Worldpay is launching virtual cards to enhance payment efficiency for travel service providers by agencies in Europe and the U.K.
Worldpay, a provider of payment technology, announced the launch of virtual payment cards for travel agencies as part of the Mastercard Wholesale Program (MWP). This new solution aims to improve the efficiency and security of payments to travel service providers.
This offering targets travel agencies that sell travel bookings directly to end consumers in the United Kingdom and Europe. The virtual cards will provide transparency and flexibility for B2B payments. In addition, the Mastercard Wholesale Program ensures scalable and seamless cross-border B2B payments, improving cash flow and reducing credit risk requirements.
Nabil Manji, Head of FinTech Growth & Financial Partnerships at Worldpay, stated in the press release that the company processed transactions totaling over $100 billion for the travel industry in 2023, giving it the expertise and practical experience necessary to understand the unique payment needs of this sector.
Chiara Quaia, Senior Vice President for Market Development Travel at Mastercard, also noted that the use of the Mastercard Wholesale Program will provide industry participants with a dynamic solution for B2B payments that can be easily adapted to specific products and market needs.
Recently, TON holders were given the opportunity to buy airline tickets, book hotel rooms, and pay for tours, excursions, and other travel activities in over 230 countries. Max Krupyshev, CEO of CryptoProcessing.com, noted in the Purpose Driven FinTech podcast the convenience of using cryptocurrency for cross-border payments, particularly in the travel industry.
