Mastercard teams up with travel technology solutions company

This relationship is expected to provide flexible, secure, and efficient ways to make and receive payments

Mastercard Amadeus

Mastercard teams up with travel technology solutions company. Source: pexels.com

Amadeus and Mastercard have announced a 5-year extended global collaboration to help broaden access to virtual card payments across the travel ecosystem.

The expansion is based on an existing relationship committed to offering an automated way to pay and get paid through Amadeus’ B2B Wallet payment platform with virtual payment technology offered through the Mastercard Wholesale Program.

The program is a solution specifically designed for the travel industry utilizing virtual card technology. It is aimed to enhance payment protection and increase visibility for transactions between travel agencies and their suppliers.

Virtual cards can protect cashflow, mitigate risk of default and simplify back-office reconciliation. Meanwhile, they are helping to improve the payment experience for both travel agencies and travel suppliers, such as airlines and hotels.

The way travel agencies make payments to suppliers is changing. Virtual card payments help agencies respond to the challenges of COVID-19 by protecting cashflow, reducing risk, and improving back-office efficiency, whilst also improving settlement terms for suppliers. We’re pleased to continue our longstanding partnership with Mastercard. Our commitment is to ensure our customers can access a wide range of virtual card payment methods from the Amadeus B2B Wallet
Bart Tompkins, Managing Director Payments, Amadeus

We’ve reported that Wirex and Mastercard launched multicurrency debit card.

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