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March 12, 2021

Amadeus and Mastercard extend payment partnership

Travel technology company Amadeus has agreed to extend a global collaboration on payments with Mastercard for another five years.

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As part of the renewed partnership, the two companies agreed to work on increasing access to virtual card payments across the travel ecosystem.

The use of virtual cards reduce default risks and increases back-office efficiency.

The existing partnership enables transactions through Amadeus’ B2B Wallet payment platform using Mastercard Wholesale Program’s virtual payment technology.

Particularly designed for travel industry, the solutions increases visibility for transactions between travel agencies and their suppliers.

Amadeus managing director payments Bart Tompkins said: “The way travel agencies make payments to suppliers is changing. Virtual card payments help agencies respond to the challenges of Covid-19 by protecting cashflow, reducing risk, and improving back-office efficiency, whilst also improving settlement terms for suppliers.

“We’re pleased to continue our longstanding partnership with Mastercard. Our commitment is to ensure our customers can access a wide range of virtual card payment methods from the Amadeus B2B Wallet.”

Mastercard Travel and Enterprise Partnerships director Kevin White said: “Mastercard has long pioneered virtual card innovation and remains committed to helping the travel industry benefit from greater payment protection and enhanced transaction visibility through the Mastercard Wholesale Program.

“We’re thrilled to extend our partnership with Amadeus, a collaboration committed to leveraging expertise and innovations from both organisations to support recovery and growth for the travel sector.”

Recently, payment and commerce-enabling platform Payoneer partnered with Mastercard to provide digital solutions for small and mid-sized businesses (SMBs).

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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