As corporate travel evolves, the adoption of virtual cards is accelerating, demanding that Travel Management Companies (TMCs) and hotels adapt their systems to meet the changing needs of their clients. This trend offers significant benefits, including enhanced security, streamlined operations, and improved customer experiences.
Nium, a global leader in real-time international payment solutions, has partnered with HappyEasyGo, a prominent online travel agency. This partnership will provide HappyEasyGo with virtual cards as the primary digital payment method for transactions with its travel suppliers. Nium’s payment solutions streamline payment processes, reduce costs, and enhance customer service. The company’s specialized offerings for online travel agencies include quicker and more secure transactions, boosting profitability and optimizing operations. In 2023, travel in the APAC region rebounded to 65% of pre-pandemic levels, highlighting the need for reliable payment systems. Nium’s solutions offer benefits such as funding and issuance of virtual cards in over 20 local currencies, reducing foreign exchange costs and enhancing global acceptance. Additionally, invoice settlements within two days and customizable payment account settings provide businesses with greater control over cash flows and revenue generation.
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.
