Sabre partners with Revolut

US-based travel tech company Sabre has partnered with global fintech company Revolut to push forward the B2B payments process for travel agencies.

This partnership is set to help travel agencies manage convenient international B2B payments, increase operational efficiency and security, and automate reconciliation and data tracking. This will provide a better experience for travel suppliers who can now get paid on time in their preferred currency, using negotiated payment acceptance rates. 

According to the official press release, the partnership between these two tech companies has onboarded over 40 customers in less than a year, improving the financial landscape for travel agencies. Moreover, Revolut's virtual cards are now generated within the Sabre Virtual Payments platform, which helps customers pay airlines, hotels and other travel suppliers with additional flexibility and security. Therefore, through this collaboration, Sabre will provide travel agencies with upgraded practices, personalisation and speed to market by leveraging Sabre Virtual Payments. 

Commenting on this, Sabre stated that bringing virtual payment solutions that travel agencies need is a priority for the company and that collaboration with Revolut aims to address operational efficiency and cross-border B2B payment needs.

Sabre Virtual Payments platform capabilities

As the press release further details, this partnership has helped solve some of the pain points for Sabre-connected agencies using Sabre Virtual Payments. For instance, a rapid onboarding process reduces the onboarding time from months to days, allowing customers to start transacting and paying suppliers efficiently. It also integrated flexible and secure virtual card technology into their existing workflows. 

Additionally, the partnership opened access to a comprehensive suite of commercial card products that improve payment acceptance rates, along with the conversion of one country's currency into another at preferential rates. Moreover, customers will benefit from real-time insights through Foreign Exchange (FX) management providing transparency and visibility across international payments while facilitating informed decision-making.

According to Future Market Insights, the virtual cards market is predicted to reach a worth of USD 1.3 trillion by 2032, with 12.2% projected growth between 2022 and 2032.

Through its platform, Sabre Virtual Payments facilitates a single point of integration between travel agencies, Revolut and various booking tools. Moreover, it automates payment reconciliation and delivers comprehensive payment data reporting to offer secured and fully integrated end-to-end payment services. As per Revolut officials, this collaboration aims to drive digitalisation in the travel sector, and improve transactions through their suite of virtual cards, real-time foreign exchange and API-based payment products. The joint offering has been brought to dozens of businesses this year, and they look forward to delivering even more value to customers in 2022.