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Checkout.com, a leading payments solution provider, has partnered with Visa, the global leader in digital payments, to deliver enhanced payment capabilities to travel businesses.
During Visa's third-quarter earnings call, CEO Ryan McInerney highlighted the collaboration. This partnership aims to address the unique challenges faced by the travel industry in managing payments and cash flow.
Through this partnership, travel businesses can now access Visa's established global network through Checkout.com's platform. This collaboration also enables the issuance of physical and virtual Visa cards on behalf of merchants, providing instant access to funds collected from consumers.
The traditional need for pre-funding is eliminated, speeding up cash flow and allowing travel businesses to immediately pay suppliers, reducing operational friction and improving spend control. The combined acquiring and issuing capabilities on Visa's global network enable travel merchants to better address fragmented and complex payment processes.
Antony Cahill, CEO of Visa Europe, stated that the partnership brings powerful card issuing solutions to the travel industry. Guillaume Pousaz, CEO of Checkout.com, mentioned that this new issuing partnership with Visa enhances cash flow management.
The partnership is expected to improve operational efficiency for merchants, simplify treasury operations by removing the need for pre-funding, and provide better control over spending. It may also unlock growth potential and improve business performance for merchants.
This development builds on Checkout.com's existing payment technology that supports high-volume e-commerce transactions. The offering is significant as it expands Checkout.com's services and strengthens its position in the global payment industry.
In conclusion, Checkout.com's partnership with Visa delivers significant benefits to travel businesses by enabling card issuing capabilities that streamline payment operations, improve cash flow, and enhance capital management. This partnership is poised to revolutionise payment solutions for merchants in the travel sector, leading to greater operational efficiency, reduced friction, and superior capital management in travel business payment operations.
[1] Checkout.com Press Release, [Date], [Link] [2] Visa Press Release, [Date], [Link]
This partnership between Checkout.com and Visa allows travel businesses to access Visa's global network and issue physical and virtual Visa cards, enabling faster cash flow and improved spend control (Checkout.com Press Release). This collaboration in the fintech industry also aims to simplify treasury operations, remove the need for pre-funding, and enhance cash flow management for travel businesses (Visa Press Release).
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