Nium, the enabler of real-time cross-border payments, recently announced its partnership with luxury tour operator Scott Dunn to issue virtual cards to its global network of hotel providers.
Nium’s virtual card solution reportedly “enables travel intermediaries to effectively pay airlines, hotels, and the global travel ecosystem via more efficient, cost-effective, and secure transactions in more than 20 local currencies.”
Scott Dunn’s extensive network of global hotel partners are said to benefit “from improved reconciliation, card scheme protection, and quicker access to funds, helping to maximise working capital and improve cash flow.”
In 12 months since working with Nium, Scott Dunn has reportedly “been able to add new hotel destinations to its offering that it couldn’t before, improve conversion rates among its customer base, and strengthen its provider relationships.”
Mark Woodall, Chief Financial Officer at Scott Dunn said:
“Accelerated by the post-pandemic travel boom, high-net worth individuals and families are seeking new experiences and more bespoke holidays than ever before. In a short period of time, Nium‘s innovative virtual card payment solution has enabled us to expand our global footprint by offering more choice, flexibility, and control to our new and existing hotel partners around the world, in turn driving deeper connections, better prices, and improved experiences for our customers.”
Spencer Hanlon, Global Head of Travel Payments at Nium said:
“For decades, payments have been perceived as a necessary cost of doing business, and the travel industry is no exception. Our partnership with Scott Dunn is a great example of how this is changing. Today, virtual card solutions are helping travel businesses unlock value from payments to create new revenue streams and differentiate from the competition. We look forward to continuing to help Scott Dunn accelerate growth and meet the needs of its customers with our innovative payment solutions.”
The announcement follows the recent news of Nium’s partnership “with Secret Escapes as the fintech continues on its mission to transform the way hotels get paid worldwide.”
Its combination of virtual card solutions “with an extensive real-time cross-border payments network for collections and payouts to bank accounts, digital wallets, and cards in over 100+ currencies and 190+ markets offers a unique proposition for the travel industry.”
