- The collaboration enables Checkout.com's customers to
access the Mastercard Wholesale Program, unlocking reduced costs
and higher conversion rates
- The partnership supports Online Travel Agencies (OTAs) and
other travel sector businesses that use cards to make B2B payments,
as the market is forecast to reach $1.5
trillion in revenues by
2027[1]
- The partnership follows Checkout.com's launch last year
of Issuing in the UK and Europe,
enabling brands to issue, process, and manage card programs, and
combine with acquiring to fund cards efficiently
LONDON, May 2, 2024
/PRNewswire/ -- Checkout.com, a leading global digital payments
provider, today 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.
"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" said
George Simon, EVP, Market
Development, Mastercard Europe.
"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", said Meron Colbeci, Chief Product Officer at
Checkout.com.
By combining acquiring and issuing, Checkout.com 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.
Notes to editors:
To learn more, please visit our website here.
For more information on Mastercard's Embracing a virtual future
for B2B travel payments report, SEPTEMBER
2023;
www.mastercard.com/global/en/business/large-enterprise/mastercard-enterprise-partnerships/b2b-travel-solutions/global-wholesale-travel-whitepaper.html
About Checkout.com
Checkout.com offers a high-performance, cloud-based payments
platform that transforms payments into a significant revenue source
for enterprises and scaling businesses. Its technology is built for
flexibility, scalability, and efficiency, enabling seamless
processing of payments, payouts, and card program management.
Checkout.com is headquartered in London, with offices in New York, Paris, Dubai,
Hong Kong, and other locations
across six continents. Customers include global OTAs such as Reward
Gateway, Hopper, Grab, Flyin and Dott.
Checkout.com. Where the world checks out.
[1] Phocuswright, U.S. Online Travel
Agency Market Report 2021–2025, March
2022.
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