Challenges and Opportunities of the Transmission to Use Cashless Payment Methods in Egyptian Hotels and Travel Agencies

Moving towards digitalization is a common approach for all business sectors nowadays. Tourism industry as a pioneer service industry is moving rapidly and staidly towards digitalizing all its’ activities and operations to achieve more business efficiency and sustainability. Cashless payment tools are an important feature of digitalizing tourism business operations, as it fulfils the needed requirements for achieving tourism business sustainability and efficiency, through providing a wide range of advantages and opportunities. This study aims to investigate the challenges and opportunities of widening the use of cashless payment tools by Egyptian hotels and travel agencies, and their readiness and awareness degree in this concern. The study used quantitative approach by distributing a questionnaire to managers in 4- and 5-star hotels and travel agencies in Cairo, to measure and assess the awareness of Egyptian hotels and travel agencies concerning the advantages and challenges of the transformation to use non-cash payment methods, and their effect on their willingness and readiness concerning the transformation process. The study concluded that Egyptian hotels and travel agencies are ready enough and willing to be more dependable on cashless payment tools, but there are some challenges causing the transformation process to be slow and non-smooth. As well the study recommended that the Egyptian government must work together with hotels and travel agencies to demolish all challenges and maximize the advantages and benefits of digital transformation©2023 Faculty of Tourism and Hotels, Fayoum University All rights reserved