Search Travel Market Report

mainlogo
www.travelmarketreport.com
  • News
  • Tours & Packages
  • Cruise
  • Hotels & Resorts
  • Destinations
  • Retail Strategies
  • Niche & Luxury
  • Air
  • Training & Events
  • Who We Are
    • Brian Israel
    • Dan McCarthy
    • Denise Caiazzo
    • Dori Saltzman
    • Kelly Fontenelle

Amadeus And U.S. Bank Deliver Virtual Payments For U.S. Travel Agencies

by Richard D'Ambrosio / April 25, 2017
Amadeus And U.S. Bank Deliver Virtual Payments For U.S. Travel Agencies


Amadeus is launching a MasterCard-branded Amadeus B2B Wallet in the U.S., a new virtual payment card, designed to bring agents and their clients’ better payment efficiencies, improved security against fraud, and potentially improve the agency’s profits.

Amadeus B2B Wallet is used by travel agencies to pay their suppliers. In most cases, the traveler/client pays the travel agency and the travel agency makes a separate payment to the travel supplier. This mode is used, for example, where the travel agency has agreed rates with suppliers or where they are selling a bundled price which includes travel elements (flight, hotel, etc.) from different suppliers.

The Amadeus B2B Wallet offers a number of features for the travel purchaser, including limiting transactions to a specific dollar amount, time and merchant type. The travel supplier charges the account within its normal course of business and receives payment electronically. 

Advocates say virtual cards can improve cash flow, reduce fraud risk, boost revenue share earned per transaction, slash the time spent reconciling payment invoices with booking files, and enable better control of travel spending.

“Virtual payments are a big deal,” said John Smith, president, Tower Travel Management, Chicago. “They are effective for younger travelers and travelers who do not have credit cards (common sometimes with smaller companies that don’t issue corporate credit cards for travel).

“We have a number of clients that are using virtual cards already, and the question is popping up on more and more RFP’s for travel services,” Smith said.

“Payment has traditionally been seen as a back-office cost center. It has typically involved mostly manual processes. So long as it works, business leaders don’t want to know. But new technology is changing that and creating an opportunity to build smart payment processes which allow travel agencies to cut costs, improve reconciliation and improve security,” said Chiara Quaia, head of Business Development, Amadeus Travel Payment.

Since the virtual card is linked to one account, but multiple travelers can use it, virtual cards provide a company with central pay. “That makes accounting easier for our clients, than having travelers submit all their receipts and credit card statements via expense reports,” said Smith.

And, “since they are single use cards, and frequently have built-in maximum expense limits, there is little worry that the virtual cards will fall into the wrong hands or be compromised,” he said.

“Greater payment security is one of the top three benefits virtual payment provides to travel agencies. The system creates single-use numbers that allow travel agencies to track individual bookings by setting up a virtual account with transaction-specific controls for the booking,” said Nicole Tackett, head of Strategy, Specialty Verticals and Partnerships, U.S. Bank, which is issuing the card.

“Ultimately, it is the combination of a single use account and the transaction- specific controls that maintain the highest levels of security for electronic payments,” she said.

In addition, U.S. Bank offers rebates to clients, whether the card is physical plastic with a 16-digit account number or a virtual card with a 16-digit account number. The amount of rebate is based on frequency of use and amount of transactions. 

Tackett said that the Amadeus B2B Wallet “brings value to large and small agencies alike. Many larger agencies will already be working with virtual cards, in which case Amadeus B2B wallet brings significant advantages in efficiency” because travel agents can generate the payment immediately from the Amadeus Selling Platform.

Smaller agencies may not previously have had access to virtual card technology, Tackett said.

Amadeus said it is currently rolling out the card with early adopters, with a wider availability in the coming months. Any agency interested in getting up and running with Amadeus B2B wallet should contact their Amadeus account manager, Quaia said.

  0
  0
Related Articles
Amadeus Launches Updated Version of Web Service with NDC
Southwest Airlines Opens Booking Access to Business Travel Managers
Eyeing Hospitality Sector Expansion, Amadeus Acquires TravelClick
Benefits of New Airline Distribution Tools Growing More Clear
How Sabre and Amadeus Are Dealing with New EU Privacy Rules
Amadeus Helps Travel Marketers Use Video to Book Sales
Travel Agents Must 'Stay Relevant' in Shifting Distribution Landscape
Amadeus Says Air France-KLM Surcharge Is ‘Never in the Best Interest of Travelers’
Amadeus T&E Study Reports Compliance Challenges and Solutions
Amadeus Rolls Out Partnerships With Global Bus Networks

MOST VIEWED

  1. U.S. State Department Updates Jamaica Travel Warning to Level 3
  2. First Hand Look at the Soon-to-Open Sam Lord's Castle Barbados, A Wyndham Grand Resort
  3. TSA Will Now Allow Teens to Access PreCheck with Parents or Guardians
  4. 25 Qualifying Questions to Help You Nail Your Clients' Vacation Plans
  5. Tips for Delivering Bad News to Your Clients
  6. Report: Margaritaville Times Square Faces Foreclosure

MOST EMAILED

  1. First Hand Look at the Soon-to-Open Sam Lord's Castle Barbados, A Wyndham Grand Resort
  2. 5 Reasons You Need to Use a Travel Advisor Now More Than Ever
  3. U.S. State Department Updates Jamaica Travel Warning to Level 3
  4. 25 Qualifying Questions to Help You Nail Your Clients' Vacation Plans
  5. TSA Will Now Allow Teens to Access PreCheck with Parents or Guardians
  6. Tips for Delivering Bad News to Your Clients
TMR Subscription

Subscribe today to receive daily in-depth coverage, analysis of industry news, trends and issues that affect how you do business. Subscribe now for free.

Subscribe to TMR

Top Stories
Double Their Luxury Experience in Riviera Cancun
Double Their Luxury Experience in Riviera Cancun

If you’re looking for a recommendation on a luxury adults-only vacation experience, Secrets® Riviera Cancun Resort & Spa is sure to impress. 

Read...
New Legislation Would Give Travel Advisors a Seat on DOT Advisory Body
New Legislation Would Give Travel Advisors a Seat on DOT Advisory Body

Travel advisors could soon have a seat on a key DOT advisory body.

Read...
Carnival Cruise Line Unveils "Your Winning Plan" Roadshow and Competition
Carnival Cruise Line Unveils "Your Winning Plan" Roadshow and Competition

Carnival is giving advisors the opportunity to learn from SBA business experts, while at the same time competing for $20K worth of prizes. 

Read...
One Year Out, Cruise Planners Reflects on Move Away from American Express
One Year Out, Cruise Planners Reflects on Move Away from American Express

Cruise Planners was the only travel franchise with an American Express Travel Affiliation.

Read...
Travel Advisors Share Their Top Client Gift Ideas
Travel Advisors Share Their Top Client Gift Ideas

Here are some ideas for client gifts that keep on giving.

Read...
Your Replies: Travel Advisors Don't Save Their Clients Money
Your Replies: Travel Advisors Don't Save Their Clients Money

Our recent column, "Travel Advisors Don't Save Their Clients Money," sparked a lot of interest and feedback from our readers. 

Read...
TMR OUTLOOKS & WHITE PAPERS
Cruise Trend Outlook 2023
river cruise 2022
group outlook 2022
View All
Advertiser's Voice
https://img.youtube.com/vi/TIZwKLcPwbg/0.jpg
We Appreciate our Travel Advisors
About Travel Market Report Mission Staff Advisory Board Advertise
TMR Resources Webinars Calendar of Events Outlook/Whitepapers Previous Sponsored Articles Previous This Week Articles
Subscribe to TMR
Select Language
Do You Have an Idea Email
editor@travelmarketreport.com
Give Us a Call
1-(516) 730-3097
Drop Us a Note
Travel Market Report
71 Audrey Ave, Oyster Bay, NY 11771
News |Tours & Packages |Cruise |Hotels & Resorts |Destinations |Retail Strategies |Niche & Luxury |Air |Training & Events |Who We Are
© 2005 - 2023 Travel Market Report, an American Marketing Group Inc. Company All Rights Reserved | 243 South Street, Oyster Bay, NY, 11771 USA | Telephone (516) 730-3097| Terms and Conditions
Cookie Policy Privacy Policy