Travel giant Amadeus and payment mogul Mastercard have announced an extension of their partnership to five more years. The two companies want to continue working together to provide virtual card payment through the Amadeus B2B wallet in the travel industry, especially considering the COVID-19 pandemic that has discouraged fiat currency exchange.
Amadeus – Mastercard Virtual Payment Solution to Improve Customer Experience
Amadeus and Mastercard plan to continue providing virtual payment options for their customers and improve their experience of using virtual payments in the travel ecosystem. They promise to provide an automated, effective, safe, and flexible virtual payment service.
The two companies’ services include receiving and authorizing payments using the Amadeus B2B Wallet powered by the Mastercard Wholesale Program. The managing director of the payments department in Amadeus said the new Amadeus – Mastercard virtual payment solution will extend the range of opportunities to travelers.
Mastercard is dedicated to continue providing the travel segment with greater payment protection and enhanced transaction visibility. According to Amadeus’ director of travel Kevin White, the extended partnership with Amadeus will leverage expertise and innovations from both companies to continue supporting the travel sector as it tries to revive itself after the aftermath of the pandemic.
Virtual payments not only offer convenience in this pandemic-stricken era. One can guarantee a secure flow of cash through virtual payment systems. There are fewer risks of default and better payment confirmation with virtual cards.
Stakeholders in the travel ecosystem such as hotels, airlines, and travel agencies enjoy great convenience with Amadeus – Mastercard virtual payments solution. Travel giant Amadeus emphasized how the new system is specifically designed to cater to the exchange between clients and said travel vendors and agencies.
Amadeus to Revolutionize the Travel Sector
Mastercard is not the only firm that travel giant Amadeus has collaborated with to revolutionize the travel industry. Amadeus has also partnered with Conferma Pay and Booking.com through its Amadeus Hotel Billback program. The company wished to offer clients a simplified and travel reservation and payment workflow.