Through this move, G2 Travel, a wholesale tour operator, is set to leverage Nium’s virtual card payment solution to pay hotel partners worldwide. The collaboration between the two companies aims to include additional local currencies to G2 Travel’s offering and make supplier payments more efficient and secure.
The partnership with G2 Travel comes just a few days after Nium announced its expansion into Australia. The initiative sought to advance the company’s commitment to offering a comprehensive real-time payments network and enable businesses to send payments internationally faster and at a lower cost. As of the announcement, businesses connected to Nium’s platform could make real-time cross-border payments to bank accounts in Australia, minimising costs and transaction times while scaling reliability.
The collaboration between Nium and G2 Travel aims to address the difficulties faced by the hospitality industry, including failed payments and increased fraud risks. Nium’s virtual card solution provides G2 hotel partners with faster settlements, automated reconciliation, and wider acceptance, in turn focusing on increasing security and payment efficiency. Additionally, by working together with Nium, G2 Travel can utilise the latter’s ability to issue Visa and Mastercard-accepted virtual cards worldwide, with the company having access to over 20 local currencies. At the time of the announcement, the alliance supported multiple live currencies, with plans to add more in the future.
Furthermore, G2 Travel aims to leverage Nium-issued virtual cards to pay a network of directly contracted hotels. Also, Nium’s real-time funding and issuing features support the simplification of bulk reservations, augmenting hotels’ cash flow and scaling working capital. Moving forward, G2 Travel is set to further expand its global payment capabilities with Nium, including more virtual card currencies and improving its group business offerings.
Commenting on the news, representatives from Nium mentioned that by merging their company’s travel payments experience with G2’s global distribution network, the two organisations intend to support hotels in optimising their payment operations while minimising fraud and improving cash flow. Nium and G2 Travel aim to extend their partnership into new markets and solutions, providing the capabilities of digital cards to more travel intermediaries and accommodation providers across the world.
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