The Norse Atlantic Airways inaugural flight from London Gatwick arrived on 1st December 2023 into Montego Bay with hundreds of excited holidaymakers on board. The much-anticipated flight was given an auspicious welcome amidst a press fanfare at the Sangster International Airport. The arrival of the historic flight introduced the beginning of a new chapter in travel between the United Kingdom and Jamaica. The occasion reflects the commitment of both nations to foster mutual growth in the tourism industry, creating boundless opportunities for both Jamaican and British travellers alike.
Loyalty Points Don’t Need Protection, But Here’s What Does, Say Merchants
25.11.2023 - 14:07 / forbes.com
Maybe you've seen the Protect Our Points campaign funded by the airline and credit card industries. It's an effort to block passage of the bipartisan Durbin-Marshall Credit Card Competition Act, a bill that promises to lower costs for consumers by bringing competition to credit card processing fees.
Will the bill really kill your loyalty points? And how would it affect you? I asked Doug Kantor, general counsel of the National Association of Convenience Stores, which supports the bill, for his perspective. Here's our interview:
Most consumers don't understand what happens when they use their credit card to buy something. They just swipe their card and then receive rewards. Can you explain what is going on behind the scenes, and how it affects consumers and merchants?
When a customer uses a credit card, the transaction gets transmitted over networks like Visa and MasterCard to the bank that issued the card for approval and processing. Then it comes back to the merchant with either an OK or a rejection.
This whole process takes seconds, and it’s a far cry from the old days, when cards went through a “knuckle buster” machine — if you’re old enough to remember those. I know I am. Back then, pieces of carbon paper had to be flown back and forth across the country.
You'd think that as the technology improves, costs would come down. But have they?
No. Even though the process has become more automated and cheaper for the card networks and banks, they are demanding more and more money to do the same thing. They currently charge merchants between 2% and 4% of the transaction every time a card is used. That’s anywhere from $2 to $4 out of every $100 spent, even though it costs them only pennies regardless of the amount.
That adds up quickly, and swipe fees are now most merchants’ highest operating cost after labor. It’s far too much to absorb, so credit and debit card swipe fees drive up the prices merchants have to charge by over $1,000 a year for the average family.
I don’t know about you, but I consider that a lot of money. And it’s a huge burden for families out there struggling to make ends meet.
Can you give me a sense of how much credit card swipe fees have increased in recent years?
Credit card swipe fees are going up at a dizzying rate. Visa and MasterCard swipe fees have more than tripled since 2010 and are up 50% just since the pandemic. That’s because the card networks keep raising the rates charged to merchants and also because they make their “prices” a percentage of the transaction amount.
Since the fees are a percentage of the transaction, they go up automatically when prices go up. That makes them a multiplier for inflation. And by taking a percentage rather than charging a set fee, it’s
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forbes.com
08.12.2023 / 19:13
London’s Best Festive Activities And Events December 2023
For fans of Christmas festivities, London has some of the best activities and events in the world. The iconic landmarks and streets are lit up with dazzling displays, there’s Winter Wonderland in Hyde Park, traditional Christmas markets offering unique gifts and seasonal treats and ice skating at beautiful venues like historic Somerset House. Here are a few suggestions if you’re visiting London this month.
travelandleisure.com
08.12.2023 / 17:13
Drake Is Reviving an Abandoned Fantasy Amusement Park in Los Angeles — Here's How to Get Tickets
If anyone knows how to have a good time, it’s Drake. The actor-slash-rapper — he’ll always be a Degrassi kid to us first — is proving his fun and artistic prowess all in one go with his investment and revival of a long-forgotten amusement park.
thepointsguy.com
07.12.2023 / 21:07
American Airlines credit card spending now earns Loyalty Points based on purchase date
Cobranded American Airlines credit cards let you earn American miles and Loyalty Points when you make purchases with your card. But on Wednesday, Dec. 6, I got an email from the American Airlines AAdvantage program titled "Reaching AAdvantage® status with your credit card." The highlight of the email is displayed under the "What has changed?" heading:
lonelyplanet.com
07.12.2023 / 16:13
15 things to know before going to Indonesia: culture, etiquette and safety
If you’re looking for culture, activities, wildlife or sheer adventure, Indonesia is one of the richest countries in the world. With an estimated 13,466 islands, it's a whopper too. But Indonesia beyond Bali and Lombok (and the Gili Islands) remains largely unknown to many travelers. To pick just one example, Sumatra (80 times the size of Bali) is almost a world in itself. And yet people ask the question: “Is Indonesia worth visiting?”
lonelyplanet.com
06.12.2023 / 14:15
Do I need a visa to visit or work in Panama?
Panama is the perfect vacation destination for adventure lovers, culture and history buffs, and, naturally, beach bums – its biodiversity, rich coastlines and unfathomable islands have to be seen to be believed.
nytimes.com
05.12.2023 / 19:53
What to Eat, See and Do During Miami Art Week
Each December, visitors from around the world descend upon South Florida for the annual Miami Art Week. Over the past few years, the region has also had an influx of new residents. An array of restaurants, boutiques and other businesses have opened alongside the community’s longtime favorites, with both the new and the old appealing as much to out-of-towners as they do to Miamians.
traveldailynews.com
05.12.2023 / 08:36
LATAM Airlines inaugurates new London to Lima route
LATAM Airlines will operate the route between the UK capital and Peru with five weekly frequencies on Mondays, Tuesdays, Wednesdays, Fridays and Sundays. This is the first time a Peruvian crew has operated a flight between Peru and the UK. This represents a milestone in aviation in the Andean region.
forbes.com
03.12.2023 / 14:21
Air Travelers Are Missing Billions In Compensation. Here’s How To Get It
Airlines owe American travelers billions of dollars in compensation for flight cancellations and delays. And some take months to pay — if they do at all.
thepointsguy.com
01.12.2023 / 15:55
Does British Airways owe me $1,000 for my delayed bag?
After his delayed British Airways flight from Boston to London finally touched down, Andrew Horn raced to the luggage carousel. He didn't have time to spare. Horn needed to quickly collect his bag and make a connection on a separate ticket to Zurich, Switzerland, where he was attending a business meeting.
forbes.com
29.11.2023 / 18:39
Where To Drink In London: 14 Of The City’s Best Bars, According To Gin Entrepreneur Simon Ford
They drink differently in London than we do here in New York. For one thing, pubs open—and close—a lot earlier. For another, expect to buy a round for your friends at a pub, and count on them to buy you a drink in return. (All of which may explain why they drive on the wrong side of the road.)
breakingtravelnews.com
29.11.2023 / 16:18
A new government in Argentina: what does this mean for tourism?
This week free-market candidate Javier Milei won the Presidency in Argentina in a sweeping 55% of the vote victory and his core election promises were to abolish the Peso and introduce the Dollar, slash public spending and generally liberalize the economy. If he proceeds with this agenda what will that mean for the tourism sector – inbound, outbound and domestic – in what is Latin America’s biggest economy? How quickly could we see changes? How relevant is this to international tourism sector?