Credit card usage for car rentals dropped from 90% to 85% globally YOY, with Apple Pay, Google Pay, PayPal, and BNPL options steadily gaining ground. The UK shows the most significant shift, with credit card payments falling to 83% of transactions. North America remains credit-card dominant (99%), largely due to a higher rate of post-paid bookings. Outlook: Opportunities for Tech-Enabled Growth Despite macroeconomic headwinds, the car rental market remains healthy, agile, and increasingly customer-focused. Consumers now prioritize sustainability, immediacy, and digital convenience – factors that favour alternative mobility models and fuel continued innovation across the sector. Brands that adapt by expanding EV options, offering flexible booking and payment tools, and embracing data-driven personalization are well positioned to capture market share in a rapidly evolving mobility landscape.
