 Worldline, the global payment services provider, is joining forces with Visa, the digital payments giant, to launch a new virtual card issuing solution, helping travel agencies handle payments. By collaborating with Visa, Worldline will focus on the Online Travel Agency (OTA) market, by combining the organisations’ acceptance networks and payouts to streamline cash flow for OTAs. Worldline explained that it has seen a particularly high demand for a virtual card issuing solution. In fact, as the OTA market continues to grow, so has the demand for new payment solutions. Industry analysts expect travel and tourism will generate 76 per cent of all revenues from online sales by 2028, while the entire travel industry is expected to reach $1.74trillion in volume by 2026. OTAs currently representing 40 per cent of the global travel market, look likely to play an increasingly influential role across all sectors, including airlines, hotels, packaged tours, rail, and cruises. For OTAs, virtual cards play an integral part in streamlining operational procedures and this new partnership enables the OTAs to further optimise their business. Guillaume Tournand, VP of growth at Worldline Merchant Services, explained: “[This partnership] will transform the way online travel agencies handle payments by offering a unified solution that combines payment performance and cost-effectiveness. By leveraging our strong travel footprint, this initiative unlocks significant market expansion for Worldline, propelling us as the leading payment solution for travel agencies and driving sustainable revenue growth.” Bolstering payments for the online travel sector After selecting Visa as its international scheme partner, Worldline will provide OTAs with access to a dedicated B2B virtual card programme and enable them to pay their suppliers more quickly and securely. With both parties making a significant investment into this partnership, the opportunity to substantially enhance the payment infrastructure of the online travel sector is clear. The partnership connects Worldline’s Merchant Services Acceptance capabilities with its innovative Financial Services Card issuing platform. The offering, with joint acceptance and issuing, further supports OTAs in the management and optimisation of cash flows while reducing operational frictions.Worldline’s experience and deep understanding of the online travel sector will enable it to develop a market-leading solution that bridges the gap between acceptance and issuing., Worldline Focuses on Online Travel Agencies With Virtual Card Solution, Following Visa Partnership |
