The US Department of Justice (DOJ) has filed an antitrust lawsuit against Visa, accusing the payment giant of stifling competition through various anti-competitive practices. The lawsuit alleges that Visa has maintained its market dominance through questionable agreements with card issuers, merchants, and potential competitors, allowing it to collect billions in fees annually. Visa has denied the allegations and plans to vigorously defend itself in court.
GroupSync has partnered with Spreedly to integrate their open payments platform into GroupSync, a platform that facilitates online bookings for group hotel rooms and meeting spaces. This integration will enable GroupSync’s hotel customers to quickly connect with their PSPs, streamlining payment processes and saving time. The collaboration aims to simplify the group travel booking process, foster trust, and drive revenue for customers.
Maestro PMS, a leading property management system, has announced the integration of MezzoPay, a new payment processing solution, into its services. MezzoPay, powered by Fullsteam, allows hotels to conduct seamless financial transactions directly through the hotel’s management system, eliminating the need for external payment processors. This integration simplifies the payment process, minimizes errors, and improves the overall guest experience. Key features of MezzoPay include comprehensive PCI compliance tools, enhanced security with tokenized credit card information, an internal Payments Dashboard, daily automated reconciliation reports, direct support from Maestro PMS, the ability to process contactless payments, and seamless integration with hotel websites and e-commerce platforms.
Nium, a leader in real-time cross-border payments, has joined forces with Thredd, a premier payments processor, to enhance B2B travel payments in the Asia Pacific (APAC) region through the issuance of virtual cards. This collaboration taps into the growing demand for secure and efficient payment solutions in the travel sector, particularly among travel brokers. Nium’s virtual card technology enables secure and seamless payments to global travel providers, including hotels and airlines, leading to increased security, streamlined efficiency, and cost savings. Forecasts from Thredd predict significant growth in B2B travel transactions, with APAC poised to reach $480 billion by 2027.
Visa (NYSE: V) reported strong financial results for its fiscal Q2 2024, surpassing Wall Street’s expectations for earnings and revenue. The company’s earnings per share (EPS) of $2.51 exceeded the projected $2.44, while revenue reached $8.78 billion, outpacing the estimated $8.62 billion.
