Amadeus and Mastercard have unveiled a five-year extended international collaboration to help widen access to virtual card payments throughout the travel ecosystem. The two companies will keep providing effective, safe and flexible methods to send and receive payments via the relationship, according to a press release emailed to PYMNTS.
The expanded collaboration builds on a current strategic relationship committed to providing an automated, safe and expedient way to transmit payments via Amadeus’ B2B Wallet system, with virtual payment technology provided via the Mastercard Wholesale Program, according to the announcement.
“We’re pleased to continue our longstanding partnership with Mastercard,” Bart Tompkins, managing director of payments, Amadeus, said in the announcement. “Our commitment is to ensure our customers can access a wide range of virtual card payment methods from the Amadeus B2B Wallet.”
Virtual cards come with a number of benefits. They can safeguard cash flow, help alleviate the risk of defaults and streamline back-office reconciliation, while helping to bolster the payment experience for travel agencies and travel vendors like hotels and airlines, noted the announcement.
“Mastercard has long pioneered virtual card innovation, and remains committed to helping the travel industry benefit from greater payment protection and enhanced transaction visibility through the Mastercard Wholesale Program,” said Kevin White, director of travel, enterprise partnerships, Mastercard. “We’re thrilled to extend our partnership with Amadeus, a collaboration committed to leveraging expertise and innovations from both organizations to support recovery and growth for the travel sector.”
Amadeus is also collaborating with Conferma Pay and Booking.com on a new, simplified travel reservation and payment workflow. Through the partnership, the number of Booking.com properties that can be paid for with Amadeus Hotel Billback has increased from 20 percent to 80 percent. Establishments can send invoices directly to the traveler’s firm or travel agency via virtual cards.
Amadeus says that it helps link more than 1.6 billion individuals annually to local travel companies in more than 190 nations.