Innovation

📅 Tappit and Journey Mentor announce a five-year partnership to develop a loyalty and customer experience program using Tappit’s white label technology for mobile payments and real-time data insights. Customers of Journey Mentor can utilize features like wallet charging, holding balances in various currencies, and wallet-to-IBAN/card transfers. Tappit’s CEO Jon Romm and Journey Mentor’s CEO Paul Sies aim to transform customer experience and set new industry standards.

🍳 ConnectSmart® RecipesPlus, a digital recipe platform from QSR Automations, revolutionizes kitchen operations by replacing traditional recipe books with an easy-to-use, accurate, and cloud-managed software. It offers AI-powered translations in over 100 languages, streamlines training, increases productivity, and ensures consistent customer experiences. Digitization eliminates printing costs and offers time and labor savings, with recipes centrally updated for any number of restaurant sites.

💸 In 2021, Bitcoin surpassed $20,000, reaching nearly $70,000. By 2022, the crypto market saw failures like Terra's UST crash and FTX's collapse. In 2024, Bitcoin rallied again, crossing $70,000 in March, following Bitcoin ETFs' approval. The SEC sued 31 crypto firms for securities law violations but dropped an Ethereum investigation in June. Despite skepticism in the travel industry, central banks are issuing Central Bank Digital Currencies (CBDCs). Phocuswright's report reveals 70% of travel companies have no plans to accept digital currencies.

📍 Flight-free travel tech start-up Byway raised £5 million in an oversubscribed Series A funding round, led by Heartcore Capital and with contributions from Eka Ventures and returning Byway angels. The funds will fuel team expansion, entry into new markets, and development of Byway's JourneyAI, the world’s first 100% flight-free holiday planner. Byway, riding the wave of sustainable travel demand, plans to enrich holidays by making journeys integral to the experience. Upcoming months will see new tech, product, finance, business development, and customer support roles launching. CEO Cat Jones expresses delight at investor enthusiasm for flight-free travel's future.

🏑️ Hays Travel Group invested in My Kind of Cruise, the first fully bookable cruise app. CEO Sefton Monk launched the app in 2022, which now boasts 303,000 users with over half being Millennials or Gen Z and a 46% repeat booking rate. Dame Irene Hays of Hays Travel praised Monk’s innovative approach. Hays directors, Jonathon Woodall-Johnston and Ken Campling, will join the My Kind of Cruise board. The app, popular among first-time cruisers with 58% new to cruising, plans to expand beyond the UK market.

📰 Outpayce, part of Amadeus, selected Mambu's cloud platform to launch its multi-currency digital wallet, enhancing travel payment experiences. Securing an EMI license in 2023 from the Bank of Spain, Outpayce chose Mambu for its financial institution support and presence in 65+ countries. Mambu's SaaS platform allows Outpayce to manage multi-currency accounts and support fund transfers across many payment schemes. With the EMI license, Outpayce plans to expand payment services throughout Spain and the EU, with Mambu's go-live expected soon.

🏖️ A new Opinium survey shows only 3% of baby boomers (60+) have used AI for holiday planning, with 2% planning to this year, whereas 42% of Gen Z have or plan to. 87% of over sixties won't use AI for such purposes. Around 20% of Gen Z and 18% of Millennials currently utilize AI for holidays, with 22% of Gen Z and 13% of Millennials considering it within the next year. Gen X shows minimal usage at 4%, with 7% considering it for ideas and 6% for itineraries. Despite this, 73% of Gen X are opposed to using AI for holiday planning. Christian Bennett of Multitrip.com highlights the growing trend among younger generations and the importance of travel insurance.