SINGAPORE, 29 May 2024: Nium, a global cross-border payments system, announced this week that HappyEasyGo, an online travel agency, has selected it for virtual card payments.
Launched in 2017, HappyEasyGo has emerged as one of Asia’s fastest-growing flight and hotel booking platforms, with thousands of leisure and business travellers planning journeys daily. Nium’s virtual cards will be the digital standard for payments to HappyEasyGo’s travel suppliers.
HappyEasyGo CEO Boris Zha, said: “Nium’s payment solutions have been transformative for our operations. Their ability to issue virtual cards quickly and in multiple currencies has streamlined our payment processes, reduced costs, and enabled us to offer better service to our customers. We look forward to continuing our work with Nium as we expand our business to more parts of the globe.”
Nium’s comprehensive suite of payment solutions is tailored to address the unique challenges faced by online travel agencies (OTAs) and travel intermediaries. It ensures faster, more secure transactions that enhance profitability and streamline operations.
This year, Nium reported a 110% increase in revenue from its travel business in the APAC region, highlighting the growing demand for reliable and efficient payment solutions in the dynamic travel industry. In 2023, APAC had reached 65% of pre-pandemic travel levels, making it one of the world’s fastest-growing travel markets.
“Our growth in the APAC region is a testament to our commitment to providing innovative payment solutions that address the specific needs of the travel sector,” said Nium Global Head of Travel Payments, Spencer Hanlon.
“Our partnership with HappyEasyGo shows how our advanced payment solutions can drive success for online travel agencies by improving operational efficiency and profitability.”
One of Nium’s key offerings is the ability to fund and issue virtual cards in over 20 local currencies, significantly lowering foreign exchange conversion costs and improving acceptance worldwide. This capability is critical for travel businesses operating in multiple markets, including HappyEasyGo.
Nium’s travel payment solutions also include the ability to settle invoices within two days instead of the industry standard of 30 days, as well as customised payment account parameters, giving businesses end-to-end control over cash flow and revenue generation while reducing margin erosion.
With a robust portfolio of Mastercard and Visa-certified virtual cards, Nium’s OTA and travel intermediary customers can offer more flexibility and choice for their hotel and airline partners, strengthening supplier relationships and, in turn, driving better experiences for travellers around the world.
About HappyEasyGo
HappyEasyGo entered the Indian travel industry in 2017, offering affordable flight booking solutions for Indian business and leisure travellers. After witnessing rapid growth in the flight booking space, the company forayed into the hotel booking genre to add to the convenience of its customers and help them save more while travelling.
HappyEasyGo has become India’s leading online travel aggregator in an extremely short span. HappyEasyGo offers domestic and international flight tickets and thousands of hotels across India through its various platforms.
About Nium
Nium’s payout network supports 100 currencies and spans 220+ markets. The company is co-headquartered in San Francisco and Singapore.
