By leveraging Edenred Payment Solutions, Ayruu intends to simplify its B2B payments, eliminating manual check processing or wire transfers. The adoption of virtual cards offers benefits such as quicker settlement times, improved cash flow management, and enhanced security through single-use Virtual Card Numbers (VCNs) and spend controls to mitigate fraud risks in online transactions.
Access to EU payment schemes such as SEPA Credit Transfer enables Ayruu to replenish funds into its master account for working capital. Moreover, the implementation of spend controls, such as specifying merchant category codes, ensures that cards are solely used for valid travel payments.
The seamless integration of the solution with Ayruu's software through Edenred Payment Solutions' API-based platform facilitates a straightforward addition to Ayruu's existing workflow.
Officials from Edenred Payment Solutions noted the anticipated growth in global business travel spend, emphasising the importance of simplifying the booking and payment process. They expressed excitement about collaborating with Ayruu to streamline their internal payments, aligning with Edenred's commitment to assisting growing businesses in optimising their financial processes.
In turn, officials from Ayruu highlighted the efficiency achieved in supplier payments through virtual cards, contributing to Ayruu's objective of eliminating expense reports for clients. This improvement aims to enhance the travel experience between hotels, accommodation providers, businesses, and employees.
Edenred Payment Solutions facilitates digital banking, Embedded Finance, and card-based solutions for clients, including Tide, Sainsbury’s, Foncia, and Bouygues. Regulated by the FCA and NBB, EPS operates as an Electronic Money Institution, providing a seamless product experience without regulatory complexities. Moreover, as a Mastercard Principal Member, EPS provides card issuing and BIN sponsorship to expedite time to market.
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