Nium, renowned for its real-time cross-border payment infrastructure, has partnered with HyperGuest, a leading B2B marketplace in the travel and hospitality sector.
This partnership leverages Nium’s cutting-edge virtual card payment solutions alongside HyperGuest’s innovative travel distribution platform, aiming to optimise payment processes across the global network of travel partners, hotels, and accommodation providers.
The collaboration addresses critical challenges such as payment failures, fraud, and inefficiencies that plague B2B hotel transactions. These issues are exacerbated by high transaction volumes and technological incompatibilities between payment systems, often resulting in delays and lack of transaction visibility when using traditional banking systems and card networks.
By integrating Nium’s virtual card solution, HyperGuest’s platform will enable faster, more secure, and transparent payments worldwide. Nium’s capability to issue virtual cards in real time in over 20 local currencies significantly simplifies complex payment workflows and eradicates traditional bottlenecks in the travel industry.
Participants on HyperGuest’s platform, including independent hotels and hotel chains, will benefit from automated reconciliation and faster settlement times, enhancing cash flow and reducing fraud risks. For travel distributors and merchants, the partnership promises reduced payment costs and improved acceptance rates, fostering greater collaboration with hotel and accommodation partners.
HyperGuest chief product & strategy officer Amit Rahav said, “In a short period of time, Nium’s innovative virtual card solution has enabled us to increase payment volumes and offer more choice, flexibility, and control for travel partners and hotels in our network.
“By removing the middleman from the payment journey, Nium is helping us to create a fairer travel payments landscape, streamlining the process to ensure secure, cost-effective, and timely payments for participants across the entire value chain.”
Nium senior vice president of travel payments Max Lehmann said, “Our partnership with HyperGuest underscores Nium’s commitment to meeting the evolving needs of the travel industry with simpler, faster, and more efficient payments on a global scale.
“We are excited to grow our partnership with HyperGuest, delivering the benefits of our cutting-edge virtual card solution to more hotels and accommodation providers around the world. At the heart of it, it’s about unlocking new opportunities for travelers by enabling hotels to focus on what they do best; delivering exceptional guest experiences.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
