Ixaris has launched a new payments service, a
virtual card, to track and manage purchases and cash flow.
The Opn Payment Partner application is
targeted at the travel sector, which Ixaris argues faces
challenges.
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The application is part of a number of payment
products by Ixaris that enable users to customise payment
applications with configurable components, gives access to the Visa
and MasterCard and global money transfer service networks.
According to Ixaris, the launch of the Opn
Payment Partner comes at a time when travel companies face
“increased booking fees from airlines, cash-flow issues due to
delays in the payment of commission and difficulties operating
under the present card scheme compliance regime”.
The Opn Payment Partner enables
companies to create single-use virtual MasterCard or Visa cards
with which they can buy tickets and book other travel services for
customers.
The application gives access to various
card types to “bypass high merchant surcharges on select
transactions” and circumvent foreign exchange fees because the
virtual cards and be issued in both sterling and euro.
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By GlobalDataAlex Mifsud, CEO of Ixaris, said:
“Over the last few months we have worked
closely with the industry to develop this payment application so
that it not only simplifies payment processes to deliver
back-office savings, but also helps travel companies to transform
their payment processes into opportunities that generate revenues,
increase margins and improve cash-flow.”
