Following this announcement, the collaboration is expected to provide Checkout.com’s customers and clients with the possibility to access the Mastercard Wholesale Program, which is set to unlock reduced costs and higher conversion rates.
In addition, the collaboration is expected to bring virtual cards to Online Travel Agents (OTAs) and other travel sector businesses that leverage cards to make B2B payments. Both Mastercard and Checkout.com will focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
More information on the partnership
As part of the Mastercard Wholesale Program, which was developed in order to reduce costs for travel businesses through the use of virtual card technology and an optimised pricing model, clients and users of Checkout.com will have the possibility to pay their suppliers in an easier and safer manner. In addition, they will also be enabled to benefit from higher conversion rates by issuing virtual cards.
Both companies will continue their combined strategy of providing the travel economy with digital payment solutions that offer an overall improved flexibility, visibility, and protection. Checkout.com’s clients will also be enabled to incorporate a new generation of payment solutions for business-to-business (B2B) travel.
In addition, by combining acquiring and issuing, Checkout.com will focus on enabling Online Travel Agents to move securely from receiving customer transactions to paying suppliers. Following this procedure, OTAs will not be required to manage these two sides of their business separately, as the process led to inefficiencies and an overall increased potential for error. Checkout.com’s integrated services will ensure a secure flow from customer payment acquisition to supplier payouts, making the process more cohesive and streamlined, while strengthening the trust within the ecosystem at the same time.
For more information about Checkout.com, please check out their detailed profile in our dedicated, industry specific Company Database.
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