Checkout.com, a service provider in the global digital
payments arena, has unveiled a strategic collaboration with Mastercard aimed at
introducing virtual cards to Online Travel Agents (OTAs). This collaboration marks
a step forward in enhancing payment efficiency within the travel industry.
Under the umbrella of the Mastercard Wholesale Program,
designed to alleviate costs for travel enterprises through the utilization of
virtual card technology alongside a pricing structure, Checkout.com customers are
set to benefit. The integration of virtual cards promises to facilitate
smoother transactions for customers, while concurrently enhancing conversion
rates.
“Mastercard remains committed to powering the travel
economy with digital payment solutions that provide greater flexibility,
visibility, and protection. Over 400,000 travel providers worldwide already
rely on us to enable payments through the Mastercard Wholesale Program, and
we’re thrilled to be collaborating with Checkout.com to support their customers
to embrace the next generation of payment solutions for B2B travel,” said
George Simon, EVP, Market Development, Mastercard Europe.
Payment Integration Enhances Efficiency for OTAs
The essence of this collaboration lies in amalgamating
acquiring and issuing functionalities, thus furnishing OTAs with a streamlined
mechanism for managing payments across their ecosystem. Traditionally, the
bifurcation of these processes could engender inefficiencies and susceptibility
to errors. However, Checkout.com’s integrated solution is positioned to
mitigate such challenges, ensuring a seamless transition from customer payment
acquisition to supplier remittances.
By ushering in a cohesive approach to payment management,
Checkout.com seeks to fortify trust and bolster relationships within the OTA
landscape.
“We’re delighted to partner with Mastercard to
complement our virtual card issuing solution, enabling Online Travel Agents to
unlock new revenue streams and deliver a connected customer experience.
Together we’ll offer higher payment performance to travel merchants by
combining the Mastercard Wholesale Program with our single integration
connecting acquired sales to issued cards, which unifies acquiring and issuing,
for better cash flow management,” said Meron Colbeci, Chief Product
Officer at Checkout.com.
Checkout.com, a service provider in the global digital
payments arena, has unveiled a strategic collaboration with Mastercard aimed at
introducing virtual cards to Online Travel Agents (OTAs). This collaboration marks
a step forward in enhancing payment efficiency within the travel industry.
Under the umbrella of the Mastercard Wholesale Program,
designed to alleviate costs for travel enterprises through the utilization of
virtual card technology alongside a pricing structure, Checkout.com customers are
set to benefit. The integration of virtual cards promises to facilitate
smoother transactions for customers, while concurrently enhancing conversion
rates.
“Mastercard remains committed to powering the travel
economy with digital payment solutions that provide greater flexibility,
visibility, and protection. Over 400,000 travel providers worldwide already
rely on us to enable payments through the Mastercard Wholesale Program, and
we’re thrilled to be collaborating with Checkout.com to support their customers
to embrace the next generation of payment solutions for B2B travel,” said
George Simon, EVP, Market Development, Mastercard Europe.
Payment Integration Enhances Efficiency for OTAs
The essence of this collaboration lies in amalgamating
acquiring and issuing functionalities, thus furnishing OTAs with a streamlined
mechanism for managing payments across their ecosystem. Traditionally, the
bifurcation of these processes could engender inefficiencies and susceptibility
to errors. However, Checkout.com’s integrated solution is positioned to
mitigate such challenges, ensuring a seamless transition from customer payment
acquisition to supplier remittances.
By ushering in a cohesive approach to payment management,
Checkout.com seeks to fortify trust and bolster relationships within the OTA
landscape.
“We’re delighted to partner with Mastercard to
complement our virtual card issuing solution, enabling Online Travel Agents to
unlock new revenue streams and deliver a connected customer experience.
Together we’ll offer higher payment performance to travel merchants by
combining the Mastercard Wholesale Program with our single integration
connecting acquired sales to issued cards, which unifies acquiring and issuing,
for better cash flow management,” said Meron Colbeci, Chief Product
Officer at Checkout.com.