Virgin Voyages Welcomes Fintech Paysafe Aboard for Online Payments

Paysafe (NYSE: PSFE), a payments platform, announced a partnership with Virgin Voyages, Richard Branson’s lifestyle travel brand “focused on delivering irresistible cruise vacations for adult travelers.”

Paysafe will “ensure travelers can quickly and securely pay online for their next cruise with Virgin Voyages, whose payments risk will also be mitigated by Paysafe’s bespoke travel solution.”

Whether booking an opulent Virgin Voyages cruise in the Caribbean, Europe, or the South Pacific as well as Transatlantic crossings, travelers can now “use their credit card to pay online to book their exclusively adult seabound vacation through Paysafe, with all transactions processed seamlessly.”

With 20+ years’ card-not-present payments’ experience, including for travel merchants, Paysafe will “allow Virgin Voyages to better serve its global customer base by accepting payments in multiple currencies besides the U.S. dollar.”

The relatively high-risk nature of cruise travel payments – with cruises often booked many months in advance of travelers’ setting sail – “will be mitigated by Paysafe, which has deep expertise in risk management for travel merchants.”

Paysafe’s custom risk product for Virgin Voyages “leverages Mastercard’s T&E Risk Monitor, which is powered by Actuary, to provide the merchant with full transparency on the holdback and release of funds for processed ticket sales, ensuring effective credit risk management.”

Paysafe will also “help Virgin Voyages negotiate the issue of fraud and chargebacks through its dedicated in-house risk and chargeback teams.” In addition, a Cruise Line Relationship Manager at Paysafe “will enable Virgin Voyages to overcome specific payments challenges.”

Afshin Yazdian, President of Merchant Solutions at Paysafe, said:

“We’re delighted to partner with Virgin Voyages, the latest venture from the iconic Virgin Group and its co-founder Richard Branson. We look forward to supporting this unique travel brand’s growth by leveraging our travel payments experience to facilitate the reservation process for Virgin Voyages and its customers.”

John Birdsall, Senior Director of Corporate Accounting at Virgin Voyages, commented:

“Virgin Voyages is strongly focused on giving our Sailors the vacation of a lifetime, and this covers every aspect of their experience including booking their trip and making safe and secure online payments. Our partnership with Paysafe has helped create a smooth and seamless process.”

As covered, Paysafe claims it is “a leading payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions.””

With over 20 years of online payment experience, an annualized transactional volume of over U.S. $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe “connects businesses and consumers across 100 payment types in over 40 currencies around the world.”

Delivered through an integrated platform, Paysafe solutions are “geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.”

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