Worldpay and Mastercard Unveil Virtual Card Solution for Travel Agents

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Worldpay has partnered with Mastercard to introduce an innovative virtual card solution tailored for travel agents, aiming to streamline payments and address long-standing industry challenges.

In a press release issued on Wednesday (Nov. 20), Worldpay highlighted the persistent difficulties travel agents face in managing payments to suppliers such as airlines, hotels, and other travel service providers. The new virtual card offering, developed through Mastercard’s Wholesale Program, is designed to enhance the efficiency of supplier payouts while providing differentiated and customized solutions for travel agents in the U.K. and Europe.

Worldpay is the first provider to implement Mastercard’s dynamic product code capability, enabling travel agents and suppliers to establish mutually beneficial terms. This advancement not only simplifies payment processes but also fosters greater transparency and collaboration across the travel ecosystem.

“Travel agents have long faced challenges with payment management in the complex travel supply chain,” said Nabil Manji, Head of FinTech Growth and Financial Partnerships at Worldpay. “By collaborating with Mastercard, we’re delivering a virtual card program that drives new efficiencies for travel agents while increasing supplier acceptance through transparent, data-driven practices. Last year, Worldpay processed over $100 billion in transactions across the travel and airline sector, showcasing our deep commitment to this industry.”

Virtual cards have become increasingly popular as businesses seek faster, more secure payment solutions. Unlike traditional methods such as checks or ACH transfers, virtual cards offer near-instant payments, improved control over cash flow, reduced fraud risk, and in some cases, cash-back incentives.

Steve Tackett, Executive Vice President of Operations at Priority, emphasized the transformative potential of virtual cards for businesses aiming to optimize their accounts payable processes. “Virtual cards provide greater efficiency, less fraud, and more control, turning a cost center into a potential profit center,” Tackett noted.

By introducing this innovative solution, Worldpay and Mastercard are set to redefine payment processes for travel agents, creating a more efficient and secure framework that benefits both agents and suppliers.

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