Voxel Group has teamed up with foreign exchange company Kantox to improve B2B payment ecosystem in the travel industry.

Kantox now joins Voxel’s baVel platform as the first company offering FX risk management services.

The move will enable travel companies, which processes payments through the Voxel platform, to utilise Kantox’s currency management solutions.

Additionally, they can select the suitable payment method for every transaction through baVel, reducing associated costs as well as connecting with other payment providers.

Currently, the baVel platform hosts more than 12 companies offering payment-related services.

Voxel president Xavier Ginesta said: “This partnership with Kantox has strengthened our commitment to enhancing payment flows between businesses in the travel industry.

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“Our goal is to achieve a more efficient payment process for all parties, while offering the best payment providers to all baVel customers.”

Ginesta added that Kantox solutions will boost the profitability of travel companies, which usually operate with multiple foreign currencies.

Kantox co-founder and COO Antonio Rami said: “Kantox is pleased to partner with travel industry leaders, Voxel Group, to deliver a highly unique product that provides tangible benefits to companies in the travel sector.

“Thanks to the integration of our solutions, baVel clients can now automate the execution of their payments and FX risk management strategy in a more efficient way.”

Established in 1998, Voxel works to assist travel companies digitalise billing processes. It provides solutions in e-billing, e-payments as well as VAT management solutions.