The travel industry is full of contradictions. Online travel agents, and even “bricks and mortar” agents, were the pioneers of e-commerce. They are totally cutting edge and digital in the way they sell and book travel. But, once agents receive payment from a customer, the way they forward that money to suppliers (like hotels and airlines) is often old-fashioned, nondigital and very inefficient. Travel agents can simply no longer afford payment inefficiency. With profitability a key priority for the travel industry after an extremely challenging eighteen months, an effective B2B payment strategy is more important than ever before. As a result, virtual cards are gaining traction as a new and improved way to make B2B travel payments, as they are highly automated, offer complete control over payments and remove the need for manual reconciliation.
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