Payment solutions provider Flywire has announced a general roll-out of its new payment solution for the adventure travel industry.
The new solution seeks to address various payment complexities faced by online travel agents (OTAs) while conducting adventure tours.
Such difficulties include managing multi-currency disbursements to tour operators, currency fluctuations and offering payment-related support services.
The Flywire solution offers OTAs and tour operators key capabilities that include round-the-clock tracking of guest payments and operator disbursements.
It also enables disbursements in multiple currencies and supports collection and tracking of deposits and management of chargebacks in case of cancellations.
Additionally, it safeguards payments against fraud and currency fluctuations. The solution is also equipped with multi-lingual payment support for end-customers.
Flywire industry director of travel segment Colin Smyth said: “Adventure travel is a fast-growing opportunity but the payment side of it adds a whole new level of complexity.
“The reality is most OTAs and tour operators don’t want to be in the payments business if they can avoid it.
“At the same time, they also understand that payments represent an important part of the customer experience. A lot can go wrong if payments and disbursements aren’t handled properly. They can’t ignore it.”
Earlier this year, Flywire carried out a restricted launch of the product. Since then, it has been used by 50 clients globally.
Notably, in August, Vietnam Prosperity Bank collaborated with Flywire to streamline international tuition payments for Vietnamese students.