According to the press release, through the partnership, Amadeus and Mastercard will continue to provide flexible, secure, and efficient ways to make and receive payments.
Furthermore, the expansion builds on an existing strategic relationship committed to offer a fast, secure, and automated way to pay and get paid through Amadeus’ B2B Wallet payment platform with virtual payment technology offered through the Mastercard Wholesale Program. The programme is a solution specifically designed for the travel industry utilising virtual card technology to help enhance payment protection and increase visibility for transactions between travel agencies and their suppliers.
Overall, virtual cards can protect cashflow, mitigate risk of default and simplify back-office reconciliation while helping to improve the payment experience for both travel agencies and travel suppliers, such as airlines and hotels.
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