Checkout.com, a global digital payments provider, announces a partnership with Mastercard to bring virtual cards to Online Travel Agents.
As part of the Mastercard Wholesale Program, which “reduces costs for travel businesses through virtual card technology and an innovative pricing model, customers of Checkout.com will be able to pay their suppliers more easily and benefit from higher conversion rates by issuing virtual cards.”
George Simon, EVP, Market Development, Mastercard Europe said:
“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.”
Meron Colbeci, Chief Product Officer at Checkout.com said:
“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.”
By combining acquiring and issuing, Checkout.com says it “helps Online Travel Agents move seamlessly from receiving customer payments to paying suppliers.”
Traditionally, Online Travel Agents had “to manage these two sides of their business separately, which can lead to inefficiencies and increased potential for error.”
Checkout.com’s integrated solution “ensures a seamless flow from customer payment acquisition to supplier payouts, turning what used to be a cumbersome process into a cohesive, streamlined operation. In turn, this deepens trust and relationships within the ecosystem.”
In another recent update, it was noted that in the aftermath of recent severe weather conditions the UAE witnessed, global payments solution provider Checkout.com has conducted a comprehensive analysis revealing significant shifts in transaction volumes across various sectors.
