SAN JOSE, Calif.--The current strength of the dollar, coupled with declining gas prices and transportation costs, means that more Americans can afford to travel outside of the U.S. – some for the first time. New research findings from PayPal* show that the strong dollar is having an impact on Americans’ travel plans, though more could be taking advantage of the golden opportunity. To help Americans capitalize on this opportunity, PayPal has launched a multi-European city travel program replete with discounts, deals and insider travel tips.
“Our research found that one in five (21 percent) of Americans are considering a trip to Europe and nearly half of those travelers cite the strengthening dollar as a factor in their decision-making (47 percent),” said Carey Kolaja, Vice President, Head of Global Consumer Products at PayPal. “Yet, for many, international travel is still a daunting concept – shrouded by the mysteries of currency exchange rates, foreign transaction fees and financial safety. As a leading global payments processor, PayPal is uniquely positioned to help alleviate concerns, making planning a trip to Europe as simple, seamless and secure as going to the local grocery store.”
This summer, PayPal is working with merchants in Barcelona, Paris and Rome to deliver discounts and deals with speed, simplicity and security.
But traveling in the modern age is about more than using the Internet to bargain hunt – it’s about harnessing the power of technology to help protect yourself and your dollars.
PayPal’s research, which explored the general travel experiences and plans of a nationally representative sample of more than 1,000 randomly selected adults in the U.S., reveals that many Americans employ outdated travel habits, including some financial protection measures that actually undermine the very security concerns those travelers seek to address.
Of those considering a trip to Europe, 36 percent say they protect their money by wearing a fanny pack or neck wallet at all times; eight percent say they have taped cash to their body, and three percent bring their own safety deposit box – all methods that are far less seamless and secure than digital payments.
With half of respondents saying that their biggest financial concerns are the security of their credit/debit cards (51 percent), the security of their money (48 percent), and the security of their personal financial information (44 percent), it’s clear that American travelers should consider more digitally-secure options when touring abroad.
“It can be exciting, but also intimidating to travel abroad for the first time,” continued Kolaja. “PayPal and our merchants are excited to provide our customers with unique offers that help lessen the doubt involved with foreign currencies and ensure less risky payments so they can feel empowered to explore their new destination with confidence.”
*In April 2015, GfK Custom Research LLC (GfK) administered a survey to explore general travel experiences and plans to a nationally representative sample of 1,011 randomly selected adult U.S. residents. The data were statistically weighted so that respondents in the survey were demographically and geographically representative of the U.S. population. To participate, respondents were required to be 18 or older.
At PayPal, we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution, processing almost 11.5 million payments for our customers per day. PayPal gives people better ways to connect to their money and to each other, helping them send money without sharing financial information and with the flexibility to pay using their PayPal account balances, bank accounts, PayPal Credit and credit cards. With our 162 million active digital wallets, we have created an open and secure payments ecosystem people and businesses choose to securely transact with each other online, in stores and on mobile devices. PayPal is a truly global payments platform that is available to people in 203 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in their PayPal accounts in 26 currencies. PayPal is an eBay Inc. (Nasdaq:EBAY) company. In September 2014, eBay Inc. announced the planned separation of eBay and PayPal into independent publicly traded companies in 2015. More information about PayPal can be found at www.paypal.com and www.paypal-media.com. More information about the planned separation of eBay and PayPal can be found at update.ebayinc.com.
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