Today, Mastercard announced it is strengthening its ongoing partnership with Booking.com, the world’s leading digital travel platform, to streamline B2B payment processes in the travel and tourism industry.
This enhanced partnership with Booking.com focuses specifically on accelerating the utilization of Mastercard Virtual Cards, aiming to simplify B2B payments and bring more flexibility, security, and convenience to the overall travel partner experience.
Recognizing the inherent time lag and friction in B2B payments within the travel industry, often relying on time-consuming and manual processes, the use of Virtual Cards will not only help increase visibility for transactions between travel partners and their suppliers through an automated reconciliation, but also streamline business payments and introduce improved security. Virtual card technology has 30x lower fraud risk compared to traditional payment cards.
Virtual cards provide a unique, traceable link…