Visa partners Qashio for B2B travel payments

Visa’s Commercial Choice Travel programme leverages Visa’s payment infrastructure, and it was allocated over USD 27 million for future expansion.

Lowering expenses for the travel industry

Visa’s aim is to support the travel and tourism industry across the UAE, MENA, Europe, and the UK, simplify operational complexities, lower expenses, and assist companies in managing their travel payments.

Visa’s Commercial Choice Travel programme will allow companies to obtain Qashio cards that will enable them to facilitate transactions in multiple currencies such as AED, SAR, USD, EUR, and GBP. The cards are issued in the UAE, allowing simple payments and settlements across regions, with clients benefiting from integrated features and tools that automate reconciliation, improve payment processes, and optimise liquidity.

Additionally, the programme offers real-time data insights and analytics to provide precise cashflow tracking and budgeting. With an unlimited pool of customisable Qashio cards, companies will gain full control and visibility over payments.

The solution is integrated with global travel management companies and their booking tools, including global distribution systems (GDS), to ensure secure travel bookings and payments.

Spend management for the travel industry

In the Middle East and Africa, the expense management software market for the travelling industry is expected to grow from USD 214.69 million in 2022 to USD 305.81 million by 2028, driven by ecommerce growth, infrastructure development, and international trade.

The region’s reliance on digital platforms, government focus on digitalisation, and increasing contributions from knowledge-based sectors are reshaping the logistics and travel ecosystems. As the business travel industry rebounds, companies are adopting automation, data analytics, and AI to optimise expense management.

The demand for online travel services is increasing, with the MENA online travel sector reaching USD 8 billion in 2021 and growing at 28%. Digital platforms integrating booking, expense reporting, and itinerary management are becoming essential. In the UAE and Saudi Arabia, online travel payment transactions increased by 48% in July and August 2024 compared to 2023, highlighting the shift towards digital payments.