Boodil, a UK-based account-to-account payment provider, has partnered with Aquilium Travel, a specialist in travel technology, to revolutionize payment processes within the travel sector. This collaboration aims to streamline transactions, reduce fraud, and enhance the overall payment experience for both travel businesses and their customers.
Aquilium Travel’s platform offers solutions for dynamic packaging, online booking engines, and distribution, serving a wide array of travel companies. Integrating Boodil’s technology will allow Aquilium’s clients to offer secure, instant bank transfers directly to their customers. This eliminates the need for traditional card payments, decreasing processing fees significantly.
The partnership addresses key pain points in the travel industry, such as high card fees and the ever-present threat of fraud. By using open banking technology, Boodil facilitates payments directly from the customer’s bank account, reducing the risk of chargebacks and fraudulent transactions. This provides a more secure and cost-effective payment option for travel companies.
Furthermore, the integration promises faster settlement times, enabling travel businesses to access their funds more quickly. This improved cash flow is particularly beneficial for smaller and medium-sized enterprises (SMEs) operating in the travel market. The enhanced security and efficiency of Boodil’s payment solution are expected to improve conversion rates and customer satisfaction for Aquilium Travel’s clients. Travelers will benefit from a seamless and secure payment process, resulting in a more positive booking experience. This collaboration signals a move towards modernizing payment infrastructure within the travel industry, leveraging the power of open banking to create a more efficient and reliable ecosystem.
Key Points
- Boodil, a UK-based account-to-account payment provider, partners with Aquilium Travel, a travel technology specialist.
- The aim is to optimize travel payments, reduce fraud, and enhance customer experience.
- Boodil’s technology enables secure, instant bank transfers, eliminating card payments.
- Open banking technology reduces the risk of chargebacks and fraudulent transactions.
- Faster settlement times improve cash flow for travel businesses, especially SMEs.
- The integration is expected to improve conversion rates and customer satisfaction.
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