Pax2pay’s Post

💡✈️ Within the changing panorama of #B2Bpayments in the #travelsector, the most significant trends for the upcoming months are being shaped by #automation, security, and adaptation to new realities. We’ve spoken with several 🎤 industry experts to find out what we can expect in the short and medium term: Pol Payet (Comercia Global Payments), Severin Gerstenkorn (Pliant), Maria Sellar (TerraPay) and Jens Jacobsen (Pax2pay). Read the article 👇 #travelindustry #payments #travel #bavelpay #pagosb2b #automatizacion

TerraPay 🤝 Thredd 🛫 💸 TerraPay will leverage Thredd’s advanced virtual card technology to enhance its network, offering additional features to B2B travel intermediaries across INTERNATIONAL markets, allowing travel businesses to pay their suppliers quickly AND easily 📈 💰 This MASSIVE partnership is set ALSO set to capitalise on the growing market for B2B virtual cards, which is projected to reach $300 BILLION by 2027. 👨💻 “Welcoming TerraPay as a new partner demonstrates our commitment to serving the B2B payments industry with robust and seamless solutions to solve challenges such as modernizing supplier payments,” said Jim McCarthy, Chief Executive Officer at Thredd. Find out more on the link below! 👇 Ambar Sur #terrapay #travelpayments #digitalpayments #virtualcard #b2bpayments #paytech #supplierpayments #paytech #paymentsindustry

Airlines and B2B Payments - What's New? #ATPSB2B2024 in London The travel industry and payment specialists have been actively exploring the landscape of B2B #travelpayments. This includes examining the roles of various stakeholders within the value chain and seeking financially sustainable solutions. Over the past 12-24 months, significant changes have occurred in airlines' #payment strategies and initiatives. Here are some key areas to consider: - Payment terms with card acquirers: Airlines have been renegotiating payment terms with card acquirers to improve profitability. Factors such as business model (short-haul vs. long-haul), profitability margins, and transaction volume influence these negotiations. - Transaction routing: For cross-border merchants like airlines, optimising transaction routing is crucial. This involves selecting the right combination of regional and global payment partners (PSPs, acquiring banks) to maximize acceptance rates and minimize costs. Real-time data on acceptance rates and costs for specific PSPs or acquirers is essential for informed decision-making. - NDC and Merchant of Record (MoR) responsibilities: IATA's standard, New Distribution Capability (NDC), has brought new responsibilities to airlines, including being the Merchant of Record for transactions originating from indirect channels. Understanding the implications of this shift is vital for airlines. A well-executed digital payment strategy is essential for airlines to thrive in today's competitive landscape. The rapid growth of digital commerce in recent years has highlighted the importance of efficient and secure payment processes. Keen on this topic? Ai Events is scheduled to conduct the Airline & Travel Payments Summit (ATPS) B2B in London (24-25 September): https://lnkd.in/giFi4_GV By Ritesh Gupta, Ai Events Christopher Staab Lee Snyman Andrea Caulfield-Smith - MCBT Paul Nunn Cristina Ortega Garcia Diego Rubinsztejn dLocal Julian Brand Wallester Mastercard Visa Evervault UATP Pax2pay Outpayce from Amadeus Chargebacks911 Equals Money Elavon, Inc. CellPoint Digital APEXX Global International Air Transport Association (IATA) #travel #airlines #payments

Companies not embracing virtual cards or B2B payment innovations may fall behind in the competitive landscape. The dispute mechanisms provided by virtual cards are crucial, especially in challenging economic times or when companies face financial difficulties. 🌐💼 #B2BPayments #VirtualCards #Innovation

Counting on virtual cards as part of a B2B payments mix #ATPSB2B2024 Virtual cards are counted upon as a payment mechanism to bring security and efficiencies of digitization to operations of a travel company. These cards, which are typically used for a particular transaction or for a specific duration, are playing a vital role in B2B payments. The technology behind these cards offers benefits related to reconciliation (remove manual reconciliation), automation, security (limited-time use virtual cards can provide temporary card details for each transaction and can't be used again), foreign exchange (can be paired with the currency of suppliers) and cashflow (for instance, guaranteed payment timing, rebates are a source of immediate income etc.). Virtual cards also meet the requirements of agencies and suppliers. For instance, suppliers can work out their payments terms for different markets, products and sales volumes. Travel intermediaries and suppliers can trace and reconcile payments, while leveraging other virtual card benefits such as flexible pricing, financing options etc. The industry is going deeper and looking at ways to save on payment processing costs. A key aspect is to rely on virtual cards over ACH or traditional checks as a form of payment for cashbacks or discounts exclusively for virtual card payments. Accounts payable teams can garner rebates on transactions featuring suppliers who accept virtual cards.  The likes of OTAs are shifting to systems that are automated, and cost-reducing, and virtual cards support the same. Going forward, a travel company can evaluate following points for B2B payments: ·        How to continue to digitize payment and data flows throughout the value chain? ·        What is the negative impact of opting out of virtual cards as B2B payment method? ·        How to leverage cost-related benefits of using virtual cards? ·        Which virtual card technology is most beneficial for a travel company? ·        What are the new trends in this arena? Keen on this topic? Ai Events is scheduled to conduct the Airline & Travel Payments Summit (ATPS) B2B in London (24-25 September): https://lnkd.in/giFi4_GV By Ritesh Gupta, Ai Events Cristina Ortega Garcia Christopher Staab Wendy Ward Daniel YAO Spencer Hanlon Grace Fang Agustín Botta Jeremy Dyball Livia Vité Mastercard Visa Discover Global Network UATP WEX Nium TreviPay Worldline Worldpay Nuvei Sabre Corporation Outpayce from Amadeus Paysafe FIS Adyen Checkout.com Pax2pay #travelpayments #ATPSAPAC #ATPS2024

Wakanow Embraces Virtual Payments with Outpayce from Amadeus B2B Wallet Read more: https://lnkd.in/eEk_xcr6 #Wakanow #Outpayce #B2BWallet #VirtualPayments #Finance #Fintech #FinancialIT

💡After suffering through decades of difficulties and delays when transacting with each other, businesses on both sides of the B2B relationship are ready for a better approach to B2B payments 📲 While business payments in ecommerce platforms have benefited from massive innovation in online payment methods and smooth checkouts ✍️ B2B transactions keep being a nightmare for most companies 🔮 According to Visa & PYMNTS, "The next five to six years are going to be a massive change agenda. The payment methods, the compliance environment, ERP integrations, the level of sophistication around automation — that’s where payments modernization will have an impact” ✅ At Snab (YC W22) we wake up everyday to continue automating workflows for businesses in order to improve the whole payment and AP experience Contact us at: 👉 www.snabfinance.com https://lnkd.in/dH3-d59g

The B2B payments landscape is on the brink of transformation with Visa's new products aiming to enhance digital payments, security, and personalization. Businesses are ready for a better approach to B2B payments, which represent over $100 trillion in annual volume. The adoption of newer technology in payments is making advancements more accessible and easier to implement. The next five years will bring massive changes in B2B payments, with a focus on modernisation, automation, and payment methods. Embracing virtual cards and B2B payment innovations is crucial for businesses to stay competitive and meet customer expectations. #digitalinnovation #virtualcards

💼📈 Latin America is at the forefront of a major shift in B2B payment solutions, embracing digital innovation and mobile technology. Explore in our blog: 👉 The significant move towards digital payment platforms, enhancing business efficiency and connectivity. 👉 The rising trend of mobile payments, especially among SMEs, for on-the-go transaction ease. 👉 Breakthroughs in cross-border payments, simplifying international business dealings. For businesses looking for opportunities in LATAM, understanding these dynamic trends is crucial. Click the link below to get a comprehensive view of LATAM's evolving B2B payment landscape. 🔗📘 https://lnkd.in/dRV7Cczt #LATAM #B2BPayments #DigitalInnovation #globalpayments

💳 B2B Payments Revolution: Adopting B2C Speed and Convenience💳 1. 🌐 Consumer Expectations: Business professionals demand B2B transactions that match B2C speed and ease, including real-time processing. 2. 📈 Market Potential: The $100 trillion B2B payments market is ripe for transformation with modern payment technologies. 3. 💡 Visa's Innovations: Visa introduces new digital payment products to boost security, flexibility, and personalization in B2B payments. 4. 🔄 Rapid Adoption: New technologies ease the adoption curve, accelerating B2B payment advancements. 5. 🛠️ Competitive Edge: Embracing virtual cards and modern payment methods gives businesses a significant advantage. https://lnkd.in/et2JPwGV