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easyJet
How Lloyds Bank have helped one of Europe’s leading airlines reach new altitudes.
Read time: 3.5 mins Added date: 30/05/2024
Flying high
Excellent service in the sky requires excellent payment infrastructure on the ground. For nearly two decades, Lloyds Bank have been supporting easyJet’s customers as they buy tickets for take-off through the provision of consistent and well-supported merchant acquiring solutions.
With a fleet of over 300 aircraft operating across 1,024 routes between 155 airports in 36 countries, easyJet is one of Europe’s leading airlines. In 2022 alone, the airline transported 33 million people in the UK to their destination. Considering the sheer volume of people taking to the skies in easyJet’s distinctive orange planes, the airline requires an effective and consistent partner to process card transactions for ticket sales. Lloyds Bank Cardnet® is proud to have been one of several acquirers supporting easyJet with a range of acquiring solutions since 2006.
Up and away
For an airline as big as easyJet, downtime in terms of payment processing can cause enormous disruption for customers. Throughout the duration of the relationship, Lloyds Bank has provided excellent uptime. “We process 50 million transactions each year, representing several billion pounds in volume. So even a 10- or 20-minute outage in real terms could easily add up to £1 million in sales lost – or perhaps even resulting in lost customers,” says Paul Bolton, Payments Director at easyJet.
The level of service offered by Lloyds Bank has also provided reassurance should there be any issues. “Just in general, if there is an issue then we always get a very prompt response from the team,” explains Tara Mor, Payments Product Manager at easyJet. “Normally within the hour,” she adds.
I work very closely with Lloyds Bank as an acquirer and the performance is great. And if there is an issue then we always get a very prompt response from the Lloyds Bank team – normally within the hour.
Tara Mor Payments Product Manager at easyJetA smooth journey from transaction to settlement
Lloyds Bank offer a T+1 settlement service, which means that when easyJet customers make transactions, the funds are settled in easyJet’s account the following day. Paul explains that this has made a difference in recent years given the level of uncertainty. “Covid-19 represented trying times, and cash flow then was critical,” says Paul. “T+1 settlement is very valuable. Fundamentally, we’d always rather have the liquidity in our account than elsewhere.”
easyJet also use Lloyds Banks’ Cardnet online MI tool, allowing them to manage chargebacks, view online transaction reports and easily reconcile transactions. “We mainly use it for reporting,” comments Paul. “But in terms of reconciliation, I think it gives us everything we need. We can log in and view reports, and if we have bespoke questions then I can reach out to the Lloyds Bank team who are very good at running tailored reports or supplying extra data if we need it.”
Sky-high support
Paul and Tara believe that one of the reasons behind the successful relationship throughout its 17-year duration comes down to the level of support offered by Lloyds Bank, in particular with their Relationship Manager, John Slimin. “I really enjoy the work we do with the Relationship Manager, John. He’s one of the most professional payment leaders I’ve met throughout the duration of my career,” explains Tara.
This is a sentiment echoed by Paul: “John gives us regular scheme updates to tell us what’s going on – he tends to see any issues on the horizon very quickly and he’ll flag them. He’s very quick to communicate everything – even before it becomes an issue.”
Lloyds Bank offers a first-class service to easyJet; not only ensuring that payments can be processed smoothly but also – and most importantly – providing them with the means to prioritise their customers.
John Slimin Relationship Manager at Lloyds Bank“Providing merchant acquiring services to one of Europe’s leading airlines is a huge responsibility, with millions of easyJet’s customers using Lloyds Bank’s payments infrastructure to book their trips,” says John Slimin, Relationship Manager at Lloyds Bank. “easyJet have access to Cardnet’s VIP operational support team including Andy Taylor, their dedicated Operational Support Relationship Manager. Which means that we offer a first-class service to the airline; not only ensuring that payments can be processed smoothly but also – and most importantly – providing them with the means to prioritise their customers.”
Lloyds Bank and easyJet have had a successful and productive relationship since 2006, with the bank supporting millions of easyJet’s customers as they make transactions to the airline. “The service Lloyds Bank provides does exactly what I need of it,” says Paul. “The team are good, the products are good, and the functions are good. There’s absolutely nothing wrong with it.”
For more information on how our Merchant Acquiring solutions can support your business, speak to your Cash Management & Payments specialist.
Cardnet® is a registered trademark of Lloyds Bank plc.