Following this announcement, Mangopay will provide payment integration, including multi-currency support in order to meet Travelnest’s complex requirements. In addition, the solution is expected to optimise the flow of funds from both the booking platform and guests, aiming to improve efficiency for the holiday rental platform and reduce costs.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of customers and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Travelnest represents a company that streamlines holiday rental listings, bookings, and payments for property owners. It also focuses on improving occupancy rates for holiday rental properties by automating marketing and increasing exposure on global booking sites, while reducing the administration burden for property owners as well.
Through this collaboration, Mangopay will leverage its flexible wallet infrastructure in order to continue supporting multiple business models in the platform economy. The firm’s wallet and end-to-end payment infrastructure will cover everything, from pay-ins to payouts, all secure by AI-driven fraud prevention. At the same time, platforms will have the possibility to build engaged communities where clients manage their money securely in one place, as well as to develop new revenue opportunities through the use of wallet-facilitated transactions.
In addition, the flexibility of Mangopay’s solution will enable the companies to manage complex payment flows for Travelnest, as they connect multiple property owners with several booking platforms. The technology is also suited to fast-growing businesses in the travel and hospitality industry, and both firms are expected to accelerate their development processes.
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